Accelerating growth: Reinvention with a unified digital core

In brief

• Reinvention is essential for sustained growth in today's business landscape.
  
  
• A unified digital core built with Oracle's technology enables continuous innovation, operational efficiency, and scalability.
  
  
• Companies like Atlassian have leveraged a robust digital core to overcome challenges and drive sustainable growth.
   

Why reinvention is non-negotiable

In today’s rapidly evolving business environment, the need for continuous reinvention has become paramount. Companies that aim to stay competitive must do more than just adapt; they must continuously evolve, integrating new technologies to meet the demands of a dynamic market. However, this path is often hindered by legacy systems, fragmented data, and technical debt, which prevent organizations from fully leveraging the potential of advanced technologies like generative AI.

Accenture’s latest research reveals that organizations embracing the tenets for a reinvention-ready digital core are not just keeping pace—they are leading the way, achieving higher revenue growth and greater profitability compared to their peers. However, only a small fraction of companies have successfully implemented the necessary steps to unlock the full potential of their digital core. This underscores the urgent need for a foundational digital transformation that can support and amplify innovation across the enterprise.

Building the foundation: Paving the path with Oracle

A unified digital core is essential for driving sustained growth, and Oracle’s comprehensive suite of cloud applications and infrastructure is at the heart of this transformation. Oracle technology enables businesses to build a resilient and scalable digital core that integrates seamlessly across functions, ensuring that data is connected, processes are streamlined, and decision-making is enhanced.

Oracle’s cloud platform offers a unified data model that simplifies data management, eliminates silos, and reduces the complexity of integrations. This approach not only improves operational efficiency but also accelerates the deployment of new technologies, such as AI and machine learning, allowing organizations to innovate faster and at scale.

Oracle’s commitment to continuous innovation is reflected in its regular platform updates, which deliver the latest technological advancements without the need for disruptive upgrades. This ensures that your digital core remains agile and capable of supporting the ever-changing needs of your business. By reducing technical debt through application rationalization and leveraging composable applications, Oracle empowers organizations to create a flexible digital core that not only supports current operations but also paves the way for future innovation.

Reinvention in action: The Atlassian story

Atlassian, a global leader in collaboration software, faced significant challenges with its legacy core financial systems. These outdated systems created operational inefficiencies and impeded the company’s ability to integrate new technologies and respond swiftly to market changes. Recognizing the need for a robust digital core, Atlassian partnered with Accenture to undertake a comprehensive digital transformation, implementing Oracle's technology.

In just nine months, Atlassian successfully modernized its core financials platform, eliminating over 800 customizations, integrating 25 systems, and implementing a new chart of accounts. This transformation enabled Atlassian to unify its data, streamline operations, and enhance decision-making capabilities, ultimately supporting its growth ambitions and strengthening its market position.

Atlassian’s success story demonstrates the power of a well-executed digital transformation. By building a strong digital core with Oracle’s technology, Atlassian not only resolved its operational challenges but also positioned itself to continue its legacy of innovation and leadership in the industry.

The path forward: The time to reinvent is now

As the pace of change accelerates, the urgency for businesses to build a reinvention-ready digital core becomes ever more pressing. Companies that invest in a strong, integrated digital foundation will not only optimize their current operations but also unlock new opportunities for innovation and growth. A robust digital core enables organizations to rapidly adopt new technologies, scale their innovations, and lead in their respective markets.

Accenture’s research highlights that companies with an industry-leading digital core are twice as likely to reinvent business functions with gen AI and create significant value. However, the path to such a transformation requires strategic investments in innovation, careful management of technical debt, and the selection of the right technology partners.

Conclusion

In a world where the finish line is constantly moving, reinvention is not just a strategy—it’s a necessity. Oracle and Accenture offer the expertise, technology, and strategic guidance needed to build a digital core that not only supports your business today but also prepares it for the challenges of tomorrow. By investing in a unified digital core, businesses can turn the complexities of reinvention into opportunities for growth, ensuring they are not just keeping up with change but leading it.

Ready to accelerate your growth? Read the full report, Reinvention Accelerated: Driving Strategic Growth with a Unified Digital Core, to discover how Oracle and Accenture can help drive your strategic reinvention.