Economic pressures are increasing and seem to be striking from all angles at the moment, each presenting unique challenges (supply chain issues, staff shortages, shrinking markets, and consumer wariness) to organisations in a variety of industries.
The latest instalment in the concern chronicles for organisations is inflation; particularly for those in the UK, with inflation having risen by 5.5% (a 30-year high) in the 12 months to January 2022.
This figure is not expected to start trending downward for some time yet, with some experts predicting that inflation could reach 7% by spring of this year.
As these worries grow more and more intense, and the market becomes less and less predictable, it’s no surprise that many organisations are looking to reprioritise and reallocate critical resources. This might look different for every organisation, but the goal will likely remain the same: futureproof their operations.
This, too, is true of those organisations looking to upgrade their Oracle Database. But how are CIOs budgeting for this?
- Is an Oracle Database upgrade necessary?
Oracle offers new Database releases almost yearly, helping the vendor appear innovative, relevant, and competitive in the marketplace. The trouble is, not every organisation can keep up with these regular releases.
Organisations that do choose to go through the motions with an upgrade will have done so to benefit from “cutting-edge technologies”, greater security, and, of course, Premier Support.
Other organisations might have been compelled to upgrade by Oracle, with the vendor advising they must first upgrade their Database to utilise the latest Oracle applications.
Wondering how to fund your next Database upgrade (be that because you want to upgrade or because you have to) at time when everyone else seems to be tightening their belts, is a tricky position to be in.
- Press pause on (other) big development projects
We mentioned briefly earlier about “reprioritising and reallocating critical resources” when it comes to funding IT projects.
Perhaps one of the most straightforward ways of doing this is by hitting the pause button on large, costly, or time-consuming projects. Making such a decision can free up vital resources, reduce risk, and save large portions of your budget.
The savings made by halting the launch of a new project could instead be invested in upgrading your Oracle Database, and possibly any additional costs that are incurred as a result. In essence, you’ll be choosing to prioritise your Oracle Database upgrade and reallocating the necessary funds and resources accordingly.
This decision to save could, however, also come at a cost.
By opting to divert vital IT budget into an Oracle Database upgrade, your organisation could be missing out on innovative technologies that may improve existing processes, deliver new services, expand capacity/capability, and ultimately boost the bottom line.
That’s a pretty hard pill to swallow when everyone else is adopting new/different technologies and innovations to secure a competitive advantage and remain ahead in the marketplace.
- Harness your negotiation power
In recent times, when the going has been tough, organisations (and people) everywhere have sought relief from financial strains by approaching their suppliers for more suitable payment terms, or (ideally) more favourable rates.
It can be tricky to open negotiations with your vendor, especially with the likes of an industry giant like Oracle (you can watch our webinar to find out more). But there are definitely circumstances that your organisation can utilise to lower your existing support bills and recover a large portion of your IT budget.
It’s not unheard of for companies to offer price-matching schemes. Many organisations recognise that taking a hit initially could prove invaluable to the long-term relationship (and is much more preferable to losing custom altogether).
Oracle, at its core, is deeply rivalrous and is always striving to outdo other vendors in the market. Its competitive drive sees the vendor push to keep growing its market share, particularly now that its faced with more competition than ever before.
More recently, organisations have gotten wise to this. Using the growing number of alternative providers to their advantage, customers have been pressing Oracle to offer higher discounts and concessions by alluding to the possibility of leaving its support services in favour of another provider’s.
If, however, you’re in too deep with Oracle and the vendor can call your bluff, there is another way to recoup some of your IT budget and fund your Database upgrade.
- Or, leverage third-party support
If putting important projects on hold, negotiating with Oracle, or picking through your IT estate seem like loathsome tasks for the sake of another Oracle upgrade, then there is another way.
You see, many organisations are recognising that with each new Database release, there is little in the way of improved functionality or additional features. In short, most upgrades are not worth the expense and those funds could be better redeployed to another project, area of the business, or critical system.
That’s where we come in.
As a third-party support provider, we can help organisations:
- Break free from Oracle’s upgrade cycle to take back control of their Oracle estate and IT roadmap
- Extend the lifespan of the technologies and improve the ROI of their existing systems by supporting all versions of Oracle products
- Benefit from a continuous and high standard of support and maintenance services, including tailormade patches delivered in real-time to maintain system security and compliance
- Save at least 50% on their annual Oracle support bills
Unlike Oracle, we don’t undertake research and development for innovation and new products, which means we don’t have to fund the R&D for these by passing the costs onto our customers. Instead, our sole focus is support for our customers’ Oracle systems.
Helping our customers to make such HUGE savings, as well as enabling them to reclaim autonomy over their IT roadmap, means that organisations can invest these savings into a Database upgrade when it suits them, and not when it suits Oracle.
Budgeting is hard – especially when there is so much going against businesses – but that doesn’t mean you have to let Oracle dictate how, when, and where you should spend your IT budget.
If you want to find out more about how to save on your Oracle Support bill, why not peruse our informative guide:
CTA – Download the guide!