Re: Rip & replace?
Ellison could well include PeopleSoft in that "20th Century HR systems" camp. There's a lot of old software out that that needs to be replaced, and cloud is clearly winning where HR software is concerned. What's more, the latest breed of HCM systems have heavily consolidated what used to be separate systems -- recruiting, onboarding, training, workflorce planning, etc. So there's plenty of opportunity for Oracle and others to sell cloud-based HCM to companies that have legacy systems. A key point is that they are not "ripping and replacing" so much as "retiring and subscribing."