Oracle Apps are highly popular with large companies. Experience with them will make you very hireable. This is an opportunity to build upon your developer skills and make yourself marketable as a consultant.

Functional :

You need to be a professional with the domain knowledge to be a functional expert. If you look at the companies, mostly the functional consultants will have the respective degrees. For eg. functional folks for the finance modules (payables, receivables, assets, general ledger etc.) will be either CAs or MBAs. Almost same applies to the all the other modules. This is what I've seen all along. In this role, you're expected to know more about the business and the EBS suite product and know how efficiently you can use / implement the EBS suite in accordance to the needs of the business.

Techno-functional :

You can perform this role very well. You should be a strong player technically with the additional domain expertise. You should have the development experience using the Oracle Developer suite (forms, reports etc.) and knows the EBS data model and architecture (APPS schema, tables, triggers, packages etc.) and should know how to write custom API extension to suite the company's requirements. Generally you'll start as a developer and over the period of time, you'll acquire the domain knowledge and grow to the level of a team lead, project manager etc.

Technical :

This is pure technical role. You may get the domain expertise, but that's purely based on your own interest and it's not required to perform the day-to-day job. In this role, you'll mostly be the apps DBA or a sysadmin.

In functional / techno-functional role, growth is little faster and visibility is a little more compared to the technical role.

Don't worry about the competition. Right now, SAP is the only big ERP competitor for Oracle. Oracle also has a huge ERP customer base around the globe and it can't be replaced so easily as it involves huge investment. My 2 cents.

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