Oracle E-Business Suite Release 12.1.3 Helps Commercial Bank of Ceylon PLC Automate Financial Reporting and Assets Management
Colombo, Sri Lanka – May 30th, 2011
- Commercial Bank of Ceylon PLC, a premier bank in Sri Lanka has successfully implemented Oracle E-Business Suite Release 12.1.3 and Oracle Database 11g running on Oracle Linux to streamline its reporting processes, managing of assets while enhancing productivity and operational efficiency. The bank opted to deploy Oracle applications in November 2010.
- Prior to successfully deploying Oracle applications, a significant amount of work was being done manually which required a lot of effort and time.
- The deployment of Oracle Applications has enabled the organization to consolidate, integrate and present to top management important business information. It has also enhanced the organization’s ability to manage cost and time by reducing the amount of manual work.
- With the successful deployment Commercial Bank is now able to track enterprise-wide capital investments; monitor cash flows, and manage projects with crucial cost-revenue, budget and margin data.
- The bank has also deployed Oracle Database 11g to lower its infrastructure costs and deliver a higher quality of service running on Oracle Linux, which delivers higher performance and better reliability at significantly lower cost than competitive solutions.
- Oracle Financials will integrate data from various sources such as Treasury, Trade Finance, and Core Banking into a single financial repository enabling senior managers to obtain an online view of the company’s financial status.
- In addition, Commercial Bank has deployed other modules of the Oracle E-Business Suite Release 12 1.3, including Oracle Inventory Management, and Oracle Purchasing to achieve better visibility and monitoring of reporting process and managing of assets across the organization.
- “During our evaluation process, we engaged a global consulting firm to conduct a study of our business processes in order to choose the most suitable solution” said Rohan Muttiah, CIO of Commercial Bank of Ceylon PLC. “Oracle E-Business Suite Release 12 turned out to be the best match for us and we are working towards enhancement of productivity over the next few months with Service Level Agreement driven shared services functions.”
- “Oracle E-Business Suite has provided us with visibility of our assets and financials,” said Nandika Buddhipala, CFO of Commercial Bank of Ceylon PLC. “We now have an integrated view, enabling us to easily track enterprise-wide capital investments; and monitor cash flow”.
- “The Oracle E-Business Suite Release 12.1.3 running on Oracle Database 11g has provided Commercial Bank with an end-to-end view of its entire business to drive its performance with consistent and timely information,” said Akkasha Sultan Shaikh, Country Head – Application Business, Oracle South Asia Growth Economies - West. “We are pleased that Commercial Bank has chosen the Oracle E-Business Suite, which is the most comprehensive suite of integrated, global business applications that help organizations achieve optimum efficiencies as they grow”.
About Oracle Applications
Over 65,000 customers worldwide rely on Oracle's complete, open and integrated enterprise applications to achieve superior results. Oracle provides a secure path for customers to benefit from the latest technology advances that improve the customer software experience and drive better business performance. Oracle Applications Unlimited is Oracle's commitment to customer choice through continuous investment and innovation in current applications offerings. Oracle's next-generation Fusion Applications build upon that commitment, and are designed to work with and evolve Oracle's Applications Unlimited offerings. Oracle's lifetime support policy helps ensure customers will continue to have a choice in upgrade paths, based on their enterprise needs. For more information on the latest Oracle Applications releases go to: www.oracle.com/applications
About Oracle in Sri Lanka
Oracle first started its operations in Sri Lanka in 1991 via a local partner. Since then, Oracle has built up a strong presence as a partner to the Sri Lankan economy and community by providing a full range of products and services through its established network of partners. To further its commitment, the Oracle Liaison Office was established in Colombo in 2004 to provide strong support to its customers. Today, more than 100 organizations in Sri Lanka across key industry sectors - including government, financial services, telecommunications and manufacturing - use Oracle technology and applications to gain greater operational and cost efficiencies. Oracle’s commitment extends to its extensive network of alliances, channel partners and resellers in Sri Lanka, who are members of the Oracle PartnerNetwork.
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