OCBC, Southeast Asia’s second largest financial services group by assets, is using Oracle Fusion Cloud Enterprise Resource Planning (ERP) to support its purpose to enable people and communities to realise their aspirations.
With Oracle Cloud ERP, OCBC has unified its global finance platform to increase efficiency and enhance decision-making, as it continues to strengthen its ASEAN-Greater China network.
Formed in 1932 and headquartered in Singapore, OCBC has close to 420 branches and representative offices across 19 countries and regions.
To enhance its operational efficiency and align its financial processes globally, OCBC turned to digitalisation to transform its capabilities, moving away from manual processes.
OCBC chose to implement Oracle Cloud ERP to streamline and automate its finance operations and reporting for improved organisational effectiveness.
“It is imperative that we work together as ‘One Group’ to drive synergies that will foster growth. To achieve this, our finance teams across various entities and geographies will need a unified and agile global finance platform,” said Goh Chin Yee, group chief financial officer, OCBC.
Goh said Oracle Cloud ERP provided this solution, with capabilities to automate OCBC’s finance operations and reporting, enabling us to harness the power of data analytics and AI.
“With regular refresh and updates to these capabilities, we will be able to respond swiftly to changes in our operating environment, remain competitive while ensuring compliance with regulatory and accounting changes,” said Goh.
With Oracle Cloud ERP, OCBC has increased productivity and improved controls. Oracle Fusion Cloud Enterprise Performance Management (EPM), part of Oracle Cloud ERP, has also enabled OCBC to align its financial consolidation and reporting processes.
“With Oracle Cloud ERP, OCBC has embraced automation and embedded AI to increase efficiency, expand insights and accelerate decision-making as it expands into new markets worldwide,” said Adrian Johnston, SVP on applications at Oracle Asia Pacific.
