ASIAN Alliance Insurance PLC (AAI) recently announced the successful implementation of the world renowned Oracle e-Business Suite Release 12 to its backend system.
This implementation has enabled AAI to integrate its accounting system with ‘iSYS’, which is a homegrown frontend operational system, enabling the maintenance of the core insurance transactions and customer databases of Life and Non-Life Divisions. As a result of a strategic decision taken by the Management in 2010, AAI invested Rs. 25 million towards purchasing the Oracle e-Business Suite Release 12 with the inclusion of the General Ledger, Inventory, Purchasing, Accounts Payable, Accounts Receivable, Fixed Assets and Cash Management modules.
The Company contracted Ernst & Young as the Project Consultant in order to identify the requirement and provide guidance to ensure a smooth and accurate implementation. DMS Technologies (Pvt) Ltd, Oracle implementation solution partner, successfully completed the implementation of Oracle e-Business Suite for AAI. The challenging task of online real time integration of Oracle E Business Suite and the frontend system of the company was successfully completed by the in house systems development team with the assistance of the vendor and the project consultant adding value to the processes of AAI.
AAI is focused on strengthening the IT infrastructure with the objective of meeting its expanding business needs. The launch of the ICT Development Centre in year 2008 was an initiative to gain competitive advantage in an ever demanding industry where AAI has set high standards in ICT operations to deliver quality real time insurance solutions to its portfolio of clients. Currently, the in-house ICT development laboratory is a frontrunner in the industry. This step has resulted in an industry first with the development of AAI’s very own front end system ‘iSYS’ once again by the in house team of IT professionals. “iSYS” has been audited by Ernst & Young and found to be foolproof whilst being par with the international standards.
AAI Director and CEO Ramal Jasinghe said: “We are delighted to have Oracle as our solutions provider and proud to announce that this is one of the few known IT integration projects that was implemented seamlessly without a hitch. We look forward to capitalising on new opportunities while effectively building a scalable operations platform in order to maintain our position as a leading player in the insurance industry.”
The deployment of the Oracle ERP system was essential to integrate company’s front end system – ‘iSYS’ and the finance system into a common platform in order to maximise the efficiency levels which in turn will strengthen the services provided to the policyholders. The Oracle solution enables AAI to better manage and share real time data across the board facilitating the Management Team to arrive at prudent & timely decisions. It also provides a flexible, robust and user friendly system across the segments.