HNB Assurance goes for Oracle E-Business Suite

HNB Assurance PLC (HNBA) has launched Oracle E-Business Suite 12 to integrate and streamline its core business applications. This can help HNBA to receive timely and accurate data for quick business decisions, while automating the processes to increase staff productivity.

Prior to deploying Oracle E-Business Suite, HNBA was using a legacy finance system, with many reporting activities being done with manual intervention and considerable effort.

Integration with its insurance core application was not possible while the company dedicated extra resources to align financial operations with International Financial Reporting Standards (IFRS) and to meet legislative needs, accounting standards and policies.

HNBA implemented a 'strategy of zero customisation' while launching the Oracle E-Business Suite and mapped all its process work-flows to standard Oracle E-Business Suite functionality.

This also integrated with the existing Oracle footprint within the company, making it a strategic business decision.

"We have been using Oracle solutions for the past10 years and have relied on its best in class database and middleware products," said Head of Information Technology, HNBA, Namal Gunawardhane.

"With Oracle E-Business Suite, we have a perfect match of products which provides us with the unique ability to maintain our infrastructure and applications at an optimum performance and compliance level with a cost advantage," he said.

Implementation of Oracle E Business Suite, a high-performance, reliable, and scalable enterprise resource planning (ERP) platform, helped the company integrate the system with its core applications while eliminating intermediate manual processes in acquisition and processing of data.