Life insurance and wealth management company ClearView has implemented Oracle’s ERP client locally, replacing its legacy general ledger platform with the next generation platform.
The implementation was undertaken by KPMG.
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“The move to a cloud-based solution is more than just an upgrade of a legacy general ledger platform, it paves the way to truly evolve how we operate as a business,” said Athol Chiert, CFO of ClearView. “The solution will always be up-to-date, our data is clean, and we will now only need very limited third party vendor support. Most importantly, our finance teams will be able to free themselves from pure transaction-processing activities and devote more time to acting as strategic partners to the ClearView business.”
ClearView and KPMG delivered the cloud platform in just five months using the KPMG Oracle Cloud Implementation methodology, which is designed for accelerated cloud transformation.
The program required the rapid migration of seven years of ClearView’s heritage data into the Oracle ERP Cloud and integration into a range of on-premise systems.
Julian Edwards, KPMG Technology Partner, says “This is a real first for the Australian market. We have proven that the days of 18 months of mega implementations of back office systems are long gone. KPMG and ClearView were able to roll out Oracle ERP Cloud in just five months. ClearView was able to move from an old version of PeopleSoft to the leading cloud financials software in a hugely effective manner. The ease of the transformation, coupled with the value it unlocks, will make a compelling case for many Australian businesses.”
Multiple core processes, including general ledger, accounts payable, fixed assets, and tax were implemented on Oracle’s industry-leading ERP Cloud platform, creating a single source of truth for financial data. Additionally, ClearView will benefit from Oracle’s ability to scale to accommodate their growth, ready access to new functionality deployed through the cloud, and real-time reporting and analytics on live financial information – resulting in up-to- the-minute insight into profitability and performance.
“ClearView is a company that is experiencing rapid year-on-year growth but was running their general ledger platform on an outdated technology stack. As a progressive company that values data driven insight, it was imperative that the ERP Cloud solution they selected had the capacity to grow with them as they scale,” said Thomas Fikentscher, General Manager, ERP, Oracle ANZ.
“They needed a solution that had the capacity to provide flexible business driven knowledge through analytics and strategic business intelligence, allowing them to take action today and plan for tomorrow. Within five months, KPMG’s implementation delivered ClearView standardised business processes, which will provide them seamless upgrades multiple times a year, ensuring modern best finance practices are always at the company’s fingertips.”