Oracle Cloud ERP is integrated by OCBC, the second-biggest financial services company in Southeast Asia, to improve decision-making, automate processes, and spur expansion throughout its ASEAN-Greater China network.

The second-largest financial services company in Southeast Asia by assets uses the Oracle Fusion Cloud ERP solution as part of their operations - which will help them improve themselves and communities - OCBC. The integration has been an attempt made by OCBC to improve efficiency and make better decisions with global financial platforms in their Oracle Cloud ERP as they strengthen their ASEAN-Greater China network.

OCBC established itself in the region when it was formed in 1932 and headquartered in Singapore, having over 420 branches and representative offices in 19 countries and territories. In effect, OCBC should stay converted from manual processes to digitalization over the globe to create operational efficiency through the integration of global financial operations. OCBC took a decision to automate and optimize its financial reporting and operations through Oracle Cloud ERP to do better in organizational performance.

According to Goh Chin Yee, the group chief financial officer of OCBC, this needs to be a collaborative effort as "One Group" with a view to creating synergies that support growth. An integrated and adaptable global financial platform is needed for their finance teams across various businesses and geographies.

Oracle Cloud ERP provided that solution, which enabled automating OCBC's financial processes and reporting with the power of AI and data analytics, according to Goh.

Companies can retain their competitive position and respond rapidly to any changes in their operational environment while adapting to changes in accounting and regulatory requirements, as long as such capabilities are constantly upgraded and refreshed, she added.

Using Oracle Cloud ERP, OCBC has strengthened controls and fostered efficiency. Thanks to Oracle Fusion Cloud Enterprise Performance Management (EPM) within Oracle Cloud ERP, OCBC has also gotten its financial consolidation and reporting processes into harmony.