ORACLE DRM AND EPMA IMPROVES CONTROL AND EFFICIENCY OF ICAP’S FINANCIAL APPLICATIONS
ICAP, a leading markets operator and provider of post trade risk and information services. With a local footprint in 32 countries, more than 70 locations worldwide and an average daily transaction volume of US$1.3 trillion, ICAP can truly be considered a global company.
ICAP recognised that they needed a strategic approach to master data to underpin a comprehensive Financial Transformation Programme. They looked to us to “improve ICAP’s approach to master data governance, help improve the end-to-end visibility of data and help improve our ability to automate interfaces.”
We are glad to announce that ICAP have realised the benefits of a strategic approach to master data and this is evidenced by the following case study – Seismi ICAP Case Study.
If you would like to find out more about what we did and how we did it, then please do not hesitate to get in contact.
AN ORACLE DATA RELATIONSHIP GOVERNANCE JOURNEY
Following on from the success of deploying DRM, ICAP engaged Seismi to implement Oracle Data Relationship Governance (DRG), the new workflow module of DRM. The ICAP DRM and DRG implementation is considered by Oracle to be the first complex implementation in EMEA.
ICAP and Seismi were therefore invited to present the highlights of the implementation at Oracle Open World 2014.
You can view the presentation here.
In this presentation we explore how ICAP has successfully federated management of their chart of accounts to different business areas whilst retaining control over the impact of changes on business critical financial applications.
This has been achieved by:
– Replacing spreadsheet based processes with automated, controlled and auditable workflows;
– Leveraging security to provide regional control over subsets of global hierarchies; and
– Leveraging versions, filters and security to adapt the level of control over requests.
The presentation provides an overview of the DRM and DRG design, of the approach to implementation, the benefits delivered, the challenges overcome and the lessons learnt.
Please contact us for more details about this implementation.
SEISMI OVERHAULS FINANCIAL PROCESSES AT ANGLO COPPER
Anglo Copper is a division of Anglo American plc (LSE: AAL.L) with turnover of over US$4 billion (2010). Its strategy is to find, acquire, develop and operate long life, low cost mines in a socially and environmentally responsible manner.
Their business environment was relatively complex with many applications and over 200,000 account codes.
The case study is a good example of the type of project that the Seismi team have delivered for their clients. It also provides a good example of the flexibility of Oracle Data Relationship Manager (DRM) tool and how it can be adapted to meet key business issues.
Not only were Seismi able to allow Anglo Copper to resolve some significant issues within their finance applications architecture but it has also provided their finance team with a robust and flexible platform that will be able to adapt to Anglo Copper’s business as its strategy evolves, including the ability to integrate acquisitions effectively.
In addition we were able to implement the solution over a rapid a 6-month timetable.
QUALITY ASSURANCE REVIEW FOR ORACLE DRM
The RBS Group (RBS) is a UK-based Banking and Financial Services company. Headquartered in Edinburgh, the Group operates in the United Kingdom, Europe, the Middle East, the Americas and Asia, serving over 30 million customers worldwide. RBS sought our assistance to “evaluate our current approach and to document the relationships and key data entities which interacted with our Oracle DRM instances” with the aim of identifying potential enhancements, risks or issues with their current implementation and provide a set of recommendations.
“The knowledge and expertise that Seismi provided has helped us to understand the risks and issues with our current process.
The review was detailed, wide ranging and conducted in a professional and logical
manner. The output from the review was documented in a clear and concise format and has proved valuable as we look to understand how we should progress with our Oracle DRM implementation.
Seismi demonstrated a detailed understanding of the Oracle EPM product set and provided us with a comprehensive set of recommendations which will help us define our master data strategy.”
Head Finance Solution Design and Architecture
If as RBS, you would like an external review of your DRM implementation by a Oracle Specialised Partner, please do not hesitate to get in touch.