Case Study

Managed Support Services for a Global Bank

One of the world’s top five banks by total assets required global support coverage of their Oracle ERP and PAAS suite of products.

Sector: Banking

Overview

Global Investment Bank

Global rollout of Oracle Cloud ERP & EPM needed supporting

We were awarded the support contract for one of the world’s top five banks by total assets. They had gone live with Oracle Cloud Financials, Accounting Hub and a Data Hub, and wanted a cost-effective round the clock support service for the new Oracle Cloud platform.

Questions we answered were:
• How difficult would the transition be?
• Will the quality improve after outsourcing support ?
• How much costs would it really save?
• Will this unlock time of bank’s senior management for them to focus on strategic work instead of support?

They wanted a support partner to manage the Oracle ERP suite of products plus provide 8×6 support coverage for their operations in UK, Belgium, Netherlands, Spain, Italy and Ireland, Singapore, Hong Kong and 8×6 support coverage for US hours.

Top 5 Global banks

Top five global banks

Global presence with initial rollout in Europe, America and APAC

Global presence with initial rollout in Europe, America and APAC

Transitioned from Oracle EBS to Cloud

Transitioned from EBS to Cloud

Internal IT support team to focus on strategic projects

Their internal IT support team to focus on strategic projects instead

Stringent SLAs with the business for generating daily PL position

Stringent SLAs with the business for generating daily P/L position

Complex solution with PAAS database integrated with Murex, Moody, Finastra LoanIQ, Bloomberg to name a few

Complex solution with PAAS database integrated with Murex, Moody, Finastra LoanIQ, Bloomberg to name a few

Quarterly upgrade testing - Automated regression testing with CloudTestMate

Quarterly upgrade testing

30 mins response time for high priority issues

30 mins response time for high priority issues

Challenges

To have robust support to ensure the bank could focus on its business and strategic initiatives

Compliance Icon

Timely access to management information

Faster uploads

Faster and reliable data uploads

Value addition

Creation of knowledge repository

maintenance icon

Break-Fix (Corrective Maintenance), Patch/System upgrades (Adaptive Maintenance)

Value addition

KPIs for Reaction time, Resolution time, Root Cause Analysis time, Problems resolved on time, Change Management Effectiveness, Defects Identified in Production, Recovery of applications per Recovery Time Objectives for OCI PAAS and integrations

Continuous Improvement icon

Continuous Improvement in Application Maintainability (Preventive/ Perfective Maintenance)

Solution

Customised Levels of Support

  • RL2 & L3 Production support, bug fixes and enhancements
  • RCollaborating with Oracle on critical production fixes related to month end closures and other regular issues

End to end Integrations support

  • RExtended support for end-to-end Integrations with Oracle General Ledger, including their integration middleware and integrations with Murex
  • RAutomated the Joiners, Movers and Leavers (JML) process by Synchronising Employee data between Oracle HCM and Workday using the workday adaptor available in Oracle Integration Cloud Gen 2
  • fApplication Support, Service desk Operations, Incident Management & Service request, Problem management.
  • fChange, Release and Configuration Management, Database administration and Environment
  • fCritical fixes due to incompatibility arising out of upgrade
  • f24*7 monitoring of Service requests for critical issues in production

Our transition plan we applied to take over support work from incumbent

Managed Support Service for a Global bank - Our Transition diagram - Fusion Practices

Workflows we implemented

Managed Support Service for Global bank - Implemented Workflows - Fusion Practices

The process we follow

How it all works in Real Life

The process we follow for implementing managed support services - Fusion Practices

Impact

  • RImproved month end financial close process by reducing the close cycle
  • RAccounting rules and integration to Murex, Treasury and other systems using Accounting Hub Cloud Services (AHCS) and Oracle PAAS Data migration from Oracle EBS to Cloud ERP within a week using our accelerator.
  • RUser manuals and guided training videos across all key business processes for change management
  • RDashboards such as Spend Analytics, Asset reconciliation report which have contributed to significant cost savings
  • RCost reductions by automating bank statement and balance sheet reconciliations using Oracle EPM Oracle Account Reconciliation Cloud (ARCS)

100% SLA Adherence

  • NImplement ITIL processes for Incident, Problem ,Change etc.
  • NImproved incident response and resolution : Consistently met SLA targets and provide 24x7 support for critical processes
  • NZero customer escalations during transition & Steady State
  • N70% Effort Savings during quarter end due to testing automation & continuous improvement

What do Customers value in our partnership?

Our solutions are designed with a
customer first approach

We take care of end-to-end
implementation and offer
comprehensive support service

We are proven, trusted partners of top-tier companies across sectors such as finance, banking, insurance, and retail

Our experience in transforming mission critical applications for Fortune 500 companies including finance, banking and insurance, and retail companies across the globe makes us one of the leaders and trusted partners for Oracle Cloud implementations.