Prudential
Modernizing a global insurance business
1. The Challenge
Prudential provides customers with a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management. Prudential is a global company, with headquarters in USA, and offices worldwide. The main challenges of this project included:
- Oracle EBS in US Hq.
- Need to quickly provide digital transformation to growing location in Argentina Complex Localization, Industry and reporting challenges.
- Complex Integration architecture scenario to modernize and simplify Need to standardize business.
2. Why ITCROSS
Oracle offered all of this in the cloud, and at the same time, the client found in ITCROSS, a global partner with a presence in Latin America, which demonstrated strong credentials in global projects with localization and integrations, and which Oracle had been recognizing for several years for its ERP Cloud projects.
ITCROSS consultants are highly qualified, committed to the project, and add value through their experience, ensuring the proper use of the system while sharing their insights on best practices
3. The Outcomes
- Modernized growing location in 6 months. Integrated, agile EOM close.
- Compliance solved, less spreadsheets and more automation. FIN and PROC best practices applied
- Integration with Insurance Core Apps simplifies Reporting to HQ on-time
- Oracle Cloud ERP and Oracle Procurement Cloud allowed a quick implementation, fast access to data, great reporting and integration capabilities, reduction of technical costs and, the possibility of obtaining the latest software update every 3 months.
- Oracle Cloud ERP enabled Prudential Argentina to seamlessly file the annual tax return, make payments to clients, and send the annual report to headquarters in the USA in a timely manner. Improved reporting with simplified access to data and automatic integrations with banks and other systems.