Lankan telecom industry fast moving with latest technologies

Anjana Samarasinghe

Local Telecommunication industry is fast growing in adopting latest technologies in the world for delivering services to its customers and in the local financial sector. Some players have already equipped with advanced technology while others still evaluating these technologies.

Senior Sales Manager Technology Business South Asia Growth Economies of Oracle Corporation, Amer Khan told Daily News Business that telecommunication sector in Sri Lanka is growing at a high level. Different players in the industry adopt different technologies at different phases.

However comparing with other countries in the region local telecommunication industry has rapid adaptation to the latest technologies for facilitating their customers, he said.

Oracle provides profitable technologies and applications for top 19 telecommunication companies in the world and also provides technical solutions for players in the local telecommunication sector too.

Khan said that they have three strategies when providing technologies and applications for telecommunication industry. Providing end solutions for this sector is an important element as telecommunication sector is growing rapidly and players cannot go for many vendors for their technical solutions.

Empowering next generation networks and service oriented architecture transformations are the other two strategies of Oracle.

Networks have been improved in the telecommunication sector in the world and facilitating next generation networks is important, he said.

Talking about the financial sector Khan said that today financial sector has become very critical and more competitive. Risks and compliances are major challenges in this sector. Banks need to increase efficiency and effectiveness to compete better in the market.

In the local financial sector some players have already adopted latest technologies while others still evaluating these technologies. However within the next two to three years time whole industry will adopt these technologies due to international compliances, he said.

Today banking sector moving towards core banking applications and there is a sharp increase of automating customer bases in the banks.

Oracle offers many applications for facilitating core banking operations such as human capital management applications, assets management applications and budget and planning applications.

International banking sector has moved for better processes and online banking systems. Data security has become more important and Oracle provides solutions for online fraud detections and data security he said.

He also said that manufacturing sector in Sri Lanka more focus on acquiring latest technologies for managing their customer base and for supply chain management.