DMS Software helps revamp Asian Alliance Insurance
DMS Software Technologies (Pvt) Ltd (DMS SWT), a Gold Level Member of
the Oracle PartnerNetwork (OPN), helped revamp the claims processing
system for Asian Alliance Insurance PLC (AAI) by successfully completing
the implementation of the Oracle E-Business Suite Release 12 solution.
The new system enables claims to be processed in approximately five
hours as opposed to the three day period that was required previously.
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Seated f1–Ramal Jasinghe,
Director/CEO, AAI. Standing from L – Palitha Rodrigo,
Director/GM , DMS SWT; Saliya Wickramasinghe, GM (Finance)
AAI, Dilan Christostom, Senior Manager Finance Planning, AAI
Amal Dharmapriya,
AGM (IT), AAI. |
Headquartered in Colombo, Sri Lanka, Asian Alliance Insurance PLC
provides life and general insurance services to about 45,000
policyholders. Commencing operations in 1999, the company had grown to
35 branches, more than 1,050 employees and agents, and had US$20 million
in annual revenues as of early 2011.
Due to its continuous growth, in 2009, the company determined the
requirement for a replacement ERP system and invited vendors and
partners to submit proposals. Following a comprehensive review, Asian
Alliance Insurance selected Oracle E-Business Suite Release 12 and
engaged Oracle Partner, DMS SWT to implement it. DMS Software
Technologies started deploying Oracle Financials Release 12, Oracle
Inventory Management Release 12, and Oracle Purchasing Release 12 in
February 2010.
By implementing Oracle E-Business Suite Release 12, Asian Alliance
Insurance has improved general insurance customer retention by 12% and
first-year life insurance customer retention by 10%. The company has
also reduced the staff required to manually input and process data from
25 to 18, with further cuts planned. It has lowered end of the month
financial reporting times by 10 days; and gained the ability to monitor
costs more closely and take corrective action when spikes occur.
"Oracle E-Business Suite Release 12 has helped us satisfy customer
expectations in our general and life insurance segments, while providing
timely, relevant, information to fulfill statutory and regulatory
reporting requirements," said Saliya Wickramasinghe, General Manager
Finance, Asian Alliance Insurance PLC.
"We conducted an intensive review process with the guidance of Ernst
& Young and determined that Oracle E-Business Suite Release 12 met more
than 80% of the requirements, whereas other systems fell short of that
mark," explained Wickramasinghe.
"We also felt that Oracle was used significantly in the insurance
industry, and its vertical models may benefit us in future if we decide
to replace our home-grown system."
Oracle E-Business Suite Release 12 exceeded the capabilities of its
rivals in enabling Asian Alliance Insurance to manage its financial
requirements.
"The ability of the other solutions to manage our financial processes
was not very clear to us," said Wickramasinghe.
Asian Alliance Insurance started implementing Oracle E-Business Suite
Release 12 in February 2010, and the project went live in September
2010. DMS Software Technologies provided solution design and
implementation services, trained Asian Alliance Insurance staff in using
the system, and supported the company's efforts to build knowledge of
the Oracle products. The insurance company also engaged DMS Software
Technologies for Post-Implementation support.
With a partnership dating back to 1991, DMS Software Technologies
(Pvt) Ltd is an Oracle Gold Partner in Sri Lanka, specializing in Oracle
Applications. The company provides a full range of services including
Consulting, Development, Support, and Training.
DMS's focus on Oracle has lead to the development of skills and
technology, capable of supporting many Oracle products on multiple
platforms in an array of industries including Finance,
Telecommunications, Public Sector enterprises and large conglomerates.
DMS SWTis the only Oracle Implementation partner in Sri Lanka with over
15 years of Oracle ERP implementation experience.
"We have been working with Oracle for over twenty years and are
extremely proud to be the largest local Oracle EBS implementer. As the
local partner for Oracle e-business suites in particular, we look
forward to expanding our product portfolio further in the next couple of
years," said Palitha Rodrigo, General Manager of DMS Software
Technologies (Pvt) Ltd.
Over 65,000 customers worldwide rely on Oracle's complete, open and
integrated enterprise applications to achieve superior results.
Oracle provides a secure path for customers to benefit from the
latest technology advances that improve the customer software experience
and drive better business performance. Oracle Applications Unlimited is
Oracle's commitment to customer choice through continuous investment and
innovation in current applications offering.
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