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BANKING

FinTech Integrates Acquisitions Into a Single System


The Challenge

A global provider of financial technology (FinTech) solutions needed to consolidate the IT architectures of its more than 44 acquired companies and business divisions worldwide and transition them to a single, unified Oracle platform.


Our Approach

Cognizant's banking technology team recommended a multi-year, multi-phase rollout with globally deployed teams to migrate all of the FinTech’s global operations to a single Oracle E-Business Suite platform. This approach entailed:

  • Enabling new modules across record-to-report, order-to-cash, procure-to-pay and project-to-profit work streams
  • Redesigning and restructuring the chart of accounts to make it global and scalable for future operations
  • Migrating from the existing Oracle Discoverer reporting platform to the industry-leading Oracle Business Intelligence Enterprise Edition
  • Consolidating general ledgers and operating units (OUs) into existing ledgers/OUs, and setting up new secondary ledgers and OUs
  • Integrating Quantum, Transcepta, TraxSolutions and SAP Ariba applications
Improved Finance Reporting for Management

The resulting standard enterprise structure—ledger, legal entity, OU and chart of accounts—accelerates the integration of acquired companies with a single standard process and playbook approach that reduces time and costs.

 

Faster

response to changes in market

Enhanced

governance and policy enforcement

Better

transparency and operational performance

Broader

project costing, program planning and delivery


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