Consultancy giant KPMG has deployed Oracle ERP Cloud to Australian life insurance and wealth management provider Clearview, replacing an older version of Oracle’s Peoplesoft ledger platform.
KPMG performed the migration over five months, using its Oracle Cloud Implementation methodology. Through this framework, the consultant migrated seven years of Clearview's data into Oracle ERP Cloud and on-premises systems.
The core processes shifted include general ledger, accounts payable, fixed assets and tax data.
KPMG technology partner Julian Edwards said the project represented a significant step for systems integration.
"This is a real first for the Australian market. We have proven that the days of 18 months of mega implementations of back office systems are long gone. KPMG and Clearview were able to roll out Oracle ERP Cloud in just five months," he said.
"Clearview was able to move from an old version of PeopleSoft to the leading cloud financials software in a hugely effective manner. The ease of the transformation, coupled with the value it unlocks, will make a compelling case for many Australian businesses."
Oracle ANZ ERP general manager Thomas Fikentscher said the year-on-year growth Clearview was experiencing was at odds with its outdated technology stack.
"They needed a solution that had the capacity to provide flexible business driven knowledge through analytics and strategic business intelligence, allowing them to take action today and plan for tomorrow.
"Within five months, KPMG’s implementation delivered Clearview standardised business processes, which will provide them seamless upgrades multiple times a year, ensuring modern best finance practices are always at the company's fingertips."
Clearview chief financial officer Athol Chiert said the inaugural deployment would pave the way for his company to evolve as a business, as the software remains up-to-date and low maintenance.
"The solution will always be up-to-date, our data is clean, and we will now only need very limited third-party vendor support. Most importantly, our finance teams will be able to free themselves from pure transaction-processing activities and devote more time to acting as strategic partners to the Clearview business," he said.