MillenniumIT ESP to Power Process Automation with Oracle Cloud Applications
Sri Lanka’s technology giant turns to Oracle for process efficiency and technology transformation
MillenniumInformation Technologies (Pvt) Ltd (MillenniumIT ESP), one of Sri Lanka’s leading information systems solutions providers, has gone live on Oracle Enterprise Resource Planning (ERP) Cloud to help simplify its business processes and increase visibility into its financial operations. The project was completed in 10 weeks and has enabledMillenniumIT ESP to reduce IT complexity and increase employee productivity by helping to automatepreviously manual processes and improving decision making through advanced data analysis.
In December 2017, Lanka Century Investments PLC. (LCI), a conglomerate reputed for its market dominance in manufacturing, real estates and strategic investments, acquired a 100 percent stake of the global IT enterprise solutions provider, MillenniumIT ESP from London Stock Exchange Group (LSEG). With this acquisition, it was mandatory that MillenniumIT ESP deploy its own ERP system and it needed to go live within a short span of time to ensure uninterrupted continuity of business.
“Post-acquisition we recognized the need to have a comprehensive process automation that will significantly enhance the efficiency of our internal processes,” said Mr. Murali Prakash- Group Managing Director/Chief Executive Officer, Lanka Century Investments PLC and Director, Millennium Information Technologies (Pvt) Ltd. “Being a Platinum level member part of the Oracle PartnerNetwork for more than a decade now, it was a straightforward decision for us to implement Oracle, as we felt that they could deliver the end-to-end solutions we needed without any need for customization to fully embrace Oracle’s cloud capabilities. With the time limitations we were facing, we wanted to embrace industry best practices, connect disparate applications, improve productivity and decision-making at the earliest and Oracle just assisted us easily and efficiently. ”
MillenniumIT ESPdeployed Oracle ERP Cloud to help modernize its finance, procure to pay, order to cash and expense management as part of its forward-looking business applications roadmap. The new cloud modules integrated virtually seamlessly alongside MillenniumIT ESP’s existing Oracle’s E-Business Suite, providing agility, mobility, faster time to market and simplified processes. Oracle Financial Cloud isan ideal fit for MillenniumIT ESP and enabledit to fully automate processes, help improve efficiency andspend less time on entering and processing data and more time analyzing it.
“Organizations around the world rely on Oracle Cloud Applications to help streamline and optimize financial processes,” said Chandita Samaranayake, Head of Applications Business – Oracle Sri Lanka, Indochina & Maldives. “By modernizing ERP in the cloud,MillenniumIT ESP’s finance teams can free themselves from routine transactionprocessing and devote more time to working as strategic partners to the business, helping the management to make more informed decisions.”
Oracle ERP Cloud includes a comprehensive, integrated suite of applications that provide complete end-to-end financial supply chain orchestration and new capabilities to support full multichannel order management, manufacturing and planning. Oracle ERP Cloud brings the simplicity of the cloud to help empower business users. A moreunified user experience, advanced/embedded reporting, and social and mobile capabilities mean greater value for organizations, employees and customers.
Other modules deployed by MillenniumIT ESP were Oracle Purchasing Cloud and Oracle Inventory Management Cloud. The contract was awarded to Oracle in January 2018and MillenniumIT ESPwent live on 2nd April,2018.
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