Clearview Wealth Management replaced their legacy general ledger platform with the next generation of cloud-based technology, using KPMG technology enablement implementation services. ClearView implemented Oracle’s ERP cloud solution enabling them to transform the effectiveness and efficiency of their financial process.
ClearView, a specialist in the manufacture of life insurance and wealth management products and a provider of financial advice solutions to its clients, has successfully deployed Oracle Enterprise Resource Planning (ERP) Cloud using KPMG implementation services. The result is the replacement of their legacy general ledger platform with a next generation platform transforming the effectiveness and efficiency of their financial process.
“The move to a cloud-based solution is more than just an upgrade of a legacy general ledger platform, it paves the way to truly evolve how we operate as a business,” said Athol Chiert, CFO of Clearview. “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.”
KPMG delivered the cloud platform in just 5 months using the KPMG Oracle Cloud Implementation methodology, which is designed for accelerated cloud transformation. The KPMG Integration framework and KPMG data migration framework allowed the rapid migration of 7 years of ClearView’s heritage data into the Oracle ERP Cloud and integration into a range of on-premise systems.
Multiple core processes, including general ledger, accounts payable, fixed assets, and tax were implemented on Oracle’s industry-leading ERP Cloud platform, creating a single source of truth for financial data. Additionally, ClearView will benefit from Oracle’s ability to scale to accommodate their growth, ready access to new functionality deployed through the cloud, and real-time reporting and analytics on live financial information – resulting in up-to-the-minute insight into profitability and performance.
Julian Edwards, KPMG Technology Partner, says “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 5 months. 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.”