Credicorp Capital builds for growth with Oracle Cloud ERP
The investment bank uses Oracle Cloud ERP, EPM, and Oracle Customer Success Services to help standardize processes and technology across regions.
“With Oracle Cloud ERP and EPM, we’re now able to work in a more efficient way, in a more standard way that allows us to be more effective, to have fewer errors, and even do things faster.”
Business challenges
Credicorp Capital is a regional investment management and advisory company that provides services including asset management, capital market, wealth management, and trust. The company operates in Peru, Colombia, Chile, Panama, the United States, and Mexico. Until recently, each company had its own way of operating—processes, technology, and even culture. To power future growth, Credicorp Capital began developing a single operating model, supported by standardized processes and technology, that could be used in each of its markets. Standardizing the company’s back-office applications was one key piece of this strategy, because it would let Credicorp Capital deliver a more seamless experience to customers wherever they are.
Oracle Customer Success Services helped us from the very beginning. They understood our pains, our objectives, our strategy.
Why Credicorp Capital chose Oracle
Credicorp Capital chose Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Oracle Fusion Cloud Enterprise Performance Management (EPM) because Oracle had a clear cloud strategy and an international reach, so the financial firm could scale the cloud services across its regional operations. The company also valued the support Oracle Customer Success Services could provide, from the due diligence process, through implementation, and ongoing innovation. Oracle Customer Success Services knew the product and had regional reach, which is important for multi-country operations.
Results
After implementing Oracle Cloud ERP and Oracle Cloud EPM, Credicorp Capital standardized key processes, including in accounting, accounts payable, accounts receivable, and purchasing. The company implemented Oracle Cloud ERP and Cloud EPM in its Colombia operations, with other regional operations on track for implementation. The firm now has one operating model with a consistent technology platform that it can use across the region. Creating a centralized back-office operation based on Oracle Cloud was a key part of the company’s strategy to create a unique operating model that better serves its customers. Having that operating model based on Oracle Cloud ERP also will make it easier to merge operations if Credicorp Capital decides to acquire companies as part of its growth strategy.
Partners
Credicorp Capital worked closely with Oracle Customer Success Services during the due diligence and initial implementation of Oracle Cloud ERP and Oracle Cloud EPM. The teams continue working together on regional implementations and ongoing innovation.
About the customer
Credicorp Capital is a financial holding company dedicated to the provision of financial services across Latin America.