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GFKL Financial Services AG, a holding company, is one of Germany's leading providers of receivables management services and software. In 2004, GFKL was the first German company to receive a servicer rating from Standard & Poor’s. Its rating, “strong, outlook stable,” was the highest possible servicer rating awarded, making GFKL one of four top-rated European companies in its class.
After many years of steady growth, GFKL found that its database infrastructure and enterprisewide reporting and financial management systems had reached their limits. The company embarked on an initiative to create a highly scalable data infrastructure and a standardized financial management environment for unification, greater transparency, and process efficiency.
GFKL looked to Oracle’s technology, solutions, and tools to optimize its data infrastructure, gain new financial insight, and improve budgeting processes. By the 2010 year-end closing, the outcome of GFKL’s strategic decision to deploy Oracle was already apparent. Using Oracle Hyperion Financial Management, GFKL consolidated data from all subsidiaries much faster than in years before, and the results were higher quality.
Due to a tremendous increase in data volume, scalability was mandatory for GFKL, so it chose Oracle as its strategic database partner.
During the selection process, GFKL found Oracle’s functionality, such as planning and reporting features, and project pricing was superior to other vendors. Oracle’s various packs ensured optimal usage and efficient administration of Oracle Database, Enterprise Edition 11g.