Republic of Nambia’s Government Institutions Pension Fund Automates and Centralized Processes for Improved Pension Fund Management
 
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Republic of Nambia’s Government Institutions Pension Fund Automates and Centralized Processes for Improved Pension Fund Management

The Government Institutions Pension Fund (GIPF) is the Republic of Namibia’s managed pension fund. It was founded in 1989 and works to deliver the highest quality of service to its stakeholders in an innovative, professional, and respectful manner. Under the mission to safeguard and grow the fund for the benefit of its stakeholders and Namibia, the fund provides retirement, death, and ancillary benefits to its beneficiaries.

 
 

 
 

Challenges

A word from Government Institutions Pension Fund

  • "With Oracle, we had the winning combination of leading technology and a strong team to deliver an automated and centralized system that is secure, efficient, and manages human resources, finance, and our pension-fund payments. We also have peace of mind that we are future-proofed with a robust and scalable solution from a single, trusted vendor.” – Dieter Steinbach, General Manager, IT, Government Institutions Pension Fund

  • Consolidate disparate systems, and integrate payroll, human resources (HR), and finance onto a single platform to eliminate constant delays in productivity and pension payment processing due to poor reconciliation between multiple, isolated applications
  • Integrate finance with the core pension management system to ensure timely, accurate, scheduled, and easily reconciled payments to 40,000 pension accounts
  • Provide tighter budgetary control, accuracy, and accountability to facilitate retaining regulatory compliance around pension fund management
  • Automate HR and introduce e-learning to reduce training time and increase skills, such as through a performance management course relevant to promotion in professional services
  • Deploy enterprise resource planning affordably and accountably to the fund’s stakeholders by working with locally committed and responsible technology providers

Solutions

  • Implemented Oracle E-Business Suite Release 12.1 with Oracle Consulting and Oracle partner Silnam IT Solutions to deliver an integrated financial and HR system with a centralized data repository and single-source reporting to enable accurate audit trails, robust reporting, tighter controls, and delivering improved scalability for the organization
  • Integrated the company’s core pension fund financials with Oracle E-Business Suite, linking and tracking all payments, while introducing an electronic, fund transfer module to automate payments to beneficiaries’ banks, including FNB Namibia and NamPost
  • Introduced new budgeting processes with Oracle Financials, gained electronic sign-offs, and eliminated manual input—reducing errors, tracking pension payment processing times, and managing 90,000 members in compliance with Namibia Financial Institutions Supervisory Authority regulations
  • Automated HR processes and improved accuracy of HR data, including time tracking and leave requests, while eliminating HR department overtime
  • Implemented e-learning with Oracle Learning Management to cut training travel time and expenses, deliver training more consistently and effectively, and introduce new courses more efficiently
  • Selected both Oracle and Silnam IT Solutions, not only because the partnership provided the best product-stack and integration expertise, but because rival bidders, like SAP, could not offer local support nor the Namibian technical staff valued by GIPF, essential for rapidly understanding the country’s culture and governmental agency practices

Why Oracle

GIPF selected Oracle E-Business Suite and Oracle Database because of Oracle’s deep experience in delivering integrated enterprise systems and its unrivalled local reputation for delivering successful projects in regulated financial industries and for public sector organizations.  

“We are committed to the Namibian community, so it was important that we worked with a company that had a solid reputation, plenty of experience working in Namibia, and could deliver a comprehensive and integrated solution that would cover HR, finance, and management of our pension fund. Oracle met all of those needs and provided strong local partners, such as Silnam Solutions,” said Dieter Steinbach, general manager, IT, GIPF.

Implementation Process

GIPF started the implementation with an upgrade to Oracle Database, 11g and later deployed Oracle E-Business Suite 12.1. It worked with Oracle Consulting, Oracle reseller partner Silnam Solutions, and harnessed expertise from Oracle E-Business Suite implementation services.

Partner

Namibian-based Silnam IT Solutions is an Oracle, specialized, software and hardware, value-added reseller that is skilled in supplying IT solutions based on industry best practices and in delivering training and local support.  

“It fit our organization’s values and mission to work with locally committed suppliers with a Namibian presence, so we partnered with Silnam Solutions alongside Oracle Consulting to upgrade our Oracle Database and to install Oracle E-Business Suite components. Both companies have an impeccable record of working with financial systems and delivering government projects, and they delivered an integrated system on time, on budget, and in-line with our organizational goals. Our CIO said that it was one of the smoothest implementations he has ever experienced,” Steinbach said.