Nuvama bolsters productivity and compliance with Oracle Fusion Cloud ERP

Nuvama Group is a technology-driven financial services company offering wealth and asset management, investment banking, and brokerage in India. The industry is highly regulated, and has strict data retention rules. After its previous software system led to compliance challenges and issues with scalability, performance, and infrastructure management, Nuvama implemented Oracle Fusion Cloud Enterprise Resource Planning (ERP). The cloud ERP system simplified integration with more than 30 systems and eliminated extensive database administration, server management, and patching overhead. The company estimates it has experienced a 25% boost in employee productivity and a 30% improvement in process efficiency, and it now has the ability to scale up or down instantly to quickly adapt to business changes.

After separating from Edelweiss Securities into an independent entity, Nuvama needed a robust, secure, and compliant business management platform that could integrate with its existing systems and support the company’s strategic goals. Its previous on-premises ERP lacked strong transaction controls and caused difficulties in efficiently meeting regulatory reporting requirements. It also required manual management of patching, server maintenance, and database administration, making it difficult to upgrade to newer features and keep infrastructure costs low. The company struggled with integration and scaling the system to meet growing transaction volumes. Employees faced issues with application speed and performance, which hurt productivity.

After evaluating leading systems in the market, Nuvama chose Oracle Fusion Cloud ERP for capabilities such as prebuilt templates for Indian regulations and the ability to handle complex reporting requirements. The system allowed for easy integration with the company’s existing applications and technology, which helped reduce customizations and allowed the company to scale resources up or down as needed.

Wealth management is a growing and highly competitive industry in India, so Nuvama leaders felt pressure to come up with new products to stay ahead of the competition. Migrating to Oracle Fusion Cloud ERP simplified data retention, infrastructure management, and integration, allowing the company to focus on strategic business initiatives and develop innovative products and services rather than spend time on managing technology.

Using Fusion Cloud ERP, Nuvama improved efficiency, strengthened compliance and control, and gained a financial management environment ready to handle increased business volumes. Fusion Cloud ERP helped the company address regulatory compliance by providing automatic updates when regulations changed, reducing manual interventions that could lead to compliance errors. It also delivered sophisticated data retention capabilities and gave instant access to financial data for potential regulatory reviews. The company now has a stable, compliant platform to help bolster business growth.

Fusion Cloud ERP also increased efficiency for key processes. For example, accounts payables and receivables efficiencies rose by about 30% and 100% of system integrations were automated. In addition, employee efficiency climbed by about 25%, thanks to reduced manual data processing and spreadsheet work and faster application performance.

With Oracle Fusion Cloud ERP, the company can implement advanced capabilities at about half the cost of its previous in-house systems. Oracle Cloud Infrastructure integration services connected the company’s other systems to Oracle Cloud ERP, removing complex customizations that slowed system updates and hindered innovation. The shift to a cloud application eliminated the need for extensive database administration and server management, helping to reduce IT maintenance and overhead. And unlike its previous on-premises system, Oracle Fusion Cloud ERP provides regular online updates that deliver new features.