With operations in the United States, Asia, Europe, and Latin America, Prudential provides customers with a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management.
Prudential offices in Argentina had grown in recent years in terms of distribution channels and lines. Its previous systems had made it difficult for the company to scale and easily exploit the data it generated. Integrations with satellite systems were also a significant challenge.
Prudential uses Oracle E-Business Suite worldwide, but the Argentinian subsidiary was concerned with having accurate corporate reporting on time, and was looking for a best-in-class ERP system that would allow the company to transform processes and meet global operational requirements.
I certainly believe the decision to choose Oracle Cloud ERP was right. Quick access to data, the integration capabilities, the reduction on technical costs and, mainly, getting the latest software updates every 3 months have been some of the benefits.
Head of Finance, Prudential Argentina
Prudential Argentina chose Oracle Fusion Cloud ERP and Oracle Procurement to integrate with other company systems. The company determined that Oracle Cloud ERP and Oracle Procurement could be implemented quickly and provide fast access to data, improve reporting, reduce technical costs, and offer access to the latest software releases.
After adopting Oracle Cloud ERP, Prudential Argentina could seamlessly file annual taxes, make payments to clients, and send annual reports to headquarters in the U.S. in a timely manner. The company was also able to lower the total cost of ownership compared to on-premises systems and bring more efficiency to its operations.
In addition, Prudential Argentina improved reporting with simplified access to data and automatic integrations with banks and other systems. With a complete view of its financial position and results, the company can now respond quickly to changes in the financial services industry and easily meet tax compliance standards, despite demanding local requirements.
Prudential Argentina chose ITCROSS as its implementation partner. ITCROSS offered local expertise as well as solid global experience and efficiency for design, development, and implementation. ITCROSS has offices in the U.S., Spain, Argentina, and Mexico.