The London Stock Exchange Group (LSEG), a global financial markets infrastructure and data provider, has selected Oracle Cloud to transform its finance operations. With Oracle Fusion Cloud and Oracle Financial Services Applications running on a unified platform, LSEG will be able to increase efficiency, reduce costs, and improve its financial planning, forecasting, and controls.
Following recent acquisitions, LSEG saw the opportunity to streamline its operations to enhance business insights and drive profitability across its lines of business. To create a global platform for future growth, LSEG decided to replace its 17 legacy finance systems with Oracle applications.
Commenting on this, LSEG group head of transformation, Joanna Fielding, said: “We are on a mission to drive sustainable growth for our customers and across our entire business. To do that, we must embrace continuous innovation across our operations, including Finance.
“With Oracle Cloud, we will be better able to align our financial operations to enhance performance, make better use of data, increase efficiency, and streamline billing – all while delivering outstanding service to customers.”
Oracle Fusion Cloud Enterprise Resource Planning (ERP) will enable LSEG to automate financial processes and streamline global procurement processes. Oracle Fusion Cloud Enterprise Performance Management (EPM), part of Oracle Cloud ERP, will also enable LSEG to align financial and operational planning, optimise forecasting and scenario planning, and increase the speed and accuracy of reporting. Oracle Revenue Management, Pricing, and Billing will help automate LSEG’s billing processes, unify its billing operations on a single platform over time, and power a customer-centric pricing strategy to accelerate time-to-market for new products and services while improving the customer experience within a tightly regulated industry.
Oracle EMEA executive vice president, Cormac Watters, concluded: “Global organisations are prioritising efficiency and automation to maximise profitability across their revenue streams and better serve their customers.
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“With Oracle Cloud, LSEG has an integrated business platform that will shape its future growth with scalable, sustainable financial efficiency, and insights that will help it serve its more than 45,000 customers globally.”