Colombo, 00300,
Sri Lanka
MillenniumIT ESP
MillenniumIT ESP, a prominent reseller, system integrator, and consulting company, that plays a vital role in numerous system integration and digital transformation initiatives. MillenniumIT ESP collaboration with software players such as Oracle empowers organizations to embrace disruptive technologies and accelerate their journey to the cloud, thus reshaping their business models.
| Logo | Customer | Industry | Empl. | Revenue | Country | Vendor | Product | Category | When | Insight |
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HNB Assurance | Insurance | 1400 | $160M | Sri Lanka | Oracle | Oracle Cloud ERP | ERP Financial | 2020 |
In 2020, HNB Assurance implemented Oracle Cloud ERP as a cloud-based ERP Financial core to simplify and streamline financial operations and support faster introduction of insurance products. Oracle Cloud ERP is positioned as the companywide finance platform to increase visibility into financial operations and support compliance with International Financial Reporting Standards 17, aligning finance controls with actuarial and product teams.
The deployment focused on automating finance workflows and strengthening financial reporting and analysis, using Oracle Cloud ERP capabilities for general ledger control, accounts processing, automated reporting and advanced data analysis. The implementation emphasized process automation and access to modern cloud technologies such as artificial intelligence, machine learning and chatbot enablement noted by the vendor, to improve decision support and employee productivity in finance and operations.
Oracle Cloud ERP was deployed as the core application across HNB Assurance PLC and its fully owned subsidiary HNB General Insurance Limited, expanding coverage across the companys life insurance product portfolio in Sri Lanka. The cloud architecture reduced IT complexity while creating a unified platform to merge disparate business processes, improving transparency and visibility of risk exposure for underwriting, finance and senior management.
The project was implemented in a condensed seven week timeline, with MillenniumIT ESP, a Platinum Oracle partner, delivering the rollout. Governance changes included consolidation of finance workflows and tighter financial controls to support regulatory reporting and faster market penetration, enabling the firm to offer new customized insurance solutions and serve customers more efficiently at lower cost.
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Buyer Intent: Companies Evaluating MillenniumIT ESP Services
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