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Company Overview
Established in 1901, this well-capitalized community bank has over $4 billion in assets. It operates more than 340 locations across Texas, Arizona, Arkansas, and New Mexico, providing financial products and services. The bank offers a variety of personal and business banking solutions, including checking and savings accounts, loans, credit cards, and mortgages. With a commitment to customer service, it ensures that 93% of its customers’
deposits are fully insured by the FDIC.
Challenge
Our client relies on a series of aging on-premise Hyperion Planning and Essbase reporting applications. On-premise applications not only require infrastructure and security maintenance, but also do not typically receive the benefits of new product functionality including an entirely new interface, fully functional dashboarding, mobile device support, smart push, enhanced data management, and enhanced Hybrid Essbase functionality to name a few.
Solution
With EPM cloud licensing, we are able to quickly and seamlessly move existing application configuration and data content to Oracle’s Cloud environment. Enterprise Cloud environments ensure that our client receives immediate access to all monthly functionality enhancements. Cloud environments also remove client requirements for monitoring and maintenance of infrastructure performance as these functions are performed proactively by Oracle.
Result
Olympus was able to successfully rationalize and migrate 14 existing on-premise applications to 8 Oracle Cloud EPM applications while converting each application to hybrid mode. This enabled faster access to aggregate level data without the need for outdated calculation scripts and business rules. In addition, we reduced the client’s physical server footprint resulting in reduced IT maintenance.
