Apollo Health Integrates Oracle Cloud ERP To Optimise Financial Operations
By using the Oracle cloud solution, 'we can simplify finance processes and increase business agility', the CFO says.
Retail healthcare company Apollo Health & Lifestyle Ltd. has integrated Oracle Fusion Cloud Enterprise Resource Planning into its financial operations with the objective of optimising them and increasing productivity.
Using Oracle Cloud ERP, the company aims to eliminate manual processes, improve speed and accuracy in reporting, align financial and operational planning, and gain insights to drive better decisions.
Its finance and operations data were dispersed across multiple siloed on-premises applications, making it challenging to get accurate real-time information, the company said.
"Innovating our financial operations through technology is pivotal for sustaining the growth trajectory of our entire organisation," Chief Executive Officer Sriram Iyer said. "By integrating Oracle Cloud ERP into our operations, we aim to fortify our financial infrastructure, ensuring agility and efficiency across their business verticals."
By using the Oracle cloud solution, "we can simplify finance processes, increase business agility and improve business decisions so employees can focus on providing the best care to our customers", Chief Financial Officer Ashish Maheshwari said.
Through Oracle Fusion Cloud Enterprise Performance Management, part of Oracle Cloud ERP, the organisation will also aim to improve the speed and accuracy of financial reporting, reduce the time to close the books, and enable senior leaders to make better decisions.
"India is experiencing a surge in healthcare service demand, which requires healthcare providers to fortify infrastructure, optimise business processes and adopt cutting-edge technology, such as artificial intelligence," Deepa Param Singhal, vice president of cloud applications at Oracle India, said.
"Oracle Cloud ERP underpins Apollo Health & Lifestyle’s growth agenda by automating its finance function, elevating overall business efficiency, and enabling it to continually innovate and introduce new services for the betterment of our nation's health," Singhal said.
The healthcare delivery market in India is growing fast with rising income levels, changing preferences of consumers preferring preventive care vs. prescriptive care, and increasing market penetration of health insurance, according to Hirak Kayal, partner, technology consulting, at PwC India, an Oracle partner that implemented the project.
To meet this demand, Apollo Health & Lifestyle needed to have an efficient and scalable back-office operation, in which business processes could be digitalised so productivity could be enhanced, according to Kayal.
By implementing Oracle Fusion Applications and integrating it with several HIS platforms, we were able to meet this requirement and also ensure all AHLL business entities were gaining business benefits, he said.
