Indonesia’s largest digital payments platform moves core financial systems to the cloud
Qinthara Fasya | 11 August 2021
PT Visionet Internasional (OVO) has selected Oracle Fusion Cloud Enterprise Resource Planning (ERP) to support its mission to drive financial inclusion in Indonesia. With Oracle Cloud ERP, OVO can streamline integration of its core financial systems with its customer-facing application, providing OVO with visibility across finance, procurement and reconciliation processes.
As the world continues the fight against COVID-19 and the idea of a digital economy becomes a necessity with lockdowns and social distancing measures becoming the norm, OVO’s mission to drive financial inclusion in Indonesia through digital payments becomes even more important. The shift to Oracle Cloud ERP will provide us with a more holistic view of our financials, enabling us the scalability and flexibility to make data-driven decisions around growth and innovation.Sharly Rungkat, Chief Financial Officer, OVO
OVO, Indonesia’s only fintech unicorn and the leading digital payments platform in Indonesia, is available on 115 million devices nationwide. Since OVO’s establishment in 2017, the company has developed a reputation for agile execution, underpinned by a robust framework of checks and balances. As OVO continues to add new businesses, expand and accelerate in transaction volumes, more robust reporting and forecasting have become increasingly important. To support its continued growth, OVO made the decision to move its financials to Oracle Cloud ERP.
“After looking at several tech partners to upgrade our financial systems, we chose Oracle Cloud ERP for its secure and scalable applications that align with international accounting standards. The shift to the Cloud will allow us to create a seamless, end-to-end process across our financial operations, and increase synergies between our back-office and customer-facing operations with real-time insights,” said OVO CFO Sharly Rungkat.
Oracle Cloud ERP is designed to help organizations increase productivity, lower costs, and improve controls. With Oracle Cloud ERP, OVO can gain a more complete view of its finances and operations, empowering the company to quickly respond to changes in the market, and serve its users better.
“As a digital native, OVO understands the importance of a unified business platform and staying ahead of the curve through constant innovation. With Oracle Cloud ERP, OVO can leverage the most advanced technology in the cloud, with a complete view of their financials to help drive business growth. Together, Oracle and OVO can enable the company’s mission to drive financial inclusion in Indonesia,” said Iman Muhammad, head of applications, Oracle Indonesia.
OVO is the leading digital payment, rewards and financial services platform in Indonesia. OVO is present on 115 million devices and can be used to access payments, transfers, top up, and withdrawals, as well as asset and investment management. OVO is accepted in more than 426 cities in Indonesia and we are committed to building the largest financial payment and technology company in Indonesia.
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