Case Study
Marsh Australia is one of the world’s leading insurance brokers and risk advisors. They operate in more than 130 countries and have 40,000+ colleagues working with them. They provide their commercial and individual clients with insights, advice, and support in the local markets in which they operate or where their business may face risks.
Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm providing insights on risk, strategy, and people. With annual revenue approaching USD 19 billion and 81,000 colleagues worldwide, MMC helps their clients in today’s dynamically changing and evolving environment through its four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman.
The Pacific region of Marsh includes operations in Australia, New Zealand, Fiji, and Papua New Guinea.
Over the years, Marsh Australia has acquired a number of companies who had their own fiduciary systems. Since they operated as independent entities or administered funds on behalf of other groups, it was not possible for them to use the Marsh group fiduciary systems.
Marsh Australia was already considering moving from its existing on-premise legacy systems to a Cloud system in order to adopt modern practices as well as maintain the financial details of different entities. This would directly impact their agility and future growth strategy.
With the Oracle Cloud transformation, they were expecting to align with the Oracle Cloud applications that are being used by their parent group Marsh & McLennan Companies (MMC).
Evosys Team replaced a number of financial systems that were being used across the business entities in different parts of Australia. The data is migrated and is now hosted on modern Oracle Cloud Applications.
The new cloud system was designed to ensure a deeper and richer enterprise hierarchy for the Public Sector Mutual and JLT Group Services. This was to ensure that they move seamlessly away from their current single entity set-up to a more agile system ensuring cross-organization and cross-business collaboration.
Leveraged Oracle Cloud applications native capabilities ensured elimination of the multiple customizations, that risked data accuracy, from the on-premise legacy system.
To enhance and improve the reporting capabilities of the system Oracle Transactional Business Intelligence (OTBI), Oracle Smart View, and Oracle Hyperion Financial Reporting Studio (HFRS) were integrated.
Marsh was running their financials on a burning platform and that needed to retire. Evosys in conjunction with Marsh was able to deliver the project within a 12-week deadline and was able to move from the legacy platform to Oracle Cloud ahead of time.
The rich, easy-to-use and easy-to-navigate UI of the new Oracle Cloud system showed increased improvement in the user experience as well as application adoption and usability.
Increased automation of the journal entry reduced manual, iterative and repetitive tasks.
Evosys' design principle of ADOPT approach, and not ADAPT, helped us achieve a sustainable solution.
We followed a solution-centric approach and demonstrated best business practice in order to deliver the final system.
On time and on budget delivery.
Marsh was able to quickly realise that the Evosys implementation approach leverages on pre-built configuration to accelerate delivery timelines, reduce delivery risk and enable the rapid establishment of a 'future fit' organization.
Evosys team has a very good relationship with Marsh’s sister company Mercer Australia which helped us gain trust and valuable recommendation.
Evosys has worked globally with over 140 financial services customers for Oracle Cloud implementation and other services.
Evosys did provide a cost-effective implementation proposal which is based on a fixed price fixed scope offer that provided certainty to Marsh and was perceived as a low-risk option by Marsh.
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