Financial service organisations, from banks, asset managers, private equity funds, insurers and more, face a myriad of business disruption and risk in the current economic climate. The Allianz Risk Barometer 2023 survey, carried out by 2,712 risk management professionals, from 94 countries and territories, identifies some of the most significant risk trends. The survey highlights the most important global business risks, with cyber incidents ranked as number 1, followed by business interruption, macroeconomic developments, energy crisis, changes in legislation and regulation, climate change and more.
Financial service organisations require a financial management solution that helps protect them from such risks and meet ever-growing, complex demands. They need a solution that enables them to fully utilise their data, take on new business opportunities and gain competitive edge. It is also crucial for all financial service organisations to ensure transparency and accuracy for the sake of their profitability, reputation and longevity. The services and solutions we deliver here at Eclipse all focus on minimising risk, maximising efficiency and providing unprecedented visibility into all aspects of an organisation’s business systems. We partner with Infor to deliver an application set which has been specifically designed to drive value across all aspects of a financial services organisation.
Infor’s industry-based strategy is built into the Infor CloudSuite family of applications and enables financial service organisations to gain deeper insights into their business performance and productivity. Infor SunSystems, the market leading financial management application has always been a trusted solution for financial service organisations, helping them to achieve the timely, accurate and compliant information they require. SunSystems Cloud, the latest release of the market leading financial erp system, is a game changer for organisations of all sizes, in all industry sectors, but especially for financial service organisations, for reasons explained below. The 100% cloud erp solution is powered by the Infor OS enterprise application platform, which is also Infor’s iPaaS software. Organisations can work faster, more effectively and efficiently than ever before with increased integration between modules in the Infor CloudSuite family and other external business systems, as well as benefit from enhanced collaboration and security features.
We consider SunSystems Cloud a great choice in terms of ERP for financial services and here are some key reasons why:
- Security - In cloud-based SaaS environments, infrastructure and application security are managed by the service provider, whose dedicated resources can continuously monitor systems for security threats and respond quickly to any risks. The Infor Cloud, powered by Amazon Web Services (AWS), is highly secure, helping organisations to keep mission-critical business systems and data up-to-date and secure. It provides security tools against cyber-attacks and natural disasters. SunSystems Cloud supports ongoing security compliance and governance requirements, with security and compliance updates pushed out automatically to the whole organisation. This is especially helpful for multinational organisations as regulatory and compliance challenges can be even more complex and costly.
- Business continuity – AWS ensures high system up-time levels, with redundant infrastructures and backups. SunSystems Cloud and all the applications in the Infor CloudSuite help organisations to continuously innovate without disruption. Applications are available 24/7, regardless of location or type of device used. They can act on new opportunities and grow in today’s fast-moving environment, giving them competitive edge over organisations without such continuously available technology.
- Agility - SunSystems Cloud is an agile platform which enables organisations to respond swiftly to emerging challenges, opportunities, and changing organisational requirements. Organisations can scale quickly, for example they can add new geographical financial units easily without having to add costly infrastructure. If an initiative succeeds, it can be scaled seamlessly to a wider audience.
- Digital transformation - Infor OS enables organisations to take advantage of new, disruptive technologies and innovative functionality more quickly and cost-effectively than ever before. Organisations can embrace digital transformation as they have the tools required to react quickly to ever changing industry and market changes. Employees can collaborate easily for more informed business decisions and increase productivity with the solution’s modern and intuitive user interface.
- Reporting – SunSystems has always been a great choice for financial service organisations in terms of its strong multi-reporting and flexible analysis capabilities. The solution enables organisations to carry out ad-hoc or period-end reporting with ease. It provides multi-language, multi-entity, and multi-currency functionality, with up to 5 reporting currencies per transaction. Data can be consolidated from multiple business units with a different base or reporting currency. Furthermore, there are attractive, interactive dashboards where data can be viewed in real-time for enhanced decision making. Organisations can also access a wide range of pre-built reporting templates, which are compliant with the latest regulations, such as GAAP and IFRS. In addition, the associated Infor Enterprise Performance Management solution (Infor EPM), which integrates seamlessly via Infor OS, provides in-context analytics and business intelligence capabilities.
- Integration - SunSystems Cloud seamlessly integrates with other Infor and third-party business applications, such as Infor EPM and Infor Document Management (IDM), via Infor OS and the Infor ION advanced middleware platform (iPaaS software). Organisations can create workflows and alerts, manage business processes without help from IT, connect applications to their business processes and monitor their entire business. This can help them to eliminate operational silos, improve exception management and significantly improve operational efficiency.
We have been working with organisations operating in the financial services industry for over 35 years. We have a strong track record of implementing and supporting market leading financial and business management solutions to a wide range of financial service organisations operating world-wide. We are currently working with our clients on their transition journeys to cloud-based SaaS and are already seeing them reap the benefits of SunSystems Cloud.
For further information on cloud ERP for financial services, or to find out more about SunSystems Cloud and the organisations we have helped, please call +44 (0)203 866 8800, send an email, read the, 'Infor solutions for the financial services industry' brochure, or download the Infor whitepapers:
