oasis leasing adopts unique leasing management solution from oracle
- India’s TCS customizes the new package for Oasis -
Oasis International Leasing Company PJSC announced today that it had become the first leasing company in the world to adopt a unique integrated software solution for the leasing industry.
The project went live in July and was completed in partnership with Oracle, the world’s largest enterprise software company, and Tata Consultancy Services (TCS), a leading IT services, business solutions and outsourcing firm based in India, with operations across the world.
Designed for asset-based finance companies, Oracle Lease Management (OLM) is a comprehensive application that leverages the power of the Oracle E-Business Suite. It is designed to help increase operational excellence and discipline, capture new markets and optimize business relationships. OLM provides end-to-end automation, from sales and contract origination through remarketing and asset disposition.
The programme has been integrated with SuperTRUMP as the price engine, and Oracle Financials. The combination of SuperTRUMP, a leading lease pricing software, and Oracle Financials, which automates and streamlines financial business processes, will enable Oasis to function more efficiently across the spectrum of costing and analysis functions that are vital in the leasing business.
TCS leveraged its established and dedicated Oracle service practice and Travel & Hospitality industry practice to deliver the solution as per the specific leasing and financing requirements of Oasis Leasing. The TCS team of consultants spent five months on-site to implement the project and provide training for Oasis staff.
Salem Rashid Al Noaimi, Acting CEO of Oasis Leasing, said: “It is a matter of pride for Oasis Leasing, and the UAE, to become the first leasing company in the world to implement this leasing management solution. As a company that is targeting significant growth, we are investing in projects that will help our growth, and enhance productivity and efficiency, benefiting us as well as our customers. Oasis Leasing wants to be known in the global industry as a company that will be identified with best practices.”
Al Noaimi also expressed his appreciation of the support extended by Oracle and the excellent teamwork of TCS consultants in implementing the project.
Ian Jones, the Financial Controller at Oasis Leasing, who also managed the project said: “We asked TCS to integrate the standard Oracle solution with SuperTRUMP in order to meet Oasis’ requirements. As a result, the OLM has made Oasis’ leasing business considerably more efficient. This integrated solution has helped us to reduce administrative time and cost while enabling quicker transactions."
Arun Khehar, Vice President, Private and Manufacturing from Oracle Middle East and Africa (MEA), said: “We are pleased that Oasis Leasing has recognized the potential of OLM. With this Oracle solution in place, they will now be able to create a structure that is more streamlined, proactive, and much more cost-effective.”
Said Manoj Sahai, TCS Regional Director - Middle East & Africa: "TCS is delighted to be associated with Oasis on this project. The combination of TCS’ strong domain knowledge, system integration and consulting capabilities represents a winning combination for all leasing companies. Through this project, TCS has demonstrated how effective deployment of IT in complex business scenarios can provide real-world business benefits."
"We are thrilled to have SuperTRUMP live at Oasis," stated Chris Ivory, founder and principal of Ivory Consulting for SuperTRUMP. "Oasis is the first Ivory customer based in the Middle East, and their innovative use of our software should streamline operations and provide a competitive advantage in pricing transactions. We look forward to working with Oasis, TCS and Oracle to ensure the continued success and growth of this combined solution."
