The Bombay Stock Exchange has successfully deployed Oracle software, giving the exchange a single integrated system that should help streamline its financial accounting and human resource management processes.
The Bombay Stock Exchange (BSE), the oldest stock exchange in Asia, has deployed Oracle Financials Suite and Oracle HRMS. As part of the implementation process, Patni Computer Systems undertook a detailed exercise to understand the existing legacy system at BSE and devised a two-phase change management roadmap to migrate the exchange’s financial accounting and HR accounting to the enterprise resource planning (ERP) system.
With the ERP system, BSE is able to get detailed transaction-wise data, soft-close its accounts on a monthly basis and generate monthly MIS reports. Patni has also developed a web-based application that assists in tracking issues raised by users.
BSE claims to have already started experiencing significant benefits through the ERP implementation with the automation of its HR and accounting processes.