LOLC gears for global expansion with Oracle Cloud | Sunday Observer

LOLC gears for global expansion with Oracle Cloud

LOLC, one of Sri Lanka’s largest non-banking financial institutions and conglomerates, has signed an Unlimited Licence Agreement with Oracle to access its Oracle Cloud Platform to facilitate global expansion. By deploying Oracle Cloud Platform, LOLC has migrated its on-premises core applications as it seeks to modernise its business.

With over 300 locations across Sri Lanka, and further global expansion planned, LOLC’s technology platform will support its plans for growth.

The company also needed help to standardise the Group’s operations to achieve cost savings and increase efficiency.

“The Unlimited License Agreement (ULA) has helped LOLC understand how we are really using our IT infrastructure, and identify consumption trends across the different business sectors we are currently active in,” said Kapila Jayawardena, Group Managing Director of LOLC. “This enables us to be more agile and take timely actions to support and enhance future deployments. We can also see where we are allocating licenses, so we can reduce risk related to unbudgeted license expenditures while we are on a journey towards global expansion.”

The Unlimited License Agreement (ULA), will give LOLC access to the comprehensive Oracle Cloud Portfolio, which includes a suite of next-generation integrated monitoring, management, and analytics cloud services.

By operating under a ULA, the organization will be able to extend the use of the Oracle Cloud Platform to any new acquisitions with no additional licensing requirements. LOLC is utilizing using Oracle Management Cloud’s Log Analytics, Application Performance Managementand IT Analytics services for in-depth analysis and monitoring of infrastructure and equipment in their data center.

“Operating different business verticals is a huge challenge for any organization. Finding a technology solution with a 360-degree insight into performance, availability, and capacity of applications and infrastructure investments was a top priority for LOLC”, said Prasanna Siriwardena, Chief Information Officer of LOLC Financial Services Sector.

“We believe that Oracle Cloud Platform has enabled our line-of-business and IT executives, analysts, and administrators make critical decisions about the IT estate that underpins their area of the business, helping us to increase the agility of our business and help ensure increase operational efficiency.” (Watch video quote here)

The services under Oracle Cloud leverage machine learning and big data techniques against the full breadth of customers’ operational data. Oracle Cloud’s unified platform has helped improve LOLC’s IT stability, prevent application outages and assist in ensuring security across their entire application and infrastructure portfolio.

“Oracle Cloud is enabling the organizations across the world to rapidly expand their operations and innovate to keep pace with constant change,” said Nilantha Brito, Sales Director Cloud Platform Group, Oracle SAGE.

“By leveraging Oracle Cloud LOLC has enabled its IT staff to focus more on coding and developing new ways to support the business and less on managing their infrastructure,” he said.