LSEG upgrades financial operations with Oracle Cloud

image of small figurines standing on a pile of coins | LSEG and Oracle

London Stock Exchange Group (LSEG), a global financial markets infrastructure and data provider, has chosen Oracle Cloud to transform its finance operations.

With Oracle Fusion Cloud and Oracle Financial Services Applications running on a singular, unified platform, LSEG can increase efficiency, reduce costs and improve its financial planning, forecasting and controls.

LSEG needed to streamline its operations to enhance business insights and drive profitability across its line of business. To do this, the company decided to replace its 17 legacy finance systems with Oracle applications.

Oracle Fusion Cloud ERP will enable LSEG to automate financial processes and streamline global procurement processes. Oracle Fusion Cloud Enterprise Performance Management (EPM) will also enable LSEG to align financial and operational planning, optimize forecasting and scenario planning and increase the efficiency and accuracy of reporting.

Oracle Revenue Management, Pricing and Billing will help automate LSEG’s billing processes, unify its billing operations on a single platform over time and power a customer-centric pricing strategy to accelerate time-to-market for new products and services while enhancing the customer experience.

In addition, LSEG will use Oracle Guided Learning from Oracle University to support the Oracle implementation and accelerate user adoption of the platform.

Cormac Watters, executive vice president, Oracle EMEA, said: “Global organizations are prioritizing efficiency and automation to maximize profitability across their revenue streams and better serve their customers.

“With Oracle Cloud, LSEG has an integrated business platform that will shape its future growth with scalable, sustainable financial efficiency and insights that will help it serve its more than 45,000 customers globally.”

Joanna Fielding, group head of transformation, finance, LSEG, said: “We are on a mission to drive sustainable growth for our customers and across our entire business. To do that, we must embrace continuous innovation across our operations, including finance.

“With Oracle Cloud, we will be better able to align our financial operations to enhance performance, make better use of data, increase efficiency and streamline billing – all while delivering outstanding service to customers.”

The news follows LSEG’s last year move, which saw it enter into a long-term strategic partnership with Microsoft to architect LSEG’s data infrastructure using Microsoft Cloud and jointly develop new products and services for data and analytics.