DOHA • Al Koot Insurance and Re Insurance Company, a subsidiary of Qatar Petroleum, is the first company in the GCC to adopt Oracle ERP and AIMS web in this sector along with its IT service provider Ali Bin Ali Technology Solutions (ABATS) and TechnoSys Group, officials of the two firms announced at a Press Conference here yesterday.
Al Koot’s project that went live on July 1, including the deployment of the core business needs encapsulated in ‘AIMSweb’ insurance and re-insurance Oracle-based application provided by TechnoSys, one of the leading solution providers for regional insurance market.
The project also included the Enterprise Resource Planning (ERP) automation of the Financial and Human Resources needs of Al Koot through “Oracle E-Business Suite”, provided by Ali Bin Ali Technology Solutions (ABATS).
Having recently gone live, the success of this project is being demonstrated by the complete automation of Al Koot’s Business Processes via seamless integration of the said processes and data between both the ORACLE ERP and the AIMSweb Insurance applications.
Al Koot will enjoy a single source data point of truth having complete Data repository that includes a wealth of information representing different layers, serving both the top management and the daily transactional needs of the company.
This project covered the business cycles related to Budgeting, Accounts Payable, Accounts Receivable, Cash Management, Fixed Assets, Human Resources and Payroll Management. Being able to exploit the capabilities of Oracle’s standard business flows, ABATS was able to deploy world class standards of business practices that serve Al Koot’s mission and ensure better utilization of the employees’ time management. As for AIMSweb Insurance Application, it covers the services related to General Insurance, claims, medical, Life and Reinsurance.
In the current information age, where almost every business highly depends on the availability of the right information at the right time, one of the major objectives of this project is to introduce an intelligent reporting mechanism.
ABATS was able to provide Al Koot with one of the most intelligent financial reporting tools “Oracle Discoverer”, a comprehensive drill down reporting tool that enables end users to generate their own reports without the need for further technical intervention.