LOLC, one of Sri Lanka’s largest non-banking financial institutions and conglomerate, has signed an Unlimited License Agreement with Oracle to access its Oracle Cloud Platform in order to facilitate its global expansion. By deploying Oracle Cloud Platform, LOLC has migrated its on-premises core applications as it seeks to modernize its business.
With over 300 locations across Sri Lanka, and further global expansion planned, LOLC a technology platform that could support the business’s plans for growth. The company also wanted help to standardize the Group’s operations to achieve cost savings and increase efficiency. Another key factor driving selection is the fact that Oracle’s cloud platform gives users the freedom and flexibility to have any choice of deployment, either as an enterprise-grade Public Cloud, on-premise Private Cloud or on a hybrid model.
“The Unlimited License Agreement (ULA) has helped LOLC understand how we are really utilizing 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 Management and 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 – regardless of whether that comes from Oracle or any other vendor.”
Oracle Cloud has also delivered a wide range of powerful tools for LOLC’s development and operations (DevOps) teams, enabling the team to monitor the status and health of its entire IT infrastructure within a single platform, troubleshoot problems, derive operational insight and make strategic decisions. LOLC has moved all testing and developing environments to cloud as part of the implementation, in order to increase DevOps productivity with agile practices and ensure that critical applications are up and running.
LOLC Technologies, a fully owned subsidiary of LOLC Group, implemented the solution for the Group.