January 12, 2017
This blog contains excerpts from a Forbes article titled Radius Payment Solutions Fuels Growth With Modern Financials System published January 2017.
Radius Payment Solutions, one of the world’s leading service providers to the fleet and logistics market, is building on its existing transactional systems to provide new services to its customers.
“We’re moving from being a fuel card company to a technology-driven business,” says Dave Roberts, CIO at the UK-based company, which operates in 13 countries across Europe and Southeast Asia.
“We need to focus IT on growing our business technology rather than on maintaining infrastructure,” says Roberts. In particular, the company needed to overhaul its core financials. “We’re forecast to grow as much in the next few years as we have in the last 25 years,” says Lisa Broad, group finance director. “Our homegrown, on-premises financial and billing system can’t scale with our long-term growth trajectory.”
For Radius, the answer was Oracle Enterprise Resource Planning (ERP) Cloud, which neatly matched the company’s requirements list: functionality, reliability, and cloud-based scalability. Radius purchased financials, procurement, expenses, and inventory modules and plans to integrate the platform with an Oracle Cloud Marketplace billing software product called Ad Orb [RecVue], to create a fully integrated financial and billing system.
The most time-consuming aspect of the project lies in figuring out how to migrate the company’s complex billing practices, which vary in accordance with differing national commercial deals and financial regulations. “Oracle ERP Cloud combined with [RecVue] for billing provides a ready-made base solution for these complex requirements,” says Broad.