Ochtar make real investment in SunSystems
Formed by a management buyout from Lendlease, Ochtar Capital Partners' business is the management of funds invested in real estate assets. As a result of the buyout they needed to review their back office systems which were based on Oracle financials but were no longer meeting the needs of their business. Consequently, Ochtar asked PwC to help them select replacement systems, the result of which was to chose SunSystems from Foundation Systems.
Ochtar opted to undertake a business analysis with Foundation to ensure all their requirements were identified. One of the outcomes of this process was to use Foundation's hosting service as Ochtar have little infrastructure and no internal IT resource. This provides remote access for all Octar's offices, in the UK, Luxembourg, Tokyo and Hong Kong, whilst still allowing them ability to manage and administer the SunSystems application.
As an organisation Ochtar has a small number of transactions but an extremely complex structure with a particular emphasis on inter-company accounting, consolidation and multi-currency processing. They also have to handle multiple GAAP reporting. SunSystems was felt to be the best fit thanks to:
- its flexible coding structure
- the ability to report in multiple GAAP
- the SunSystems Consolidations module which will speed up the consolidation process and allow for currency consolidations, part ownership, etc
- the capability for dual base currency transactions plus additional reporting currencies
- the SunSystems Vision reporting tool which allows the finance team to quickly and easily create reports, whereas they had to rely on IT resource to do this with the Oracle system
