Sri Lanka’s LOLC signs unlimited license agreement with Oracle
Thursday June 6, 2019 14:54
ECONOMYNEXT- Sri Lanka’s LOLC Holdings has signed an unlimited license agreement (ULA) with global IT giant Oracle to access its cloud platform to facilitate global expansion, an official said.
"The 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," Managing Director Kapila Jayawardena said.
"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 Oracle Cloud Platform will also help in standardizing group operations which will reduce costs and increase efficiency, the firm said.
The system will help LOLC monitor, manage and analyse data across different industrial segments, the firm said.
LOLC is one of Sri Lanka’s largest non-bank financial service providers. It also has interests in leisure, construction, energy, agribusiness and IT.
LOLC has expanded to Myanmar, Cambodia, Pakistan, Zambia, the Philippines and Indonesia. (Colombo/Jun06/2019)