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Irish Life (Now Great West)

Case Study

Irish Life required a centralized, web based tactical solution made up of EPM Hyperion Planning 11.1.1.3 (which included Planning applications for Overheads, Payroll/FTE, Capex and Activity Based Costing) and Financial Reporting applications.

Company: Irish Life
Industry: Banking
Country: Ireland
Employees: 2,016

Solution Featured

The Challenge

Codec consultants worked with the client in developing the functional requirements and technical design for the development of financial reports on top of an OLAP Solution. There were a number of source systems such as Financial GL, Enterprise Data warehouse, Excel and third party databases.

Background

Established in 1939, Irish Life is Ireland's leading life, investment and pension company. Irish Life is now part of the Great-West Lifeco group of companies, one of the world’s leading life assurance organisations.

Founded more than a century ago in Winnipeg, Canada, Great-West Lifeco and its subsidiaries, including The Great-West Life Assurance Company, have a record for financial strength, earnings stability and consistently high ratings from the independent rating agencies. The Great-West Life Assurance Company has an AA rating for insurer financial strength from Standard & Poor's.

The Solution

Codec consultants designed and developed a centralized web based tactical solution made up of EPM Hyperion Planning 11.1.1.3 (which included Planning applications for Overheads, Payroll/FTE, Capex and Activity Based Costing) and Financial Reporting cube/application.

All source systems were brought together in a staging database and loaded into the relevant dimensional model allowing for centralized calculations with direct input via the web front end and data directly loaded from the general ledger, HR and fixed asset register via Oracle Data Integrator (ODI).

The Planning system was deployed to Group Finance, Corporate Business and Retail Finance teams within IL&P.

The Results

  • Irish life now have a centralised reporting function which can run ad hoc analysis.
  • Predefined reporting packs which are automatically updated and distributed to the relevant people across the organisation.
  • The ability to slice and dice the financial information along with any supplementary information from both a web front-end and excel environment.

“Listen to Jason Kernan (executive manager retail accounting Irish Life) on how he worked with Codec to deploy Oracle EPM on top of Oracle transactional systems Irish Life. The project has resulted in Irish Life making significant improvements in the productivity of its finance function and changed the way it reports and forecasts today.”
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