Colonial First State (CFS), a prominent Australian wealth management group, has implemented Oracle Fusion Cloud Applications Suite to advance its mission of helping Australians achieve financial freedom. With an integrated suite of AI-enabled cloud applications for finance and human resources, CFS has improved operations, expanded insights, and enhanced the employee experience.

Founded in 1988, CFS manages AU $181 billion in assets for almost one million Australians. In recent years, CFS has embarked on a significant transformation to modernise its technology infrastructure and reimagine both business operations and user experience. To drive greater efficiency, CFS adopted a more standardised and agile approach by consolidating on Oracle Fusion Applications Suite. By moving to a single integrated suite of AI-powered cloud applications, CFS has strengthened operational consistency, while gaining the agility to innovate faster.

“Helping Australians achieve financial freedom is at the heart of everything we do and that has required us to become a smarter, more agile organisation," said Jeroen Buwalda, chief operating officer, Colonial First State. “By modernising our core systems, we are giving our people more time to focus on supporting our members. With Oracle Fusion Cloud Applications, we have enhanced the way we work across the business, strengthened our operations, and lifted the efficiency and insight we needed to support informed decisions.

With the embedded AI capabilities in Oracle Fusion Cloud Human Capital Management (HCM), CFS has unified HR operations to improve the employee experience, expand workforce insights and enhance workforce management. Using Oracle Fusion HCM, CFS has significantly reduced onboarding time for new hires, while giving leaders a single, trusted view of workforce data to support better decision-making. As a result, the HR team can deliver workforce insights faster and run learning and development programs more efficiently, enabling HR and business leaders to focus on strategic workforce planning, talent development, and innovation initiatives.

In addition, with Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Oracle Fusion Cloud Enterprise Performance Management (EPM) CFS has increased productivity, improved controls, expanded insights and streamlined financial reporting.

“Wealth management is evolving fast, and firms need to stay ahead of rising client expectations and an increasingly competitive landscape,” said Stephen Bovis, regional managing director, Australia and New Zealand, Oracle. "With Oracle Fusion Applications, Colonial First State is enhancing operational agility and data-driven insights with embedded AI.

Oracle Fusion Applications Suite enables organisations to take advantage of the cloud and the latest advancements in predictive, generative, and agentic AI to break down organisational silos, standardise processes, and manage finance, HR, supply chain and customer experience data on a single integrated cloud platform. To learn more about Oracle Fusion Applications Suite, visit www.oracle.com/applications.