Patni Unveils FEM Framework

by CXOtoday Staff    Sep 24, 2008

Patni Computer Systems Limited, a global IT services provider, has released Financial Exchange Management (FEM), a business process framework that streamlines the operations of stock, commodity and mercantile exchanges.

FEM is based on Oracle E-Business Suite technology. It features a business process framework for exchanges back-office operations along with consistent templates and reports that drive the overall efficiency of operations.

Patni s approach incorporates the company s knowledge of the fee structures exchanges charge, the regulatory environment they operate in and the audits they are subjected to. The result is a framework of business best practices that addresses their unique business challenges.

FEM provides solutions that address core financials, fixed assets, and key processes including order to cash, procure to pay, and record to report.

Stock, commodity and mercantile exchanges operators face difficult, expensive challenges upgrading their systems to meet reporting requirements and stay competitive with other investments, said Uday Tembulkar, head of the Oracle ERP Practice unit at Patni. Using Patni Financial Exchange Management, these exchange operators can shorten their financial reporting time and cut costs quickly, easily, efficiently and without the risks associated with traditional enterprise upgrades.