V. Rishi Kumar

Hyderabad , March 3

ORACLE India has expanded the scope of product development teams across locations by broadening footprint into areas such as corporate governance including compliance management software, localisation drive and handling the fusion strategy, post PeopleSoft merger.

The Vice-President, Global Financial Applications, Mr Steve Miranda, on a visit to India to oversee product development work, told Business Line that localisation was a strategic move. "Compliance-related management is critical for corporations and it is now possible to manage this with software developed to meet requirements of corporate governance such as Sarbanes Oxley for financial reporting Basel II norms for banking," he said.

"Just look at the scenario where large MNC like Citibank has to work using multiple operating currencies and with offices and subsidiaries spread across and the pressures associated with compliance with the regulatory bodies, each with different set of regulations. It is now possible to handle such a scenario with compliance management software, which can be handled from a centralised base," he explained.

In the Indian context, if a large corporation has to meet the changes made in the recent Budget proposals, it would have to incorporate changes that would be applicable to the entire organisation. It is possible to address this with software that meets such a requirement, he said.

"While we do not break up the total employee strength centre-wise, the Indian team across various areas of development, sales and marketing has grown to over 6,700 people".

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