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VIVA Announces Successful Implementation of Oracle Fusion Revenue Management (FRM) Cloud

Kuwait, 17 February 2018: VIVA, Kuwait's fastest-growing and most developed telecom operator, announced the launch of Fusion Revenue Management (FRM) system, the first cloud based application for VIVA and the first fully automated revenue management system in GCC that complies with International Financial Reporting Standards (IFRS15) standard. This project has been successfully completed in cooperation with Oracle, one of the world's leading companies in this field.
On this occasion, Eng. Salman Bin Abdulaziz Al-Badran, CEO at VIVA says: "Since its inception, VIVA is committed, through its successful strategy, to play a key role not only on operational level but also by applying the best practices and professional standards across all VIVA sectors and departments that support VIVA's activities and plans. In addition, VIVA is fully committed to comply with all regulatory requirements and is eager to apply all the new and advanced systems in line with our principles, values and professional standards."
"This achievement reflects the great efforts made by the company's staff along with Oracle team during the last period to reach the introduction of this system, as well we always seek to concentrate our efforts to achieve the best results through integrated professional team in timely and efficiently manner", he added.
Mr. Mohammed Bin AbdulMohsen Al-Assaf, CFO at VIVA stated: "This achievement proves effective and outstanding efforts exerted by VIVA to be a pioneer in ensuring the compliance with Accountant standards and regulatory requirements, also the optimal operational efficiency through the adoption of the best methods and modern techniques to obtain the best possible results that reflect the vision and strategy of the company."
"It is essential for the organizations to be compliant with International Financial Reporting Standards (IFRS) and with successful implementation of Fusion Revenue Management (FRM), VIVA will be capable of handling the complex revenue accounting processes and systems in a very agile manner to be complied with IFRS15", he added.
Mr. Zarrar Khan, CTO at VIVA stated: "VIVA has always been pioneer amid its competitors to implement first of its kind projects within GCC. In line with our technology strategy to have efficient systems supporting the business operations, VIVA Kuwait along with Oracle has embarked on a journey towards a fully automated "Revenue Management" system. "The strategic partnership between VIVA and Oracle has always enabled both the companies to innovate and achieve the best for organization".

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