Oracle Open World 2008: Patni has announced the release of a new financial exchange management tool. The business process framework, based on Oracle E-Business Suite technology, reportedly streamlines the operations of stock, commodity and mercantile exchanges.

Uday Tembulkar, head of the Oracle ERP Practice unit at Patni, explained that financial exchange operators "face difficult, expensive challenges upgrading their systems to meet reporting requirements". According to Tembulkar, the new tool allows operators to shorten their financial reporting time and "cut costs quickly, easily and efficiently".

The IT services and business solutions provider also unveiled ATOMS for Oracle products. ATOMS, or Accelerated Telecom Operations and Media Solutions, apparently facilitates the quick launch of new wireless, phone, cable, internet and media products.

Raj Badarinath, associate VP for Communications, Media and Entertainment, noted that telecom providers were facing a "financial crunch and massive pressure" to quickly market a wide range of new services. According to Badarinath, ATOMS provides a "soup-to-nuts system that sits on top of [an] existing IT business and [efficiently] pulls together [multiple] pieces".

The ATOMS paradigm comprises a pre-configured telecom processes, coupled with integrated Patni services such as consulting, systems integration, ADM and managed services. X