China Everbright Bank to Streamline Operations with SAP® Solutions
SAP for Banking and mySAPā„¢ ERP to Deliver Quick ROI for China's Leading Bank
SINGAPORE - December 15, 2003 - SAP China, a division of SAP AG (NYSE: SAP), today announced that China Everbright Bank, a leading Chinese bank with 350 branches and US$40 billion in assets, has signed an agreement to streamline their operations with mySAPā„¢ ERP, SAP's comprehensive enterprise resource planning solution, and industry-specific applications available in the SAP for Banking portfolio of solutions.
SAP for Banking solutions will help China Everbright Bank to consolidate financial data, allocate costs and set prices more efficiently, supporting the bank's key enterprise management and accounting functions including cost control, treasury, profitability analysis and asset liability management. The bank also expects to improve its budget planning processes as well as its interest rate and liquidity risk management to achieve a quick return on investment (ROI).
After considering several options, China Everbright Bank selected SAP because of its international best practices and track record of success in the financial sector. The implementation, to be carried out by Legend Group Limited (Lenovo) and Accenture, is expected to be completed by the end of 2004.
"With SAP for Banking, China Everbright Bank should achieve standardized, seamless and more efficient business processes and better integration across its operations, including transactions execution, financial analytics and management decision support,"¯ said Klaus Zimmer, president, SAP Greater China.
About SAP
SAP is the world's leading provider of business software solutions. Through mySAPā„¢ Business Suite, people in businesses around the globe are improving relationships with customers and partners, streamlining operations, and achieving significant efficiencies throughout their supply chains. The unique core processes of various industries, from Aerospace to Utilities, are supported effectively by SAP's 23 industry solution portfolios. Today, more than 20,500 customers in over 120 countries run more than 67,500 installations of SAP® software. With subsidiaries in over 50 countries, the company is listed on several exchanges including the Frankfurt stock exchange and NYSE under the symbol "SAP."¯ (Additional information at http://www.sap.com)
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For more information, press only:
Margaret Lim, +65 6768-6481, margaret.lim@sap.com GMT +8
Michelle Madamba, Burson-Marsteller, +65 6331 5244, michelle_madamba@sg.bm.com GMT +8
