SAP Africa has announced the completion of one of its largest Enterprise Resource Planning (ERP) System implementations in Nigeria, with the completion of the Greenfields rollout at Oceanic Bank International Plc.
According to a statement by the company, the project is the first by an indigenous bank to resort to its primary business management solution.
The company stated that the implementation centered on SAP Business Suite, which enables the bank to continue using its core banking solution that integrates seamlessly and swiftly with the ERP back-end functionality and management tools, adding that the bank bought a 4,216-user license to be deployed across its 400 branches.
Mr. Ayokanmi Ayuba, Alliance and Channel Manager, SAP Nigeria and West Africa, said, â€œOceanic Bank is a premier customer for SAP Africa and Serve Consulting, a key SAP partner in Nigeria and we are extremely proud to have concluded this deal and implementation.
â€œOne of the major reasons for looking for an ERP solution was to jettison their manual processes, and thereby improve efficiencies across the board. They now have full visibility at board and management level and can see what is going on in the bank on a day-to-day basis.â€
He stated that the bank is now in a far stronger position to drive efficiencies and performance, both operationally and financially.
Ayuba explained that this is made possible due to the breadth of services delivered under SAP Business Suite, which includes Financial Accounting, Management Accounting, Budgetary Controls, Supply Chain Management modules, as well as Materials Management and HR, including Payroll and Employee and Manager Self-service tools.
Speaking in the same vein, Cornel Ononeze, Head, SAP Competency Center at Oceanic Bank International PLC says, â€œThe bankâ€™s investment in the SAP implementation has begun to pay dividends since going live with the initial modules.
The decommissioning of seven legacy applications has also resulted in savings on multiple licensing, individual support infrastructure, multiple support personnel and maintenance of several interfaces in the bank. The overall benefit is a reduction in operating costs.
â€œThe SAP system has given our bank greater process transparency as the status of all transactions can be tracked online in real time through appropriate workflows and authorizations without recourse to very expensive follow-ups via telephone, fax or other channels. Today all policies relating to expense controls and budgets are effectively deployed and monitored on SAP without leakages bankâ€“wide, thus providing the bank with reliable consumption data for decision making.â€
He added that SAPâ€™s ERP has given the bank the capability to evaluate work load across the various departments for objective assessment of resource allocation bank-wide. This implementation has equally facilitated the reduction and redeployment of personnel in several departments without adversely affecting service delivery.