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Oceanic Bank signs on SAP’s Greenfield

By Emmanuel Elebeke
In a bid to bring Nigerian companies at par with their foreign counterparts in technology application , world leading provider of business software and business management solution, SAP Africa has completed its Greenfields rollout at Oceanic Bank.

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.

Alliance and channel manager, W/A for SAP Nigeria, Ayokanmi Ayuba said the step was taken after  Oceanic bank had bought a 4216-user license bank lowing for deployment of the SAP ERP solution to its 400 branches nationwide, to jettison their manual processes, and thereby improve efficiencies across the board.

With this development, the bank will 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.

According to Ayuba, the bank is now in a far stronger position to drive efficiencies and performance, both operationally and financially.

Some of the services to be delivered under the SAP Business Suite 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.

Cornel Ononeze, head of the SAP Competency Center at Oceanic Bank International PLC says, “The bank’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.

“The SAP system has given our bank greater process transparency as the status of all transactions can be tracked online in real time through appropriate work flows 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 bank–wide, thus providing the bank with reliable consumption data for decision making.”

Ononeze went on to add that SAP 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.

“Clearly, the SAP platform is a key facilitator of our current re-engineering efforts aimed at inculcating best practices on all processes, transparency, good corporate governance and   compliance with all international and regulatory requirements,” says Ononeze.


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