SAP SE (NYSE: SAP) right this moment introduced that Asian Paints has built-in its monetary transactions with Citi by SAP Financial Services Network, an integration platform designed to simplify interplay between companies and monetary establishments. With SAP Financial Services Network, Asian Paints now has a complete and safe connection with Citi that standardizes monetary processes and improves visibility into its monetary transactions. Asian Paints is India’s main paint firm and ranked among the many high 10 ornamental coatings firms on this planet.
In right this moment’s aggressive enterprise panorama, chief monetary officers and company treasurers require a transparent and seamless integration with their banking companions that removes guide processes related with transactions and gives visibility into money circulation. SAP Financial Services Network is a testomony to SAP and Citi’s pledge to ship the innovation and agility that firms must defeat complexity and full extremely refined duties. The integration with Citi simplifies the intricacy of company-based banking companies and makes it simpler for companies to attach their fee techniques with the financial institution, saving these clients time and cash. It helps standardize banking operations to enhance monetary workflows, mitigate threat and monitor world money.
“As our business grows, it is becoming increasingly important to capitalize on efficiencies wherever possible, particularly when it comes to back-end processes and financial management,” stated Harish Lade, General Manager-Systems, Asian Paints. “SAP Financial Services Network has enabled us to work seamlessly with Citi and the platform is now set to help connect other corporate banks on many financial integration functions, which are core to the success of Asian Paints.”
Recognizing effectivity and visibility as key challenges for a lot of organizations with regards to monetary administration, Citi has proven its dedication to resolving these points as one of many first co-innovators and multinational banks for SAP Financial Services Network.
“We are very pleased to have partnered with both Asian Paints and SAP to create a new, transformational integration solution that combines the strength and the depth of our global network and banking services with the integration solutions from SAP based on the in-memory computing technology of the SAP HANA platform,” stated Hubert JP Jolly, world head, Channel and Enterprise Services, Citi Treasury and Trade Solutions. “At Citi our digital strategy is to focus on a seamless and consistent cross-channel client experience, and the partnership with SAP on SAP Financial Services Network is an excellent example of this.”
Hosted by SAP as an on-demand providing, SAP Financial Services Network uniquely positions banking establishments to ship enterprise purposes in a complete and related means. With standardized integration and value-added companies presently restricted within the banking business, the community tackles this challenge head on by bettering the way in which firms and company treasurers talk with their banks. SAP Financial Services Network affords a number of companies over a single channel. These embody course of integration between monetary establishments and their company clients, enrichment and simple change of economic messages, reminiscent of funds, collections and statements and a means to hook up with a number of banks by the identical community with out on-site {hardware} or customized growth.
With a rising variety of participant banks and companies, together with DBS Bank, which just lately joined this system, SAP Financial Services Network continues to increase in each accomplice and buyer adoption.
For extra info, go to the SAP News Center and SAP.com. Follow SAP on Twitter at @sapnews.
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