About the Customer
Standard Chartered is a British multinational banking and financial services company headquartered in London, England. It operates a network of more than 1,200 branches and outlets (including subsidiaries, associates, and joint ventures) across more than 70 countries and employs around 87,000 people.
Scope and Challenges
Standard Chartered embraced solutions from SAP Ariba and SAP to fuel a unified process for managing all their spend and trading relationships from end-to-end on a single, integrated platform.
In 2016 Standard Chartered begun rolling out its digital banking solutions. This move came as the bank invested $1.5 billion in its digital transformation path, following a very disruptive time for the financial sector. In 2017, Standard Chartered selected SAP Ariba in conjunction with SAP S/4HANA to standardize finance, treasury and supply chain processes across their global business model in more than 50 countries and accelerate their close process by leveraging real-time consolidation capabilities.
Outcome and Implications
With SAP and S/4 HANA as their digital core, companies can master massive amounts of data digitally in real time, enable instant insight and predictive analytics to guide critical decision making, eliminate risk and run live. With the integration of solutions from SAP Ariba, they can extend this simplicity, power and speed outside their four walls and collaborate with customers, partners and suppliers in new and innovative ways that transform their supply chain.
By the end of 2018, Standard Chartered expects to see paper-based on-boarding reduced from 90% to 10%, turn around times reduced from 5 days to less than an hour, online sales increase from 10% to 30% and branch transactions reduce from 80 million to 40 million. Standard Chartered hopes that these outcomes will also allow staff productivity to increase by 25%.
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