Dubai, 17th July, 2007: Emirates Bank announced today that it has signed a contract with Satyam Computer Services Ltd for the licensing and implementation of its Enterprise Financial Management System. The implementation will be program managed by Cedar Management Consulting. The system will be implemented across Emirates Bank Group.
Satyam Computer Services was selected to implement the solution after a comprehensive evaluation facilitated by KPMG of leading global solutions and implementation service providers.
The implementation of the new E-Business suite from Oracle helps to streamline and automate the Group's enterprise processes covering General Ledger, Fixed Assets, Accounts Payable, Procurement and Property management. This latest Oracle release is strategic in nature and will enable Emirates Bank to enhance ability to operate in a global environment.
Speaking on the occasion, Sanjay Uppal, Group CFO, Emirates Bank said, "This Centralized Enterprise Financial Management system will help us in having better efficiencies and control at the Group level and also augment our business strategy for continuous enhancement of our internal processes and accurate MIS. We look forward to working with Satyam and Cedar as partners in this strategic initiative"
Mr. Abdulla Qassem, GM Information Technology and Operations, Emirates Bank said, "Investing in state-of-the-art technology infrastructure will help position us as a key market leader. This solution will enable integration of support functions and build best-in-class organizational processes"
Mr Virender Aggarwal, Director and SVP, Satyam Computer Services Ltd. said, "It is an honor for Satyam to be the chosen one for Emirates Bank in this landmark implementation. Satyam believes in delivering value to its customers and we are confident that the solution will bring immense value to them and in turn help them serve their customers and stakeholders better"
The implementation program for the new system is expected to start immediately. This technology platform will provide Emirates Bank with a significant edge in refining processes, building transparency and control over its enterprise.
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For more information please contact:
Mr. Ibrahim Sowaidan,
Head of Corporate Communications
Tel: 04 2092916
Mobile: 050 6538937
© Press Release 2007
