Published on : Apr 16, 2015
Asian Paints recently announced the news of integrating its financial transactions with Citi via SAP Financial Service Network.
Financial Service Network of SAP is an integrated platform that provides solution to simplify interaction between financial institutions and corporations. The financial service network will assist Asian Paints to Citi to enjoy the inherent advantages of a standardized financial process that will improve visibility as well as financial transaction of the company.
The present day companies are in the constant need of innovations to combat complexities and complete tasks which in most cases are highly sophisticated. The financial service network by SAP delivers the agility and innovation needed by the company to ensure hindrance free operations.
This network integration has helped the customers in more than a single way. Firstly, the system will allow customers to save more money and time since it helps to abridge the complicacies involved in banking services offered by private companies. Moreover the technology also helps the businesses to form a connection between systems and banks.
As reported by Asian Paints the network integration significantly improved its operations related with risk mitigation, financial workflows, and keeping track on global cash flows. In addition, issues pertaining to efficiency and visibility in operations of Citi were also significantly reduced.
It is important to note here, Financial Services Network by SAP offers a range of services over a single channel. For instance, it integrates processes between financial institutions and their corporate customers and also ensures easy communication of financial messages between the entities.
As reported by Harish Lade, the general manager of Systems in Asian Paints, solutions provided by the SAP financial service network helped the company to ensure seamless operations with Citi. In addition the platform also helped the company to connect corporate banks on multiple functions of financial integration.