Oceanic Bank Adopts SAP Business Suite

Following the completion of the Greenfields rollout at Oceanic Bank, SAP Africa has completed one of its largest ERP implementations in Nigeria.
The project was the first by an indigenous bank to settle for SAP as its primary business management solution. The implementation centred 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.
Cornel Ononeze, head of the SAP Competency Centre at Oceanic Bank International Plc said, “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.”
Oceanic Bank bought a 4216-user licence to be deployed across its 400 branches. According to Mr. Ayokanmi Ayuba, West Africa Alliance and Channel Manager for SAP Nigeria, “Oceanic Bank is a premier customer for SAP Africa and Serve Consulting, a key SAP partner in Nigeria, and we are extremely proud to have concluded this deal and implementation. “One of the major reasons for looking for an ERP solution was to jettison their manual processes and, thereby, improve efficiencies across the board.
“They 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.”  Mr. Ayuba said that the bank was now in a far stronger position to drive efficiency and performance, both operationally and financially.
“This is made possible due to the level of services delivered under SAP business suite, which includes Financial Accounting, Management Accounting, Budgetary Controls, Supply Chain Management modules, as well as Materials Management and Human Relations Management, including payroll and employee and manager self-service tools,” he added.