The solution, which will help to streamline processes, manage costs, and increase profits for end-users, is ready for immediate implementation in the Middle East with plans to be deployed globally within the coming year.
Traditionally, businesses seeking to benefit from online banking have had to install multiple, costly, connectivity software packages to create an integrated solution with their ERP software. The joint offering now provides businesses with a single platform from which to conduct all financial transactions. This innovative banking solution enables online integration of data from the company's back office processes with its central banking transactions.
"Tracking every financial transaction within a company is no longer a matter of choice - it's a matter of survival," says Ziad Aqrabawi, Scala's Regional Managing Director in the Middle East. "Launching a joint solution in the Middle East with Citibank, the global leader in web enabled banking solutions, underscores our commitment to the region."
Aimed at the region's multinational corporations yet to adopt online banking, the joint initiative will eliminate low value-added tasks in the back-office while increasing financial control and accountability. According to industry experts the leading-edge collaborative platform created by Scala and Citibank offers an efficient, flexible and secure solution.
"With less than half of the region's major businesses currently benefiting from online banking, Citibank sees a large window of opportunity to streamline and lower implementation costs through a jointly-driven initiative with Scala to offer seamless integrated solutions to our customers," says Sankar Krishnan, Citibank e-Business Regional Head of the Gulf and Pakistan.
Available in more than 30 languages, Scala software is ideal for implementation across global subsidiaries and regions, providing the head office with a standard ERP system for effective reporting and data collation. Scala's regional network in the Middle East targets SMEs and subsidiaries of multinational companies with a Middle East presence and includes partners in Kuwait, Pakistan, Jordan, and Morocco as well as subsidiaries in Dubai, Saudi Arabia, and Egypt.
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Citibank and Scala partner to provide end-to-end online banking solution
- United Arab Emirates: Tuesday, September 10 - 2002 at 14:57
- PRESS RELEASE
Scala Business Solutions and Citibank e-Business, a division of Citigroup - the premier global financial services company - have partnered to provide companies with an end-to-end corporate online banking solution.
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About Citibank e-BusinessCitibank e-Business provides solutions that empower corporations and financial institutions globally to connect to the Web, transform their business using Internet-related technologies and extend their reach to new markets. Our solutions support our customers as they integrate their Internet-based exchanges, software solutions, logistics, and financial services with existing, end-to-end, liquidity management, investment, cash management and trade finance processes. Additional information may be found at: www.e-business.citibank.com.
About Scala Business Solutions
Scala Business Solutions creates collaborative ERP software - integrating Internet technology and traditional ERP functionality - to make global business simple. With Scala, global companies can fully integrate all their ERP systems anywhere in the world, whether in a subsidiary, division or headquarters, and extending to their partners and suppliers. Scala's collaborative ERP software makes it possible for global companies to meet the requirements for advanced e-business as well as use a standard ERP product for managing traditional business processes. This enables them to gain measurable benefits from trading electronically, building a private exchange or global portal, or optimising the supply chain.
From offices in Europe, North America and the Far East, and through its network of partners and dealers, Scala delivers software and services that are available in over 30 languages in more than 140 countries.
Scala is listed on the Euronext Amsterdam Stock Exchange (symbol: SCALA). 2001 revenue was USD 70.6 million.
Visit Scala's website at www.scala.net for press information including press releases, information for investors, and company and product information.
Posted by Anne-Birte Stensgaard, News EditorTuesday, September 10 - 2002 at 14:57 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Mon Sep 22 2003.
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