SAP SE today announced that Asian Paints has integrated its financial transactions with Citi through SAP Financial Services Network, an integration platform designed to simplify interaction between corporations and financial institutions. With SAP Financial Services Network, Asian Paints now has a comprehensive and secure connection with Citi that standardizes financial processes and improves visibility into its financial transactions. Asian Paints is India’s leading paint company and ranked among the top 10 decorative coatings companies in the world.
“As our business grows, it is becoming increasingly important to capitalize on efficiencies wherever possible, particularly when it comes to back-end processes and financial management,” said Harish Lade, General Manager-Systems, Asian Paints. “SAP Financial Services Network has enabled us to work seamlessly with Citi and the platform is now set to help connect other corporate banks on many financial integration functions, which are core to the success of Asian Paints.”
Recognizing efficiency and visibility as key challenges for many organizations when it comes to financial management, Citi has shown its commitment to resolving these issues as one of the first co-innovators and multinational banks for SAP Financial Services Network.
“We are very pleased to have partnered with both Asian Paints and SAP to create a new, transformational integration solution that combines the strength and the depth of our global network and banking services with the integration solutions from SAP based on the in-memory computing technology of the SAP HANA platform,” said Hubert JP Jolly, global head, Channel and Enterprise Services, Citi Treasury and Trade Solutions. “At Citi our digital strategy is to focus on a seamless and consistent cross-channel client experience, and the partnership with SAP on SAP Financial Services Network is an excellent example of this.”