Absa spends R350m on SAP softwareSAP software
Lesley Stones
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Information Technology Editor
ABSA is spending R350m on new software from the German developer SAP by converting all its systems to the mySAP Business Suite.
As part of the overhaul, Absa will become only the second major bank in the world to implement SAP’s Bank Analyser software to manage credit risk and help meet its regulatory obligations.
Absa project manager Johan Woest said the bank had not jettisoned its usually conservative approach to technology with its early adoption of the software.
“We’ve applied our usual criteria to Bank Analyser. It’s been implemented in nine other banks within Germany, so we are comfortable that it will give us the results we want,” he said.
SAP has an interest in making Bank Analyser work as it is potentially a huge contributor to its revenue from the banking sector.
The deal with SAP should help Absa easily meet the Basel II regulatory requirements by the 2006 deadline, said Woest, and would integrate its processes to boost its corporate governance capabilities.
The complete roll-out will take five years, and will start with an upgrade of Absa’s human resources software.
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