T.P. Pradeep Kumar, CFO, UAE Exchange

T.P. Pradeep Kumar, CFO, UAE Exchange

UAE Exchange has recently completed the company-wide implementation of SAP Business Planning and Consolidation (SAP BPC), an integrated Enterprise Performance Management (EPM) solution for the financial departments.

Implemented by SAP gold partner, MDS ap, the project is aimed at unifying planning, budgeting and consolidation of UAE Exchange’s complex and globally distributed branches and business entities.

T.P. Pradeep Kumar, CFO, UAE Exchange, said, “The financial services world is a dynamic place. To keep UAE Exchange ahead of the global competition we need to stay adaptive, make plans and decisions quickly based on timely and accurate financial data. SAP BPC solution implemented by MDS ap, gives us the exact essential capability to be efficient and agile in our financial management. This is of paramount importance to us especially right now as we go through the phase of restructuring the group following the recent acquisition of Travelex.”

UAE Exchange currently employs over 9,000 staff and operates through close to 800 branches in 31 countries. The application, according to the company, will bring finance and operations together and will give the financial management team a unified and consolidated view of all financial and planning data. It will also allow them to reduce planning cycle time, close the books faster and best align plans with the company’s strategic goals.

“We have been working very closely with UAE Exchange for over two decades since we first brought Sybase Database into the Middle East region,” said, Tony Achkar, Group Managing Director, MDS ap. “When you have a client for this amount of time, you literally make their business your business, and their challenges your own challenges too. We are very happy and proud to see SAP BPC is helping raise the financial management and planning maturity at UAE Exchange, making the group ready for further global growth and greater success.”

Tayfun Topkoc, Managing Director for SAP UAE, said, “Real-time analytics are the heart of UAE Exchange’s long-term digitisation strategy, powering their back-end operations and front-facing customer services. We’re continuing to co-innovate with UAE Exchange, combining our partnership with MDS ap and global best practices to ensure that UAE Exchange is one of the leading remittance, foreign exchange and payment solutions brands in the Middle East and even worldwide.”