Leading Canadian Agricultural Lender Implements SAP Loans Management to Help Drive and Support Business Expansion
SAP Canada Inc. announced that Farm Credit Canada (FCC) has licensed the SAP® Loans Management application to drive further growth of the Crown corporation. FCC has earned 13 years of consecutive growth in its core lending business, and the SAP application was acquired to enable FCC to continue growing by replacing outdated legacy systems.
The SAP Loans Management application is a key part of FCC’s five-year plan to eliminate the corporation’s existing single-purpose IT applications, which have reached their limits in terms of functionality and integration.
“Our loan portfolio is the backbone of our organization and our legacy loans system is ready for renewal,” said Paul MacDonald, senior VP and chief information officer for FCC. “We are taking a long-term view with our IT development, so we’re selecting gold-standard solutions and building robust, scaleable systems to manage and accelerate our growth while improving our operational efficiency and loan administration.”
The SAP Loans Management application, part of the SAP for Banking solution portfolio, will provide FCC with a comprehensive and integrated means to track the entire life-cycle of its loans, from origination to acquisition and maintenance. The application includes functions for loan administration and monitoring, the handling of payments and other transactions, and the management of bills and related statements. The SAP Loans Management application is also designed to handle the large amounts of data concerning customer loans and contracts. This extensive functionality enables financial organizations such as FCC to focus on strategy, results and growth.
The SAP Loans Management application, delivered through mySAP™ ERP 2005, is also designed to allow FCC’s 1,200 employees to provide an extraordinary customer experience through a more efficient loan transaction process.
“We process loans in our 100 locations across Canada primarily in smaller, rural communities,” said MacDonald. “Through the SAP Loans Management application, we will enhance our customer experience across the country by automating processes and solutions that will have the built-in-flexibility to quickly adjust to our customers’ ever-changing business needs.”
FCC is a recent addition to SAP AG’s stable of more than 600 financial services customers in 60 countries worldwide. Other SAP customers in the financial services sector include ABN Amro (Netherlands), Banco del Bajio (Mexico), Banesco Banco Universal (Venezuela), Belarus Bank (Belarus) and Center-Invest Bank (Russia).
“Financial services firms compete in a fast-changing, complex and regulated business environment. Mindful of those factors, financial firms require efficient, flexible business systems that enable them to differentiate their offerings, gain competitive advantage and provide the exceptional products and services expected by their customers,” said Robert Courteau, president and managing director, SAP Canada. “By choosing SAP solutions, FCC reinforces the added value that SAP brings to respected banks and financial firms around the world, and as importantly, to their customers.”
About Farm Credit Canada
FCC is Canada’s largest provider of business and financial services to farms and agribusiness. Operating out of 100 offices located primarily in rural Canada, FCC employees are passionate about the business of agriculture. A healthy portfolio of $12 billion and 13 consecutive years of portfolio growth are a reflection of their customers' success. (Additional information at www.fcc-fac.ca)
About SAP for Banking
SAP for Banking is a solution portfolio that combines mySAP™ Business Suite applications and tailored functionality to meet the unique demands of financial institutions. With more than 600 customers in 60 countries worldwide, SAP for Banking provides an integrated set of tools and automated processes to manage every aspect of the front- and back-office banking environment—from high-volume transactional banking processes and customer relationship management to financial accounting, cost controlling and profitability and risk analysis. Based on the open architecture of the SAP NetWeaver® platform, SAP for Banking helps companies expertly manage transactions and relationships across the institution to quickly identify and exploit market opportunities and easily tailor new products to the specific needs of individual customers. (Additional information at www.sap.com/banking)
About SAP Canada Inc.
SAP Canada Inc., based in Toronto, is a fast-growing subsidiary of SAP AG, the world's leading provider of business software*. SAP applications are helping Canadian enterprises improve productivity and customer relationships, reduce costs, increase revenues and profitability, and create efficiencies across supply chains and business operations. SAP Canada has more than 680 customers and over 840 employees in five offices across the country. In addition, SAP Labs Canada develops cutting-edge software for a wide array of SAP applications from its Montreal location.
For further information, please visit www.sap.ca.
About SAP
SAP is the world’s leading provider of business software*. Today, more than 38,000 customers in more than 120 countries run SAP® applications—from distinct solutions addressing the needs of small businesses and midsize companies to suite offerings for global organizations. Powered by the SAP NetWeaver® platform to drive innovation and enable business change, SAP software helps enterprises of all sizes around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP solution portfolios support the unique business processes of more than 25 industries, including high tech, retail, financial services, healthcare and the public sector. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” (Additional information at www.sap.com)
(*) SAP defines business software as comprising enterprise resource planning and related applications such as supply chain management, customer relationship management, product life-cycle management and supplier relationship management.