HispanicBusiness

REDWOOD SHORES, CA -- (Marketwire) -- 09/27/12 -- Oracle (NASDAQ: ORCL)

News Facts

•Thousands of organizations around the world, in a variety of industries, continue to invest in the Oracle E-Business Suite as they adopt it as first time customers, upgrade to the latest release and then expand their footprint by adding new modules and functionality of the Oracle E-Business Suite, as well as complementary Oracle applications and technologies. •With hundreds of cross-industry capabilities spanning enterprise resource planning, supply chain management, and customer relationship management, the Oracle E-Business Suite applications help customers manage the complexities of global business environments no matter the size of the organization. •As part of Oracle's Applications Unlimited strategy, Oracle is committed to ongoing support and enhancements of the Oracle E-Business Suite, thus protecting and extending the value of customers' existing software investment.

BLC Bank sal Reduces Number of Procure-to-Pay Processes by More Than 30 Percent by Adopting a New Implementation of Oracle E-Business Suite 12.1

•BLC Bank sal, formerly known as Banque Libanaise pour le Commerce s.a.l., is one of Lebanon's pioneer banking institutions. It operates a network of 35 branches across the country and provides a full range of corporate, retail, and private banking services. In 2011, BLC Bank acquired a 94 percent stake in USB Bank PLC, one of the leading banks in Cyprus, with 40 branches. •BLC and its subsidiaries previously maintained separate systems for managing fixed assets, inventory, and payables. The bank needed to integrate and streamline data stored in spreadsheets and other accounting systems that had been consolidated through predominantly manual extraction and mapping. The bank also needed to automate a procurement system to make purchasing and inventory information readily available to all executives. •Installed in just five months, BLC Bank chose the Oracle E-Business Suite 12.1 to replace its in-house fixed asset and inventory system and an off-the-shelf accounting system. BLC Bank sought to integrate data and automate multiple business processes within a single repository system, with clearly identified automated mapping rules, eliminating multiple redundant entries and was able to reduce the time necessary to process procurement entries by more than 30 percent with the new system. •To better integrate its operations, BLC Bank extended the enterprise resource planning (ERP) solution to help improve daily capture and synchronization of thousands of summarized general ledger positions between the ERP and core banking systems, regarding account information, currency mapping tables, and other data. •"BLC Bank needed a best-of-breed ERP solution that could be quickly tailored to its financial services needs, and, given Oracle's expertise in the financial industry, we did not consider other vendors for the project," said Gaby Awad, Project Management Office Head, BLC Bank sal.