One of the World’s Largest Banks Launches Verian System
Charlotte, N.C., January 5, 2012 – Verian announced today that one of the world’s largest banks recently launched Verian’s purchasing and invoice processing solutions. Initially rolled out in two countries, the organization will expand the Verian solutions to a total of 19 countries.
After completing a large acquisition, the bank migrated all its branches onto one set of enterprise computer and network systems. As part of the migration, the bank also needed a new solution that could standardize the purchasing and invoicing process across all branches and countries. With nearly 30 different currencies being used, the solution needed to handle complex conversion calculations as well.
After a thorough vendor search, the bank selected and deployed Verian’s Purchase Manager, Invoice Manager and Advanced Budgeting modules in the cloud. The Verian system will integrate directly with PeopleSoft at the bank.
“With our branches purchasing on the same system that we process invoices with, we are able to better control and analyze all of our spend,” said the bank’s VP of Procurement and Strategic Sourcing. “We are using this data to consolidate vendors, validate contract pricing, and gain significant savings.”
The Verian system was also able to accommodate a complex web of approvals for the bank. “Through a series of simple check boxes, users relate each requisition to a project and identify as a CAPEX or OPEX item,” said Ganesh Sundaresan, Senior Product Manager with Verian. “These user-entered attributes automatically send the approval on the correct routing path, streamlining workflow and saving time.”
“This is a great example of an organization taking advantage of our platform’s superior flexibility to create a solution that meets a very unique set of requirements,” said Tehseen Ali Dahya, President and CEO of Verian. “We look forward to helping this organization become more successful now and down the road.”
Verian is the world leader in universal purchasing and invoice processing systems. Regardless of the number of users, implementation complexity or deployment preference, Verian’s broad and flexible offering provides affordable, easy-to-use solutions that fit companies now – and when they change. Founded in 1997 with headquarters in Charlotte, N.C., Verian helps companies in a wide array of industries – including oil & gas, retail, healthcare, financial services and government/nonprofit – control spending and enhance visibility by providing clients with a single software platform to automate their entire purchase-to-pay process.
Adam C. Slick