In partnership with Oracle, Stan Group is implementing new ERP Cloud software to drive financial and management efficiency across business units
HONG KONG,CHINA - Media OutReach - December 20, 2018 - Stan Group (Holdings) Limited ("StanGroup") has entered into a long-term partnership with Oracle to implement OracleEnterprise Resource Planning (ERP) Cloud, in an effort to drive financialand management efficiency across its business units, in the areas of propertyinvestment and management (SG Properties), hospitality and catering services(SG Hospitality), telecom and advertising (SG Communication Services), andsocial innovation development.
Mr. Steve Darcy, Head of Cloud Applications of Oracle Hong Kong and Taiwan and Mr. Stan Tang, Chairman of Stan Group (Holdings) Limited, attended the signing ceremony for the long-term partnership
ERP Cloud from Oracle integrates accounting,consolidation, planning, procurement, projects, reporting and analytics intoone intelligent financial management system. By implementing Oracle ERP Cloud, Stan Group will be able to operatewith greater levels of workflow efficiency, reporting accuracy and financialmanagement effectiveness.
"We expect Oracle ERP Cloud to propel our businesstransformation strategy forward significantly," said Stan Tang, Chairman ofStan Group. "With an optimised business structure, the Group can be moreeffective in everything we do."
The Group will be deploying Oracle ERP Cloud to enhance overall data integrity. Bypooling all company data into a single database, the software ensures consistencyand measurability, with validation controls to reduce human error in datacapture.
Oracle ERP Cloud will also improve the speed andaccuracy of the Group's reporting capabilities, potentially halving the leadtime for monthly operations reports. In addition, the system capturesstatistical data from all company activities, including KPIs, and generatesreports for more effective decision-making.
Financial and management reportingwill be more accurate and tailored to company goals, as transaction data iscaptured in a structured format, reflecting relevant market segmentations and costdrivers. Enhanceddata modelling will facilitate more useful analyses for future investmentmodelling, aiding management's decision-making processes. Equippedwith businessintelligence tools, management will be able to respond and implementcorrective actions faster.
Stan Group is confident thatintroducing Oracle ERP Cloudwill help drive the future expansion of business units across the board. This,in turn, will support the Group's value creation offerings, benefitting bothshareholders and the community.
ABOUT STAN GROUP
Stan Group(Holdings) Limited ("Stan Group") is a family-owned conglomerate with more than30 respected brands across various industries. The Group's investment strategyfocuses on five areas of business: property investment and management (SGProperties), hospitality and catering services (SG Hospitality), telecom andadvertising (SG Communication Services), financial services (SG FinancialServices) and social innovation development (The STILE). With over HK$50billion in AUM in partnership with Tang Shing-bor's family business. The groupbelieves in furthering our reputation as a forward-looking organisation thatstrive to change business for good. www.stangroup.com.hk