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 ("Stan Group") has entered into a long-term partnership with Oracle to implement Oracle Enterprise Resource Planning (ERP) Cloud, in an effort to drive financial and management efficiency across its business units, in the areas of property investment and management (SG Properties), hospitality and catering services (SG Hospitality), telecom and advertising (SG Communication Services), and social 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 into one intelligent financial management system. By implementing Oracle ERP Cloud, Stan Group will be able to operate with greater levels of workflow efficiency, reporting accuracy and financial management effectiveness.
"We expect Oracle ERP Cloud to propel our business transformation strategy forward significantly," said Stan Tang, Chairman of Stan Group. "With an optimised business structure, the Group can be more effective in everything we do."
The Group will be deploying Oracle ERP Cloud to enhance overall data integrity. By pooling all company data into a single database, the software ensures consistency and measurability, with validation controls to reduce human error in data capture.
Oracle ERP Cloud will also improve the speed and accuracy of the Group's reporting capabilities, potentially halving the lead time for monthly operations reports. In addition, the system captures statistical data from all company activities, including KPIs, and generates reports for more effective decision-making.
Financial and management reporting will be more accurate and tailored to company goals, as transaction data is captured in a structured format, reflecting relevant market segmentations and cost drivers. Enhanced data modelling will facilitate more useful analyses for future investment modelling, aiding management's decision-making processes. Equipped with business intelligence tools, management will be able to respond and implement corrective actions faster.
Stan Group is confident that introducing Oracle ERP Cloud will help drive the future expansion of business units across the board. This, in turn, will support the Group's value creation offerings, benefitting both shareholders and the community.
ABOUT STAN GROUP Stan Group (Holdings) Limited ("Stan Group") is a family-owned conglomerate with more than 30 respected brands across various industries. The Group's investment strategy focuses on five areas of business: property investment and management (SG Properties), hospitality and catering services (SG Hospitality), telecom and advertising (SG Communication Services), financial services (SG Financial Services) and social innovation development (The STILE). With over HK$50 billion in AUM in partnership with Tang Shing-bor's family business. The group believes in furthering our reputation as a forward-looking organisation that strive to change business for good. www.stangroup.com.hk