Bank of America Selects SAP

SAP AG today announced that Bank of America Corporation has selected SAP ERP to further integrate and enhance the bank’s internal financial reporting systems. The enterprise resource planning (ERP) application, based on a scalable platform, will provide Bank of America with a comprehensive global operating system to improve efficiency and support continued growth.

“As Bank of America’s technology needs evolve, our suite of financial systems has the flexibility needed to manage future change and provide constant value,” said Bill McDermott, president and CEO, SAP Americas and Asia Pacific Japan. “SAP’s scalable platform will also ensure a non-disruptive path to further integrate the bank’s systems. Working together with Bank of America provides continued validation that banks are relying on SAP, and represents another significant milestone for SAP in the U.S. market.”

The SAP ERP Financials solution includes unique features to support the bank’s long-term financial systems requirements, including:

• Enabling a unified, global financial management process
  
• A flexible operating model to quickly respond to changing regulatory mandates and shifts in the marketplace
  
• Incremental enhancement packages without comprehensive system upgrades

“As our company has grown, so has the size and complexity of our technology infrastructure,” said Milton Jones, Bank of America Finance Services executive. “SAP will help streamline and simplify our financial systems, support timely analytics and provide better process insights to drive more effective business decisions.”

Source: SAP AG