Center-invest Bank’s IT projects based on SAP SE software solutions were shortlisted for the prestigious SAP Value Award.

Center-invest Bank entered three projects for the award: accelerated introduction of new deposit products using SAP BS software; accelerated and lower cost generation of reporting forms using SAP BW; and increased productivity of the human resources department using SAP HCM.

The project to accelerate the introduction of new deposit products, implemented by the bank’s own team, was shortlisted for the Digital Transformation Leader category. This category was for business initiatives that have transformed business processes to dramatically improve a company’s quantitative and qualitative results, enabling it to move up to a new level of business operations.

Through this project, the bank optimized the business processes involved in introducing retail deposits, and improved staff productivity. By the end of 2016, retail customer deposits had increased by 27%, new deposit products were being brought to market twice as quickly, and labour cost savings were over RUB10m.

The bank’s other two IT projects were also shortlisted for the award. The project to improve the productivity of the human resources department delivered increased efficiency, transparency and autonomy. Annual labour costs were reduced by RUB8.5m and productivity was up 20%. The project to generate reporting forms using SAP BW reduced the time taken to produce the most complex reports, allowing for more timely analysis and decision making. Annual cost savings of over RUB13.5m were achieved by automating routine operations, and the ledger of liabilities due to depositors is generated four times more quickly.

Center-invest Bank’s Director of Innovation, Yuri Bogdanov, said, "The highly commended achievements of the bank’s project team save time, free up human capital for more creative work, allow the bank to earn more with less labour, and show the market that SAP products remain first-rate and are not always expensive."