A FRUITFUL COLLABORATION
“From A to Z, SAP Account Management was truly a team effort,” says Zoltan Majdik, SSP Program Manager for UBS. “We specified the business requirements and did the testing, while SAP developed the software components. The collaboration has been fruitful for both parties.” The result of this collaboration is SAP Account Management, the first software application that uses “open” technology standards to automate and centralize core account transactions for multinational banks.
“SAP Account Management is an innovative product,” says Zoltan Majdik, “with a component-based architecture which is new. SAP is one of the first companies to offer just the components and not the full application suites. That was important, and a key factor when we were looking for a partner.”
Among these components, SAP Account Management offers such advanced business functions as intraday interest calculation. “Most accounting systems calculate interest rates for periods of days or months,” Zoltan Majdik explains. “But our requirement was the ability to calculate interest rates for fractions of a day. It is critical to our shortterm borrowing activities, and the SAP solution makes it possible.”
FLEXIBLE AND RELIABLE
The Account Management application is also very flexible and adaptable to a variety of new financial services products. And, it provides the high degree of reliability UBS requires. “It is extremely important for this system to be stable and efficient at all times,” says Zoltan Majdik, “because the damage due to failure would be enormous.” Since the new solution went “live” in June, 2003, he reports, “the business functionality has been 100%.” Today, all of UBS’s cash accounts in Switzerland are running on SAP Account Management.
“There are a lot of other account systems on the market,” Zoltan Majdik notes, “but none that could handle our complex and sophisticated business requirements together with the high volume. In fact, I know of no other bank that has a system to handle this kind of service and these volumes.”
