Commercial Bank of Dubai’s Payments & Cash Management partners with Oracle
In order to better understand and anticipate our customers’ needs, it’s important to first understand how they do their business. Commercial Bank of Dubai’s Payments & Cash Management (PCM) department recently partnered with Oracle to delve into how companies use their Enterprise Resource Planning (ERP) applications to run day-to-day operations, monitor performance, reconcile books and manage their business overall.
Held from 26 to 28 February 2017 at the CBD Head Office and attended by all PCM staff, the training sessions were conducted by seasoned Oracle Functional Leads and Enterprise Solutions Architects, with more than 40 years’ combined experience in developing and implementing Oracle solutions and applications across various organizations around the world.
The intensive program included an overview of how ERP fits into a company’s enterprise architecture; industry best practices in inventory management, receivables management and payables management; as well as how companies use their ERP’s cash management to reconcile transactions, manage cash positions and administer bank accounts.
Speaking on the successful completion of the Oracle workshop, Amol Bahuguna, Head of Payments and Cash Management at CBD said “Oracle is one of the largest developers of database and enterprise software in the world and is the most widely distributed ERP platform in the UAE government, GREs and large corporates in the UAE who are also our clients. This intensive workshop conducted by Oracle has equipped our Payments and Cash management team with a specialized understanding of the internal systems and processes being followed by our clients using Oracle’s ERP. It is especially relevant to CBD’s large corporate clients who are looking towards the Bank to provide innovative solutions in host-to-host connectivity, payments, receivables, account reporting and reconciliation.”
Amol further added that, “Oracle’s customer’s base is expected to grow even more in the region with the development of cloud-based services allowing them to cater to more and different sized companies. To support our clients early in this journey, we have equipped our team with the tools and knowledge to provide them with the most appropriate and efficient solution according to their business needs.”