Japanese Megabank Works with Oracle to Modernize Accounting Systems

Japanese Megabank Works with Oracle to Modernize Accounting Systems
SMBC Group selects Oracle Fusion Cloud ERP to consolidate systems across group companies
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AUSTIN, Texas, May 11, 2021 /PRNewswire/ -- Sumitomo Mitsui Financial Group, Inc. (SMBC Group) has selected Oracle Fusion Cloud Enterprise Resource Planning (ERP) to consolidate accounting functions as part of its efforts to streamline business processes. SMBC Group will implement its shared services across its group companies.
"We decided to modernize accounting operations as part of our business and IT transformation to further accelerate efficiencies and enhance group management. This is a very complex project, but we believe that we can make it a success by utilizing the superior functionality and scalability of Oracle Cloud ERP. We expect this system will make a significant contribution to our management infrastructure; strengthen the corporate value of the SMBC Group companies and make us more competitive as a group," said Shoji Masuda, Senior Managing Corporate Executive Officer, Group CIO, SMBC Group.

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