(TBTCO) – Recently, the connection service between the ERP system of Vietnam National Oil and Gas Group (Petrovietnam) with the open banking system (Open Banking) of Vietnam Public Commercial Joint Stock Bank (PVcomBank) has officially come into operation. dynamic, opening up many opportunities for comprehensive cooperation and development for the two sides in the near future.
ERP (Enterprise Resource Planning) is known as a software system that allows storing and managing information and work processes of a business, helping to effectively optimize operating costs. production and business, increase product quality…
Under the influence of the 4.0 industrial revolution, ERP is increasingly being applied by many businesses in different fields. At Petrovietnam, the ERP System project was launched in 2019, in which phase 1 focuses on the following tasks: financial accounting, management accounting, treasury and cash flow management, budget planning. and forecasting, portfolio management… Up to now, ERP is ready to receive banks’ products and services into the system.
In the financial accounting subsystem, Petrovietnam has trusted PVcomBank as its partner to integrate banking and financial features into the ERP system to optimize balance tracking at the bank. With the advantage of experience in implementing financial solutions for businesses in the oil and gas industry, energy and technology platforms, modern core banking,
PVcomBank is ready to directly integrate ERP into the Open Banking system to provide products and services for the group. From this connection, PVcomBank aims to provide services through Open API and together with Petrovietnam build a banking and financial product ecosystem on the group’s own ERP operating management system.
In addition, the open banking system also provides necessary tools for businesses to analyze balance status and manage cash flow effectively. Petrovietnam is a unit currently transacting at many banks with a nationwide network of partners.
Manually performing and updating financial reporting results at a time is relatively difficult and errors may occur. Therefore, connecting to Petrovietnam’s ERP system with API for the features of debit, credit, balance, statement… will help Petrovietnam’s accounting department reduce some manual operations and records. , paper documents, thereby minimizing operating costs, saving time and resources for cross-checking between the two parties, increasing convenience in the transaction process as well as monitoring and reporting activities. accouting financial…
The Group will also easily monitor and control financial issues, thereby offering appropriate business development policies, closely following the actual situation.
 |
| PVcomBank and Petrovietnam cooperated to successfully connect Open Banking services. |
Sharing about the project, Ms. Ha Thi Thu Trang (Deputy Director of PVcomBank Digital Bank) said: “The implementation of the project to provide connection services between Petrovietnam’s ERP system and the open banking system is proof represents PVcomBank’s strong strides in the development process and always goes hand in hand with the group’s digital transformation. This also affirms PVcomBank’s ability to provide modern, diverse digital financial solutions to customers in many fields as well as contributing to creating competitive advantages, affirming reputation and brand position in the market. ”.
Talking about the importance of this project, Mr. Doan Trong Sinh (Head of ERP Solutions – Petrovietnam) emphasized: “Petrovietnam is a large economic group with a large number of transactions arising every day at banks.” and each bank has many different account numbers. Therefore, the need to manage cash flow or balance at any time requires a lot of time and resources. To solve this problem, on the digital transformation roadmap, we have also successfully integrated the SAP ERP system with the banking system, choosing to connect with 3 banks with a large number of transactions. , including PVcomBank. This project is expected to bring a comprehensive solution on a digital technology platform to reduce control time, increase accuracy as well as increase operational efficiency for Petrovietnam in the near future.”
Not only is it one of the first three banks to connect to Petrovietnam’s ERP system, PVcomBank is expected to continue to approach and deploy open banking services at other subsidiaries and member companies of the group. group in the future.
Judging from many aspects, this is also a favorable opportunity for the bank to increase the proportion of using Petrovietnam products and services at PVcomBank, thereby increasing revenue and profits for the bank./.
