KTB go live with Oracle’s Procurement Solution – 1st Oracle live site for Oracle Sourcing11i in Asia

Bangkok, Thailand, July 2003: Oracle Corporation (Thailand) Company Limited, a subsidiary of Oracle Corp. (Nasdaq: ORCL) – the world’s largest enterprise software company – today announced that Thailand’s largest Government commercial banking. Krung Thai Bank Public Co., Ltd. (KTB) has successfully implemented Oracle’s Procurement Solution – a part of Oracle E-Business Suite, including Oracle iProcurement, Oracle Sourcing and Oracle Purchasing Intelligence – to improve web-based operational efficiencies and develop its business operations.

The suite, implemented by Oracle certified partner SOLIX, is the first live site for Oracle Sourcing 11i in Asia. Oracle’s Procurement Solution will help KTB develop a consistent and strategic approach to procurement.

KTB Executive Vice President Mr.Thiravat Vathanathron, said: “By utilizing Oracle’s Procurement Solution, we’ll be able to place and receive faster and smoother orders, bid online with suppliers, optimize our supply base, and achieve greater management control over procurement processes and complex negotiations. This will help us save at least 10-20% on total purchasing costs, while also helping us to drastically reduce requisition-processing costs that will help to reduce the ‘procure-to-pay cycle’ which was previously taking around one month.
“Oracle Sourcing 11i implementation will allow us to conduct online supplier auctions, support all negotiation types with robust buyer and supplier tools, with integrated spend, supplier performance and productivity analysis, as well as reducing costs when transacting volume buying.”

KTB has an estimated 9 million customers and is Thailand’s No. 1 commercial bank in terms of assets. It currently operates 617 domestic and 6 foreign branches and representative offices.

Natasak Rodjanapiches, Oracle Corporation Thailand Managing Director, said: “KTB selected Oracle Applications for its scalability, rich functionality and integrated nature. With Oracle Purchasing Intelligence, KTB will be able to monitor their procurement processes in real time mode. This strategic implementation will also help to position Oracle at the forefront of Sourcing in Asia.”

Amit Puri, Regional Managing Director, Solix Technologies Asia Pacific, added: “By leveraging Oracle’s iProcurement and Sourcing suite of applications, KTB would be able to quickly adapt to world-class supplier relationship management business practices to reduce sourcing costs and overall procure-to-pay cycle timeframe. With this successful implementation, KTB can now target to act as a central nodal exchange for various supplier and contractors to transact with Government departments in Thailand.
We believe that the Oracle Applications we’ve implemented for KTB are highly scalable solutions for cost-effective business growth, while offering ease-of-maintenance through a single code base – certainly something KTB can bank on ! “