Guangdong Development Bank Strengthens Financial Management

Overview

Guangdong Development Bank (GDB) was established in September 1998 with the approval of the State Council and The People's Bank of China. The bank wanted to establish a unified finance and accounting system to improve management and boost competitiveness and ensure the accuracy and currency of financial and accounting information, and enable data to be shared across the bank. The challenge was to review internal procedures to minimize risk, improve productivity, and reduce costs and undertake accounting reforms to meet global regulations. The bank implemented Oracle Financials, Oracle Assets, and Oracle Internet Expenses as the foundation of an integrated finance management platform. The bank expanded global business with support for multi-currency and multi-accounting principles, enabling GDB to work closely with foreign banks and other financial institutions.