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MarketScreener Homepage  >  Equities  >  Stock Exchange of Thailand  >  Siam City Cement    SCCC   TH0021010Z06

SIAM CITY CEMENT

(SCCC)
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Siam City Cement : Continues Procurement Transformation with SAP Ariba Solutions, Now Localized for Thailand

11/24/2020 | 08:35am EST

SAP SE (NYSE: SAP) today announced Siam City Cement Company (SCCC), one of Thailand's largest cement producers, has renewed its investment in SAP Ariba solutions to further digitalize its end-to-end procurement processes.

An innovative supplier of cement products, services and solutions, SCCC has been a staple in Thailand's development for more than 50 years and is expanding its operations to Cambodia, Vietnam, Bangladesh and Sri Lanka.

'From the beginning, we saw our procurement transformation as an opportunity to bring more value to the organization and to our network of suppliers in Thailand and beyond,' Siam City Cement Co. Head of Group Procurement Benjamin Goodwin said. 'Our recent renewal of SAP Ariba solutions is a result of the successful partnership cultivated over the years, which set us up to achieve process efficiencies and cost savings from automation, standardization and improved collaboration with suppliers. We look forward to continuing our journey with SAP.'

After adopting SAP Ariba solutions for sourcing, contracts, catalogs, supplier information management and supplier collaboration in 2016, SCCC renewed its investment in SAP Ariba solutions to help support its growth. The company plans to implement the SAP Ariba Strategic Sourcing Suite and the SAP Ariba Supplier Lifecycle and Performance solution to take advantage of the latest innovations from SAP and further refine its procurement operations.

As of the August 2020 release, SAP Ariba solutions now support the Thai language, making it easier for buyers and suppliers to communicate and transact over Ariba Network. Thai companies like Siam City Cement often work with local small and midsize businesses that face adoption challenges because of language barriers. The Thai localization of SAP Ariba solutions will help drive adoption and increase value to buyers and suppliers alike.

Exogro, one of SCCC's suppliers helping it reduce sourcing costs for maintenance and operations, started using Ariba Network to receive and respond to purchase orders digitally. The automation enabled by the SAP Ariba solutions improves the overall experience of both parties by making it easier to transact.

'As a supplier to Siam City Cement Co., Ariba Network has been integral to our successful relationship,' said Prakasit Yarnprasithwet, managing director, Exogro. 'Processing orders and invoices automatically - and in our native language - simplifies the process and keeps our business running smoothly and optimally.'

With the upgraded SAP Ariba solutions, SCCC plans to further digitalize post-purchase order processes including invoice automation and remittance visibility. By automating its end-to-end source-to-pay process on one cloud-based platform, SCCC will become more efficient and able to provide a positive experience for its staff and suppliers across Thailand, Vietnam and Sri Lanka. The procurement transformation and enhanced visibility into spend enables SCCC's procurement team to make better informed business decisions to help generate cost savings.

Gareth Bowen, SAP Ariba and SAP Fieldglass Southeast Asia regional vice president, said: 'As the first procurement transformation enabled by SAP Ariba solutions in Thailand, Siam City Cement Co. has set a new benchmark for the region. Centralizing and standardizing procurement in the cloud has already helped the company achieve efficiencies not possible without digitalization. SCCC's renewed investment in SAP Ariba solutions will extend the benefits to its growing network of suppliers, especially those who were asking for a localized user experience.'

For more information visit the SAP News Center. Follow SAP on Twitter @SAPNews.

Media Contacts:

Geraldine Lim, +1 (415) 418-0945, geraldine.lim@sap.com, PT

SAP Press Room; press@sap.com

Panithida Phongphaew, +66818129381, panithida.phongphaew@sap.com, ICT

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,' 'predict,' 'should' and 'will' and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ('SEC'), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

2020 SAP SE. All rights reserved.

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SAP SE -0.65% 103.52 Delayed Quote.-3.45%
SIAM CITY CEMENT 0.35% 144 End-of-day quote.6.27%
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Financials
Sales 2020 45 696 M 1 519 M 1 519 M
Net income 2020 3 503 M 116 M 116 M
Net Debt 2020 22 645 M 753 M 753 M
P/E ratio 2020 12,3x
Yield 2020 6,21%
Capitalization 42 912 M 1 427 M 1 427 M
EV / Sales 2020 1,43x
EV / Sales 2021 1,33x
Nbr of Employees -
Free-Float 27,2%
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Mean consensus BUY
Number of Analysts 5
Average target price 174,60 THB
Last Close Price 144,00 THB
Spread / Highest target 38,9%
Spread / Average Target 21,3%
Spread / Lowest Target 4,17%
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Managers and Directors
NameTitle
Siva Mahasandana Chief Executive Officer & Director
Paul Heinz Hugentobler Chairman
Mark Anatol Schmidt Chief Financial Officer
Harald Link Independent Non-Executive Director
Chachchon Ratanarak Non-Executive Director
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