Project
PwC Greece successfully completed the implementation of Piraeus Bank's new Financial ERP system, acting as the strategic implementation advisor throughout the complex project.
Objective
The project aimed to modernize internal operations, automate processes, and provide rapid financial information to management and investors.
Solution
The solution uses "Rise with SAP, S/4HANA Private Cloud Edition" combined with cloud tools on Microsoft Azure. PwC Greece was responsible for designing, implementing, and managing the change, including training all employees. A strategic change management plan was implemented to prepare the organization for the transition and engage staff in the new way of working.
Strategic Importance
The project is part of Piraeus Bank's broader digital transformation, ensuring automation, standardization of accounting processes, and faster financial reporting.
Next Steps
To be added
The implementation of Piraeus Bank's new Financial ERP System was completed in 2024, with PwC Greece serving as the bank's strategic advisor throughout this highly complex and demanding project.
The project was strategically important for Piraeus Bank and part of the broader transformation. It aimed to modernize internal operations, automate processes, and provide rapid financial information to both management and the investment community.
The solution related to the development of a modern ecosystem in a cloud environment, as well as a single source of tailored solutions and support for integrated processes.
The solution uses the Rise with SAP, S/4HANA Private Cloud Edition to support financial functions, combined with cloud tools on Microsoft Azure.
PwC Greece undertook the design, implementation, and management of the upcoming change, which included training all employees up to the trial and production operation of the new Financial ERP. Their primary goal was to design and then implement a comprehensive solution that fully meets the bank's strategic goals, while aligning with Piraeus's broader digital transformation project, leveraging strategic partnerships. The success of the Transformation was supported by the implementation of a strategic Change Management plan, preparing the organization for the transition to the new system and engaging staff in the new way of working.
The new Financial ERP's ensures automation and standardization of accounting processes, efficiency, resource optimization, and acceleration of the Financial Statements Closing Process.
"The design, implementation, and eventual deployment of the new ERP System is an extremely complex, strategically significant project that offers multiple benefits to Piraeus," said Kyriaki Plastira, Partner and Head of Finance Transformation at PwC Greece, adding: "By leveraging cutting-edge technologies, it integrates seamlessly into the bank's broader digital transformation, modernizing, simplifying, and accelerating a range of processes. We are particularly proud of our role as strategic advisor in implementing such a pivotal and demanding project, which we completed according to the original plan through flawless collaboration with the Piraeus team."
On his part, Alexandros Emmanouil, Chief Technology Officer - General Manager of Piraeus, stated: "Piraeus, as part of its program for the digital transformation of its support functions, invested in RISE with SAP S/4HANA for the new Financial ERP. The transition is strategically significant for the bank, as it is not just about changing a financial application, but aims to transform the Finance Division, with the goal of modernizing internal operations, automating processes, and providing rapid financial information to both management and the investment community. Furthermore, the new Financial ERP is another important step in the technological transformation, following Piraeus's cloud-first architecture, which is also a goal for the development of new partnerships and solutions in a quick timeframe, while enhancing the redesign of business processes, increasing productivity and efficiency, as well as data reliability and security. Teams from both the bank and PwC participated in this demanding project, contributing to its successful completion with dedication to the goal, professionalism, and above all vision, in relation to the targets and timeline set."
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