FDC Utilities Streamlines Financial Solutions with SAP

FDC Utilities, Inc. (FDCUI), the utilities arm of one of the Philippines’ leading conglomerates, Filinvest Development Corp., has selected SAP FICO to streamline key finance and accounting functions in the company.

SAP FICO consists of SAP Financial Accounting (FI) and SAP Controlling (CO), two major modules of the SAP Enterprise Resource Planning solution. SAP Financial Accounting is a core module where all the financial processing transactions are captured. The SAP Controlling module helps provide operational information to support business analysis and decision making.

“With SAP FICO, we have more confidence in the accuracy and speed of our accounting system,” said Mario Pangilinan, Executive Vice President, FDCUI. “Before implementing SAP FICO, we manually recorded financial transactions, which gave us results that were not in real time. SAP has helped us achieved efficient recording of transactions and timely reporting of financial results.”

The implementation of SAP FICO has also enabled the company to create customized Bureau of Internal Revenue-accredited reports and allow a more accurate reporting of withholding taxes remitted to the government.

FDCUI hopes to contribute to the development of the country by bringing electricity and water to potential growth areas in the Philippines. The company plans to build multiple power generation projects in the next five years across the Philippines.

“SAP FICO will certainly help us move forward with these projects in the coming years because it allows the company to make crucial management decisions expeditiously and accurately.” Pangilinan added.

Said Darren Rushworth, Managing Director, SAP Philippines: “SAP enables FDCUI to record its financial reports in real time. SAP FICO helps FDCUI achieve efficiency and timeliness in the generation of their financial reports.”

About SAP
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 253,500 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

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.

© 2014 SAP AG. 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 AG in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.

Note to editors:
To preview and download broadcast-standard stock footage and press photos digitally, please visit www.sap.com/photos. On this platform, you can find high resolution material for your media channels. To view video stories on diverse topics, visit www.sap-tv.com. From this site, you can embed videos into your own Web pages, share video via email links, and subscribe to RSS feeds from SAP TV.

Follow SAP on Twitter at @sapnews.

For customers interested in learning more about SAP products:

Global Customer Center: +49 180 534-34-24

For more information, press only:
Carel Villanueva, 8480181, carmelo.arthur.villanueva.jr@sap.com
Selina Yeo, +65 66644436, selina.yeo@sap.com
Michael E. Dugenia, 09228599212, medugenia@teamprcinc.com
Alvin A. Marayan, 09228599213 alvin_marayan@teamprcinc.com

Closing this window will discard any information entered and return you back to the main page