SAP has signed a global finance agreement with SingEx Holdings to deploy S/4HANA Cloud as part of expansion plans into Southeast Asia, China, India and the UK.
Terms of the alliance will see the Singapore-based business work with SAP to build an “adaptable and scalable” global finance system designed to support diverse market requirements worldwide.
Operating as a subsidiary of Temasek Holdings - one of Singapore’s largest investment holding companies - SingEx houses four organisations providing integrated solutions for venue management and consultancy, exhibition and conference organising services and international exhibition related ventures.
“Through this collaboration, SingEx is currently developing a longer-term digital roadmap that includes the extension of services and integration with our ecosystem of front-end sales, marketing and fulfilment systems,” said Rizwan Hazarika, chief of digital and technology office, SingEx. “SingEx is also exploring solutions for food and beverage services, data management, analytics and warehousing solutions.”
As part of widespread transformation plans, the new finance system will be powered by S/4HANA along with SAP Cloud Platform, SAP Analytics Cloud and Opentext Cloud.
SingEx’s new system will also support the “swift development” of more "comprehensive planning models", in a move designed to provide more enhanced insights and improved decision making. SAP's offering will also feature planning, business intelligence, predictive analytics and machine learning capabilities.
“With the successful roll-out of the first SAP S/4HANA Cloud implementation in Singapore and its overseas subsidiaries, SingEx moves closer to full digitalisation and achieves actionable insights across the business, creating value for our internal and external stakeholders,” added Desmond Goh, CFO of SingEx.
“Strategic adoption of leading technologies and digital initiatives at SingEx Holdings will continue to drive better decision making through the use of analytics and to bolster data governance and reporting.”
At a global level, the meetings, incentives, conventions and exhibitions (MICE) market is projected to reach $1.4 trillion by 2025, with Asia Pacific expected to account for $440 billion of spending within the next six years.
To capitalise on such growth, SingEx has embarked on a digital transformation agenda to "drive efficiencies and develop new go-to-market strategies" at a global level.
“Technology has become a key differentiator in an increasingly competitive global MICE market,” said Khor Chern Chuen, managing director of Singapore, SAP. “As a leader in this space, it may be critical for SingEx to harness technology to differentiate its offerings so the company continues to stay ahead of the curve.
“Our collaboration with SingEx will build a strong digital core for the company, helping it transition into an intelligent enterprise where data is transformed into actional insights. This helps SingEx to scale and transcend borders, forging a new growth path for a digital future.”