G&T Group embarks on digital journey
KARACHI: Gani and Tayub (G&T) Group, the country’s leading group with companies across different sectors, including synthetic and rayon and power generation, has embarked on an enterprise level digital journey with the implementation of SAP for all areas of their operations, including banking and finance, a statement said on Thursday.
After thorough evaluation, Meezan Bank’s transaction banking solution eBiz+ has met G&T’s highest standards for host-to-host connectivity with SAP for payments and collections.
An agreement was signed by the management of respective entities represented by Rizwan Diwan, executive director of G&T Group, Shabbir Diwan, executive director of G&T Group, Muhammad Abdullah Ahmed, group head, corporate and institutional banking, and Muhammad Saqib Ashraf, EVP and head of transaction banking from the Meezan Bank at G&T Tower, Karachi.
As per the agreement, the Meezan Bank will provide its state-of-the-art transaction banking solution (eBiz+) for payments and collections to the subsidiaries of G&T Group, including Gatron (Industries) Limited and Novatex Limited. This core suite of integrated solutions will ensure efficient cash flow management and ease of reconciliation providing the G&T Group with operational excellence.
On the occasion, Rizwan Diwan shared G&T’s ambition for developing G&T as a digital conglomerate signified by the implementation of SAP and appreciated Meezan’s contribution as a banking partner in such an initiative.
Abdullah Ahmed responded in support saying: “As one of the major players in the industry, Meezan Bank is focusing largely on producing and delivering innovative cash management solutions to commercial and corporate businesses in Pakistan.”
“The addition of G&T Group to this growing portfolio is a monumental opportunity for us to offer streamlined cash flow processes via eBiz+ effectively, automating transactions and; thus, reducing the inherent risk of all the companies simultaneously,” he added.
The agreement is expected to strengthen the relationship as the Meezan Bank supports G&T through digitalisation of transactions and efficiently manage day-to-day operations.
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