Strategic Implementation Advisor for Piraeus Bank's New Financial ERP System
The implementation of Piraeus Bank’s new Financial ERP System was successfully completed in 2024, with PwC Greece acting as the bank’s strategic advisor throughout this highly complex and demanding initiative.
This project was a cornerstone of Piraeus Bank’s broader transformation strategy, aimed at modernizing internal operations, streamlining processes, and enabling faster access to financial information for both management and the investment community.
The solution involved building a modern, cloud-based ecosystem that delivers tailored support for integrated financial processes through a unified platform. It leverages the Rise with SAP S/4HANA Private Cloud Edition to power core financial functions, complemented by cloud tools hosted on Microsoft Azure.
The project required 18 months of intensive work by all involved parties, with the project team consisting of approximately 100 people from both Piraeus Bank and PwC Greece.
How we helped
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. 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."
"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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