UK neobank Monzo has recently partnered with SAP and NTT DATA, opting for the GROW with SAP solution to streamline its finance IT systems and fully embrace cloud technology. In today’s fast-paced market, companies like Monzo face challenges such as robust data management and the need to adapt quickly to market changes. An effective ERP solution is essential for streamlining operations and supporting sustainable growth.
GROW with SAP, supported by NTT DATA, is tailored for fast-growing organizations like Monzo, offering a suite of integrated modules that cover vital functions like finance, sales, marketing, procurement and HR. This solution helps businesses maintain control over finance and sourcing processes while reducing manual work and improving data reconciliation and reporting capabilities.
NTT DATA Business Solutions plays a key role in implementing GROW with SAP. As a systems integrator, NTT DATA brings expertise and flexibility, helping businesses customize their ERP solutions to meet specific legal and regulatory requirements. Their involvement ensures that companies can fully benefit from SAP’s cloud-based technology.
Monzo’s decision to implement SAP BTP and GROW with SAP for Scaleups is aimed at significantly reducing manual work in Monzo’s finance department and improving data reconciliation and reporting processes.
Wesley Doyle, head of new business growth markets, UKI, said: “Since it started in 2015, Monzo has been on a meteoric rise. Sustained growth requires the right blend of forward-thinking management, cloud-based technology and strategic financial planning. Monzo has all these elements in place and with the speed, flexibility and agility of the cloud, it will be able to accelerate its growth, react quickly to external trends and continue to innovate.”
Monzo’s collaboration with SAP and NTT DATA Business Solutions is part of a broader strategy involving multiple technology partners. Recently, Monzo has also worked with Google Cloud for data storage, visualization and analysis. By leveraging advanced analytics and machine learning, Monzo aims to make faster, more accurate decisions, enhance risk management and provide superior customer experiences.
