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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  IDP Education Limited    IEL   AU000000IEL5

IDP EDUCATION LIMITED

(IEL)
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IDP Education : Intelligent Spend Solutions from SAP to Support IDP Education's Growth

10/14/2020 | 08:38am EST

SAP SE (NYSE: SAP) today announced that IDP Education, a global leader in international education services, has implemented SAP Ariba and SAP Concur solutions to simplify its procure-to-pay processes across its global operations.

Since the global rollout, IDP has increased the percentage of spend contracted with preferred suppliers connected to Ariba Network, helping to increase efficiencies, improve collaboration with suppliers and drive cost savings. Since its phase one rollout in June 2019, IDP's staff have been able to create more than 4,100 purchase orders using SAP Ariba solutions and submit over 4,900 expenses with SAP Concur solutions.

As a result of its digital transformation, IDP drove cost savings of A$5 million in the first year alone, which equates to 5 percent of the company's addressable spend. IDP's procurement of technology demonstrates how these savings were achieved. Due to its rapid digitalization, IDP focused on ensuring its staff had access to quality technology tools and needed a global procurement process for laptops and notebooks. Since the implementation of SAP Ariba solutions, the organization has consolidated its suppliers, and by doing so, together with the power of the SAP Ariba Sourcing solution, was able to reduce the average cost of each laptop by 29 percent.

'SAP Ariba and SAP Concur solutions have enabled us to streamline ways of working globally, improve supplier governance and derive data-driven decisions that are helping to create operational efficiencies and deliver cost savings business-wide,' IDP Chief Financial Officer Murray Walton, said. 'This investment enables us to establish the foundations we need for growing our business and delivering a world-class user experience to our staff.'

With more than 120 offices in 32 countries, Melbourne-based IDP is a global leader in helping students study overseas and also co-owns the world's most trusted English language test.

To support its continued growth, IDP needed a single digital platform to streamline its procurement processes, deliver a consistent user experience across markets and drive greater efficiencies for its staff. With the help of SAP ANZ's intelligent spend management award-winning partner excelerateds2p, the company implemented SAP Ariba and SAP Concur solutions to help standardize procurement processes across 28 countries, increase visibility into direct and indirect spend, improve access to real-time data and analytics, and eliminate manual tasks.

'With intelligent spend management solutions in place, IDP will now be able to extract insights in real time, enabling staff to make more-informed purchasing decisions aligned with corporate compliance goals,' said Henrik Smedberg, SAP Ariba and SAP Fieldglass ANZ regional vice president. 'This will not only lead to more efficient operations; it will also continue to help drive cost savings with preferred suppliers around the world.'

According to excelerateds2p APAC Regional General Manager Joe Bellofiore: 'This partnership has already delivered significant benefits by reducing the time spent on procurement processes through automation and standardization, enhancing the amount of spend under management and providing greater alignment between business units across IDP's global offices. It's a showcase for SAP's intelligent spend management solutions.'

Visit the SAP News Center. Follow SAP on Twitter at @SAPNews.

About SAP

SAP's strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77 percent of the world's transaction revenue touches an SAP system. Our machine learning, Internet of Things (IoT) and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want - without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously and make a difference. With a global network of customers, partners, employees and thought leaders, SAP helps the world run better and improve people's lives. For more information, visit www.sap.com.

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.

For customers interested in learning more about SAP products:

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

United States Only: 1 (800) 872-1SAP (1-800-872-1727)

For more information, press only:

Geraldine Lim, +1 (415) 418-0945, geraldine.lim@sap.com, PT

Fred Azis-Laranjo, +61 455 504 197, fred.azis-laranjo@sap.com, AEDT

SAP Press Room; press@sap.com

Natalie Carter, Howorth Communications, +61 450 644 312, natalie@howorth.com.au, AEDT

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.

2020 SAP SE. 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 SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.Please consider our privacy policy. If you received this press release in your e-mail and you wish to unsubscribe to our mailing list please contact press@sap.com and write Unsubscribe in the subject line.

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
IDP EDUCATION LIMITED -1.40% 25.28 End-of-day quote.47.23%
SAP SE 0.60% 100.14 Delayed Quote.-16.77%
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Financials
Sales 2021 548 M 406 M 406 M
Net income 2021 52,4 M 38,8 M 38,8 M
Net cash 2021 257 M 190 M 190 M
P/E ratio 2021 142x
Yield 2021 0,37%
Capitalization 6 909 M 5 108 M 5 114 M
EV / Sales 2021 12,1x
EV / Sales 2022 8,29x
Nbr of Employees 1 684
Free-Float 59,2%
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 21,28 AUD
Last Close Price 24,88 AUD
Spread / Highest target 0,86%
Spread / Average Target -14,5%
Spread / Lowest Target -39,8%
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Managers
NameTitle
Andrew Barkla Chief Executive Officer, MD & Executive Director
Peter Leith Polson Chairman
Harmeet Pental Chief Operating Officer
Murray Walton Chief Financial Officer & Secretary
Gregory C. West Non-Executive Director
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