Press release
Dec 22, 2005
Norway's largest bank, DnB NOR, selects Prodacapo's system for ABC/M
Norway's leading bank, DnB NOR, is implementing the Prodacapo software solution for ABC/M (activity based costing/ management) to increase its profitability.
“The Prodacapo solution means that we will be able to identify our costs per customer, product, and channel, which isn't possible with our conventional financial systems. The Prodacapo software will provide sales associates, business management at different levels, and corporate management with better information to improve profitability per customer, product, and channel,” says Jarle Borgen, Manager for Activity Based Costing at DnB NOR.
DnB NOR, with 10,000 employees, is Norway's leading bank for private individuals, companies, and institutions.
“This deal means that yet another large bank has chosen Prodacapo and it's also our first large transaction in Norway. Although the country is a neighbor, we haven't sold that much in Norway before,” says Fredrik Wastenson, CEO at Prodacapo.
Examples of other Prodacapo customers in the banking sector include SEB, Barclays Bank, and Royal Bank of Scotland.
“Nine out of ten companies today do not know which customers and products are profitable and which ones aren't. This makes their work difficult. This is also true for the Nordic banks, which are profitable today, but face the challenge of maintaining and improving their profitability,” says Fredrik Wastenson, CEO at Prodacapo.
DnB NOR has extensive experience from working with Activity Based Costing in other tools and had a clear picture of their requirements when conducting the selection and evaluation process.
“We selected the Prodacapo system because it fulfilled our requirements best. Prodacapo also scored highest when we compared the price /quality ratio,” says Jarle Borgen.
For more information about DnB NOR, please visit www.dnbnor.com
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