SAP AG (NYSE: SAP) today announced that Valero Energy (NYSE: VLO) has signed a global enterprise agreement (GEA) with SAP that will create a tighter relationship between the two companies including a particular focus on collaboration on solution innovation and development over the next five years. Valero will work with SAP to combine both companies' industry expertise with leading product offerings from SAP to create a scalable, innovative and flexible global IT landscape across Valero's offices and 16 oil refineries throughout the United States, Canada and the Caribbean.
The agreement extends SAP's leadership in offering comprehensive enterprise software to address the demands of an oil and gas industry marked by rising costs, increased global competition and complex supply chains. As companies in the industry strive for greater profitability and market share, the ability to adapt to shifting global market conditions, collaborate with trading partners and innovate to meet consumer demands is vital.
"We are looking forward to leveraging the global enterprise agreement with SAP as we aim to drive innovation and efficiency in our core business operations," said Hal Zesch, senior vice president and CIO, Valero. "We see this relationship as highly strategic, seeking to create value both for SAP and Valero. Initiatives that encourage and enable innovation must be incorporated into a company's operations to stimulate growth."
A Valero software partner since 1997, SAP has supported core business processes such as finance and supply chain management for the company. The GEA includes software, software maintenance and strategic software developments. By entering a GEA, SAP will focus on:
- Leveraging the SAP portfolio to streamline Valero's core business processes and enable "Business Self Service" strategy.
- Collaboration on a world-class energy solution with the Sustainability team at SAP.
- Driving value across Valero's business network.
- Co-innovating with Valero to extend and standardize its operational performance and risk management capabilities.
- Partnering with Valero to lower the total cost of Valero's IT landscape.
“Valero’s extended commitment to SAP as its strategic business partner is a testament to SAP’s continuing leadership and innovation across diverse industries,” said Bill McDermott, member of the Executive Board and president, Global Field Operations, SAP AG. “In adding Valero to our respected list of GEA customers, we further demonstrate the value that the broad portfolio of SAP solutions brings to the world’s most innovative and successful companies.”
The agreement extends SAP's leadership in offering comprehensive enterprise software to address the demands of an oil and gas industry marked by rising costs, increased global competition and complex supply chains. As companies in the industry strive for greater profitability and market share, the ability to adapt to shifting global market conditions, collaborate with trading partners and innovate to meet consumer demands is vital.
"We are looking forward to leveraging the global enterprise agreement with SAP as we aim to drive innovation and efficiency in our core business operations," said Hal Zesch, senior vice president and CIO, Valero. "We see this relationship as highly strategic, seeking to create value both for SAP and Valero. Initiatives that encourage and enable innovation must be incorporated into a company's operations to stimulate growth."
A Valero software partner since 1997, SAP has supported core business processes such as finance and supply chain management for the company. The GEA includes software, software maintenance and strategic software developments. By entering a GEA, SAP will focus on:
- Leveraging the SAP portfolio to streamline Valero's core business processes and enable "Business Self Service" strategy.
- Collaboration on a world-class energy solution with the Sustainability team at SAP.
- Driving value across Valero's business network.
- Co-innovating with Valero to extend and standardize its operational performance and risk management capabilities.
- Partnering with Valero to lower the total cost of Valero's IT landscape.
“Valero’s extended commitment to SAP as its strategic business partner is a testament to SAP’s continuing leadership and innovation across diverse industries,” said Bill McDermott, member of the Executive Board and president, Global Field Operations, SAP AG. “In adding Valero to our respected list of GEA customers, we further demonstrate the value that the broad portfolio of SAP solutions brings to the world’s most innovative and successful companies.”
