Corinthians adopt new strategy to tackle financial crisis | OneFootball

The Corinthians announced on Tuesday night the strategic adoption of SAP Concur, a global leader in expense management solutions. The move aims to modernize internal processes and enhance the club's financial management.

The focus will be directed towards controlling internal expenses. According to Corinthians, the technology “will allow greater automation, accuracy, and visibility throughout the spending cycle, eliminating inconsistencies in the financial flow and enabling more rigorous expense monitoring.”

“We are committed to making Corinthians increasingly efficient, transparent, and prepared for the future. The adoption of SAP's solution is an important step in the evolution of our financial management and in strengthening the club institutionally,” celebrated president Osmar Stabile.

“We are excited to support Corinthians in this important journey of digital transformation and improvement of governance and expense management processes, with transparency and efficiency,” reinforced Denis Tassitano, vice president of SAP Concur for Latin America and the Caribbean.

See Corinthians' statement:

“In pursuit of improving its financial management, Sport Club Corinthians Paulista officially announces the adoption of SAP Concur, a global leader in expense management solutions. An important step in modernizing the club's internal processes, reinforcing the commitment to efficiency, transparency, and governance of the current management.

With the implementation of SAP Concur, Corinthians begins a journey of structured improvement of the club's financial area, with a special focus on controlling internal expenses. The technology will allow greater automation, accuracy, and visibility throughout the spending cycle, eliminating inconsistencies in the financial flow and enabling more rigorous expense monitoring.

For Corinthians, the adoption of SAP Concur reinforces the construction of a more professional management aligned with the demands of modern football. “We are committed to making Corinthians increasingly efficient, transparent, and prepared for the future. The adoption of SAP's solution is an important step in the evolution of our financial management and in strengthening the club institutionally,” stated Corinthians president, Osmar Stabile.

With this initiative, Corinthians reaffirms its commitment to innovation and the implementation of practices that ensure responsible, modern, and efficient administration.

“We are excited to support Corinthians in this important journey of digital transformation and improvement of governance and expense management processes, with transparency and efficiency,” reinforces Denis Tassitano, vice president of SAP Concur for Latin America and the Caribbean.

About SAP

As a global leader in artificial intelligence and business applications, SAP (NYSE:SAP) is at the center of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting critical operations that span finance, procurement, HR, supply chain, and customer experience. For more information, visit http://www.sap.com.”

Financial Crisis

Corinthians is going through a serious financial crisis. The club has struggled to pay creditors and is burdened by a gross debt that already exceeds R$ 2.7 billion.

As published by Gazeta Esportiva this Tuesday, the Timão delayed the payment of the first installment of the 13th salary to the employees of Parque São Jorge.

The board, led by Osmar Stabile, has been seeking ways to gain financial relief. One of the alternatives is to reduce costs across all departments of the club. Additionally, the board is considering taking a R$ 100 million loan with LFU (Liga Forte União).

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.