Webcash Makes Strategic KRW 5 Billion Investment in ISTN to Broaden SAP-Integrated Solutions
Webcash, a South Korean B2B fintech specialist, has executed a strategic investment of KRW 5 billion in ISTN. Established in 2002, ISTN is a professional consulting firm for SAP, the global leader in ERP solutions. Currently, ISTN supports business innovation for companies implementing SAP through various services, including ‘T-Solution’ for fund management and ‘iACCOUNTING5’ for integrated electronic document management.
With this investment, Webcash plans to intensify and differentiate its marketing efforts targeting SAP’s clientele, which constitutes 90% of the market for super-large ERP systems, through close business collaboration with SAP.
To achieve this, Webcash will initially provide three new products integrated with SAP to the super-large company market: ‘WeHub for SAP’ for financial linkage solutions, ‘IHB for SAP’ for integrated financial management solutions, and ‘TaxBill365 for SAP’ for electronic tax invoice solutions. Among these, ‘TaxBill365 for SAP,’ an electronic tax invoice solution co-developed with ISTN, is already being provided to POSCO DX.
Furthermore, Webcash intends to pursue joint R&D and new product affiliation marketing targeting ISTN’s approximately 120 corporate clients, as well as co-marketing for 600 companies slated for S/4 HANA transition by 2027. Additionally, Webcash plans to expand its partnerships with SAP partners, group IT subsidiaries, and SAP consulting firms to foster a mutually beneficial business ecosystem.
Wonju Kang, CEO of Webcash, expressed, “Through our collaboration with ISTN and our integrated SAP strategic solutions, we aim to expand our finance and fund operations in the super-large company market. Moving forward, we will continue to collaborate, invest, and engage in research and development with SAP partners to provide superior solutions to our super-large corporate clients.”
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