SAP Tech News Overview for February 2020 - Safe O'Clock

SAP Tech News Overview for February 2020

March 4, 2020

SAP.iO Foundry Munich cohort attracts new startups

Six German startups have joined the SAP Second Acceleration Program for Marketing and Commerce. The main emphasis was placed on business-to-business (b2b) startups such as StorifyMe, nyris, squarelovin, Frontastic, Velou, Alcméon. Collaboration with SAP will enable startups to use the company’s technology, as well as provide an opportunity to work with SAP customers.

For the seventh consecutive year, SAP has been a leader in sales performance management

According to the latest Gartner report, SAP Sales Cloud solution is a leader in sales performance management. SAP software enabled leading companies, such as Lenovo, Docker, Pivotal Software to optimize revenue and increase their planning efficiency.

Paula Hansen, chief revenue officer and co-head of SAP Customer Experience, said “SAP’s SPM solution includes analytics with machine learning that increases operational efficiency and planning effectiveness, which helps turn sales professionals into a profitable sales machine.”

SAP and Swiss Re innovation project offers new financial accounting and planning features

Swiss Re and SAP have been partners since 2017 and have been developing solution “related to financial steering and reporting of insurance companies from regulators across the globe”, according to Swiss Re Reinsurance CFO Gerhard Lohmann. The solution includes the latest features that will expand financial reporting capabilities for banks and insurance companies. Thanks to this solution, companies can produce multiple reconciled valuations for financial products and streamline accounting flows.

Luka Mucic, SAP CFO and member of the Executive Board of SAP SE, commented “We have seen enormous interest in the solution. Our customer base has rapidly expanded to 39 in the first year, and hundreds of entities signed up for it. The solution is designed for the complex regulatory and reporting requirements that insurance firms, banks, fintech companies and financial corporations are facing today. The combination of financial accounting and planning functionality helps the industry prepare for the upcoming accounting standards, such as IFRS 17 and long duration targeted improvements (LDTI).”

Global companies choose SAP Ariba and SAP Fieldglass solutions

Twelve of the world’s largest companies, including Coca-Cola HBC, Allegiant Travel Co., Ford Motor Co., The New York Yankees have chosen SAP Ariba and SAP Fieldglass solutions to optimize supplies, procurement and cost planning.

“In every corner of the world and across multiple industries, digital transformation is driving growth at a pace faster than anything we’ve seen before,” said Pat McCarthy, SAP Ariba and SAP Fieldglass senior vice president and general manager. “Business leaders recognize that central to any successful growth strategy is managing business spend, not just efficiently, but holistically.”

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