鈥淥ur CEO wants us to think and act like a digital company,鈥� said Dariush Shoja, vice president and corporate CIO at Sun Life. 鈥淯sing , we are digitizing and modernizing finance.鈥澨�

Shoja spoke during a session at the event in Boston, Massachusetts, where he showcased the company鈥檚 digital transformation that modernized the company鈥檚 finance platform.

Digital Closes Gap Between Generative AI Promise and Reality

Shoja immediately struck a responsive chord from the audience in the room who chuckled when he jokingly asked if anyone鈥檚 nightly dreams during college revolved around a career in finance. Drawing from his company鈥檚 experience with digital transformation, he acknowledged the industry鈥檚 change management challenges.

鈥淲hen we鈥檙e talking about finance in the context of digitization, it鈥檚 not just about automation or systems. It鈥檚 a paradigm and culture shift,鈥� he said. 鈥淵ou need to start at the top with the CEO, CFO, and everyone on down to support the change. Organizations aiming to become digital and adopt state-of-the-art technologies like generative AI should focus on getting buy-in for the journey.鈥�

Modern Financial Services Platforms Are Cloud-Based

Coming from earlier sessions in the day that touted the incredible promise of technology advancements like generative AI, Shoja was also candid about overcoming the reality that professionals in the financial services industry face.

鈥淗istorically there hasn鈥檛 been a significant amount of investment to update finance systems that are aging or nearing end of life. However, we saw the opportunity and made the right investment to modernize,鈥� said Shoja. 鈥淥ne of the key enablers of growth is moving to the cloud. Digitization is creating the foundation for our future as we modernize our platforms.鈥�

Connected Data Drives Informed Decisions

One of the objectives of Sun Life鈥檚 platform modernization was to connect previously disparate data between geographies and business units. With operations in regions worldwide, including North America, Asia-Pacific, and Europe, along with an expanding product portfolio, managing data was paramount to effective financial management that fuels customer satisfaction and company growth.

鈥淲e have to build, evaluate, and run complex actuarial policy models that meet evolving regulatory mandates worldwide and corporate profitability objectives,鈥� said Shoja. 鈥淕oing to the cloud has provided efficiencies through consistent operations across every geography. Moving from manual spreadsheets to automated dashboards provides finance with faster access to insightful analytics from larger and more complex data sets. People can easily drill down to find the information they need to make the right optimal decisions.鈥�

Out-of-the-Box Digital Thinking

Like every organization that鈥檚 managing millions of transactions, data standardization and integration was extremely important to create Sun Life鈥檚 modern global platform.

鈥淓ven though our systems were only about 15 years old, eliminating technical debt was key to our transformation,鈥� said Shoja. 鈥淲e replaced traditional ways of thinking with out-of-the-box strategies, using modern native tools in the cloud platform to gain efficiencies. For example, when we want to pay a claim, the system automatically generates all relevant journal entries. We鈥檝e strategically aligned technology with finance teams.鈥�

AI Can Save Valuable Time for Financial Services

Shoja saw numerous solid use cases for generative AI, traditional AI, and machine learning in the financial services industry. AI could quickly find data gaps, speed up time-sensitive quarterly close, expedite the accrual management, and simplify reporting. Sun Life has created a team that鈥檚 focused on AI use cases in finance and other areas. The company is also relying on partners to bring the full value of AI capabilities into the business.

鈥淟arge language models may not be feasible for organizations to build on our own. Instead, AI can be built into digital solutions,鈥� he said. 鈥淎s 麻豆原创 is doing, we need partners to provide AI solutions and make it part of their package.鈥�

Authorities are starting to involve themselves in business transactions, disrupting well-established business processes and taking control of the invoicing flow between suppliers and buyers. As a result, they have the data needed to prevent tax evasion and start auditing taxpayers automatically or even auto-populating tax returns moving toward tax bills. Additionally, sustainability efforts and climate change regulations further impact tax regulations.

Amid these shifts, 麻豆原创 can provide peace of mind to navigate complexities efficiently. By understanding the evolving tax landscape, businesses can leverage 麻豆原创 solutions to help streamline compliance processes and drive automation to capitalize on emerging opportunities.

麻豆原创 solutions for global tax management are tailored to help address modern tax challenges. 麻豆原创 S/4HANA Cloud can provide transparency and compliance on a global scale, enabling businesses to embed tax requirements in processes.

Through localized solutions that offer standardized but flexible business processes, a complete suite of solutions facilitates efficient tax management, from e-invoicing to statutory reporting and overall tax compliance. With 麻豆原创 technology and expertise, businesses can achieve greater accuracy and agility in tax compliance, paving the way for sustainable growth and competitive advantage.

To help tax professionals prepare for and become valuable members of tax transformation projects, 麻豆原创 is introducing a new course: .

The course is designed to equip professionals with the knowledge needed to navigate today’s tax landscape and learn new capabilities that can be leveraged as part of 麻豆原创 S/4HANA-enabled transformations to simplify tax compliance.

The course offers practical strategies to learn about the different tax types, global developments and their business relevance, and the importance of technology with a focus on 麻豆原创 S/4HANA and 麻豆原创 solutions for global tax management. It begins on April 30 and听. By enrolling in this course, tax professionals can gain valuable insights into industry best practices and leverage the latest 麻豆原创 innovations to help optimize their tax processes.

In a time of rapid change, 麻豆原创 supports businesses on their journey to tax compliance and growth. Through collaboration with 麻豆原创 and a commitment to continuous learning, businesses can navigate the complexities of taxation with confidence and achieve their long-term objectives.

Erika Buson is part of Product Marketing for Global Tax Management and Entity Close at 麻豆原创.

What may sound complicated to outsiders is being celebrated by finance ministers worldwide as a milestone in achieving fair taxation, as the new global taxation rules are expected to dramatically change the international tax landscape and increase the fairness of tax systems.

The majority of countries can look forward to higher tax revenues. It is estimated that, worldwide, between US$100 billion and $240 billion every year is lost in tax revenue as a result of 鈥� until now 鈥� legal tax avoidance techniques such as base erosion and profit shifting. However, for the companies affected by BEPS 2.0 and for tax experts, this new set of rules brings with it a lot of work.

Reducing Tax Avoidance and Tackling Tax Havens

BEPS 2.0 aims to ensure that large multinational enterprises and, in the EU, large-scale purely domestic groups operating in a single market pay a minimum effective corporate tax rate. The project is being driven jointly by the Organization for Economic Cooperation and Development (OECD) and the G20 countries; 141 states were involved in the discussions and the rules were negotiated over several years.

BEPS 2.0 consists of two pillars. Pillar one covers a new system of allocating tax rights over multinationals. In line with the rules, these rights will be reassigned from the country in which the company is located to market jurisdictions where profits are earned without the company being physically present there.

Fifteen Percent Minimum Tax Rate Worldwide

Pillar two introduces a minimum tax rate of 15% for large multinational groups with global revenues of more than 鈧�750 million. Any companies that do not comply with these rules risk facing sanctions. It is this second pillar in particular that requires companies to make numerous adjustments.

鈥淭he new rules mean that we as 麻豆原创 have to decide how we can leverage our solutions to help companies gather all the necessary data,鈥� says Irina Sheftelevich, senior customer advisor of Performance Management, Sustainability, Planning, and Analytics at 麻豆原创. 鈥淥ur software enables our customers to conform to the complex set of regulations and implement them in a transparent manner.鈥�

Collecting the Right Data

奥颈迟丑听, 麻豆原创 offers an application companies can use for multiple use cases such as allocating costs and revenues, calculating transfer prices, and calculating current and deferred income tax, also under the new regulation of BEPS 2.0 Pillar 2. The application collects data and information models from other 麻豆原创 and third-party solutions and compiles it in a data model that helps ensure compliant tax accounting and tax management. Fully integrated with 麻豆原创 S/4HANA, the application can be deployed both in the cloud and on premise. In the application, tax experts can adjust the logic by configuration, harmonizing the E2E process across multiple countries and tax jurisdictions, even after go-live, enabling an optimized tax structure.

麻豆原创 Profitability and Performance Management can connect in real time with the relevant data sources such as 麻豆原创 S/4HANA, 麻豆原创 Business Warehouse, or . Likewise, it can also connect to systems for employee data, tax data, and other financial data. Once the data has been integrated, the focus is on modeling and creating tax calculations and simulations: What if we have losses instead of profits? Which impact has adjusted transfer prices to our effective tax rate? How can we keep our tax burden to a minimum while complying with the new rules on the minimum tax rate?

鈥淚n implementing BEPS 2.0 we must use our solutions to identify and integrate the right data, put the new rules into practice, and ultimately create the necessary reports end to end. It鈥檚 a complex process that can only be modeled and managed in an intelligent way with the help of technology such as 麻豆原创 Profitability and Performance Management,鈥� says Sheftelevich.

Data Requirements for the Global Minimum Tax

Some of the data required for the global minimum tax calculations might have to be calculated specifically for this purpose, according to a . 鈥淗ere, financial and non-financial, structured and non-structured, and transactional and aggregated data is needed,鈥� says Sheftelevich. 鈥淭he hardest part is understanding which data the customer needs and where exactly in their systems it is stored.鈥� It鈥檚 about combining 鈥渂usiness knowledge, technology, and internal efficiency.鈥�

With 2024 fast approaching, not much time is left to achieve this, even if many are speculating that the timeline may be extended. No one should count on such a delay, says Sheftelevich. 鈥淥ur customers and partners are under considerable time pressure. Transitional safe harbor rules haven鈥檛 changed that.鈥�

Complexity Requires Quick Action

What鈥檚 more, countries can adapt certain rules to suit their circumstances. 鈥淭he complexity, data, and time pressure involved make this a huge challenge. A great deal of flexibility will be needed for potential adjustments. Not all the rules have been published yet, and some aspects still need clarification,鈥� adds Sheftelevich.

As the driving force behind the project, the OECD has issued examples that apply to all countries. 鈥淭hat鈥檚 why we are providing a solution that on the one hand takes into account all the basic rules and that on the other hand is agile enough to deal with changes and the specific requirements of individual companies and countries,鈥� says Sheftelevich. The rules on the minimum tax are part of pillar two. Whether there will be further pillars is yet to be seen.

Teaming Up with Tax Advisors and 麻豆原创 Partners

麻豆原创 is discussing all the necessary requirements to meet the new rules with its customers, and in doing so has enlisted the help of the world鈥檚 top four accounting firms. Teams from 麻豆原创 are working with national and international tax offices, tax accountants, and tax technology consultants to help companies understand the complex new rules and assess the possible effects.

To make sure everything is completed in time, the programs and content packages that have been optimized for BEPS 2.0 are being rolled out worldwide in collaboration with 麻豆原创 partners. And consultants are working with these partners to develop a plan so that the affected companies are ready when the rules take effect.

鈥淐ompanies must act now to ensure they are ready for 2024,鈥� advises Sheftelevich. 鈥淐ustomers are extremely interested. Whenever we organize information events on BEPS 2.0, they always get booked up very quickly.鈥�

Thomas Boerner is product owner of 麻豆原创 Profitability and Performance Management.

According to , some businesses have improved their ability to connect finance and accounting processes and standardize critical financial workflows with finance software. Increasing automation with applications, such as the , can provide a foundation for consistent communication, data accuracy, auditable completeness, and efficiency throughout the financial close.

IDC’s methodology for determining business value revealed that these companies realized significant advantages, with three critical benefits generating, on average, 474% ROI and an eight-month payback rate.

Boost Efficiency Through Automation and Visibility

Performing account reconciliation in Excel and e-mailing that information to stakeholders is time-consuming and prevents full visibility into the entire company’s reconciliations. Even worse is the potential for delayed, incomplete, or noncompliant reconciliations with business and regulatory policies.

Introducing automation into the account substantiation process can dramatically reduce the manual effort in validation and reporting, freeing up financial staff resources to focus on higher-value tasking. In IDC’s survey, respondents suggested that 麻豆原创 Account Substantiation and Automation supports their automation of critical steps, including account reconciliation (100%), task management (83%), journal entry (67%), transaction matching (50%), and variance analysis (50%).

After adoption, the average team efficiency increased by 12%. Surveyed companies completed reconciliation activities 18% faster and journal entries 11% faster while increasing the percentage of financial reports yielding accurate results by 3%. Such outcomes mean that the time typically allocated to one full-time employee can be freed up to work on other projects 鈥� translating into an annual productivity-based business value of US$78,800 for each organization participating in the study.

Accelerate Processing with Data Accuracy

Inaccurate data and a lack of trust can become significant bottlenecks in the validation and reporting process. They can hamper overall financial close efficiency, riddle cash validation and reporting with errors, and slow the flow of business-critical insight needed to make critical decisions quickly.

Participating CFOs shared with IDC that the modern capabilities of 麻豆原创 Account Substantiation and Automation minimize those risks. They have achieved improvements, such as shorter time to close and enhanced process transparency. Furthermore, analytics tools help pinpoint areas in account substantiation and reconciliation that require greater attention and improvement.

In return, this benefit elevates the status of finance organizations from a cost center to a value center. For example, CFOs and CIOs can collaborate more to support the business as digital transformation accelerates and digital-first business models emerge and proliferate. This partnership also shifts the criteria used to invest in new financial applications toward a greater focus on security, modern infrastructure, functionality, and ease of use.

Drive Stability by Integrating Workflows

Equal to efficiency and speed, gaining and maintaining control of the validation and reporting process is also critical. The ability to standardize and centralize activities and relevant data is desirable for business environments facing anything from industry uncertainty and economic turbulence to high growth.

Companies interviewed by IDC indicated that using a single, integrated application for account reconciliation, task management, journal entry, transaction matching, and variance analysis is the key to accomplishing this goal. Centralizing all those tasks in 麻豆原创 Account Substantiation and Automation enables them to manage the whole financial close and help ensure annual audits are performed faster, compliantly, and more confidently.

Additionally, the messiness of the traditional financial close experience is replaced with increased stability because 95% of their account reconciliation happens in 麻豆原创 Account Substantiation and Automation. This approach helps ensure every person involved in financial close and auditing processes feels more engaged and knows what needs to be done next. But more importantly, everyone understands how their role adds value to the business.

Optimize Confidence with Better Control

Based on IDC’s research, the complexities of today’s financial close process are reaching a point where manual work is an impediment. Instead, a cloud environment is needed to support the automation of repetitive, low-value tasks and enterprise-wide data exchange and collaboration.

For that reason, many finance organizations worldwide rely on 麻豆原创 Account Substantiation and Automation by BlackLine. As a result, they can adjust the speed and scale of their financial close processes to meet not only their business needs but also the expectations of industry and regulatory auditors.

Explore the value and benefits your accounting- and finance-related activities can gain from the 麻豆原创 Account Substantiation and Automation application by BlackLine. .

Bil Khan is a senior director of Global Partner Marketing at 麻豆原创.

Last week introduced , an artificial intelligence (AI) model that uses natural language query in the form of conversation to carry out tasks at a level of sophistication that would seem to require the talents of a skilled knowledge worker. AI technology like ChatGPT is showing up in data analysis, research and report writing.

Some knowledge workers may be concerned about being replaced by AI-powered innovations, as Nobel laureate economist Paul Krugman recently wrote in the . For other knowledge workers, however, AI and machine learning tools may be just what they鈥檝e been looking for to keep pace in the age of increased productivity.

麻豆原创鈥檚 Take

鈥淢y prediction is that next year is going to be the year of data-to-decisions,鈥� said Pras Chatterjee, senior director of Product Marketing, Planning and Analysis at 麻豆原创, who presented his business and technology predictions for 2023 on , a program of VoiceAmerica Talk Radio Network.

鈥淥ver the last 10 years, organizations have really been focused on growth, year over year,鈥� Chatterjee explained. 鈥淭hat phase of growth might be over for a little while, but that doesn鈥檛 mean there鈥檚 less of an opportunity for profitability. I think it鈥檚 really a time for finance to take advantage of technology to drive better profitability.鈥�

AI and the Future of Finance

One trend that Chatterjee has been paying attention to is the long lead time in realizing the promise of emerging technologies like AI and machine learning. This weekend that promise became much more tangible to him as he played around with ChatGPT, OpenAI鈥檚 new innovation tool. He and his daughter experimented with the technology by asking ChatGPT questions and gauging the intelligence of the AI-generated responses.

As a Chartered Professional Accountant (CPA) with experience advising Fortune 500 organizations in bringing new technology solutions to finance teams, Chatterjee began to see the immediate value of AI innovations. 鈥淚 thought to myself, if I鈥檓 asking questions and getting answers 鈥� and my daughter is asking questions and getting her homework done 鈥� what does that mean for finance departments and people looking to do analytics in organizations?鈥�

The advancement in natural language query demonstrated by tools like ChatGPT opens new possibilities for better insights into organizational data, which can have profound effects on decision-making.

鈥淚t gives you insights-to-action, so you can take action immediately,鈥� Chatterjee observed. 鈥淭he stage is set effectively that you have access to all your data. If you start adopting modern analytics solutions on top of your data, you can ask questions in the context of the way your business performs; namely, what are my opportunities? What are my challenges? Where am I struggling? Where can I do better effectively? I think this gives you a handle on having much greater profitability, but also an advantage over your competitors and ultimately delivering better best-in-class shareholder values.鈥�

So, can AI drive shareholder value in a downbeat year?

Chatterjee predicts that while it may not be a good year in terms of economic growth, finance departments will lead best-in-class organizations across the globe to adopt technology which will have significant benefits. 鈥淭hey鈥檒l be able to ask the right questions, adopting AI and machine learning, because it is here now,鈥� he said.

Chatterjee believes the technology has finally arrived. 鈥淭he time for AI and machine learning isn鈥檛 three years from now. It鈥檚 at our fingertips, as this weekend showed with one million users trying [ChatGPT] in the first couple of days.鈥�

That鈥檚 exceptional growth for any disruptive technology, noted Chatterjee, who suggested that understaffed finance departments awash in data could reap value from the help of AI-powered digital assistants. 鈥淚 think AI and machine learning is going to drive a ton of profitability and growth in finance organizations 鈥� and ultimately lead to more shareholder value for all of us.鈥�

Contact:
Ilaina Jonas, Senior Director of Global Public Relations, 麻豆原创
+1 (646) 923-2834, ilaina.jonas@sap.com

Essential to any business success is having the right data to make rapid and precise decisions in this quickly changing environment. But there are challenges:

• New business environment are increasing the complexity of financial management, creating the need for more extensive and precise data.
• Finance professionals need transparent access to data and key performance indicators (KPIs) and often require real-time analyses and recommendations in order to take appropriate action.
• Most companies do not have the detailed information required for individualization because the manual workloads and costs necessary to obtain and process it are prohibitively high.
• Because companies cannot consider a product鈥檚 entire lifetime in forecasting revenues and margins, they struggle to design the best combinations of product and service offerings and to set optimal prices.
• Traditional financial indicators are no longer the only decisive factors in measuring a company’s success at creating value. Non-financial dimensions, such as environmental, social, and governance (ESG) factors, are gaining importance due to regulatory and legislative developments and new societal demands. Today, most companies are not able to correlate non-financial information with financial information. Companies are struggling to make data-based tradeoff decisions, such as the effect of specific emission reduction goals on the profitability of different products.

To address these challenges, we joined forces with partner Boston Consulting Group (BCG) and combined 麻豆原创 solutions and our strength as the leading enterprise software company with BCG鈥檚 deep industry and functional expertise.

Together with BCG colleagues Marc Rodt, partner and director of the Center for CFO Excellence, and Patrick Weber, project leader, we came to the realization that by applying the known concept of digital twins to the finance world, we can make significant strides forward in helping to solve these challenges.

Introducing 鈥淒igital Financial Twin鈥� for Informed Decision-Making

The collaboration explored the concept of digital financial twin, defined as a digital representation of financial and selected non-financial metrics, including those measuring relationships, structures, and processes across the entire product lifetime and value chain. This twin precisely allocates metrics to products, services, suppliers, customers, and employees.

A digital financial twin addresses the challenges mentioned above by precisely allocating financial and non-financial information to products, sections of the value chain, or organizational units. This allocation is made possible first by the expansion of classification attributes for data and second by the availability of modern in-memory databases that can aggregate data in real time.

In the automotive industry for example, an individual car would have a digital financial twin 听represented by using the vehicle identification number (VIN) as attribute and carrying all financial and non-financial data regarding this car for its entire lifetime, from its development to its end of life.

A digital financial twin could provide four key benefits:

• Detailed control information down to the individual product level
• Transparency into value contributions over the entire product or customer lifetime
• Integration of non-financial information with traditional financial metrics
• Information availability in (near) real time

How to Implement a Digital Financial Twin

The first requirement for implementing a digital financial twin is having a next-generation enterprise resource planning (ERP) system and data layer based on modern cloud-based architecture. Many companies may need to upgrade or replace their legacy ERP systems to better integrate automation and human decision-making into their finance functions. Companies can transition to this landscape by building a data and digital platform that decouples the data layer from the next-generation ERP and any existing legacy systems.

But implementing a digital financial twin is not just a technology change. It will require non-technical changes that allows the company to apply the capabilities, adjustment to accounting standards and processes, as well as downstream consolidation and reporting processes, shifting from IT to finance when it comes to controlling the data, letting go of legacy systems, and making the commitment to transform.

Building the Foundation with 麻豆原创 Solutions

As a market leader in enterprise application software, 麻豆原创 helps companies of all sizes and in all industries. 麻豆原创 S/4HANA Cloud provides an integrated, intelligent ERP solution that runs on the in-memory database 麻豆原创 HANA and can serve as the foundation to the digital financial twin. For organizations on legacy systems daunted by the requirements of such a twin, we offer RISE with 麻豆原创, a comprehensive solution with 麻豆原创 S/4HANA Cloud, coupled with 麻豆原创 Business Technology Platform, analytics, and business process intelligence with 麻豆原创 Signavio and 麻豆原创 Business Process Intelligence, along with guided journeys and outcome-driven services from 麻豆原创 and partners.

Stefan Paetzold is chief business enterprise consultant at 麻豆原创.
Bernd Weissenmayer is principal business enterprise consultant at 麻豆原创.

The forum brings together the best minds in the finance, banking, and insurance worlds. In a single location, you can discuss the latest industry changes with thought leaders and influencers. You’ll be able to combine the best of European history and culture with an amazing lineup of sessions that embrace the future of financial services. You’ll participate in essential learning experiences covering the digital transformation that is impacting industries today. You’ll also stay on top of the latest trends and topics in banking, finance, and insurance, making it easier to navigate the current turbulent economic waters.

But what exactly is available for insurance, banking, and finance executives at our 2022 forum? There will be plenty of opportunities for networking and learning, whether in large sessions or intimate, one-on-one conversations, and eight full- and half-day pre-conference workshops get you started. This is followed by over 30 engaging and future forward-looking sessions. Networking is easy! Find plenty of options to chat during breakfast, lunch, show floor talks, receptions, and similar events.

Beyond the conference itself is the amazing venue we’ve found for this year’s forum, located in beautiful, historic Amsterdam. Held at the听, the 麻豆原创 and 麻豆原创 Fioneer Financial Services Forum will be held July 12-14, 2022. The venue provides a convenient location for international travelers.

During the sessions, you’ll experience topics covering the latest in the industry from thought leaders and market influencers. When you return home, you’ll be able to take advantage of new knowledge and trends to carry your business into future growth. You’ll find a range of outstanding sessions that will make you rethink your business’ tactics and strategies. You’ll be better able to assess where it needs to go in this dynamic digital future. These include:

• “ERGO Mobility Solutions as Insurance-Orchestrator in the Mobility Ecosystem” featuring Karsten Crede of ERGO Mobility Solutions
• “Swiss Mobiliar Insurance鈥檚 Data Driven Journey with MSG Global to Establish an 鈥業nnovation-Platform鈥� for Connected Mobility and Beyond” featuring Dietrich Och of MSG Global Solutions
• “Time to Take Action: How to Implement Successful ESG Solution Architecture While ESG Requirements Are Still Volatile” featuring Andr茅 Landefeld, Florian Barg, and Marcel Wehrmann of Q-Perior
• “Front Running in the Regulated Financial Industry: How Deutsche B枚rse Group Uses 麻豆原创 within Its Cloud Journey to Digitize Its Back-Office Processes and How This Impacts the Company鈥檚 Work Culture” featuring Lars Bolanca of Deutsche B枚rse

This exciting lineup is only a small part of the 麻豆原创 and 麻豆原创 Fioneer Financial Services Forum. Are you ready to keep up with the latest movers and shakers in the finance, insurance, and banking industries?听听for this outstanding international forum. If you’re ready to keep your company at the razor’s edge of digital transformation, it’s time to get started now.

Joe Pacor is senior director of Industries Marketing, Insurance at 麻豆原创.

More than 60 central banks are exploring the possibility of launching central bank digital currencies (CBDCs).

Among them, the U.S. Federal Reserve Board published a discussion paper on the topic 10 days ago and is inviting public comment on how a CBDC 鈥� a digital dollar 鈥� might improve the safety and effectiveness of domestic payments.

麻豆原创’s Take

As the Fed noted in its invitation for comments, a CBDC could provide a safe, digital payment option for households and businesses as the payments system continues to evolve, and may result in faster payment options between countries. But there may also be downsides, including how to ensure a CBDC would preserve monetary and financial stability as well as complement existing means of payment. Other key policy considerations include how to preserve the privacy of citizens and maintain the ability to combat illicit finance. The Fed鈥檚 paper discusses these and other factors in more detail.

Torsten Hoffmann, chief technology innovation officer for 麻豆原创 Banking and an expert on CBDCs, cryptocurrencies and other banking issues, notes that CBDCs are quickly gaining traction across the traditional finance landscape.

Currently, he says, China is actively working on its plan to connect its central bank digital currency to Hong Kong鈥檚 Fast Payment system, and Israel is accelerating its study and preparations for the possibility of a digital shekel.

Indeed Hoffmann believes that the adoption of CBDCs by central banks 鈥渉as the potential to completely alter the banking landscape,鈥� and that it could result in profound changes not only to the commercial banking system, but also to tax and benefits systems.

If the central bank becomes of a full-service bank, he says it could be the first step to a central bank digital wallet. Then central banks could provide money directly to people during a crisis — like COVID-19 — and impose limits on what the funds could be used for and dictate how long the funds would be available.

Similarly, CBDCs could enable central banks to enter the lending business help implement government policy. For example, central banks could help implement a sustainability agenda by only lending to environmentally friendly businesses.

Hoffmann says the full impact of the introduction of CBDCs will depend on the details. But in the meantime, he notes, bankers appear convinced CBDCs are coming. A recent study from banking security specialist OneSpan found that 84% of banking leaders plan to take steps to prepare for CBDCs over the coming year.

Contact:
Joellen Perry, Head of听Global Public Relations, 麻豆原创
+1 (626) 265-0370,听joellen.perry@sap.com, PST

Yet even as the volume of data grows exponentially across the insurance industry, turning that data into actionable insight remains a challenge. And meeting complex local and international regulations that change constantly still requires a lot of time and effort from insurance finance teams, which further reduces agility and timely insight.

Improving Insurance Finance Insight and Process Efficiency

Insurers and their finance teams need specific tools and capabilities to meet today鈥檚 risk and sustainability challenges. They need more powerful simulation tools that can help them optimize revenue and cost management across every line of business, channel, policy, and transaction. Finance teams also need to leverage intelligent automation that reduces the cost and effort to complete financial reporting, auditing, and compliance tasks across asset and investment portfolios.

麻豆原创 for Insurance Solutions Can Help

By bringing together data across your 麻豆原创 and third-party system landscape, the application empowers teams across your insurance organization to make decisions that can improve profitability, reduce costs, and fully align with core sustainability goals. The application鈥檚 scalable, high-speed finance and risk calculation engine combines machine learning with predictive and stochastic financial analysis to deliver powerful simulation capabilities 鈥� enabling your people to get more insight out of the information they already have.

And if you want to bring intelligent automation to your investment practices, subledger accounting, and statutory reporting, the application can deliver value. It works alongside 麻豆原创 S/4HANA as well as the 麻豆原创 ERP application to help take days off closings with automated processes such as calculation of amortization, impairments, and unrealized gains and losses. The application also can streamline compliance reporting with preconfigured content for fast-changing local and international regulations.

Want more information? Download our information sheets:

Anders Widestrand is senior director, FSI ISV Program and Co-Innovation, Financial Services Ecosystem, at 麻豆原创.

Well, those days are long gone, and have been for some time now. There鈥檚 a next generation of banking and financial technology, or FinTech, and it is already upon us.

FinTech involves artificial intelligence (AI), specifically communication AI. Belarusky Narodny Bank (BNB-Bank), a finalist for the 2021 麻豆原创 Innovation Awards, offers up-to-date, efficient, and user-friendly digital banking while also striving for sustainable innovation.

Dimensional AI Chat

BNB-Bank uses , a chatbot-building service, with Skybuffer鈥檚 Hybrid Chat added as an extension. Hybrid Chat has preconfigured banking scenarios that are customizable, extendable, and scalable. In addition to the Hybrid Chat, Skybuffer offers analysis, reporting, and digital core integration.

Together, 麻豆原创 Conversational AI and Skybuffer can boost language processing. The AI is trained in English, but translates into Belarusian and Russian so that the voice-enabled intelligent assistant distinguishes between the two. How cool is that?

Since using 麻豆原创 Conversational AI and Skybuffer, BNB-Bank aligned an 80% automation level in their cognitive channels in the first months of productive use, a 100% increase in lead generation from Web and social media, and over 40 customer requests a day are served from the Web site.

Banking Benefits 鈥� From Toasters to Cash

Banks have always offered incentives to customers. Some of the vintage advertising I鈥檝e seen tells me that U.S. banks used to give away toasters for new bank accounts so frequently that it became an expectation. I got a plastic piggy bank the first time I opened a savings account! These days, there are cash offer incentives. Though it makes sense, money takes away a certain intangible feeling from our banking experiences 鈥� it adds even more meaning to 鈥渃old, hard cash.鈥�

Perhaps the biggest benefit with the chat is the seamless connection to a third person into the dialogue while keeping the chatbot active, making it a three-peer model between the customer, the chatbot, and an agent. The customer can communicate with the chatbot and the agent simultaneously, significantly increasing the quality of care.

Beam Me Up! The FinTech AI Future

Not only can 麻豆原创 Conversational AI automate customer support, but it also can analyze topics of customer requests and channels used for their interests. Are you interested in special discounts at local businesses, investment opportunities, balance transfers and debt consolidation, or a loan? The products and services information will be served automatically.

It seems as if financial tools stay the same for long periods of time, but when they do change, it鈥檚 very large leaps forward into the future. This is just the beginning for AI. I wonder where we鈥檒l land next.

To learn more about Belarusky Narodny Bank鈥檚 solution, view its 麻豆原创 Innovation Awards 2021 .

Rajshree Chauhan is an 麻豆原创 Global Marketing contributor.

The launch follows the announcement to establish the company made in April of this year by 麻豆原创 and Dediq, an entrepreneurial investor focused on information technology and digital businesses. 麻豆原创 Fioneer expands the financial service software offered by 麻豆原创. It also develops new solutions to serve its customers in the rapidly changing banking and insurance industries.

Today鈥檚 go-live of 麻豆原创 Fioneer marks another important milestone in 麻豆原创鈥檚 long history of success in the FSI market. More than 800 of the world鈥檚 top 1,000 banks and insurance companies are 麻豆原创 customers. 麻豆原创 Fioneer focuses fully on accelerated innovation in the area of core banking, core insurance and FSI-specific finance solutions and is mandated to extend the 麻豆原创 for Banking and 麻豆原创 for Insurance solution portfolios to cover banking and insurance processes holistically.

鈥淎s in any other industry, companies in financial services need to transform their business to stay ahead of the competition,鈥� said Christian Klein, CEO and Member of the Executive Board, 麻豆原创 SE. 鈥溌槎乖� Fioneer will help them meet their needs for speed, scalability and cost-efficiency through digital business innovation, cloud technology and solutions that cover banking and insurance processes end to end. 麻豆原创 has a long and successful track record in the financial services industry, and I am convinced that 麻豆原创 Fioneer will become a leading global provider of financial services software solutions and platforms.鈥�

麻豆原创 Fioneer enables customers to innovate and transform their business by combining premier technology with development expertise and a global network of customers, partners and colleagues. 麻豆原创 Fioneer will have operations in more than 10 countries in Europe, North and Latin America and the Asia-Pacific region by the end of 2021. 麻豆原创 will continue to sell and support 麻豆原创 solutions for enterprise information management and line-of-business solutions to FSI companies, and 麻豆原创 customers will remain 麻豆原创 customers.

鈥淥ur customers can expect the same high-quality engagement they are used to, but now also benefit from new capabilities. Solutions of 麻豆原创 Fioneer will be based on integrated data and allow customers to move FSI processes to 麻豆原创 Business Technology Platform in the cloud,鈥� said Dirk Kruse, CEO, 麻豆原创 Fioneer. 鈥淲e are excited to accelerate the business transformations of our customers with innovative solutions that will be built as part of 麻豆原创鈥檚 industry cloud solutions, all based on 麻豆原创 technologies and applications.鈥�

Visit the . Follow 麻豆原创 on Twitter at .

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Many players in the financial sector are still far from moving to the cloud. As one of the first companies, Deutsche Boerse is deploying this technology by running a multi-cloud strategy and migrating core business processes to the cloud, encouraging innovation and agility.

鈥淲hen moving to the cloud, we need IT solutions that give us full control as well as ensure data sovereignty and the protection of sensitive financial data, which is a top priority,鈥� says Dr. Christoph Boehm, CIO, COO, and member of the Executive Board of Deutsche Boerse Group, about the central challenge.

Without this, the company would not be able to meet the strict regulatory requirements and respond to market changes flexibly. The cloud technology delivers decisive advantages for Deutsche Boerse.

鈥淭ime to market and scalability are crucial factors for financial service providers 鈥� and the cloud is the best way to ensure that they鈥檙e provided,鈥� says Luka Mucic, chief financial officer and member of the Executive Board of 麻豆原创 SE. 鈥淚t represents the heart of intelligent technological innovations.鈥�

The sheer size of the computing and storage capacities combined with the tremendous reliability and agility support moving to the cloud.

Financial Service Providers Aim for the Cloud

As such, it is understandable that enthusiasm for the cloud is growing in the banking sector, as evidenced in a . According to the study, 78% of German banks are already using cloud services, 25% more than in 2018. And around half of the banks that are not using cloud services now plan to do so in the foreseeable future.

This comes as no surprise to Karsten Wilop, PwC expert: 鈥淐loud technologies are an essential prerequisite to driving and successfully shaping digital transformation.鈥�

Although hyperscalers like Google Cloud, AWS, Azure, and others are considered important pioneers of innovation in the financial services area, banks are still very apprehensive. Right now, financial service providers primarily use cloud computing environments to process non-critical data only. According to the PwC study, this is due to high demands for security (82%), fear of compliance violations (53%), and unclear regulatory requirements (49%).

With its intelligent enterprise strategy, 麻豆原创 is paving the way to the cloud 鈥� and thus to innovation 鈥� for financial service providers. Together with Deutsche Boerse, 麻豆原创 has developed a framework for compliant use of the cloud in the tightly regulated financials domain. It is based on 麻豆原创 Data Custodian and works to simplify the hosting of sensitive data and 麻豆原创 workloads in the Google cloud, aiming to help financial service providers drive innovation forward more quickly.

鈥淭his solution lays the foundation for efficient risk management in the cloud 鈥� without sacrificing speed or scalability,鈥� says Boehm.

The 麻豆原创 Data Custodian solution lets banks decide for themselves which data center they want to use to store and process their data. The application also gives users detailed reports on accessibility and movement of data. Proactive warnings help identify potential security breaches and policy violations quickly, while innovative encryption concepts guarantee maximum data protection.

鈥溌槎乖� Data Custodian ensures that the cryptographic keys are known only to the financial services provider. The respective hyperscaler has no access to them,鈥� emphasizes Mucic.

麻豆原创 Data Custodian Supports Higher Security During Cloud Migration

Specifically, this means financial service providers can not only have full information as to where their data is stored in the globally connected cloud and who accesses it; they can also benefit from reliable policies for storage management as well as flexible access. As such, the blueprint represents an ideal starting point for the financial sector to move to the cloud. Many companies want to migrate to the cloud or use cloud solutions from 麻豆原创 but still have concerns about data protection and compliance.

鈥溌槎乖� Data Custodian gives these companies in particular a level of security that was previously only available in on-premise environments. Our proof of concept with Deutsche Boerse shows that cloud applications can meet even the high compliance requirements of the financial industry,鈥� Mucic says about the value added by this high-performance solution. It can lay the foundation for reliable data security in cloud scenarios and is available for all hyperscalers.

In the medium term, 麻豆原创 Data Custodian aims to become the central solution for access transparency and control for cloud solutions in the financial sector — and other industries too.

To find out more about the new, secure hosting of sensitive financial data and 麻豆原创 workloads in the public cloud, watch a replay of the 麻豆原创PHIRE NOW session: . In this joint session, Boehm and Mucic present the proof of concept in detail and encourage other companies acting in regulated industries that aspire to migrate to the cloud.

The collaboration will be designed to help the companies address the industry鈥檚 stringent compliance, security and resiliency requirements, while supporting business transformation and innovation for financial services institutions.

As banks and insurers balance the need to deliver innovative services and meeting the industry鈥檚 strict security and compliance requirements, . To fuel industry-wide innovation, IBM introduced the IBM Cloud for Financial Services with built-in security and compliance controls that help reduce risk and regulatory barriers impeding IT landscape modernization, transformation and innovation.

IBM Cloud for Financial Services offers a highly secured, purpose-built environment for financial services institutions to transact with their technology partners and FinTechs. By onboarding to the IBM Cloud for Financial Services, clients can adopt migrated 麻豆原创 offerings, while addressing their regulatory and compliance standards. Supported by a growing ecosystem of more than 100 partners and FinTechs, the cloud platform is designed to speed customers鈥� business transformations by both addressing risk in the supply chain for financial institutions and unlocking new revenue opportunities.

In the context of their ongoing global strategic partnership, IBM and 麻豆原创 have helped hundreds of companies digitalize their operations using an open, hybrid cloud approach. 麻豆原创 intends to join IBM鈥檚 ecosystem to deliver finance risk, operations and total spend management offerings on the IBM Cloud for Financial Services. The companies intend to help financial institutions benefit from faster business transformation through industry-specific data value offerings and enhanced customer and employee experiences.

鈥淭he rapid transition of regulated industries, such as financial services, toward the cloud makes it necessary to address new operational and technology challenges,鈥� said Bob Cummings, head of 麻豆原创 Financial Services Sector. 鈥淭he combination of IBM Cloud and 麻豆原创鈥檚 capabilities can help banks and insurers around the world to accelerate their digitalization journey and scale their business globally.鈥�

鈥淎s we continue to add partners, such as 麻豆原创, to our growing ecosystem, we鈥檙e one step closer to driving a true change in cloud adoption for the industry to ultimately help reduce risk throughout the supply chain,鈥� said Joel Spieth, General Manager, IBM Cloud for Industries. 鈥淲e鈥檙e helping financial institutions modernize with 麻豆原创 solutions on IBM Cloud for Financial Services, driving innovation, and creating operational efficiencies.鈥�

When onboarded, 麻豆原创鈥檚 offerings that can now be delivered on the IBM Cloud for Financial Services will provide financial services institutions, their partners and FinTechs with the following:

• 麻豆原创鈥檚 intelligent suite, including 麻豆原创 S/4HANA solutions: With its intelligent enterprise framework, 麻豆原创 provides integrated applications, intelligent technologies and a digital platform designed to enable banks to better serve current customers.
• 麻豆原创鈥檚 solutions for strategic data management, including 麻豆原创 Adaptive Server Enterprise, and 麻豆原创 IQ software: Combining the strength of in-memory technology with these solutions, 麻豆原创 offers a robust data platform to achieve business agility.

麻豆原创 and IBM together have hundreds of clients and more than 5,500 individual products. 麻豆原创 and IBM are focused on helping enterprises modernize their businesses and making the most of cutting-edge technologies.

For more information on IBM Cloud for Financial Services, visit .

Visit the 麻豆原创 News Center. Follow 麻豆原创 on Twitter at .

About 麻豆原创

麻豆原创鈥檚 strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77% of the world鈥檚 transaction revenue touches an 麻豆原创 system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers鈥� businesses into intelligent enterprises. 麻豆原创 helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want 鈥� without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 麻豆原创 helps the world run better and improve people鈥檚 lives. For more information, visit

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Statements regarding IBM鈥檚 future direction and intent are subject to change or withdraw without notice and represent goals and objectives only.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 麻豆原创 are intended to identify such forward-looking statements. 麻豆原创 undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect 麻豆原创’s future financial results are discussed more fully in 麻豆原创’s filings with the U.S. Securities and Exchange Commission (“SEC”), including 麻豆原创’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
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Although we鈥檙e far from any kind of standardized digital coin of the global realm, public and private sector organizations are examining the major challenges and closing in on potential opportunities, particularly for B2B transactions across complex supply chains. The appeal to governments and business is strong.听

鈥淭here鈥檚 a global movement among governments, social media platforms, and central banks to develop digital currencies,鈥� said Peter-Antonius Bramm, global head of Central Banks at 麻豆原创. 鈥淧rivate companies see this as a race, whereas central banks and public sector agencies approach this more collaboratively. Each participant has unique objectives, factoring in geopolitical issues, customer monetization objectives, and industry-specific exigencies.鈥�

Programmable Money Promises a Frictionless Payment Future

In one scenario, central banks can program digital currency with logic so it can be spent only for a designated purpose. For large companies at the helm of complex supply chains, programmable currency promises the instantaneous delivery of payment upon product receipt. This has tremendous potential for greater business efficiencies, including dramatic reductions in time frames.

鈥淧rogrammable money relies on the Internet, making it much easier and accessible to use across previously siloed systems,鈥� said Bramm. 鈥淚nstead of navigating fragmented organizational and payment provider sites, digital currency would allow frictionless payments at the precise moment goods were received through machine-to-machine payment.鈥�

Machine-to-Machine Payments Revolutionize Business

Naturally, programmable currency will also transform financial applications software including , not to mention and payroll. It鈥檚 not just about new efficiencies from merging information directly with processes and payment; machine-to-machine payments herald entirely new business models.

鈥淲hen a drone or self-driving electric vehicle delivers packages ordered online, programmable currency could not only immediately transfer payment in real time when the goods are delivered, but also send digital funds to recharge that vehicle for the next delivery,鈥� said Alessandro Gasch, senior product specialist at 麻豆原创 Innovation Center Potsdam. 鈥淭he machine-to-machine economy will fundamentally change how business gets done.鈥�

Central Banks Look to the Next Digital Horizon

Spurred in part by growing competitive threats from sovereign nations intent on global growth, as well as big tech platforms looking to monetize enviable user bases, central banks see programmable money as a viable option.

鈥淲hat if you could sell a Eurobond outside the EU jurisdiction and receive Euros in digital currency, which represents real central bank money, constituting a claim against the central bank in the same way as cash?鈥� asked Bramm. 鈥淭his is one way to simplify correspondent banking and provide the seller with a 鈥榬isk free鈥� position in central bank money.鈥�

Greater Liquidity for Company Operations

Programmable digital currency could forever alter the role of central banks, providing funds for large companies involved in B2B transactions. Instead of opening a line of credit, companies could use an infusion of digital currency from central banks to increase liquidity, freeing up more working capital to optimize operations.

鈥淚f an organization held the money like cash 鈥� even if it鈥檚 digital, but it鈥檚 millions 鈥� they could directly lend funds to supply chain suppliers based on pending and expected orders,鈥� said Bramm. 鈥淔or trusted suppliers, this would keep business moving, especially in times of uncertainty like the post-pandemic world.鈥�

Reserve auctions are another potential use case for programmable currency. Rather than bringing a certified bank check to an auction for a big ticket item like a piece of property, a company or individual could use programmable money 鈥� from any number of separate accounts 鈥� that鈥檚 earmarked for the sale and only released from each account via a smart contract when the bidder wins the sale. Once complete, the transaction would automatically be recorded on a blockchain-based distributed ledger connected with the government land registry.

Trusted Digital Payments

Programmable money is very much so a work in progress. One major ongoing challenge, especially with cross-border payments, is the prevention of money laundering, fraud, and terrorist financing. Central bank digital currency (CBDC) can be programmed with anti-money laundering logic to reduce and mitigate fraud.

鈥淲hether the digital currency is private or CBDC, it has to have the same price stability and level of trust,鈥� said Bramm. 鈥淭rusting an organization like a central bank also means trusting that country鈥檚 economy.鈥�

Bramm expects further decisions from central banks throughout the year. appears to be among the front-runners, likely followed by central banks in Asia, Europe, and Canada. Recently, the U.S. Office of the Comptroller of the Currency (OCC) gave the green light to national banks and federal savings associations to hold . Significant progress will depend on evolving regulations, as well as proven technology scalability. For businesses and consumers, what won鈥檛 change is the equation between trust and money, whether it鈥檚 digitally programmed or not.

.

The leadership team includes Dirk Kruse, CEO; Marc Daniel Schwarz, Head of Market Region MEE; Reto Sager, Head of Services; Marc Derungs, Head of Product Development; and Patrick Schmid, Head of Transformation. Further management positions will be announced at a later stage.

Pending antitrust approval, 麻豆原创 Fioneer is expected to be operational in the second half of 2021.

Visit the . Follow 麻豆原创 on Twitter at .

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Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 麻豆原创 are intended to identify such forward-looking statements. 麻豆原创 undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect 麻豆原创’s future financial results are discussed more fully in 麻豆原创’s filings with the U.S. Securities and Exchange Commission (“SEC”), including 麻豆原创’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
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For Northern Trust, the answer to this question is a resounding 鈥測es,鈥� thanks in part to the strong relationship the company has built with 麻豆原创 to deliver innovative,听scalable systems and business-driven content and services.

Northern Trust: Market-Leading Approach to Financial Asset Solutions for Insurance Companies

Named the 鈥淏est Custodian鈥� by Private Equity Wire in 2020, Northern Trust serves more than 180 insurance clients worldwide with more than US$1 trillion in assets. The company has been providing financial management solutions to insurance companies for more than 90 years.

Seven years ago, Northern Trust identified the need for an outsourced investment accounting solution in the marketplace that was robust, scalable, and flexible. In the current low interest environment, insurance companies have had to be creative in how they trade and what they trade. Real-time insight across the entire portfolio is critical to business success. Yet Northern Trust鈥檚 clients were struggling to have all their assets on a single platform and instead relied on a patchwork of disparate solutions. Others were going through the process of bringing their derivatives in to see a consolidated view of their true holdings and were struggling to understand their accounting.

Northern Trust sought a cloud-based, agnostic platform that would allow clients to customize their ledgers, support every type of trading option, allow management of all asset classes from privates to derivatives, and accurately represent their position. The right digital solution would need to solve the challenges caused by extracting accounting data, working with data across the globe, and integrating multiple data platforms 鈥� all while providing data in real-time.

麻豆原创 Financial Asset Management works to meet these needs and more, providing a one-of-a-kind investment accounting and analytics services application that marries technology and service. Northern Trust considers the application to be the ironclad calculation engine for everything that happens for its clients鈥� portfolios. By adding the cloud-based engine for investment accounting and analytics, this gives Northern Trust鈥檚 clients the ability to truly 鈥渋nterrogate their data鈥� rather than cobbling together Excel files and PDF files.

麻豆原创 and Northern Trust: Innovation for Insurance Accounting and Analytics

Northern Trust started as an 麻豆原创 customer, operating 麻豆原创 Financial Asset Management for more than five years before expanding the relationship to help innovate its current business model. Together, the companies work to provide both the market-leading investment accounting platform and robust services. 麻豆原创 provides the sustainable, scalable application; Northern Trust’s Investment Accounting & Analytics Service operates on top of 麻豆原创 Financial Asset Management, providing functional, business-driven content and services to joint customers. It鈥檚 a unique relationship that enables exceptional solutions and services to benefit customers that otherwise would not be possible.

Working together, 麻豆原创 and Northern Trust offer numerous advantages to insurers, including helping to ensure compliance with statuary reporting for all 50 states and accounting for several bases in parallel, such as US-GAAP and IFRS. The two companies also work to unburden insurers from having to maintain institutional investment management expertise in-house. With Northern Trust’s leadership, insurers can be confident they’re current on rapidly evolving best practices.

Podcast: Learn What鈥檚 Next from the Experts

By 2025, many insurers will be engaging with cross-industry ecosystem providers and defining opportunities beyond managing risk. Solutions like 麻豆原创 and Northern Trust鈥檚 platform and services are essential to help insurers with automation and real-time data insights to embrace the future.

Toni Tomic is global head of Insurance at 麻豆原创.

To better serve the rapidly changing banking and insurance industry, the two companies will jointly expand 麻豆原创鈥檚 financial services portfolio with a significant investment in new solutions. These solutions will be based on 麻豆原创 software and be integrated into 麻豆原创鈥檚 overall portfolio and product roadmap.

Pending regulatory approval, 麻豆原创 and Dediq will form a dedicated Financial Services Industry (FSI) Unit, which will be jointly owned by the two companies. Both 麻豆原创 and Dediq will provide the FSI Unit with the funding, technology, and development expertise, as well as a broad ecosystem of partners necessary to rapidly establish it as a major force in the FSI IT market. Dediq鈥檚 investment in the unit will be more than 500 million Euro.

鈥淭hrough partnering with Dediq, we will significantly increase our support for the digital transformation of customers in the Financial Services Industry and deliver innovative cloud solutions at an accelerated pace that help them transform their business holistically,鈥� said Christian Klein, CEO, 麻豆原创听SE. 鈥淔inancial services is a key industry for 麻豆原创, and today we not only reiterate but also reinforce our commitment to this market.鈥�

麻豆原创 has a long history of success in the FSI market. More than 80% of the top 1,000 banks and insurers are 麻豆原创 customers. The new FSI Unit will fully focus on accelerated innovation in the area of core banking, core insurance and FSI-specific finance solutions to meet the needs for digital innovation and cost efficiency of financial services customers.

鈥淭he FSI market offers a huge opportunity for us,鈥� said Luka Mucic, Member of the Executive Board, 麻豆原创 SE. 鈥淭o unleash this potential, we will use our unique capability to provide enterprise-grade solutions. Jointly, we will extend our existing FSI portfolio to cover banking and insurance processes end to end. Helping our customers to become more agile through digital business innovation and cloud technology will be front and center for our new FSI Unit. The new unit will be very flexible and customer-centric with full autonomy to set its strategic direction. At the same time, it will be a strong member of the 麻豆原创 family. Customers will benefit from 麻豆原创鈥檚 leading technology and the FSI Unit鈥檚 agility and focus on their specific needs.鈥�

As part of its industry cloud portfolio strategy to thoroughly serve its 25 industries with tailored solutions, 麻豆原创 has forged a number of partnerships. This latest one with Dediq marks a further milestone in the implementation of this strategy. 麻豆原创 customers can expect the same high-quality engagement, with new capabilities now made possible by the new FSI Unit. The new solutions will cover the full cycle of banking and insurance operations processes, and help meet regulatory requirements. They will be based on integrated data and provide an opportunity to move FSI processes to the 麻豆原创 Business Technology Platform in the cloud. For example, lending solutions for banks will cover all stages from origination and credit risk assessment to re-financing and bank management, with all related data kept in one place. This will significantly reduce IT cost and complexity.

鈥淲e strongly believe in the strategy of the new FSI Unit,鈥� said Matthias Tomann, Managing Partner, Dediq. 鈥淲e see the future of FSI software solutions in the cloud. 麻豆原创鈥檚 platform has unrivalled potential when it comes to supporting the core operations of large-scale businesses like banks and insurers as well as new emerging ecosystems. Making this vision a reality in financial services is highly exciting to us.鈥�

麻豆原创 will continue to sell and support 麻豆原创 solutions for enterprise information management and line-of-business solutions and 麻豆原创 customers will remain 麻豆原创 customers. The new FSI Unit will focus its investment on core FSI areas such as commercial lending, retail banking, core insurance as well as insurance finance and bank management. The new solutions will be built as part of 麻豆原创鈥檚 industry cloud solutions, based on 麻豆原创 technologies and applications such as 麻豆原创 HANA, 麻豆原创 S/4HANA, 麻豆原创 Business Technology Platform and others.

鈥淭oday鈥檚 financial services industry is challenged to balance agility and innovation with risk, resiliency and scale. With this announcement, 麻豆原创 is responding to the needs of its clients to improve speed of innovation while continuing to provide enterprise-class and mission-critical products and services to the industry,鈥� said Jerry Silva, vice president of IDC Financial Insights.

Pending antitrust approval, the new FSI Unit is expected to be in place in the second half of 2021. Corresponding preparations are scheduled to start in the coming weeks.

Read statements from partners and customers here.

Visit the 麻豆原创 News Center. Follow 麻豆原创 on Twitter at .

About Dediq

Dediq is an entrepreneurial investor focused on information technology and digital businesses. Dediq is working together with its portfolio companies to create exceptional products and services. Each Dediq investment is set up separately, independently and with an unlimited time horizon. Dediq is based in Munich. For more information, visit .

About 麻豆原创

麻豆原创鈥檚 strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77% of the world鈥檚 transaction revenue touches an 麻豆原创 system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers鈥� businesses into intelligent enterprises. 麻豆原创 helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want 鈥� without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 麻豆原创 helps the world run better and improve people鈥檚 lives. For more information, visit .

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Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 麻豆原创 are intended to identify such forward-looking statements. 麻豆原创 undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect 麻豆原创’s future financial results are discussed more fully in 麻豆原创’s filings with the U.S. Securities and Exchange Commission (“SEC”), including 麻豆原创’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
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Read what customers and early-adopter partners have to say.

Customer: Berlin Hyp

鈥淔or Berlin Hyp, 麻豆原创 is a trusted and strategic partner and one of the key elements of our future IT landscape. We are very excited about 麻豆原创鈥檚 FSI Unit and the corresponding approach of leveraging 麻豆原创`s FSI portfolio as we collaborate to develop credit workplace solutions and more. Through our alignment with 麻豆原创 and 麻豆原创鈥檚 FSI Unit, we will identify additional innovations and drive co-developments in the future.鈥�

鈥� Sascha Klaus, CEO, Berlin Hyp AG

Customer: AOK Systems GmbH

鈥淥ur partnership with 麻豆原创 has existed for more than 20 years and is absolutely unique to the market. We therefore welcome the 麻豆原创 FSI Unit which will generate high future-proof benefits and numerous advantages for the insurance market and thus represent a further milestone in our unique partnership. With consumer demand for eHealth services and our ability to provide these services through cloud-based, next generation platforms, we look forward to co-innovating together.鈥�

鈥� Holger Witzemann, Managing Director, AOK Systems GmbH

Customer: Discovery Health

鈥淲e are excited and supportive of the 麻豆原创 FSI Strategy. We believe that this focused approach will deliver best-in-class products and services to customers and will enable agility and simplicity. This bold move will offer an opportunity to customers like us to co-Innovate faster and fully realize the immense potential that technology can offer.鈥�

鈥� Maia Surmava, CIO, Discovery Health

Customer: Vast Bank

鈥淭hanks to 麻豆原创, we were able to begin our transformation journey with customer preferences in mind. Their platforms give us the confidence and capabilities to better serve our customers today and into the future. In this fast-changing environment, banks need more than strong and reliable technology. Partners should offer flexible engagement models to enable co-innovation and agile execution. It is great to see that 麻豆原创鈥檚 FSI Unit will focus on what matters most to us 鈥� critical, industry-specific solutions we need to run our business and to stay relevant. Vast Bank is looking forward to collaborating closely with 麻豆原创鈥檚 FSI Unit to drive 麻豆原创 industry solutions into the US market.鈥�

鈥� Brad Scrivner, President and CEO, Vast Bank

Partner: Google

“We are excited to partner with 麻豆原创鈥檚 FSI Unit to deliver AI and ML-based innovations for financial services customers. Google Cloud and 麻豆原创 have a deep partnership to help financial services businesses digitally transform, including delivering capabilities to scale-out 麻豆原创 S/4HANA for Financial Products Subledger on Google Cloud. Our collaboration with 麻豆原创鈥檚 FSI Unit will expand on this partnership, ultimately helping us deliver technology and value to banks, insurance providers, fintechs and more, at global scale.”

鈥� Rob Enslin, President at Google Cloud, Google

Partner: .msg

鈥淏y founding the 麻豆原创 FSI Unit, 麻豆原创 is focusing very clearly on groundbreaking industry-oriented cloud solutions for insurance and banking. msg is fully committed to accelerating digitization in the market. Continuing our 23-year partnership with 麻豆原创, we deliver digital transformation through our comprehensive industry expertise, our market-leading msg solution extensions and our strategic development programs. Together with 麻豆原创鈥檚 FSI Unit, we can significantly broaden the global footprint and enrich the solutions with future-oriented innovations. In our role as THE leading 麻豆原创 for Insurance Partner, we will continue to fulfill our responsibility to the market in order to achieve the greatest possible customer success with the best end-to-end offer for insurance companies on their way to digital transformation.鈥�

鈥� Dr. Juergen Zehetmaier, Member of the Executive Board, .msg

Partner: Microsoft

鈥淢icrosoft is invested in speeding our customers鈥� time to value through industry-tailored solutions, including , and our strong ecosystem of partners. Building on our with 麻豆原创, 麻豆原创鈥檚 FSI Unit and its cloud-based capabilities will offer exciting opportunities to accelerate co-innovation for our joint financial services customers, including end-to-end processes for lending (workplace) solutions, core banking solutions, and for banking and insurance products and cloud services. Together with 麻豆原创’s FSI Unit, we look forward to delivering the capabilities and trusted platform financial institutions need to rapidly respond and adapt to changing market conditions and ultimately succeed.鈥�

鈥� Bill Borden, Corporate Vice President, Worldwide Financial Services, Microsoft

Partner: EY

鈥淭o meet new and rapidly evolving customer expectations, banks, insurance carriers and other financial services industry participants are accelerating the pace of digital transformation. EY believes that advanced banking, capital markets and insurance technology solutions can provide better, more personalized and compelling customer experiences, while unlocking the ability to launch entirely new business models that meet the rapid pace of industry convergence.

EY is a market leader in transformational solutions and services to the financial services industry.听 Over the past 18 months, EY and 麻豆原创 have made great strides in providing industry-specific solutions to combined 麻豆原创-EY financial services clients through the board-level Accelerate Program.听 Building on this success, EY has become part of 麻豆原创鈥檚 Industry Cloud for financial services program.听 We believe the creation of 麻豆原创鈥檚 FSI Unit will offer even greater potential to advance industry-specific innovations and deliver next-generation outcomes for EY clients in banking, capital markets and insurance.鈥�

鈥� Greg Sarafin, Principal, Global Alliance and Ecosystem Leader, EY

Visit the 麻豆原创 News Center. Follow 麻豆原创 on Twitter at .

About 麻豆原创

麻豆原创鈥檚 strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77% of the world鈥檚 transaction revenue touches an 麻豆原创 system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers鈥� businesses into intelligent enterprises. 麻豆原创 helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want 鈥� without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 麻豆原创 helps the world run better and improve people鈥檚 lives. For more information, visit

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Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 麻豆原创 are intended to identify such forward-looking statements. 麻豆原创 undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect 麻豆原创’s future financial results are discussed more fully in 麻豆原创’s filings with the U.S. Securities and Exchange Commission (“SEC”), including 麻豆原创’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
漏 2021 麻豆原创 SE. All rights reserved.
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While lowering operating expenses is important, it is just one part of achieving holistic operational excellence. Insurers are also facing pressure from new government regulations designed to increase reporting transparency. These new reporting standards must be met quickly without compromising other innovation initiatives. Recent global economic uncertainty has further underscored the need for swift operational transformation and the creation of an intelligent enterprise 鈥� time is of the essence.

Unlocking Productivity and Accelerating Innovation

True change occurs when insurance companies become partners in their customers鈥� lives. To achieve this, insurers must reimagine operational excellence with new business models that not only lower costs but accelerate innovation cycles and unlock productivity. These include automated, streamlined, and integrated processes that employees can access from anywhere.

Benefits of Operational Excellence Solutions

The right operational excellence solutions will help your organization sell the right insurance products faster to the right customers while providing a consistent, loyalty-building service experience in a multichannel environment. Key benefits of installing operational excellence solutions include:

• Serving customers better by anticipating needs and delivering the right service at the right moment
• Unlocking business value from the explosion of data available through advanced digital technology
• Streamlining processes, including quoting, offering, and application management

How the 麻豆原创 Cloud for Insurance Solution Will Transform Your Operations

麻豆原创 Cloud for Insurance helps organizations reimagine key areas of their business to achieve a higher level of operational efficiency. Leaders are empowered to deploy digital processes that improve both the employee and customer experiences. 麻豆原创’s industry cloud makes it easier to deploy specialized applications that address specific insurance industry needs.

With end-to-end solutions, your organization can choose to flexibly purchase and deploy different solutions as needed. No matter which you choose, all your solutions will fully integrate. These solutions also can harness the power of next-generation technologies, like machine learning, robotic process automation (RBA), and insurtech integration.

Operational excellence solutions from 麻豆原创 can help your organization:

• Accelerate quoting, offering, and application management while driving efficient underwriting.
• Streamline the development of products and policies by capturing and analyzing experience and operational data for real-time insights and actively designing experiences that customers desire.
• Optimize the claims lifecycle by capturing claim data through subrogation and recovery, managing disbursements, automatically detecting fraud, and continuously evaluating claims performance.
• Manage the reinsurance lifecycle with a full view of operations and customers, which can help accelerate period close cycles by up to 300% and improve data quality.
• Quickly process billing and payments by increasing the efficiency and accuracy of billing and settlement processes using a single, integrated, and automated operational subledger.

Reimagine what鈥檚 possible for your insurance organization. Download the solution brief 鈥�.鈥�

The rankings categorize and evaluate leading fintech companies, vendors and solution providers and are based on data gathered from surveys of practitioners, end users and subject matter experts. The report uses original research and market analysis conducted by CeFPro and backed by an advisory board of 60 international industry professionals.

鈥溌槎乖粹�檚 inclusion in our global听Fintech Leaders 2021 Report is recognition of the great work that 麻豆原创 is undertaking,鈥� CeFPro Managing Director Andreas Simou said. 鈥淭he votes cast by the industry in the survey, voting 麻豆原创 best in accounting and treasury and also in core banking categories, also helped propel their overall position in the ecosystem by several places in the top 20.鈥�

CeFPro鈥檚 Fintech Leaders 2021 Report also includes research on industry trends, priorities and challenges. Key findings highlight advanced analytics and artificial intelligence as leading opportunities. These takeaways underscore the importance of making technology the backbone of fintech strategies for a state-of-the-art .

鈥淲e are honored to receive in back-to-back years this prestigious award in the categories of core banking, and accounting and treasury,鈥� 麻豆原创 Global Head of Banking Falk Rieker said. 鈥淚t is an acknowledgement of our industry thought leadership, our industry cloud strategy and our focus on delivering new and innovative industry solutions and capabilities that make a difference to our customers.鈥�

Visit the听. Follow 麻豆原创 on Twitter at听.

Media Contacts:
Stacy Ries, 麻豆原创, +1 (484) 619-0411,听stacy.ries@sap.com, ET
麻豆原创 麻豆原创 Room;听press@sap.com
Amy Greene, CeFPro, UK +44 (0)207 164 6582,
US +1 (888) 677-7007, amy.greene@cefpro.com; , GMT

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 麻豆原创 are intended to identify such forward-looking statements. 麻豆原创 undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect 麻豆原创’s future financial results are discussed more fully in 麻豆原创’s filings with the U.S. Securities and Exchange Commission (“SEC”), including 麻豆原创’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
漏 2021 麻豆原创 SE. All rights reserved.
麻豆原创 and other 麻豆原创 products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of 麻豆原创 SE in Germany and other countries. Please see for additional trademark information and notices.

Supply chains had to adjust overnight, businesses had to move to online sales within days, and climate change is an ever-present reality. Business leaders around the world have to transform their businesses 鈥� and they are doing so.

At 麻豆原创, our market success has its foundation in enterprise resource planning (ERP) solutions that help our customers be compliant and run at scale. This remains true with our next-generation suite of business applications that spans from finance to logistics. 麻豆原创 S/4HANA leverages emerging cloud capabilities to help customers cope with business model changes that are driven by technology, sustainability, or changing customer behavior.

Best-run businesses are intelligent enterprises, and as such, they use information in innovative, effective, and sustainable ways, connecting it with execution and management. Intelligent enterprises lead from a single shared source of information with a user experience that matches the way people work. 麻豆原创 S/4HANA benefits finance professionals by using flexible finance processes and eliminating data replication and redundancy.

required a cutting-edge cloud ERP solution that it could roll out efficiently across their global company in order to support their growing business. As an 麻豆原创 S/4HANA Cloud customer, New Sega reports a 50% reduction听in budget and forecasting costs with financial planning, as well as a 20% boost听in the number of automated financial postings in AR using machine learning.

Innovations in Universal Parallel Accounting

Chief financial officers (CFOs) of international companies need to provide consistent financial data reporting according to different accounting standards and currencies in parallel. To do this, they need to follow parallel accounting standards for group and local GAAP, which affect inventory valuation, work-in-progress, asset values, and so on.

Thousands of 麻豆原创 customers already rely on the capabilities of 麻豆原创 ERP systems to maintain multiple sets of books and in parallel to satisfy all different legal requirements of financial statement users accurately, efficiently, and effectively. 麻豆原创 HANA has provided a new technology foundation that has removed technical barriers and opened up a whole host of new opportunities for companies. Based on that, 麻豆原创 S/4HANA was built on a brand-new architecture with the universal journal at its center. The universal journal is our established foundation for accounting processes; it captures all financial data that had previously been distributed across multiple tables in one place. This allows for consistent parallelism across all sub-ledgers and value flows.

With the newest capabilities included in 麻豆原创 S/4HANA, we are offering a solution approach that takes parallel accounting to the next level: universal parallel accounting.

A new important innovation delivered with 麻豆原创 S/4HANA Cloud release 2011 is the flexible assignment of accounting principles. This means that new 麻豆原创 S/4HANA Cloud customers will also benefit from a new configuration option for the flexible assignment of a local GAAP, such as the German commercial code and accounting standards (HGB), as a leading accounting principle for the group ledger. This innovation is especially beneficial for our cloud customers as it gives them a higher level of flexibility that they did not have before. Only one configuration activity is required to update the assignment of the ledger to the accounting principle throughout finance applications such as general ledger, treasury, revenue recognition, and so on.

Universal Parallel Accounting at the Core of the Intelligent Enterprise: Next Innovation Steps

On top of that, parallel valuation is the next larger innovation in finance that is planned for 麻豆原创 S/4HANA in 2021 and will offer consistent and universal support of parallel accounting standards for end-to-end processes like make to stock/order and manufacturing of assets. These are now fully enabled for parallel accounting and allow the representation of different accounting principles across the whole value flow. With this, the solution will be able to valuate business processes in parallel for each required accounting principle in real time. Customers will also benefit from increased transparency and availability of real-time data, and a reduced total effort for implementation and configuration.

Looking ahead, we will continue to enhance parallel accounting by adding further use cases with the next topics on the road map to include consolidated views and alternative fiscal year variants. Consolidated views will offer customers an improved basis for decision-making and overall business steering effectiveness through increased data transparency and accuracy. In addition, the consistent support of alternative fiscal year variants offers next-level standardization alongside a lower level of workarounds and associated manual effort. Asset accounting is one example where manual effort will be significantly reduced in the context of alternative fiscal year variants.

Finance for the Digital Age

Finance professionals are increasingly moving into more strategic roles within their businesses and urgently need to advance beyond the restrictions of complex and redundant system landscapes. They need a single digital core that supports all their requirements for both transactional and analytical processes. An ERP system should be a single source of truth for the financial and operational data of a business. Data replications, reconciliations, and redundancies should be removed through process and technology simplifications while business continuity with reduced effort is guaranteed through a finance function that is powered by analytics.

Packed with innovations, 麻豆原创 S/4HANA is our intelligent finance solution for the digital age that is available in cloud, on premise, and in hybrid deployment options. Running on the in-memory platform of 麻豆原创 HANA, our solution provides flexible and easy-to-consume financial reporting for accounting, accounting and financial close, treasury and cash management, accounts payable and receivable, risk management, and much more. To find out more about what 麻豆原创 S/4HANA can do for your business, visit .

Jan Gilg is president of 麻豆原创 S/4HANA
.

This year, leaders will share their experience, insights, and perspectives on five dedicated tracks: End-to-End Implementation, Customer Experience and Engagement, Operational Excellence, Finance and Risk, and Data and Technology.

This event is designed for senior managers, vice presidents, and executives focused on business strategy, digital innovation, customer experience, sales, business operations, finance transformation and operations, risk management, asset management, IT infrastructure, and data management. Participants can build their own agenda by choosing from more than 25 live webinars based on personally relevant content, and can choose from more than 10 live webinars each day, experience customer case study agenda, and network with other leaders in real time.

On-Demand Keynotes

On-demand keynotes will introduce key themes and topics to be addressed during live sessions. Delivered by global executives, these topics will help impart a better understanding of how 麻豆原创 and its customers view the current market during these uncertain times. Keynotes will include:

• Financial Markets in Transition: Christoph Bohm, CIO and COO of Deutsche Borse AG
  
• Shared-Valued Health Platform: Maia Surmava, CIO of Discovery Health
• How to Become an Ecosystem Player: Karsten Crede, CEO of ERGO Mobility Solutions

Three Days of Live Customer Events and Case Studies

A range of executive customers from the banking, capital markets, central banks, and insurance industries will take the stage live from November 17-19, with new presentations continuously being confirmed. Here is a sample of what to expect from customer speakers, live events, and case studies:

• Life Insurance End-to-End Core Transformation with Seong Yeoul (SY) Lee, Samsung Life Insurance: Lee will explore why SLI opted for an insurance core transformation, why SLI chose to partner with 麻豆原创, and what SLI has learned from this experience.
• Panel Discussion: Accelerated Launch of Greenfield Insurer: Hear how Greenfield Insurers is accelerating the end-to-end implementation of 麻豆原创 solutions. Presenters will discuss the project background and collaboration experiences with 麻豆原创, the individual journeys to date, and what is planned next, as well as why they chose to take this particular approach.
• From Valley to Vast Bank – A Digital Transformation Journey: Brad Scrivner from Vast Bank and Andrew MacDowell from Axxiome Americas will discuss how they created a modern financial ecosystem by implementing an agile, open e2e banking platform.
• Steve Everett of Lloyds Banking Group will discuss how 麻豆原创 provides a real-time banking platform that meets the complex business requirements of large corporate and institutional clients. This includes how complex transactions can be completed faster, liquidity can be managed more efficiently, and productivity can be increased through additional insight into operations.
• With a background in data analysis for consumer experiences, including automotive and fintech, Tiffany Ng from Consumer Insights at Experian will address how she puts the consumer at the center of strategic initiatives. She will also address how her focus on agile and automated platforms to support traditional objectives is enabling her team to deliver more insights faster.
• Drawing on听over 25 years of market research experience, Richard Waring from Group Insights & Customer Experience at Group Marketing, Bank of Ireland Group will address how he is helping the bank build a new program of insight and research by using 麻豆原创 and Qualtrics software to send more than 5 million surveys to customers in real time across key daily touch points.

Register for Free and Attend 麻豆原创 Financial Services Live 2020

While it’s not possible to be together in person this year, 麻豆原创 is bringing the next best thing. A virtual event platform from Pathable offers an immersive experience with seamless networking and interactivity. This includes interactive breakouts, where attendees can join a variety of group discussions, participate in regional community groups and live demos with 麻豆原创 experts, and connect with partners and customers to ask real-time questions.

Don鈥檛 miss this signature industry event: !

鈥淏y helping these enterprising startups in the 麻豆原创.iO program scale, we enable our customers to benefit from the value of some of these unique solutions and emerging technologies when they become available in 麻豆原创 Concur App Center,鈥� said Andy Watson, 麻豆原创 Concur senior vice president and general manager, Asia Pacific Japan and Greater China.

The selected startups will have access to curated mentorship from 麻豆原创 executives, exposure to 麻豆原创 technology and application programming interfaces (APIs) and opportunities to collaborate with 麻豆原创 customers. The program will culminate at the 麻豆原创.iO Cohort Demo Day in December 2020.

鈥淐OVID-19 is pushing many businesses to go digital in search of growth,鈥� Singapore Economic Development Board Vice President Ang Chin Tah said. 鈥淭he Singapore Economic Development Board is glad to support the 麻豆原创.iO Foundry Singapore Fall 2020 acceleration program, which will bring startups from all around the world to Singapore to develop products that meet the needs of the new operating environment. Singapore鈥檚 established base of industry leaders in finance and digital, as well as connectedness to regional markets, make us a great testing ground for their ideas. It is a wonderful new addition to our thriving ecosystem.鈥�

In line with the initiative, the cohort includes several startups founded or led by female entrepreneurs, a testament to 麻豆原创鈥檚 belief that a healthy ecosystem includes entrepreneurs from diverse backgrounds.

The following startups are part of the听 Fall 2020 program:

• offers a credit card enablement platform, enabling the payment or collection of big expenses using credit cards, where cards are not accepted today.
• creates a standardized international luggage delivery and tracking platform by widely applying radio frequency identification (RFID) while working with logistics services providers in varying countries.
• makes it easy for users to move digital cash securely, allowing easy spending, sending and lending.
• 鈥檚 open banking platform and APIs empower financial innovators to create financial services products and experiences for their customers.
• offers cognitive technology that can read, interpret and extract data from business documents faster, more affordably and more precisely than humans, at scale and in any language.
• is the world鈥檚 first platform for circadian (body rhythm) shifting and helps businesses empower their traveling employees to create their own jet lag plans.

To learn more about 麻豆原创.iO and how 麻豆原创 is helping innovators inside and outside of 麻豆原创 build products, find customers and change industries, visit .

Visit the . Follow 麻豆原创 on Twitter at and .

Media Contacts:
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; press@sap.com

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 麻豆原创 are intended to identify such forward-looking statements. 麻豆原创 undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect 麻豆原创’s future financial results are discussed more fully in 麻豆原创’s filings with the U.S. Securities and Exchange Commission (“SEC”), including 麻豆原创’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
漏 2020 麻豆原创 SE. All rights reserved.
麻豆原创 and other 麻豆原创 products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of 麻豆原创 SE in Germany and other countries. Please see for additional trademark information and notices.

The report states that 麻豆原创 offers leading-edge financial technology, machine learning, Big Data and analytics and cites 麻豆原创鈥檚 strength in technology investment, noting that the 麻豆原创 S/4HANA Cloud Finance solution includes innovations such as machine learning, continuous close features and automation through robotics processing. The IDC MarketScape also cited 麻豆原创鈥檚 rapid implementation methodology as a strength, with 麻豆原创 S/4HANA Cloud Finance implementation possible within a month using 麻豆原创 Activate methodology where standard best practice processes, localized for 43 countries, can be used out of the box.

Globalization was also listed as a key strength, making 麻豆原创 particularly attractive for large multinational, multientity organizations for which localization can be cumbersome and costly. The report states that 麻豆原创 S/4HANA Cloud Finance is adept at supporting even the most complex globalization demands including local legal guidelines and reporting standards.

“The ground underneath the feet of today’s financial professional is rapidly shifting to digital,鈥� said Kevin Permenter, research manager, IDC’s Enterprise Applications. 鈥淚t will be the companies with the right mix of talent and software tools that will be best able to thrive within these changing conditions. Software vendors that prioritize features that provide enhanced visibility, flexibility and agility will find themselves well positioned for future growth.”

With its industry-leading financial solutions and global approach, 麻豆原创 is poised for accelerated adoption as the finance industry worldwide continues its record pace of digitalization.

To learn more, visit .

Visit the . Follow 麻豆原创 on Twitter at .

Media Contact:
Samantha Finnegan, +1 (415) 377-0475,听samantha.finnegan@sap.com, ET
麻豆原创 麻豆原创 Room;听press@sap.com

About IDC MarketScape: IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor鈥檚 position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

*IDC MarketScape: Worldwide SaaS and Cloud-Enabled Enterprise Finance and Accounting Applications 2020 Vendor Assessment 鈥揇oc #US45837320, May 2020.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 麻豆原创 are intended to identify such forward-looking statements. 麻豆原创 undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect 麻豆原创’s future financial results are discussed more fully in 麻豆原创’s filings with the U.S. Securities and Exchange Commission (“SEC”), including 麻豆原创’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
漏 2020 麻豆原创 SE. All rights reserved.
麻豆原创 and other 麻豆原创 products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of 麻豆原创 SE in Germany and other countries. Please see for additional trademark information and notices.

EY, a global leader in assurance, tax, transaction and consulting services, will help implement the solution 鈥攚hich will replace Valley Bank鈥檚 previous financial systems. The combination of EY teams鈥� industry and business acumen with 麻豆原创鈥檚 advanced technology solutions will help Valley Bank become an intelligent enterprise, gaining the agility needed to thrive in the finance industry.

Valley Bank听is a regional bank and principal subsidiary of Valley National Bancorp (NASDAQ: VLY) headquartered in New York, N.Y., with approximately $42 billion in assets and 200 branch locations in New Jersey, New York, Florida and Alabama. The financial institution, offering both retail and commercial banking services, chose 麻豆原创 S/4HANA Cloud to eliminate the current extensive manual workflow processes and reconciliations. With stable architecture, high integration and predelivered best practices, 麻豆原创 S/4HANA Cloud will allow Valley Bank to make data-driven decisions based on meaningful insights, rather than spend time on manual processes.

鈥淲e provide personalized service and custom solutions so our customers can make smarter, safer and more convenient money-management choices,鈥� said Valley Bank鈥檚 SEVP and CFO, Mike Hagedorn. 鈥淢aking this journey to digitally transform our financial systems enables us to better deliver on this goal. With 麻豆原创 S/4HANA Cloud, we鈥檙e able to achieve more, faster, which will be critical to keep pace with our customers鈥� expectations.鈥�

Visit the . Follow 麻豆原创 on Twitter at .

Media Contact:
Stacy Ries, +1 (484) 619-0411, stacy.ries@sap.com, ET
麻豆原创 麻豆原创 Room; press@sap.com

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 麻豆原创 are intended to identify such forward-looking statements. 麻豆原创 undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect 麻豆原创’s future financial results are discussed more fully in 麻豆原创’s filings with the U.S. Securities and Exchange Commission (“SEC”), including 麻豆原创’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
漏 2020 麻豆原创 SE. All rights reserved.
麻豆原创 and other 麻豆原创 products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of 麻豆原创 SE in Germany and other countries. Please see for additional trademark information and notices.

In these unpredictable times particularly, digital infrastructure and tools are of pivotal importance in order to ensure operations and achieve efficiency, effectiveness, and business continuity.

For , a bank is a . To accomplish this, Eurobank is implementing a company-wide digital transformation 鈥� with a people-first approach. The bank recognized that not only would it need to create an inspiring employee experience, but also empower its employees with the tools to improve their everyday work.

Eurobank turned to and to radically transform its core human resources (HR) function. The company went live with 麻豆原创 SuccessFactors Employee Central and 麻豆原创 SuccessFactors Learning in the first quarter of this year. At the beginning of 2020, it entered wave two of its implementation of the entire 麻豆原创 SuccessFactors Human Experience Management (HXM) Suite, aiming to go live with 麻豆原创 SuccessFactors Onboarding, 麻豆原创 SuccessFactors Recruiting, and 麻豆原创 SuccessFactors Performance & Goals by the end of the year.

Eurobank aims to simplify, redesign, and digitize internal HR processes in order to create greater efficiencies, become paperless, and be more customer-oriented, offering a more personalized employee experience. Additionally, Eurobank is creating a more engaging experience for its approximately 8,500 employees by increasing autonomy, accountability, and work mobility. Through 麻豆原创 SuccessFactors software, employees can access the HR management system on all of their smart devices and enjoy more self-service functionalities.

Enhancing employees鈥� digital skills and capabilities as well as fostering a culture of open communication and collaboration are key priorities for Eurobank. With 麻豆原创 SuccessFactors solutions, Eurobank employees can access their own personal data, browse learning platforms, and subscribe for online courses while at the same time having all business contact information for their colleagues and organization anytime, anywhere.

Managers can easily approve workflow activities and have greater insight into the learning history and profiles for their teams 鈥� so they can actively support their professional development.

Another critical improvement due to 麻豆原创 SuccessFactors solutions is the access to targeted HR data and analytics. Eurobank leverages data-driven insights for the design of all people management initiatives.

Head of Group Human Resources at Eurobank Natassa Paschali said, 鈥淎s part of Eurobank鈥檚 digital transformation strategy, it was important to shift the role of HR from managing transactional, paper-based processes to pioneering true internal digitization of the employees鈥� interaction with the organization. With 麻豆原创 SuccessFactors software, we are building a technological infrastructure that is already embraced by our employees and will eventually facilitate our transition to a digital workplace.鈥�

Ioannis Potamitis, Applications and Technology director at PwC Greece said, 鈥淲hile technology is a key enabler in driving digital transformation, it ultimately comes down to the people. Eurobank is demonstrating the power of cloud-based HR technology to broaden collaboration and communication capabilities, enhance information flow, and deliver engaging employee experiences.鈥�

Francisco Mateo-Sidron is senior vice president and general manager of 麻豆原创 SuccessFactors in EMEA.

No matter how integrated a business鈥� systems and processes were before the COVID-19 pandemic, significant disconnects across all organizations are beginning to emerge. For example, planning and risk analysis often lack the depth required to fully understand the potential impact and importance of critical decisions. Meanwhile, no one knows with certainty whether end-to-end workstream processes are running as efficiently as they should.

Such a situation is far from ideal for a workforce that is now primarily remote. Any hint of a complex process that is predominantly manual and highly customized with out-of-system workarounds is no longer reasonable. However, the inability to consume and deploy software cost-efficiently and fast enough is hampering efforts needed to close those gaps and ensure business continuity.

麻豆原创 is firmly committed to supporting customers as they navigate through unexpected disruptions 鈥� whether it be repatriating stranded travelers, automating contact tracing of COVID-19 patients, or countless other initiatives. A portfolio of solutions and services help businesses innovate and adopt at lightning speed with out-of-the-box capabilities and ready-to-run processes. These deployments can be further accelerated with software-as-a-service (SaaS) and cloud solutions that are supported by 麻豆原创 Model Company, 麻豆原创 Advanced Deployment, and 麻豆原创 Activate.

Uniting Finance and Procurement with Intelligence and Governance

With a global, distributed, and diverse operational ecosystem, companies can maintain analytical and operational transparency as well as control business-wide compliance. And for many companies, it all begins with the integration of finance and procurement operations.

The portfolio is uniquely qualified to help businesses overcome these challenges 听quickly, seamlessly, and intelligently. The portfolio blends established applications with emerging technologies and draws on the latest innovations, industry experts, and ecosystem of innovators from 麻豆原创. With a strategy based on a consistent core of data and delivered through out-of-the-box functionalities and, when needed, limited customization, it brings an opportunity to further optimize operations and initiate change faster with less risk. The reasoning behind this approach is based on five fundamental principles of transformation:

• Focus on improving processes and optimizing change management, not just enabling technology and IT platform innovation
• Drive changes necessary to improve functionality, efficiency, and effectiveness with a business-led initiative
• View the IT platform as an enabler of the business and its capabilities
• Ensure innovations reflect breakthrough industry trends and value driver aspirations and expectations for change
• Align business needs and technology investments to achieve mutual organizations goals

This mindset allows us to enable customer success through that challenge transformation journeys and reimage processes. In addition, the latest relevant industry innovations are used to support the realization of business value with a standard service option for transforming finance and procurement operations 鈥� a selective data transition with centralized processes across procurement and finance.

In this scenario, our customers maintain existing operations in legacy applications while moving adopted capabilities into two editions of 麻豆原创 S/4HANA step by step and at their own pace.

can accelerate digital transformation programs by providing a modern, innovative platform and a common user interface for centrally managed finance operations. It captures real-time financial transactions from multiple source systems to consolidate financial reporting and transactional processing without disrupting 麻豆原创 or third-party enterprise resource planning (ERP) systems. The solution also comes with a set of enabling technologies that allow customers to innovate with 麻豆原创 S/4HANA Finance within a few months, depending on scope.

With the central finance solutions, our customers can gain a reconciled general ledger foundation that supports on-demand finance consolidation and analysis of key performance indicators during a specific period. They can drill down to the source line-item detail and identify errors in the closing process early on through integrated validation.

On the other side of the integration is . The solution supports organizations that require multiple business units to operate independently based on industry complexity, legal and regulation compliance, and defense and security requirements. It collects and merges procurement activity while significantly reducing the replication and consolidation of master data. Procurement activity is also combined and aggregated into a single instance of 麻豆原创 S/4HANA to increase visibility into purchasing decisions, communicate better with suppliers, analyze spend comprehensively, and foster compliance with shared services centers.

For example, the guided buying capability, available in the 麻豆原创 Ariba Buying solution, can be integrated into 麻豆原创 S/4HANA for central procurement to guide employees through requisitioning, contracts, and purchasing goods and services. Additionally, procurement data is distributed to local, operational backend systems to give organizations insight into their buying habits and budget needs.

Backend ERP and legacy system independence is another set of critical value drivers for centralized procurement. It allows business units to operate independently and retain unique business processes while leveraging the global spend capabilities of an entire organization. Negotiating global agreements and distributing them to all connected backends enable related spend from all systems to be accrued automatically in the central contract. In return, the business gains significant savings for all purchasing groups and business units.

Moving Beyond Disruption with a New Approach to Digital Innovation

Considering the pace of change right now, reporting and analytics tools must provide the visibility and insight needed to address the everyday minutia of change. This requires tight integration across the entire heterogeneous system landscape, tying together everything from legacy applications to the latest technology residing on premise and in the cloud.

This reality is what inspires 麻豆原创 Business Transformation Services to help customers succeed in challenging transformation journeys. We help reimagine business processes and support the latest and most relevant industry innovations by analyzing our customers鈥� current states, recommending the best architecture to deliver on their expectations, and defining their transformation road map. Best of all, everything we do is delivered with a commitment to realize business value on our customers鈥� terms.

Now more than ever, businesses must reduce risk and realize short-term benefits. This requires an agile approach to integrate business functions, such as finance and procurement operations, and 麻豆原创 Services and Support offerings are ready to deliver such an intelligent operation.

Stay in the conversation by following 麻豆原创 Services and Support on , , , and .

Gary Feist is a services architecture expert and principal architect at 麻豆原创.
Michael Parfenov is a services architecture expert and principal architect at 麻豆原创.
Sobana Iyengar is an enterprise architect at 麻豆原创.

The verdict depends on companies having the right technology in place to manage every financial move with accountability, governance, and compliance off site without disruption.

After years of questioning whether their organizations can work effectively remotely, finance leaders finally received their answer less than one month after complying with local stay-at-home orders. CFOs, surveyed by at the end of the first quarter of 2020, realized cost savings that support business continuity and did not negatively impact operations. In response, nearly 75 percent expect to continue with this arrangement permanently with at least five percent of their previously on-site workforce.

Despite the benefits, adopting work-from-home policies is a sweeping shift in the workplace culture and must be treated as so. Finance teams must address the technology and human aspects of swapping physical interactions for online collaboration with the right software and training to optimize business and operational outcomes, as well as their value, without disruption.

Strengthening the Resilience of Everyday Finance Operations

Not a single moment can be lost due to delays in information gathering, response, and action. Finance must lead with cross-functional off- and on-site collaboration to help drive expectations 鈥� such as better customer experiences or more flexible and adaptable supply chains 鈥� with accurate forecasts, compliant and efficient processes, and data security.

Take, for example, the pressure to close first-quarter financials in the middle of a pandemic with nearly 100 percent of the finance workforce working from home. Some customers have relied on 麻豆原创 Solution Extensions, such as the , to standardize and automate their financial closing processes in order to improve operational efficiency, compliance, and decision-making.

Connecting people, information, and technology with a digital approach to account substantiation and automation enables the continuity of the accounting function. It fosters compliance in a complex regulatory environment and helps finance deliver strategic contributions to the business. More importantly, executives can access real-time performance insights at their fingertips to help navigate the fog of uncertainty and volatility strategically, intelligently, and innovatively.

Integrating Finance Intelligence for the Entire Business

Another critical aspect of running finance processes off site is uniting all data 鈥� from finance operations and accounting to treasury, compliance, risk, planning, and analysis. By expediting and simplifying the transaction integration process, CFOs can drive down costs and boost efficiency with greater intelligence and agility.

The is designed to deliver such an advantage by accelerating the integration of third-party enterprise resource planning (ERP) systems and 麻豆原创 solutions. The technology connects and normalizes transactions from any source in real time, increases visibility into non-麻豆原创 operational details, and streamlines the implementation of capabilities.

Securing a Diverse Landscape of Finance Data

As long as data collection and use continue to surge, finance organizations will remain accountable for compliance with various regulations concerning personal information 鈥� covering everything from security to individual rights for data removal. As this data is shared beyond the boundaries of the physical office, data protection and governance will only become more critical.

The is helping customers support the European Union鈥檚 General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and other data protection mandates. With the power of machine learning, customers can streamline their governance of growing requirements, protect personal data, and safeguard business interests. Managing the use of data is also greatly enhanced through the automation of data subject access requests, data-flow capture, and sophisticated analytics and reporting.

Simultaneously, finance teams must balance the need to give business partners ready access to enterprise data and protect valuable intellectual property and sensitive corporate information across industries, countries, and regions.

The helps achieve this balance by maximizing existing instances of 麻豆原创 applications and providing real-time, secure, attribute-based access to enterprise data. A dynamic authorization logic helps ensure access control policies are automatically followed, and advanced auditing functionality facilitates continuous monitoring and documentation of regulatory compliance.

A certain level of risk is unavoidable when managing data access; otherwise, business productivity could be unreasonably limited. However, this does not mean that controls need to be manually driven and time-consuming.

With the , CFOs can see the financial impact of access risk for business processes and transactions and enable a risk management strategy that suits the organization. The technology supports the ability to detail and summarize the monetary value of access violations for a true picture of a company鈥檚 exposure with predictive analytics.

Turning Ordinary Transactions Into Extraordinary Intelligence

Adopting a new approach to invoice, order confirmation, and delivery notes processing along with transforming accounts payable presents a unique opportunity to turn those transactions into business intelligence. Meanwhile, digital capabilities, such as machine learning and artificial intelligence (AI), accelerate these tasks to meet deadlines with greater accuracy and less risk.

Many customers depend on the to set the foundation for this intelligent edge. It digitalizes and automates accounts payable processes, allowing finance teams to manage and speed invoice processing and workflows while supporting compliance with national and international regulations. These capabilities can help meet compliance deadlines, reduce data errors and associated costs, while improving financial visibility and reporting. Plus, CFOs can reward vendors with timely payments while taking advantage of discounts and lower supplier management costs.

By ensuring this transactional data is of high quality, the entire company benefits from efficient and effective processes and better decision-making to uncover and maximize new sources of revenue and business value. The provides the flexibility and unity to turn raw data delivered through billing applications into valuable information for revenue innovation.

By streamlining data mediation, the application helps to reduce process complexity and eliminate the need for expensive point-to-point integration solutions. Finance organizations are equipped to adapt to change through a simple drag-and-drop configuration instead of relying on time-consuming customizations. Plus, they can eliminate data and process duplication, detect inconsistent and faulty data, and prevent revenue leakage.

Rising to the Challenge of Business Continuity

Economic and market uncertainty present significant challenges to business continuity and financial resilience. But sometimes, better ways of getting things done emerge too 鈥� which may not have been considered in times of stability.

First, a coherent digital strategy of connectivity and intelligence, data security and governance, and compliance should be established for all critical systems in order to optimize the flexibility of the employee experience. These capabilities are vital during disruption; in better times, they will be the financial leverage CFOs want to sustainably move business forward.

.

The next article will explore how 麻豆原创 Solution Extensions can help connect people, things, and assets to form a core ecosystem of intelligence.

To prepare for these shifts and to thrive in the future, financial companies need essential competencies. Key capabilities for today鈥檚 financial organizations include the following:

• Agility, which helps organizations keep pace with business and technology trends such as open banking, collaboration, and cloud deployment
• Acceleration, which allows financial companies to serve customers faster, for example, by using intelligent technologies, simplifying processes, reducing time to market for products, or enabling smart delivery options
• Cost efficiency to help financial institutions automate servicing up to full straight-through-processing
• Excellent business insight spanning from product information to revenue-related figures, such as interest key indicators

To help companies pave the way to intelligent transactional banking, 麻豆原创 collaborated with leading banks, researched market trends, and explored research insights. And the company built on its experience of providing the backbone of transactional banking for customers worldwide, managing millions of accounts and contracts.

By launching 麻豆原创 Transactional Banking for 麻豆原创 S/4HANA, 麻豆原创 is helping financial institutions provide next-generation banking services and extraordinary customer experiences. 听The package provides financial institutions with an open-core banking platform that enables intelligent transactional banking. It allows banks to participate in ecosystems — supporting open banking and beyond. 听Furthermore, it facilitates cost savings through intelligent technologies and processes.

麻豆原创 Transactional Banking for 麻豆原创 S/4HANA comprehensively supports and automates the servicing of transactional banking processes in both retail and corporate banking. The solution enables financial institutions to meet market demands such as cooperation, new business models, or cloud.

Solution highlights that help financial institutions cope with changing conditions in today鈥檚 banking industry include:

• Collaboration and ecosystems: APIs and other interfaces support open banking and new business opportunities including marketplaces.
• Cloud: A choice of flexible delivery options 鈥� such as cloud, hybrid, or on premise 鈥� and increased agility through faster deployment models are available.
• Innovative pricing models: Flexible capabilities provide options such as cross-product pricing.
• Fast time-to-market: Graphical product configuration helps users get up and running quickly.
• User experience: An award-winning user interface allows users to quickly become proficient.
• Next-generation processes: Simplified processing streamlines tasks, helping, for instance, to more efficiently manage open items.
• Real-time processing: 24×7 availability helps ensure rapid transaction processing.
• Intelligent automation: Automating numerous processes helps reduce costs using intelligent technologies; for example, using machine learning to help post-processing run faster and more efficiently.
• System landscape simplification: Deployment in a single instance with other 麻豆原创 S/4HANA solutions enhances cost efficiency
• Unseen data insights: The ability to integrate data from operational sources (OLTP) and analytical sources (OLAP) provides new ways of business insights.
• Reporting capabilities: On-the-fly calculations accelerate analysis with fast data access.

麻豆原创 Transactional Banking for 麻豆原创 S/4HANA offers valuable benefits to financial organizations, helping them achieve unparalleled competitive advantage on their intelligent enterprise journey.

For more information about the solution, visit the .

Andjaro helps companies redeploy employees internally and works with 麻豆原创 SuccessFactors solutions. 麻豆原创 works with Andjaro to provide 麻豆原创 customers with a real-time overview on staffing gaps, employee skills, availability and proximity to propose voluntary redeployment for a short period of time. 麻豆原创.iO Fund previously invested in the Balderton-led 2018 Series A round.

鈥溌槎乖� customers are continually exploring how to best allocate their most valuable resource 鈥� their talent 鈥� especially in the current environment,鈥� said Ram Jambunathan, 麻豆原创 senior vice president and managing director of 麻豆原创.iO. 鈥淎ndjaro鈥檚 platform can provide enterprises with new opportunities to redeploy existing human resources efficiently.鈥�

When a staffing gap appears, the platform searches among employees for a relevant and available match. If a match is found, Andjaro then generates legal and salary documents, making remote distributed workforce management simple. If no employee match is found internally, the platform can then connect to 麻豆原创 Fieldglass solutions to find external temporary workers. Companies including Benefit Cosmetics, Compass, ENGIE, Elior, Sodexo and Starbucks have realized over 200,000 redeployments with Andjaro and have saved millions of dollars while doing so.

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Anke Otto-Jungkind, +1 (650) 796-6478, anke.otto-jungkind@sap.com, PT
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麻豆原创 麻豆原创 Room; press@sap.com

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