SAP Cost and Revenue Allocation for Financial Products enables better cost and profitability management due to its processing capacity and detailed analysis of large volumes of data
SAP announces a solution to optimize the management of integrated risk and finance processes. The SAP Cost and Revenue Allocation for Financial Products application will help banks and insurers to improve the profitability of their products, due to their ability to process and analyze large volumes of corporate data in more detail.
“Cost and profitability management is becoming more and more important as the industry proves to be more competitive,” says Theo Pappas, Vice President of Strategic Industries at SAP Brazil. According to the executive, having the ability to process essential data, quickly, throughout the organization, guarantees banks and insurance companies the vision they need to stay ahead of competitors and increase the return on investments.
Research by consultancy IDC indicates that financial services institutions, despite having a high demand for solutions that consolidate financial and risk data, are still at varying levels of integration when it comes to connecting their finance and risk departments through technology . SAP Cost and Revenue Allocation for Financial Products aims to precisely overcome the technical limitations in reallocating costs and analyzing data in real time at the most granular level possible.
“The leading banks and insurance companies are looking to consolidate their operations on a single, integrated IT platform that guarantees efficiency and business intelligence, but research shows that only about half of these institutions have been able to achieve this goal,” says Li-May Chew , research director at IDC Financial Insights. “By adopting new technology solutions, such as those from SAP, companies can work smarter and better plan and predict future changes in the market,” concludes Chew.
A world leader in the enterprise software application market, SAP (NYSE: SAP) helps companies of all sizes and sectors in the market to function better. By covering everything from operations to executive analysis, and from desktops to mobile devices, SAP empowers people and organizations to work together and explore business more efficiently to stay ahead of the competition. SAP services and applications give 291 thousand customers worldwide the conditions to operate, decide, adapt and collaborate better and grow with sustainability. For more information, visit the website www.sap.com.br, the press room http://brasil.news-sap.com/ and Twitter @ SAPNotíciasBR.
FleishmanHillard – SAP Brasil Press Officer
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