WALLDORF — SAP SE (NYSE: SAP) today announced the expansion of its joint co-innovation project with insurance giant Swiss RE, which now provides software that goes beyond accounting to include simulation, forecasting and planning capabilities essential to support the business in financial analysis.
SAP and Swiss Re started their journey in 2017 with the goal of creating an innovative multi-GAAP solution to manage increasingly complex financial steering and reporting requirements, including IFRS 17 and 9 compliance affecting insurance companies worldwide. Swiss RE provides reinsurance, insurance and other insurance-based risk transfer products.
“I am very proud of how much the Swiss Re and SAP teams have rapidly achieved to produce this next shipment,” Swiss Re Reinsurance CFO Gerhard Lohmann said. “Bringing key functionality into the system, along with the addition of forecasting, planning and simulation, brings greater financial steering capabilities. The thought leadership on multivaluation and IFRS we have applied as part of the co-innovation has been well received throughout the industry.”
“Our close partnership with Swiss Re has helped us create an exceptional customer experience across the insurance and financial sectors,” said Luka Mucic, SAP CFO and member of the Executive Board of SAP SE. “This next stage of co-innovation with Swiss Re means increased guidance, transparency and support across financial projects for our customers. It marks a notable effort to enable more than just accounting projects on our SAP S/4HANA platform.”
Stacy Ries, SAP, +1 (484) 619-0411, firstname.lastname@example.org, ET
SAP News Center press room; email@example.com
Media Relations Team, Swiss Re, +41 (43) 285-7171, firstname.lastname@example.org, CET
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 “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP 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 SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’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.
© 2019 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.
Source: SAP ERP News