Germany July 14, 2011 SAP AG Germany
SAP Bank Analyzer calculates the detailed values required by different accounting standards in parallel by using mostly automated processes, a separate subledger and a standard set of data. This enables banks to produce the various financial statements in a timely manner and provide them to the different lines of business, thus helping ensure that the figures are as accurate and consistent as possible and speeding up the process as a whole.
"Wherever it makes sense to do so, we use standard software to manage our bank," said Frank Annuscheit, chief operating officer, Commerzbank. "In SAP, we have a partner for this project whose software gives us the functions and flexibility we need."
"With SAP Bank Analyzer, all the data needed for the entire financial reporting process is available at anytime in one system, in the right quality, and at the right speed," said Jim Hagemann Snabe, co-CEO, SAP AG. "This is vital in the highly regulated banking sector."
Germany Eastern Europe Germany EUR 12.7 billion
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