WALLDORF — SAP SE (NYSE: SAP) today unveiled a new solution to help industry manufacturers grow their business while reducing compliance cost and risk.
Powered by the SAP HANA platform, the SAP Cloud for Product Stewardship solution is a cloud-based solution used to assess, manage and control manufacturing product compliance and marketability by linking together in-house, supply chain and regulatory information.
Compliance with product-related regulations is a must for manufacturing companies. But those regulations are increasing in number and complexity all over the world. To support and streamline product compliance processes, SAP offers an intuitive cloud solution that helps to assess, manage and maintain the compliance and marketability of products. The solution contains up-to-date regulatory content, links together all required information, automatically checks compliance and presents compliance information and statuses via powerful reports and analytics.
With today’s regulatory landscape in flux, more and more data and regulatory information must be collected and kept up-to-date. Within the SAP Cloud for Product Stewardship solution, all compliance-related master data required for products, raw materials and substances can be maintained, loaded and managed. The solution contains up-to-date regulatory content, for example, substance lists based on dozens of regulations. Compliance requirements from authorities, customers and other stakeholders can be determined and managed. The solution automatically calculates the compliance status against those requirements and informs the user about the reason for a specific status. A regulatory building block concept allows flexibly adding new compliance requirements and content.
Twenty-eight SAP customers from consumer products and chemical companies in Europe and the United States provided input and contributed to the design of the SAP Cloud for Product Stewardship solution. Akzo Nobel N.V. was one of these co-innovation customers. “This new cloud solution from SAP could help us ensure product regulatory compliance by predictive assessment of regulatory demands,” said Lisbeth Svensson, senior content and development expert, Business Area Specialty Chemicals, Akzo Nobel. “Not only will it embed and automate product regulatory compliance in business processes such as R&D, purchasing, product stewardship and sales, it also makes compliance information easily available wherever needed.”
“Companies need to control product compliance risks along complex supply chains. They have to find smart ways to do it with the given resources so that compliance costs remain under control,” said Hans Thalbauer, senior vice president, Extended Supply Chain Solution Management, SAP. “Going cloud with the topic of product compliance makes it easier for our customers to respond promptly to regulatory changes and to disclose product compliance information within business networks.”
The new solution will be showcased at the International SAP Conference for Chemicals being held October 5-6 in Düsseldorf, Germany.
Angela Schwecke, +1 (416) 791-2692, firstname.lastname@example.org, ET
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.