WALLDORF — SAP SE (NYSE: SAP) today announced it has been named a Leader in the “IDC MarketScape for Worldwide SaaS and Cloud-Enabled Enterprise Finance and Accounting Applications 2020 Vendor Assessment” report.* The report evaluated six worldwide vendors in SaaS and cloud-enabled enterprise finance and accounting applications and positioned SAP as a Leader.
The report states that SAP offers leading-edge financial technology, machine learning, Big Data and analytics and cites SAP’s strength in technology investment, noting that the SAP S/4HANA Cloud Finance solution includes innovations such as machine learning, continuous close features and automation through robotics processing. The IDC MarketScape also cited SAP’s rapid implementation methodology as a strength, with SAP S/4HANA Cloud Finance implementation possible within a month using SAP 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 SAP particularly attractive for large multinational, multientity organizations for which localization can be cumbersome and costly. The report states that SAP 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,” said Kevin Permenter, research manager, IDC’s Enterprise Applications. “It 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, SAP is poised for accelerated adoption as the finance industry worldwide continues its record pace of digitalization.
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’s 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 –Doc #US45837320, May 2020.
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