Global Financial Information Services Company Markit Selects SAP to Help Manage the Company’s Financial Planning Requirements

April 16, 2010 by SAP News 0

Feltham, UKSAP announced today that global financial information services company, Markit, has selected SAP BusinessObjects Planning and Consolidation (BPC) following its successful implementation of the SAP Business All-in-One solution. The technology solution was selected by Markit’s finance department based on the functionality and scalability of the technology.

Markit was formed in 2001 as the first independent source of daily credit derivative pricing. Today, Markit is a leading, global financial information services company that provides independent data, valuations and trade processing across all asset classes. Clients include the most significant institutional participants in the financial market place.

“Markit selected SAP’s BPC solution because it will allow us to streamline the planning, budgeting and forecasting process. Our successful implementation of the SAP Business All-in-One solution a year ago encouraged us to look at other areas of the business that would benefit from additional streamlining of processes,” said Rony Grushka, Chief Financial Officer of Markit.

The SAP BPC solution will enable Markit to integrate corporate and departmental financial planning seamlessly, quickly model business scenarios and re-forecast to meet rapidly changing business conditions.

“The continued investment in SAP from Markit proves that our technology addresses the needs of fast-growing mid-sized businesses and provides strategic benefits, as well as a platform for future growth. Customer relationships are key to SAP and it delights me to see our existing customer base coming back again and again for help with their business requirements,” said Stephen Read, Director of SME, SAP UK & Ireland.

Markit selected SAP BusinessObjects Planning and Consolidation in March 2010 and it is expected to go-live in August 2010.

About SAP® Solutions for Small Businesses and Midsize Companies
With more than 73,000 small and midsize customers worldwide, SAP is a leading provider of business software applications to the small and midsize enterprise (SME) market. Since every business is unique, the SAP portfolio of solutions enables them to choose the right solution to best fit their needs. The portfolio includes SAP® Business One, a single integrated application for small businesses to manage their entire business; SAP® Business ByDesign™, the industry’s most complete, integrated and adaptable on-demand solution for midsize companies; SAP® Business All-in-One, a customizable and extensible solution for midsize companies with deep industry best practices built-in; as well as software from the SAP® BusinessObjects™ portfolio, including Crystal Reports® software, Xcelsius® software and SAP® BusinessObjects™ Edge solutions. An expanding network of 6,000 companies in the SME ecosystem is not only selling, implementing and maintaining the solution portfolio but also acting as trusted advisor or consultant and providing flexible adaptation to customers’ growing business needs Additionally, small businesses and midsize companies can gain complete clarity and transparency across their business quick and at an affordable price, improve operational excellence and decision-making, lower operating costs and risks and respond quickly to changing market conditions. To learn more about how SAP can help companies become best-run businesses, visit www.sap.com/sme.

About Markit
Markit is a leading, global financial information services company with over 1,400 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base includes the most significant institutional participants in the financial market place. For more information, see www.markit.com

For further information, please contact:
Molly McDonagh, molly.mcdonagh@sap.com / +44 (0)7966 975 287 GMT

About SAP
SAP is the world’s leading provider of business software(*), offering applications and services that enable companies of all sizes and in more than 25 industries to become best-run businesses. With more than 95,000 customers in over 120 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE, under the symbol “SAP.” For more information, visit www.sap.com.

(*) SAP defines business software as comprising enterprise resource planning, business intelligence, and related applications.

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