SAP FPSL and SAP PaPM conquer the international markets
As a Premium Partner for SAP software solutions in the financial services (FS) sector, the international market is an important field of activity for ADWEKO. The innovative products based on the latest technology also inspire customers outside the German-speaking countries.
SAP Financial Products Subledger
In the recent past, the Financial Products Subledger (FPSL), SAP's central subledger solution, has been the most prominent example. In 2019 alone, a very high number of licenses were signed, which far exceeded expectations. Originally developed as a banking solution, the software, following an industry-specific extension, has also been very well received in the insurance sector. Industry experts consider the solution to be the market-leading option for covering the demanding regulations of IFRS 17. After many European insurance groups have opted for the solution in recent months, there is now also great demand in North America and Asia. In addition to the functional coverage, the integration into SAP S/4HANA is a decisive advantage here. Especially in North America, this argument is of great interest to many insurance and banking customers.
SAP Profitability and Performance Management
The SAP Profitability and Performance Management (PaPM) solution is also making big headlines internationally. PaPM has its origins in the FS area (formerly: FS-PER) and is now sold cross-industry. It is a universally applicable tool based on SAP HANA and enables, for example, high-performance cost and revenue allocation. Customers appreciate the fast implementation time, which can be less than a year depending on the application area.
Uniform data platform for banks and insurance companies
Almost traditionally, the focus and thus also the customer interest in SAP products is in the area of finance. SAP's strategic approach of becoming stronger in the area of data management in addition to finance is clearly noticeable. Nevertheless, the market successes are still smaller than in the traditional areas. The basic idea of a uniform data platform for banks and insurance companies meets the needs of many customers. Especially the integration with specialized market leaders of analytical solutions such as OneSumX (OSX) by Wolters Kluwer based on central data storage in SAP HANA is a decisive advantage over other data management solutions on the market. Large data management projects tend to be ambitious projects that need to be well planned. For this reason, many international customers are currently in evaluation projects regarding this advanced architecture.
In general, it can be said that SAP is generating strong demand, particularly in Europe and North America. However, there is also increased interest in the above-mentioned products in Asia. Due to the political and economic difficulties, the markets in Africa and Latin America have recently been declining. The year 2020 will be an exciting one for SAP and its partner companies. We will see whether we succeed in getting customers excited about major transformations or whether the focus remains on smaller add-on solutions.