As a premium partner for SAP software solutions in the Financial Services (FS) area, 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
First and foremost in the recent past is SAP’s central subledger solution, the Financial Products Subledger (FPSL). In 2019 alone, a very high number of licenses were signed and sealed, which far exceeded expectations. Originally developed as a banking solution, the software has also found great favour in the insurance environment following an industry-specific expansion. 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 strong demand in North America and Asia. In addition to functional coverage, integration with SAP S/4HANA is a key advantage here. Especially in North America, this argument is of great interest to many insurance and also 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 FS (formerly: FS-PER) but is now sold cross industry. It is a universally applicable tool based on SAP HANA and enables, for example, a highly performant “Cost and Revenue Allocation”. Customers particularly appreciate the fast implementation time, which can be less than a year, depending on the area of application.
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 from Wolters Kluwer based on central data storage in SAP HANA is a decisive advantage over other data management solutions in the market. Big data management projects tend to be ambitious undertakings that need to be well planned. For this reason, many international customers are in evaluation projects regarding this advanced architecture.
In general, it can be said that SAP is generating strong demand, especially in Europe and North America. However, there is also increased interest in Asia for the products mentioned above. Due to the political and economic difficulties, the markets in Africa and Latin America have recently been in decline. The year 2020 will be an exciting one for SAP and its partner companies. It remains to be seen whether the company will succeed in getting customers excited about major transformations or whether the focus will remain on smaller add-on solutions.
Founder & Managing Director of ADWEKO