SAP Reveals a Major Software Overhaul
SAP, the largest software company of Europe has launched a very high-stake services in about two decades, in a bid to revamp its core software line. It aims to persuade its corporate multinational customers that the new software can run their most important applications to foretell business conditions.
Accounting as it is known is a time consuming and tedious process and for most businesses, accounting needs a detailed preparation which is commonly known as quarterly closing. The process involves synchronising the company's financial data to generate a consolidated snapshot in time. This at times it takes days or weeks to prepare the ultimate results.
The new approach adopted by SAP that has been under development for the last four years and have been used already for thousands of customers, merges its 'in-memory database which is 'super-fast' with the business analysis tools. This allows the planners of the company to glance at the tangible financial transactions and generate financial reports for the current time period or to forecast prospective business conditions.
Looking at the changes how the companies could be now run, George Lawrie, a Forrester analyst said "It's about managing a business in detail rather than in the aggregate. That means looking through the windshield rather than the rear-view mirror."
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