September 15, 2010

Enterprise software provider SAP AG on Tuesday unveiled ten new applications that comprise a new BusinessObjects portfolio aimed at enabling industry-specific analytics. Of the ten solutions, two are aimed specifically at the banking industry.

The banking solutions, Enterprise Risk Reporting for Banking and Planning and Consolidation for Banking can be quickly deployed to meet the risk management and business modeling needs specific to banking, says Peri Pierone, VP Industry Solutions Group, SAP.

"I think now we’re seeing far greater demand for more timely reporting," he adds.

The Enterprise Risk Reporting solution is aimed to help banks build a more comprehensive view of credit, operational and liquidity risk. The planning and consolidation solution supports budgeting, forecasting and long-range planning.

A goal for SAP in the release of the new solutions was to provide banks with ready-made software they might otherwise need to build themselves, says Andy Hirst, SAP senior diretor of Industry Marketing.

"In most cases banks are building these kinds of things from scratch. Our message is about rapid time to value, to have these solutions deployed in weeks or months versus years."

Pierone adds the timeframe to have one of the new solutions running is typically within eight weeks.