October 09, 2006
SAP and SWIFT to Drive Simplicity and Insight in Corporate Banking
Collaboration on Corporate-to-Bank Connectivity to Enable Seamless Payment Processing.
Integration of mySAP(TM) ERP and SWIFTNet to Create Single Connection for Multiple Corporate Accounts to Lower TCO and Improve Financial Insight.
WALLDORF, Germany, Oct. 9 -- SAP AG (NYSE:SAP) and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) today announced plans to help alleviate the complexity and cost incurred by companies worldwide in managing a multitude of separate communication channels for each bank relationship. SAP and SWIFT have joined forces to introduce the SAP(R) Integration Package for SWIFT -- a standardized software solution that will be designed to link SAP ERP solutions directly to SWIFTNet, the IP-based messaging platform connecting nearly 8,000 financial institutions in 206 countries and territories. The announcement was made at Sibos, the world's premier financial services event, being held in Sydney, Australia, October 9 - 13.
"With SAP Integration Package for SWIFT, SAP and SWIFT are making it easier and more cost-efficient for corporate clients to exchange payment, cash management and treasury information with their banks," said Johan Kestens, head of Marketing and member of the Executive Committee of SWIFT. "Banks and corporates can now enjoy the security and reliability of SWIFT, leverage SWIFTStandards for easier processing and integrate with SAP ERP systems. It is a win-win situation for everybody."
SAP is the world's leading provider of business software. Today, more than 34,600 customers in more than 120 countries run SAP(R) applications-from distinct solutions addressing the needs of small and midsize enterprises to suite offerings for global organizations.