cundus AG

In the current economic conditions finance divisions of the companies have difficulties in connection with execution of international standards of the reporting (IFRS) and requirements for representation of financial and business information using the expanded language of the business reporting (extensible business reporting language, XBRL). In many organizations the majority of operations on closing of a financial period is still executed manually that leads to inaccuracy of data, risk of non-compliance with requirements and insufficient control. Besides, in such conditions joint work is complicated, and manual transactions need to be repeated during each reporting period. For the purpose of optimization of financial work arose and management of disclosure of information at the end of the period began to develop violently. The SAP company already felt active demand for similar products, and now acquisition of functionality on management of disclosure of information allows it to add one more important component to the solution portfolio for performance management of the enterprise.

The new solution on management of disclosure of information from SAP will allow to accelerate passing of the major of "the last mile" in the field of finance and will help the enterprises to reduce both risks of non-compliance with the legislation, and costs. The solution contains wide functionality of the XBRL language and supports electronic exchange of financial and business data according to set by the Securities Commission and to operations on the stock exchange of the USA and also other state bodies, tax administrations and banks, requirements for the majority of public documents which will come into force since the middle of 2011. Thanks to a possibility of joint work users can optimize, automate processes and execute them much quicker, than manually. The SAP company will advance a new solution in the market as a part of solutions on increase in enterprise performance of SAP BusinessObjects.

The new product will be on sale at additional expense and will enter the complete solution on closing of a financial period which is as much as possible integrated with the products Management of Finance and BusinessObjects though works also in open and heterogeneous environments from third-party producers. The solution for management of disclosure of information will help users to create difficult financial statements on the basis of data from different sources. Only it will allow them to collect and to consolidate the structured and other information, to analyze it and to create according to it reports at any time without work on closing of the period. The new feature supplements the updating of a set of solutions of SAP company on increase in enterprise performance of SAP BusinessObjects which came out earlier in the current year which is applied around the world and attracts both new, and regular customers of SAP.

In the course of buying solutions for management of disclosure of information of SAP also purchases certain customer relations and partners of cundus company and employs some of her employees. The cundus company will continue work as independent service provider of the strategic business analysis (BI) in Germany and Europe, including consulting services on the sold solutions for management of disclosure of information.