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Just when you thought your financial closes couldn't get any faster...

by Graceanne Bowe

December 21, 2010

If December 31 marks the end of your company's fiscal year, no doubt you are in the throes of one of the most important--and often complicated--financial activities--the year-end close.    And if you wish there was a way to make this process smoother, SAP just made an announcement that could prove to be a welcome holiday gift that will benefit financial teams in 2011.

According to Thomas Net News, by year end, SAP is poised to acquire disclosure management solutions from its technology partner cundus AG. In addition to accelerating the timeline and reducing the cost of closes, the new solution will integrate XBRL capabilities into the process so that companies can more easily comply with IFRS, U.S. SEC, and other regulatory agency reporting requirements.  cundus AG will continue to operate as an independent consulting organization.

For more details and to hear what SAP executive VP Sanjay Poonen has to say about this acquisition, visit





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