WALLDORF, Germany, July 10, 2018 /PRNewswire/ -- SAP SE
(NYSE: SAP) today announced the expansion of its strategic
partnership with Thomson Reuters to simplify converting
cross-border transaction prices into a single currency, no matter
where or when the transaction happens. The new SAP® Cloud
Platform–based application, called SAP Market Rates Management,
Thomson Reuters data option, offers out-of-the-box connectivity to
comprehensive pricing and reference data from the Thomson Reuters
Financial and Risk business and is available to SAP customers
worldwide.
The partnership makes it easier for chief financial officers,
treasurers and corporate finance teams to access pricing and
reference data to more accurately calculate foreign exchange
transactions. SAP Market Rates Management integrates foreign
exchange and money market data from Thomson Reuters for more
accurate pricing of any global transaction across SAP Cloud
Platform.
"This is a great example of the power of partnerships to make
life easier for businesses, by integrating our trusted data into
SAP's cloud-based software services," said Stuart Martin, Thomson Reuters managing director
of Risk Information and Learning Services. "At the press of a
button, any of SAP's global customers can now achieve
straight-through processing of foreign exchange calculations,
simplifying their operations and assisting in reducing risk through
a single source of comprehensive pricing and reference data."
Out-of-the-Box Efficiency
As cloud adoption
continues to rise, businesses increasingly opt for the efficiency
of out-of-the-box services over the cumbersome process of
developing interfaces with multiple providers. SAP and Thomson
Reuters are responding to this need with a nimble, cloud-based
solution. This can lower onboarding costs by reducing the need to
integrate multiple solutions and minimizes operational risks by
helping ensure consistency across the customer's business. SAP
customers can subscribe to the new service directly with SAP, with
integrated access to the Thomson Reuters data and usage-based
billing handled by SAP.
"Globalization and digital transformation are inextricably
tied," said Dr. Arif Esa, SAP
director of Treasury Management. "As businesses become more agile
in the cloud, their work can scale and transcend across borders,
increasing the need to accurately price foreign exchange
transactions. SAP Market Rates Management helps facilitate these
transactions seamlessly. Our partnership with Thomson Reuters
enables SAP customers to tap into a trusted source of market data
with ease and confidence."
Expanding the Partnership
The collaboration is the
latest expansion of the strategic partnership between SAP and
Thomson Reuters, which also has helped businesses better manage
their third-party compliance and risk challenges.
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public sector customers to operate profitably, adapt continuously,
and grow sustainably. For more information, visit www.sap.com.
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