WALLDORF, Germany, June 7, 2012 /PRNewswire/ -- SAP AG (NYSE: SAP) today announced it has been named market share leader in IDC's "Worldwide Financial Performance, Strategy Management, and GRC Applications 2011 Vendor Shares" report. The announcement was made at the Financials 2012 and GRC 2012 conferences, being held in Milan, Italy, June 6-8.
SAP leads the financial performance, strategy management (FPSM) and governance, risk and compliance (GRC) applications market with combined 2011 revenues of US$778.4 million, and is ranked the joint leader with a 26.1 percent market share. With almost 50 percent greater growth than the overall market, SAP's market share increased the most of the top three vendors surveyed from 2010 to 2011.
IDC considers SAP's marketing, expansion in product functionality and the extension of FPSM into cross-functional GRC to be key drivers of its growth. Additionally, IDC recognizes that SAP innovations in enterprise mobility and in-memory technology have been extended to the FPSM market, with the SAP HANA® platform positioned as a key growth accelerator. As a result, finance users have been able to develop more accurate forecasts and benefit from improved performance.(1)
According to IDC, the FPSM and GRC applications market consists of cross-industry applications that primarily measure, analyze and optimize financial performance management and related GRC processes using prepackaged applications. New this year is the inclusion of financial-related GRC, as well as cross-functional GRC applications in IDC's coverage of the FPSM market.(1)
"We believe that IDC's recognition of our leadership in the FPSM and GRC applications market underscores the strength of our analytics portfolio, our vision, our execution against our road map and the success of our customers," said Bryan Katis, group vice president and general manager, EPM Solutions Management, SAP. "The 10.0 releases of our enterprise performance management and GRC solutions are great examples of how we are working to deliver solutions that help individuals, teams and entire business networks unlock valuable knowledge. Unlike other vendors, SAP offers an analytics portfolio that delivers all the critical functionality — including EPM and GRC solutions, which are required to help customers truly revolutionize the decision-making process."