WALLDORF, Germany, April 25, 2013 /PRNewswire/ -- SAP AG (NYSE: SAP) today announced that it has been positioned by Forrester Research Inc. as a Global Power Seller in its report, "Global Banking Platform Deals in 2012." In the evaluation, Forrester recognized 39 new named deals closed by SAP in seven regions, ranking SAP as a top vendor for new named deals and global power seller.
"Over the past year, SAP has significantly expanded its global footprint by enabling banking customers to innovate and streamline their core banking processes," said Falk Rieker, global head, Industry Business Unit Banking, SAP. "Intuitive solutions from SAP are supported by industry-specific knowledge and best practices in banking. The results of the Forrester report reflect the substantial investment we have made in this industry to help financial institutions around the world become more customer-centric across all channels, reduce cost and complexity and more easily manage regulatory and risk compliance."
Forrester evaluated nearly 1,900 banking platform deals submitted by 29 vendors against several criteria reflecting the firm's guidelines, including banking platform functionality, banking-specific functionality, new customers and new consideration of extended business and named wins. The top 10 vendors grew 24 percent for net new names in 2012. According to the report, "Six of the top 10 vendors grew their counted new named deals; SAP turned in the strongest performance, with deal growth in the 250 percent range. Even removing pure Sybase deals leaves SAP with triple-digit growth rates."
Financial services at SAP is growing rapidly, with a customer base of more than 5,700 financial customers, making it a valuable asset for collaboration and co-innovation. A major element of SAP's approach is both understanding the specifics of the industry and addressing the needs of different industry segments.