SAP acquires intellectual property rights for Disclosure Management Solutions from cundus AG
SAP AG and cundus AG today signed an agreement to transfer intellectual property rights for the following products from cundus to SAP:
- cundus (Financial) Statement Factory
- cundus informationCollector / IFRS-Notes
The sale of these products to SAP, the world’s largest business software company, is a testament to the success and innovative power of cundus in the area of business intelligence and enterprise performance management. It also harbors great advantages for our customers. SAP’s global reach enables a greater market penetration of these solutions and SAP’s strength and competence in development means that customers can look forward to ongoing enhancements to the already extensive functionality of cundus software solutions.
After the close of the transaction, cundus will continue to work together with SAP as a partner and will offer consulting for the optimization and implementation of SAP’s new disclosure management solutions in Germany, Switzerland, Austria, the Netherlands and the United Kingdom. We will, of course, also support our customers in implementing the solutions in global environments. For more information about cundus Disclosure Management consulting click here. Our customers confirm that our software solutions expedite the closing and reporting process, improve data quality, minimize risks and errors, and reduce the workload.
cundus Statement Factory supports the entire process of updating data and workflow-based creation of quarterly, annual, progress and annex reports; management presentations as well as automated creation of XBRL reports for tax authorities, the SEC in the US and other regulators. XBRL reports can be created and validated at the press of a button for diverse organizational units in the same instance, saving costs and time.
cundus informationCollector enables the entry, collection, validation and reporting of unstructured quantitative and qualitative information (figures and comments of unlimited length) along the entire corporate hierarchy. The business package integrated here, cundus IFRS-Notes, supports reporting of attachments by subsidiaries according to IFRS. The cundus informationCollector also accelerates corporate social responsibility reporting from organizational units, ensures consistency of processes, accuracy of data and helps reduce time investment.
| Dr. Maciej Piechocki was elected into the executive board of XBRL Germany »