SAP AG and Hopkinton, Mass.-based EMC Corp. on Monday announced an expansion of their global strategic alliance, which includes a reseller relationship and joint sales and marketing activities, to serve financial services firms worldwide.
Under the agreement, SAP, which is based in Walldorf, Germany, will resell newly developed solutions – leveraging EMC Documentum enterprise content management, EMC Captiva intelligent enterprise capture and EMC Document Sciences customer communications management – beginning with the SAP Insurance Broker Statement Processing application by EMC.
The solution extension is planned to be available in the third quarter of 2010 and will be offered to the insurance industry. Additional solutions for the financial services industry are planned to be available in quick succession.
“As a result, financial services customers worldwide can accelerate their business processes, improve information sharing, reduce transaction costs and enhance compliance,” the firms said in a release.
Financial institutions are experienced in delivering automated, straight-through processing of data-intensive business processes. However, many real-world processes are content-intensive and require efficient, enterprise-class systems to automate document capture, content management and correspondence management, the firms said in a release. “Banks and insurers can further improve process efficiency, cost control and customer loyalty by integrating with other systems to collect existing structured and unstructured data, capturing paper-based content digitally and delivering a rich, highly personalized customer experience.”
"SAP has a long-standing commitment to help financial services customers transform their business and IT models," said Kevin Ichhpurani, a senior vice president of SAP AG. "Today's announcement with EMC allows us to deepen our focus on fulfilling financial services customer requirements by delivering a comprehensive range of solutions that contributes towards meeting the evolving needs of banks and insurers."
"Our mutual customers have expressed a need for enhanced integration between SAP applications and EMC's technologies for intelligent enterprise capture, enterprise content management, information governance and document output," said Mark Lewis, president of Information Intelligence Group, a division of EMC. "Together with SAP, we will develop new and innovative solutions to enable financial institutions to deliver unrivaled levels of service and agility while dramatically reducing operational costs and organizational risk."
EMC Corp. is a developer and provider of information infrastructure technology and solutions.
This story first appeared on Securities Industry News' web site
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