SAP Fioneer Accelerates Innovation with okadis Consulting Acquisition
SAP Fioneer has recently acquired a majority stake in the Frankfurt-based consulting and software firm okadis Consulting GmbH, underscoring the company’s commitment to innovation in the financial services industry.
In order to assist organisations in the financial services sector in meeting their requirements for speed, scalability, and cost-efficiency, SAP Fioneer is focusing on digital business innovation, cloud technology, and solutions that cover the entire banking and insurance process from the beginning to end. Co-owned by SAP and entrepreneurial investor Dediq, the company has offices and operations worldwide, with a significant presence in Europe, North and Latin America, and the Asia-Pacific region.
This month, it has been announced that SAP Fioneer acquired a majority stake in okadis Consulting GmbH. Building on an already successful partnership with the German enterprise software giant, okadis Consulting GmbH will contribute to SAP Fioneer its vast knowledge and experience in analytical banking, regulatory reporting, and financial accounting within the financial services sector in Germany.
The latest announcement comes after SAP Fioneer’s acquisition of another Germany-based consulting and software development company Hedwell in November 2021. The integration of Hedwell’s capabilities and expertise throughout the SAP Fioneer solution and services portfolio is aimed at expediting customers’ business transformation while also strengthening SAP Fioneer’s position in the financial services sector.
According to SAP Fioneer Chief Executive Officer Dirk Kruse, the acquisition of okadis Consulting GmbH is highly strategic in nature and conveys a positive message to the market, underscoring the company’s commitment to continuously innovating and expanding its solutions portfolio. He added:
“The okadis team brings deep expertise in the areas of financial accounting, regulatory reporting, and analytical banking within the German financial services industry along with longstanding experience of our products. Our goal is to respond to the market’s need for innovation in areas such as Environmental Social and Governance (ESG) reporting, by accelerating the development of new products and solutions.”
SAP Fioneer, okadis Co-Innovate Solutions for the Financial Services Sector
okadis Consulting GmbH has been providing SAP consulting services and solutions to organisations that use SAP’s financial software and business applications since 2003. With the recent acquisition from SAP Fioneer, okadis Consulting’s team of highly skilled employees will be able to innovate and further specialise in the SAP company’s product portfolio.
As a partner in the SAP PartnerEdge program, okadis Consulting GmbH is empowered to develop, market, and sell solutions and software applications in addition to industry-leading tech platforms provided by SAP. In 2019, okadis Consulting GmbH joined SAP and BearingPoint RegTech in creating a solution for the SAP Financial Services Data Management (SAP FSDM) data model integration with Abacus360 Banking for regulatory reporting. Berlin Hyp was selected as a pilot customer for the solution, which was then leveraged by other banks as a result of the joint project.
Following the establishment of okadis Consulting more than two decades ago, Björn Jonas, Managing Director at okadis Consulting GmbH, believes that the acquisition represents an “exciting strategic step” for customers, employees, and the business as a whole. He further shared:
“Being part of SAP Fioneer, our customers will benefit from deeper market expertise, access to a wider portfolio of products, and innovative solutions which we’ll develop with our new colleagues. We look forward to the next chapter of continuing to deliver the first-class service and solutions that our customers expect from us.”
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