IBERIABANK Improves Planning and Forecasting With Enterprise Performance Management Solution from SAP

WALLDORF, Germany, Aug. 24 /PRNewswire/ -- SAP AG (NYSE: SAP) today announced IBERIABANK uses its enterprise performance management (EPM) solutions to improve financial forecasting, reporting and budgeting processes, as well as support the company's rapid geographic expansion. Since implementation in 2004, the solutions have enabled IBERIABANK to analyze the profitability of individual bank branches, products and clients, and more readily meet balance sheet and liquidity requirements.

(Logo:  http://photos.prnewswire.com/prnh/20050310/SFTH009LOGO-a)

(Logo:  http://www.newscom.com/cgi-bin/prnh/20050310/SFTH009LOGO-a)

Over the past several years, IBERIABANK has grown from $2 billion to more than $10 billion in assets. Today, it relies on the SAP® BusinessObjects™ Planning and Consolidation application, version for the Microsoft platform, to support the accurate forecasting necessary for this growth, and to streamline its budget and financial reporting processes. The application has allowed IBERIABANK to eliminate the use of standalone spreadsheets, significantly cutting the time needed for forecasting and analysis and improving accuracy – even as reporting needs have grown. Though the bank's organizational structure has grown more complex, time spent on quarterly forecasting has been reduced by one-third and financial closing periods have been cut by three days. The company has also benefitted from the application's ease of use.

There are more than 125 IBERIABANK users of SAP BusinessObjects Planning and Consolidation – including the entire executive team and three different levels of managers – and the company plans to continue expanding its user-base. In the application, users create additional financial and product dimensions; include analyses of credit exposures and past-due accounts by individual market to help banks decide where they should deploy resources, pursue opportunities or allocate staff; and run specific reporting for loan officers in a fraction of the time. All in all, IBERIABANK has cut three days from its financial close cycle and reduced the forecasting process by four weeks.

For more information on SAP BusinessObjects EPM solutions, please click here. Follow SAP BusinessObjects on Twitter at @businessobjects and follow SAP on Twitter at @sapnews.

SOURCE SAP AG

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED