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SAP SE Revamps Klarna's Business Process with Smart AFI

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German software company, SAP SE (SAP - Free Report) , announced that Europe’s payment provider firm – Klarna – has gone live with smart accounting for financial instruments (smart AFI). It is a new functionality derived from the latest SAP Bank Analyzer set of applications, 9.0 release.

Smart AFI is essentially a subledger that integrates into the company's accounting documentation chain. It is based on the SAP Bank Analyzer 9.0 and has been developed and optimized for SAP HANA.

The subledger is perfect for multinational companies, as it has been designed to handle multiple GAAP policies. The smart AFI system streamlines accounting processes, reduces data volume and boosts the speed of business processes. This radically brings down implementation times and cost.

Klarna is one of Europe’s leading payment providers for online stores and smart AFI is empowering it to run a fully-compliant accounting solution for its business,  per International Financial Reporting Standards (IFRS) and U.S. GAAP standards. With smart AFI, Klarna is creating a strong foundation for a centralized accounting, reporting and compliance practice.

Further, smart AFI is also lending Klarna a competitive edge, as its centralized subledger solution provides increased visibility across business lines, quick expansion into new regions and differentiated product offerings.

Demonstrating that up-leveling market and product growth does not have to be a multi-year and laborious process, SAP managed to implement the solution (including configuration of accounting rules, data integration and a complete setup of the SAP HANA database environment) in just three months, with zero lag time in operations.

SAP AG ADR Price and Consensus

SAP  HANA  Cloud  Platform and its partners have been gaining rapid popularity, assisting clients extend their functionalities, build  new  applications  and  integrate  across  cloud  and  on-premise platforms. This has been fuelling growth. The company constantly upgrades its existing products and launches fresh ones to gain customers, which drives growth and expands the company’s footprint across newer markets.

SAP currently has a Zacks Rank #3 (Hold).

Stocks to Consider

Some better-ranked stocks in the same space include Adobe Systems Incorporated (ADBE - Free Report) , Aspen Technology, Inc. (AZPN - Free Report) and Callidus Software Inc. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Adobe Systems is a leading player in the computer software space. The company has a striking earnings surprise history over the trailing four quarters, having beaten estimates all through, for an average beat of 5.6%.

Aspen Technology deals in process optimization software and services. It boasts a remarkable average positive surprise of 24.3% over the trailing four quarters, beating estimates comfortably in each of them.

Callidus Software is a provider of Enterprise Incentive Management software, with a modest earnings history. It has beaten estimates twice in the trailing four quarters, however still managed to garner an average positive surprise of 14.8%.

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