SAP'S EXTERNAL FINANCIAL REPORTING

SAP External Financial Reporting

SAP's external financial reporting

History of SAP

SAP has a proud 40-year history that is founded on their mantra of innovation. Their success has come from their innovative culture. The company was founded in 1972 when five like-minded former IBM employees came together and created a company with the vision of providing clients with technological innovations. The company was called Systemanalyse und Programmentwicklung (SAP) which was German for System Analysis and Program Development. The company's vision was to provide standard application software for real-time processing of data. It was formed as a private partnership under the German Civil Code with the headquarters in Weinheim, Germany Mohapatra, 2009.

The company began with only one customer, Imperial Chemical Industries (ICI) and at the time, they had just nine employees. At the end of the first year, the company had generated DM 620,000 in revenue...
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