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Integration of Fiserv and SAP Solutions Helps Businesses Improve Working Capital and Accelerate Digital Transformation

February 10, 2020 GMT

BROOKFIELD, Wis.--(BUSINESS WIRE)--Feb 10, 2020--

Business-to-business companies around the world have the opportunity to improve working capital, increase operating efficiency, and continue their digital transformation through an integration of technology from Fiserv, Inc. (NASDAQ: FISV) and SAP ® SE (NYSE: SAP).

This combination makes it simple for B2B firms to offer digital payment methods to their customers by bringing together two cloud-based solutions: SnapPay ®, an enterprise payments application from First Data, now Fiserv, and SAP digital payments add-on.

Many Fiserv clients are already reaping the benefits from this integration. Brewster Home Fashions, one of the largest global producers and distributors of home decor, uses SnapPay and has successfully migrated to SAP S/4HANA ® and SAP ERP with SAP digital payments add-on.

“The real-time integration of SnapPay with the SAP solution is enhancing our process efficiency, reducing our overall cost of doing business, and simplifying payment card industry compliance,” said Daoud Ali, Executive Director of IT at Brewster Home Fashions. “The solution is flexible, efficient and has given our customer service team a new sense of empowerment.”

SAP digital payments add-on helps enable credit card and other digital payment methods subject to the Payment Card Industry Data Security Standard (PCI DSS). Companies running any variant of SAP order or sale-to-cash processes (B2B, B2C, point-of-sale, web) can integrate to certified payment service solutions, including SnapPay, with flexible access to multiple digital payment methods.

“The SnapPay integration with SAP digital payments add-on helps meet the unique needs of B2B and B2C customers,” said Dr. Oliver Kroneisen, vice president and head of Financial Operations Development at SAP. “Brewster Home Fashions exemplifies how our continued commitment benefits customers.”

A flagship Fiserv enterprise payments solution, SnapPay is built to serve the accounts receivable and accounts payable needs of large and mid-sized companies. Through integration with SAP ERP Central Component and SAP S/4HANA, SnapPay facilitates card, Automated Clearing House (ACH), and new digital payment methods. The solution also digitizes labor-intensive corporate treasury operations into a real-time, automated, and secure experience.

“Improving working capital is a top priority for most businesses,” said Suhas Gosavi, senior vice president, B2B Payments and eCommerce at Fiserv. “To meet that need we innovated on our existing SnapPay integration with SAP solutions to make it even easier for clients to access payment services, reduce days sales outstanding, and automate back-office processes.”

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

Additional Resources

About Fiserv

First Data is now Fiserv.

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover ® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500 ® Index and the FORTUNE ® 500 and is among FORTUNE World’s Most Admired Companies ®. Visit fiserv.com and follow on social media for more information and the latest company news.

SAP Forward-looking Statement

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements.

All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

SAP, SAP S/4HANA, and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

FISV-G

View source version on businesswire.com:https://www.businesswire.com/news/home/20200210005258/en/

CONTACT: Media Relations:

Chase Wallace

Director, Communications

Fiserv, Inc.

404-890-2132

chase.wallace@fiserv.com Additional Contact:

Ann Cave

Director, External Communications

Fiserv, Inc.

678-325-9435

ann.cave@fiserv.com

KEYWORD: WISCONSIN UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: SOFTWARE OTHER RETAIL BANKING DATA MANAGEMENT SMALL BUSINESS PROFESSIONAL SERVICES TECHNOLOGY RETAIL

SOURCE: Fiserv, Inc.

Copyright Business Wire 2020.

PUB: 02/10/2020 08:30 AM/DISC: 02/10/2020 08:30 AM

http://www.businesswire.com/news/home/20200210005258/en