SNP software confirmed as suitable for ERP transformations in compliance with good accounting principles

Issued by Julia Tew Marketing & Communications for Schneider-Neureither & Partner
Johannesburg, 26 Sep 2012

Adapting SAP systems to changing market conditions such that the changes are complete, correct and properly documented in accordance with generally accepted accounting principles is a complex task. The listed SNP AG has met this challenge by developing its SNP Transformation Backbone software platform based on the experience it has gained in 1 500 SAP transformation projects. The PricewaterhouseCoopers (PwC) accounting company has now tested the design and functioning on which the software is based, and written a report.

Ever tougher competition is forcing companies to adapt their structures to new market conditions more often and within shorter times. Merging or splitting up business units, harmonising the IT landscape or implementing upgrades are the order of the day in virtually all companies. These changes must comply with generally accepted accounting principles and, depending on the type and extent of the applications used, also with additional regulatory and voluntary compliance requirements.

The objective of the PwC audit, completed in accordance with international standards, was to test the design and functions on which SNP Transformation Backbone is based. The primary focus was on the extent to which the software is suitable for making complete and correct changes to SAP systems that are also properly documented.

The criteria used for testing were defined based on the recommendations of the Institute of German Auditors (Institut der Wirtschaftspr"ufer in Deutschland e.V.) for account rendering given in the paper "Generally Accepted Principles of Accounting where Information Technology is Used" (IDW RS FAIT 1) and also in the IDW project standard titled "Project Accompanying Auditing when Information Technology is Used" (IDW PS 850).

"This audit gives companies the assurance of being able to meet all compliance requirements when making structural changes, and they are also able to greatly increase the speed with which changes can be made," emphasises Dr Andreas Schneider-Neureither, CEO of SNP AG. The audit reflects the current state of the concept since the latest version, Release 12.4, of the SNP Transformation Backbone, which was tested.

SNP

SNP AG increases the speed with which companies can implement transformation, and supports them in adapting their IT landscapes more quickly and economically to changing market conditions. With its SNP Transformation Backbone, the software company has developed the world's first standard software solution for automated analysis and standardised implementation of changes in IT systems. The company, founded in 1994, has gained invaluable experience over the years with its software-related services for Business Landscape Transformation.

More than 200 employees in Europe, South Africa and the US achieved sales of EUR26.7 million in 2011. SNP AG, headquartered in Heidelberg, Germany, has been listed in the General Standard segment of the Frankfurt Stock Exchange since 2000.

For more information about SNP and SNP Transformation Backbone, visit www.snp-ag.com. To schedule an introductory presentation or enquire about pricing and specials, contact SNP ZA on (+27) 11 510 0510, (+27) 83 650 6699 or e-mail geoff.earnshaw@snp-ag.com.

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