News Article | May 16, 2017
TM Forum's Digital Maturity Model is the only industry-agreed model, having been endorsed by leading communications service providers including BT, China Mobile, China Telecom, China Unicom, Orange, PCCW Global and Vodafone NICE, FRANCE--(Marketwired - May 16, 2017) - TM FORUM LIVE! -TM Forum, the industry association driving digital transformation through collaboration, today announced the launch of its Digital Maturity Model (DMM) - a new tool that allows communications service providers (CSPs) to assess their digital maturity and plan their digital transformation across their entire organization. The model has already been endorsed by leading CSPs including BT, China Mobile, China Telecom, China Unicom, Orange, PCCW Global and Vodafone as well as management consultancies and suppliers including Amdocs, BearingPoint, Deloitte, Detecon, Huawei, Tata Consultancy Services and The GC Index. As core services become commoditized, CSPs are desperately searching for new digital services and revenues in order to grow. To realize the opportunity, CSPs must completely transform traditional business and operating models, cultures and infrastructures. Without a coherent view of their destination, starting point and pathway, building and executing a successful digital transformation strategy is challenging, time consuming and prone to failure. In fact, in a recent survey conducted by TM Forum, 54 percent of CSPs revealed that their previous attempts at transformation had been unsuccessful, highlighting the urgent need for a robust methodology to help leaders guide and manage change on an enterprise-wide basis. In collaboration with the world's leading CSPs, management consultancies and suppliers, TM Forum identified the need for an industry-agreed Digital Maturity Model, metrics and methodology to meet this challenge. By bringing together and crowdsourcing expertise and models from across the global communications industry, TM Forum has created a 'living' maturity model and set of metrics that will evolve with the industry and help companies measure their true digital maturity. "In order to survive and thrive in the digital market, service providers are embarking on complex and demanding digital transformation journeys," said Nik Willetts, CEO, TM Forum. "To be successful, these transformation programs require much more than embracing new technologies or ways to interact with our customers -- they demand strong leadership and holistic transformation of the entire business, fundamentally redefining how the business operates. The launch of the Digital Maturity Model is an example of our transformation mantra and showcases how TM Forum is taking our members on the journey, providing the tools, guidance and expertise to drive successful digital transformation. TM Forum would like to recognize all of the members that have contributed, especially Deloitte for leading the collaboration and project management and Huawei for initiating the concept and resourcing the project." TM Forum's DMM considers maturity across five key dimensions, each containing an extensive set of sub-dimensions, questions and metrics to assess digital maturity across the business. Accessed through an easy-to-use App, TM Forum members can assess their digital maturity across every department and rapidly identify areas for action unique to their businesses. The dimensions and definitions for the model are: By asking stakeholders across an entire organization to assess the company's maturity in each of these areas, CSPs can identify where improvement is needed and where investment priorities lie. The model has the flexibility to account for differences in CSPs' visions, strategies and business imperatives, and can be applied to help develop a roadmap to guide their digital transformation journey. "Successful digital transformation requires the direct involvement and support of the CEO for a process that's going to impact the whole organization," said David Pleasance, Chairman, TM Forum. "Through the exceptional collaborative work of many TM Forum members, the Digital Maturity Model allows service providers to assess all dimensions and departments of their organization through a structured approach that is unique to them. Without industry-agreed best practices and guidelines, real transformation becomes all the more challenging." Additional details about TM Forum's Digital Maturity model can be found at www.tmforum.org/dmm. A list of 15 industry endorsements for the model - from CSPs, management consultancies and suppliers - can also be viewed on the TM Forum website. About TM Forum TM Forum is an association of over 850 member companies generating US$2 trillion in revenue and serving five billion customers across 180 countries. We drive collaboration and collective problem-solving to maximize the business success of communication and digital service providers and their ecosystem of suppliers around the world. Today, our focus is on supporting members as they navigate their unique digital transformation journeys, providing practical and proven assets and tools to accelerate execution and platforms to facilitate collaborative problem solving and innovation. Learn more at www.tmforum.org.
News Article | May 18, 2017
AMSTERDAM & ZURICH--(BUSINESS WIRE)--Management and technology consultancy BearingPoint, which ranks among the leading providers of Risk and Regulatory Technology (RiskTech/RegTech), announced today that the first institutions in early adopter countries successfully submitted their initial reporting under the Common Reporting Standard (CRS) with BearingPoint’s tax reporting solution FiTAX. The Common Reporting Standard was developed by the Organization for Economic Co-operation and Development (OECD) to maximize efficiency and fight tax avoidance. Over 100 countries worldwide have agreed to fulfill these reporting requirements by September 2018. The initial reporting for the first 53 countries, the early adopters, began in the first quarter of 2017. BearingPoint’s FiTAX-CRS module is dedicated to the Automatic Exchange of Information (AEoI) and reporting under CRS. It enables financial institutions around the globe to comply with these new reporting requirements. Given the complexity of the CRS reporting regime, the FiTAX-CRS module had already been delivered to clients in Q3/Q4 2016 in anticipation that incorrect or late report submissions could result in penalties. By receiving this module well in advance of the filing deadline, FiTAX users had a longer time period to sufficiently work with new processes and use the new module to properly prepare their reports. “We are very proud that the first reports have been successfully submitted and that our clients were able to meet their reporting requirements under CRS and the Automatic Exchange of Information. We are now seeing rising interest in tax reporting solutions from many large financial institutions in the Americas as well as in Asia. Our experiences and lessons learned from the early adopter countries are especially valuable for the Asian-based institutions because many of them are in the second wave countries with first reporting due in 2018. These clients will be benefitting from the operation of FiTAX in European markets,” says Ronald Frey, Partner at BearingPoint. BearingPoint’s tax reporting solution FiTAX has proven to be one of the most efficient and flexible solutions in the market. Created in 2001, FiTAX enables financial institutions to automate the regulatory reporting processes and to report for many countries from a single and centralized platform for QI, EUSD, FATCA, UK FATCA and CRS. FiTAX covers more than 85 countries for CRS reporting to local tax authorities, and as part of the continuous improvement of operability, it offers the possibility to directly upload report files to the tax authorities’ portals. A new web-client architecture (SOA ready) was already made available in September 2016. Several large international financial institutions have chosen FiTAX as their global QI, CRS and FATCA reporting software solution, and each year more than 2,500 financial institutions report with FiTAX. For more information about BearingPoint’s RegTech product line, please visit: http://www.reg.tech. BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three units: Consulting, Solutions and Ventures. Consulting covers the advisory business; Solutions provides the tools for successful digital transformation, regulatory technology and advanced analytics; Ventures drives the financing and development of start-ups. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success. For more information, please visit:
News Article | May 16, 2017
Strong growth and momentum of Open API program continues with 28 leading communications service providers, technology solution providers and systems integrators now endorsing the Open API suite NICE, FRANCE--(Marketwired - May 16, 2017) - TM FORUM LIVE! - TM Forum, the industry association driving digital business transformation of the communications industry, today marked the one-year anniversary of the launch of the Open API Manifesto by announcing significant growth and momentum of its Open API program along with the launch of its Open API Training & Career Certification program and the beta launch of its Open API Conformance Certification program. TM Forum Open APIs are now being used to enable a range of business scenarios, including internally enabling communications service providers (CSPs) to transform their IT and operational agility and become more customer-centric, while externally delivering a practical approach to co-creation and seamless end-to-end management of complex digital services -- including SDN and NFV. As part of a broader digital transformation agenda, TM Forum's Open APIs enable a wide range of revenue growth opportunities for CSPs and their partners and suppliers. The APIs are bringing greater interoperability both within the communications industry as well as across new sectors including eHealth, Smart Cities and Industrial Manufacturing by providing the bridge to facilitate partnering across ecosystems, a key strategy for growth by many CSPs and on full display this week at TM Forum Live! 2017. "We're delighted by the momentum of the Open API program over the past year and rapid commercial adoption of the APIs," said Nik Willetts, CEO, TM Forum. "Open APIs are an essential element of digital transformation and enabling rapid growth, and the world's leading service providers have deployed our Open APIs in over a dozen markets. Strong member collaboration has driven this critical work, and our profound thanks go out to the individuals and companies who have contributed." Open API Program Growth & Momentum TM Forum's Open API Program was officially launched in May 2016, with nine of the world's largest CSPs endorsing a suite of 18 REST-based APIs. In October 2016, eight leading technology solution providers signed on to support the Forum's Open APIs in their products and services. Since its official launch one year ago, the program has grown significantly: "TM Forum's Open API program presents a significant step forward in enabling digitally connected ecosystems across the industry," said Vincent Seet, Head of Enterprise Architecture, Globe Telecom. "We at Globe are delighted to sign the Open API Manifesto demonstrating our commitment to the program and the strategic alignment of this to our business and IT strategy." Open API Training & Career Certification Program In light of the growth and momentum of TM Forum's Open API Program, and based on industry demand, TM Forum is launching its Open API Training & Career Certification program. This program encompasses expert-led training courses including a fundamentals course and a more detailed practitioners' course. The fundamentals course introduces the key concepts of Open APIs and provides examples of how they are used in real-world scenarios, how they are structured and how they relate to TM Forum Frameworx so that they can be readily adopted and deployed. The practitioners' course provides students with the opportunity to practice using and extending TM Forum Open API patterns as well as techniques used when implementing the APIs. Additionally, there are four new career certifications as a result of these new training courses: By combining the new Open API training courses with a rich set of existing training and certification offerings, TM Forum is taking a leading role in educating its members and the industry on innovative new approaches to accelerating digital transformation by offering all of the critical enabling technologies and know-how for moving toward agile, modularized platform-based architectures. Open API Conformance Certification Program With 31 Open API specifications, TM Forum is also launching a new Open API Conformance Certification program which is currently in beta trial. The conformance test kits to enable this capability have been collaboratively created by TM Forum members including Amdocs, BT, Etiya, Huawei, Infonova/BearingPoint, Infosys, Telefónica and Vodafone. A new self-validation portal where TM Forum members can access the conformance test kits enables users to create an efficient report clearly outlining where alignment to the TM Forum Open API conformance specification exists and where improvements are required. Companies can share details of their conformance self-validation in a crowdsourced Open API conformance table. On the launch of TM Forum's new Open API programs, Joann O'Brien, Vice President of APIs and Ecosystems at TM Forum, said, "Enterprise-wide business agility is greatly enhanced via modular platform-based architectures enabled by Open APIs. Our new programs provide the pathway and critical skills required for our members to rapidly develop, integrate and manage profitable new digital services in complex multi-stakeholder environments." For more information and to collaborate in TM Forum's Open API program, visit www.tmforum.org/open-apis. Get in on all of the exciting TM Forum Live! news and buzz by visiting and bookmarking www.tmforumlive.org for real-time conference updates. The action can also be followed on TM Forum Inform and Twitter using hashtag #TMFLive. About TM Forum TM Forum is an association of over 850 member companies generating US$2 trillion in revenue and serving five billion customers across 180 countries. We drive collaboration and collective problem-solving to maximize the business success of communication and digital service providers and their ecosystem of suppliers around the world. Today, our focus is on supporting members as they navigate their unique digital transformation journeys, providing practical and proven assets and tools to accelerate execution and platforms to facilitate collaborative problem solving and innovation. Learn more at www.tmforum.org.
News Article | May 24, 2017
AMSTERDAM & NICE, France--(BUSINESS WIRE)--Announced to a packed audience at TM Forum Live! 2017, BearingPoint and its associated partners, Agile Fractal Grid Inc. and BT were named “Smart City Innovator of the Year” for their “Agile Fractal Grid Smart Cities” program. BearingPoint also won two Innovation Catalyst Awards, and Andreas Polz, Senior Manager at BearingPoint and CTO for Infonova R6, was honored as a TM Forum Distinguished Fellow. Angus Ward, Partner at BearingPoint, said: “We are delighted that BearingPoint won four prestigious awards at TM Forum this year. This is a record! The awards reflect our focus on enabling our clients to navigate the open digital economy.” The TM Forum Digital Excellence Awards recognize World leaders in successfully driving innovative breakthroughs with tangible impacts on business, industry and society. The Agile Fractal Grid is a shared infrastructure program for migrating electric power distribution to decentralized control to improve reliability, resiliency, and security of electric power. Through partnering with rural electric cooperatives, the program aims to cover a large part of the US for decentralized power and enable communications services solving rural connectivity challenges. The Agile Fractal Grid’s “platform of platforms” enables a multitude of services and new business models for both consumers and businesses within a multi-sided ecosystem. During the event, seven winning projects were selected from a record-breaking 32 Catalysts showcased, with BearingPoint participating in three and winning two awards. Catalysts are proof-of-concept projects developed collaboratively by TM Forum members. These projects bring together large and small companies to create innovative solutions to common challenges by leveraging key TM Forum best practices, tools and standards. Many innovative and thought-provoking proof-of-concept projects turned commercial solutions have been created by the Catalyst program. Championed by Orange and NTT, and participants ESRI, BearingPoint, Amdocs and Symantec, the Catalyst “Connected Citizens: a Green, Clean, Smart City” won “Outstanding Contribution to TM Forum Assets”. The Connected Citizens platform delivers the digital capability for multi-tenant, IoT enabled, secured smart services in today’s dynamic cities. Third party players can develop digital services on top of standard APIs (Application Programming Interface) to deliver cleaner, safer, more adaptive and efficient environments for inhabitants and visitors alike. Championed by Milton Keynes, Dublin City, Agile Fractal Grid and participants Cloudsoft, BearingPoint, BT and EXFO, the Catalyst “Smart City on the Edge” won “Outstanding Performance in the Catalyst Program”. This Catalyst applies Edge and Fog Computing principles on Smart City Data Hubs to improve efficiency of City operations by situational, decentralized decision-making and pushing intelligence from central data hub to local loop of programmable edge devices (e.g., IoT gateways and sensors). Another highlight of the event saw BearingPoint’s Andreas Polz honored as a TM Forum Distinguished Fellow, joining the elite ranks of only 31 individuals who have helped shape the direction of TM Forum’s collaborative work to accelerate transformation in the communications industry over the past 28 years. TM Forum’s Distinguished Fellow Award recognizes individuals who have made a valuable contribution to TM Forum and the communications industry. Andreas is a Senior Manager at BearingPoint and CTO for Infonova R6, a global leader in digital ecosystem management and Business Support Systems (BSS). He joined BearingPoint in 2000 to support multiple telecom projects on three continents for many clients. He initiated the effort to create the Infonova R6 product from experiences gained in these projects and taking it to cross-industry opportunities. Andreas is specialized in value fabric based digital ecosystem platforms. Working with Standards Development Organizations (SDOs), committed to innovation in technology and business models alike, he is also co-Lead of the TM Forum Open API program. Before joining BearingPoint, Andreas spent a decade in academic research and with Siemens. BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three units: Consulting, Solutions and Ventures. Consulting covers the advisory business; Solutions provides the tools for successful digital transformation, regulatory technology and advanced analytics; Ventures drives the financing and development of start-ups. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success. For more information, please visit:
News Article | May 2, 2017
AMSTERDAM--(BUSINESS WIRE)--Management and technology consultancy BearingPoint today announced the appointment of Patrick Palmgren as its new Chief Development Officer (CDO). Mr. Palmgren succeeds Per Jacobsson, who retired at the end of April. Mr. Palmgren fully takes over the CDO role after a transition period that began in January 2017. He has been a Partner at BearingPoint since 2005 and has extensive experience in management consulting spanning more than two decades. In his role as CDO, he leads the firm’s strategic development process supporting BearingPoint’s market positioning, portfolio management, strategic bets and the management of all M&A and Venture activities. Mr. Palmgren also acts as the regional leader of the firm’s Nordic Practice – Denmark, Finland, Norway, and Sweden. He also often serves as an expert speaker in the areas of business and digital transformation. “Patrick has the right skill set to be our Chief Development Officer, with extensive client experience in strategy development, private equity and transactions,” said Peter Mockler, Managing Partner of BearingPoint. “He has an outstanding track record in the industry and has been an exceptional leader at our firm for over a decade. I look forward to working closely with him in reaching our revenue ambition of €1 billion by 2020. I also want to thank Per for his many years of highly valuable service since the management buyout in 2009 and ensuring an effective succession during the transition phase. In his role as CDO, Per pushed forward the global expansion, introduced the three-pronged structure of BearingPoint, and initiated the foundation of the BearingPoint Institute. He contributed massively to the success of our firm.” Mr. Palmgren commented: “I am very excited to be the new CDO of BearingPoint. Over the years with BearingPoint, I have held many stimulating client and leadership roles and have had the opportunity to work across different practices in Europe. I will put this experience to use as CDO. Execution is what makes a strategy count. Successful execution starts with a good strategy development process, and this process will be a key focus of mine in 2017. Another important part of successful execution that is often overlooked is to have frequent and transparent communication, both internally and externally, on our strategy-to-results development, performance progress, and any mitigating actions.” BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three units: Consulting, Solutions and Ventures. Consulting covers the advisory business; Solutions provides the tools for successful digital transformation, regulatory technology and advanced analytics; Ventures drives the financing and development of start-ups. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success. For more information, please visit:
News Article | June 21, 2017
FRANKFURT, Germany--(BUSINESS WIRE)--Management and technology consultancy BearingPoint, which ranks among the leading providers of Risk and Regulatory Technology (RiskTech/RegTech), announced today that the first release of the new software generation for banks, Abacus360 Banking, has been delivered. BearingPoint had announced at its annual user conference in November 2015 that it would develop a new generation of the recognized Abacus platform. Main drivers for the decision are regulatory and technological developments of recent years. Based on a new generation engine, Abacus360 Banking will cover all existing Abacus regulatory and risk modules. It will also provide additional components enriching the functional scope by an intelligent toolset allowing for tailor-made optimization of regulatory reporting processes, regulatory analytics and regulatory management. Bodo Windmoeller, Partner at BearingPoint, said: “Both supervisory authorities and regulated firms need new technological solutions that improve efficiency of regulatory processes. Financial supervision is strongly driven by data. Vast amounts of data at increasingly granular levels have to be processed. Deadlines for implementation of new regulations are getting shorter, costs are rising. These trends and challenging new regulations like AnaCredit, BCBS 239, FRTB and IFRS 9 were motivation to make a strategic investment in a new software generation. Abacus360 is a modular, scalable platform that integrates functionality for regulatory reporting, risk calculations, and analytics and offers additional components that go far beyond the previous capabilities of Abacus.” Sven Mueller, Partner at BearingPoint, commented: “Abacus360 is the result of more than 20 years of experience in regulation, combined with innovative technologies like in-memory processing, grid architectures and cloud. The new platform is scalable in high-performance environments and facilitates faster processing times, cost-effective scalability, higher transparency and more agility in terms of faster implementation of new regulatory requirements. To clients, who want to use a high-performance environment without building it by themselves, we offer tailored managed services.” The business functionality of the new platform is being developed in close collaboration with pilot customers from the existing Abacus users. Pilot customers include DZ BANK AG, the central institution for co-operative banks, Berlin Hyp, one of the large German Pfandbrief banks, and Bank fuer Sozialwirtschaft (BFS), among others. These institutions have decided for the new platform for various reasons. “We decided on Abacus360, because the new platform enables us to fulfill regulatory requirements in a secure and efficient manner. In particular, we want to further standardize, automate and thereby accelerate processes within DZ BANK AG and within the group. Moreover, we would like to increase flexibility in order to respond also to unexpected short-term requests.” “We decided on Abacus360, because it allows us to make our regulatory processes more transparent, efficient, better performing and secure. From our perspective, the new platform comes at the right time – the rapidly changing regulatory requirements are calling for innovative technical solutions like Abacus360.” “Our key objective for piloting Abacus360 is the replacement of all Excel-based individual data processing solutions. With Abacus360, we create for our organization a holistic platform covering applications for regulatory analytics and bank management alongside the traditional reporting components.” Abacus360 Banking fulfils the BCBS 239 principles for risk data aggregation and reporting. The new platform integrates reporting, risk, and finance applications based on one single data model and thus complies with the requirements for data consistency across departments defined in BCBS 239. Abacus360 Banking also meets the requirements of data lineage through the Complete Audit Trail (CAT). The first business module that will be available on the new platform is AnaCredit (Analytical Credit Datasets), the new regulation of the European Central Bank (ECB) for the collection of statistical data on a loan-by-loan basis, which will come into force from December 31, 2017. A major innovation of Abacus360 is the optimization of reporting processes in terms of a “reporting at the push of a button”. With the new software generation, regulatory processes become fundamentally more transparent, efficient and high-performing. Core of the new platform is one single data model that allows for long-term maintainability even under constantly changing framework conditions. In the first quarter 2016, Abacus360 has been delivered to pilot customers. Since June 2016, all clients and prospects have the opportunity to test the new platform including the AnaCredit module as an on-premise installation or Software-as-a-Service (SaaS). The Abacus360 roadmap and use cases will be presented at the upcoming 24th RegTech Convention at the end of November in Frankfurt. For more information about BearingPoint’s RegTech product line, please visit: http://www.reg.tech. BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three units: Consulting, Solutions and Ventures. Consulting covers the advisory business; Solutions provides the tools for successful digital transformation, regulatory technology and advanced analytics; Ventures drives the financing and development of start-ups. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success. For more information, please visit:
News Article | February 15, 2017
Kelly Mire, a 25-year veteran of federal IT and management consulting services, has joined Koniag Government Services (KGS) as President of of Koniag Services Inc. (KSI) Kelly is fully responsible for driving the advancement of the KSI mission and objectives. He leads all aspects of delivering information technology and services for client success, revenue, profitability and growth of KSI. Prior to this appointment, Mire held executive leadership positions with large management consulting organizations where he drove the expansion of client relationships by developing and delivering complex IT services and solutions. He has successfully built and managed large and highly proficient capability teams working across a broad and diverse client portfolio, consistently focused on delivering valued results within mission critical technology programs. Mire held executive leadership positions at Deloitte Consulting and BearingPoint, focused on revenue growth and management within public sector IT for health, defense and civilian markets. Koniag Government Service’s CEO, Ed O’Hare, commented: “The addition of Kelly strengthens our team with an executive experienced with managing complex organizations and with tremendous experience in strategy development specifically within the Health IT Industry ensuring the future success of KSI." About Koniag Government Services Koniag, Inc. is one of the 13 Alaska Native regional corporations established in 1971 by the Alaska Native Claims Settlement Act (ANCSA). Koniag represents the Alutiiq people from Alaska’s Kodiak Island region. Koniag Government Services has supported the DoD and Civilian communities since 1994 specializing in Information Technology, IT Security, Infrastructure Support, Application Development, and Management Consulting Services. Headquartered in Chantilly, Va., and supporting clients in eleven states across the country, Koniag Government Services has built a solid reputation for performance excellence and dedication to our client’s mission. For more information, please visit http://www.KoniagGSS.com.
News Article | February 23, 2017
BearingPoint and SAP combine leading technologies Abacus360 and SAP HANA on one integrated platform for Finance, Risk, and Reporting Management and technology consultancy BearingPoint, a leading provider of Risk and Regulatory Technology (RiskTech/RegTech), will offer its new software generation Abacus360 on SAP HANA and plans a seamless integration into the SAP Financial Data Base powered by SAP HANA. The aim is to map finance, risk and reporting information in an efficient and high-performing way. The new integrated platform is for 360° reporting, risk calculation, and controlling regulatory Key Performance Indicators (KPIs). The platform is based on an innovative calculation engine that uses technologies like in-memory processing and grid architectures. Abacus360 facilitates a combination of regulatory data management with the Finance and Risk Data Platform of SAP, which is based on SAP HANA architecture. Stefan Schütt, Partner at BearingPoint, explains: "Extending the FRDP (Finance and Risk Data Platform) data model to data required for regulatory reporting transforms FRDP into a comprehensive overarching data warehouse for banks. By seamlessly integrating our RegTech solution on the SAP platform, SAP's FRDP becomes a leading, fully scalable Finance and Risk platform for regulatory reporting. Banks need new technological solutions capable of processing and analyzing big data in Finance, Risk, and Reporting on the fly." Dr. Nico Kohler, Global Head of Finance & Risk at SAP, comments: "The combination of SAP data management expertise through HANA technology and the regulatory processes based on BearingPoint's Abacus360 brings huge advantages for banks: less redundant data, rapid analysis of big data and easier implementation of future regulatory requirements, just to name a few. The SAP platform enables banks to use SAP modules and best-of-breed partner solutions such as Abacus360 on one integrated data platform." Key benefits of the combined Finance and Risk platform are a uniform, non-redundant data storage, fully scalable in-memory processing, and continuous maintenance. As the solution integrates reporting, risk and finance applications based on a uniform data model, it meets BCBS 239 principles for risk data aggregation and reporting. Furthermore, the solution meets the data lineage requirements through a Complete Audit Trail (CAT). The partnership between BearingPoint and SAP has been ongoing for many years. ABACUS/IIR has been integrated with SAP Bank Analyzer since 2011. With SAP Bank Analyzer 9.0, the product already runs on SAP HANA. The new generation of Abacus360 is a technological advancement of the Abacus platform, proven over more than 20 years, and offers standard reporting modules for many jurisdictions, modules for risk and valuation, simulations, and risk quantification. Moreover, Abacus360 provides comprehensive functional components for instance for regulatory analytics, which facilitate simulations, detailed ex-post analyses, and flexible evaluations across reporting due dates. A major innovation of Abacus360 is "reporting at the push of a button." With the new generation, regulatory processes become more transparent and efficient. With its RegTech product line, BearingPoint is a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech) and services along the Regulatory Value Chain for Financial Services. Customers representing 5,000 firms worldwide, among them large international banks, a major part of the largest European banks, leading insurance companies as well as supervisory authorities and central banks, trust BearingPoint's RegTech products and services. We work closely with regulators and as a member of standardization bodies such as XBRL consortium, we actively contribute to the process of standard setting. We combine our regulatory expertise with our proven, reliable and future-oriented RegTech Solution Suite and expert consulting capabilities as well as training seminars and managed services. For more information about our products, please visit: http://www.bessgmbh.com/en/ BearingPoint consultants understand that the world of business changes constantly and that the resulting complexities demand intelligent and adaptive solutions. Our clients, whether in commercial or financial industries or in government, experience real results when they work with us. We combine industry, operational and technology skills with relevant proprietary and other assets in order to tailor solutions for each client's individual challenges. This adaptive approach is at the heart of our culture and has led to long-standing relationships with many of the world's leading companies and organizations. Our global consulting network of more than 10,000 people serves clients in over 75 countries and engages with them for measurable results and long-lasting success. For more information, please visit:
News Article | February 28, 2017
AMSTERDAM & MILAN--(BUSINESS WIRE)--Management and technology consultancy BearingPoint has acquired a manufacturing and operations consulting unit in Italy comprising more than 30 industry experts. This transaction expands the firm’s capabilities in production industries and will serve as an enabler for further growth in BearingPoint’s Italian practice led by Rabih Hamdan. With this acquisition, the consultancy serves among others all major automotive clients in Europe and further strengthens its offerings in the areas of supply chain, engineering, manufacturing/quality and IT advisory. The new team will be integrated into BearingPoint’s Consulting unit, creating a combined force of more than 600 experts focused on production industries. Its know-how is available to clients in Italy and across Europe with immediate effect. “This acquisition is a fine example of our strategy to integrate smaller, bolt-on teams that can quickly and sustainably expand our capacities and fuel our growth. Our clients will rapidly enjoy the benefits of this addition to our roster,” said Peter Mockler, Managing Partner BearingPoint. “Manufacturing is one of the most important growth segments in our firm-wide strategy as the industry is undergoing major transformations. The acquisition of this experienced team reinforces our operations capabilities, and we are very excited about the growth opportunities it opens up for us in Italy and around the globe,” added Matthias Loebich, Global Leader Production Industries BearingPoint. BearingPoint consultants understand that the world of business changes constantly and that the resulting complexities demand intelligent and adaptive solutions. Our clients, whether in commercial or financial industries or in government, experience real results when they work with us. We combine industry, operational and technology skills with relevant proprietary and other assets in order to tailor solutions for each client’s individual challenges. This adaptive approach is at the heart of our culture and has led to long-standing relationships with many of the world’s leading companies and organizations. Our global consulting network of more than 10,000 people serves clients in over 75 countries and engages with them for measurable results and long-lasting success. For more information, please visit:
News Article | March 1, 2017
MILANO--(BUSINESS WIRE)--La società europea di management e technology consulting BearingPoint ha acquisito un team di oltre 30 esperti in Italia operanti in ambito manufacturing e operations. L’operazione espande ulteriormente le conoscenze dell’azienda nel settore produttivo e rappresenta un importante elemento di crescita per il mercato italiano. Attraverso questa acquisizione, BearingPoint rafforza la propria offerta in ambito supply chain, engineering, manufacturing/quality e IT advisory, estendendo tali servizi anche a tutti i principali clienti del settore automotive in Europa. Il nuovo team entrerà a far parte dell’unità di consulting di BearingPoint in sinergia con gli oltre 600 esperti dedicati all’industry production. Il know-how e le competenze del nuovo team sono già a disposizione dei clienti in Italia e in Europa. Rabih Hamdan, Italian Practice Leader di BearingPoint, aggiunge: “Il settore del manufacturing è uno dei segmenti di crescita più rilevanti per la nostra azienda in Italia e nel resto del mondo per via delle grandi trasformazioni che l’industria sta attraversando. L’acquisizione di questo team e della sua esperienza rafforza le nostre capabilities in ambito operations e sono davvero convinto delle ulteriori opportunità di crescita che ne potranno derivare per l’Italia. Tali capacità e offering rispondono perfettamente alle esigenze dei nostri clienti. In più, condividiamo con il nuovo team la stessa cultura imprenditoriale, l’approccio olistico e il rapporto di trusted advisor che ci lega ai nostri clienti”. I consulenti BearingPoint comprendono che il mondo del business è in continuo cambiamento e che le complessità derivanti necessitano di soluzioni intelligenti e personalizzate. I nostri clienti, del settore commerciale, finanziario o pubblico, riconoscono i risultati delle nostre collaborazioni. Siamo in grado di combinare conoscenze e capacità di industry, operative e tecnologiche, attraverso l’uso di asset proprietari e non, al fine di ritagliare soluzioni che rispondano alle sfide che ogni cliente si trova ad affrontare. Questo approccio adattivo è al cuore della nostra cultura e ci ha permesso di sviluppare relazioni durature con molte delle principali società e organizzazioni mondiali. Il nostro network globale di consulenza di oltre 10.000 consulenti serve clienti in più di 75 paesi e continuamente si confronta con loro per fornire risultati e successi misurabili e duraturi.