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Redwood Enhances Financial Close Solutions from SAP for World-Class Companies


Redwood Enhances Financial Close Solutions from SAP for World-Class Companies
Orlando, FL, May 05, 2008 --(PR.com)-- Responding to the constant struggle of corporations to complete a timely and reliable financial period-end close, Redwood Software is unveiling a new offering aimed at helping world-class companies accelerate financial closing processes. The integration of the SAP® Central Process Scheduling application by Redwood with SAP’s latest financial solution for local close processes is being featured by Redwood at the SAPPHIRE® 2008 Orlando conference being held May 4 – 7.

While speed is the focal point, the newest integration also addresses deeper aspects of the financial closing process, including reliability, efficiency and compliance in order to deliver a truly powerful improvement in the way books are closed at period end. SAP Central Process Scheduling now works seamlessly with the latest release of the SAP® ERP Financials application and its graphical financial close management tool, the closing cockpit, to deliver a single point of control and monitoring capability. Redwood’s offering allows customers to manage and coordinate close events across the enterprise. Close events from financial and non-financial applications as well systems running solutions from SAP and other vendors can be utilized.

“The integration of SAP Central Process Scheduling by Redwood with the closing cockpit functionality of SAP ERP Financials opens up a new realm of efficiency, visibility and control for mission-critical financial closing processes,” said Philip Say, vice president, ERP Solutions Marketing, SAP Labs, LLC. “SAP is committed to improving financial close processes for its customers by offering world-class products for financials; financial performance management; and governance, risk and compliance. Our active engagement with Redwood demonstrates that commitment and highlights the strength of SAP’s partner ecosystem in delivering solutions that enable our customers to implement best practices.”

Processes that were previously managed in different systems can now be automated and tracked in real time, eliminating substantial manual intervention. Closing becomes a standard, repeatable procedure managed by a software solution that minimizes errors and delays. Even the most complex combinations of manual processes, IT systems and geographic locations can benefit greatly from this newest integration of SAP Central Process Scheduling with the closing cockpit of SAP ERP Financials.

“Finance executives demand speed, accuracy and control when pulling the books together at the end of every period,” said Dennis Walsh, executive vice president, Redwood Software Americas. “Now that SAP Central Process Scheduling is integrated with the closing cockpit, senior levels of the finance group can now manage and monitor the closing activities of individual business units at a subsidiary level. Our own development team worked with SAP to integrate the capabilities of SAP Central Process Scheduling with the closing cockpit tool to improve and augment a world-class solution for period-end close.”

In an Americas SAP Users Group (ASUG) study in December of 2006, world-class companies utilizing efficient financial close processes realized cost savings of 65 percent to 75 percent on their closing and reporting efforts, as compared to average companies of similar size.

The newest version of SAP Central Process Scheduling is currently available in ramp-up, and is expected to reach unrestricted shipment during the second quarter of 2008.

The latest integration of SAP Central Process Scheduling with the closing cockpit of SAP ERP Financials is being featured in the following venues at SAPPHIRE 2008 Orlando:

Exhibition Hall
• “Accelerate Closing and Financial Transparency” demo in the SAP Applications: ERP village – Pod# 713 – May 5-7
• Demo stations in the Enterprise SOA village and the SAP NetWeaver® village
• Redwood Software booth #1381

ASUG Presentations
• “Accelerate Closing and Gain Financial Transparency,” Gary Fullmer, Solution Manager, ERP Financials, SAP Marketing Development, SAP America, Inc., May 5, 2:15 p.m., room 307C
• “Closing Cockpit to Accelerate Your Financial Close,” Janet Dorothy Salmon, Solution Manager, Management Accounting, SAP AG, May 5, 3:45 p.m., room 309A

About Redwood Software
Founded in 1993, Redwood Software (www.redwood.com) enables organizations to maximize the value of their IT infrastructure and business information through effective, real-time event-driven process automation, job scheduling and enterprise report management solutions. Redwood has more than 3,200 customer installations worldwide from retail, manufacturing and financial giants listed on Fortune’s global list of the world’s 50 largest companies to community hospitals, universities and other regionally run businesses. Redwood is a global organization with offices in Germany, the Netherlands, the U.S., the United Kingdom and Switzerland.

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Redwood is a registered trademark and Cronacle and Report2Web are trademarks of Redwood Software. SAP, SAPPHIRE, SAP NetWeaver and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. All other products or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

For more information or to locate a regional office, please visit our website at www.redwood.com.© Redwood Software 2008.

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.

Contact Redwood Software

Americas:
Anja Miller
+1 919 460 5400 x 836
pr@redwood.com

Europe:
Esther Tolenaar
+31 30 635 4555
pr@redwood.com

Web URL: www.Redwood.com
Contact Information
Redwood Software
Anja Miller
919-460-5400 x 836
Contact
www.redwood.com
Marketing Communications, Americas. For more information or to locate a regional office, please visit their website at www.redwood.com.

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