SAP has introduced its first cloud-based financial application for the enterprise, which provides real-time data based on the company's Hana in-memory database system.
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The product is part of SAP's wider One Cloud strategy, which brings together Business ByDesign, Business Objects one OnDemand and SuccessFactors.
Lars Dalgaard, member of the SAP executive board, said the company had been growing subscriptions to its cloud-based products. The SAP cloud business is worth $1bn and has over 20 million users.
Dalgaard said SuccessFactors grew 92% year-on-year, while Business ByDesign subscriptions grew 300%.
SAP Financial OnDemand is a separate product to the company's existing cloud offering Business ByDesign, which provides a cloud-based ERP package for mid-sized business.
Christian Horak, global head of SAP Business ByDesign solution marketing, said: “Finance now is different to how it was 20 years ago when it required experts and financial MBAs.”
The cloud-based Finance OnDemand package can be accessed from desktop PCs or from a native iPad application. SAP plans to develop a native Android version. Horak said the interface had been built to be easy to use, allowing users to drill down to analyse financial reports simply by clicking on data points or graphs.
The package uses Jam, part of its SuccessFactors cloud-based HR system, to enable users to collaborate securely.