The SAP.iO Foundry Berlin kicked off a dedicated financial technology (fintech) program with participants consisting of business-to-business startups focused on finance and governance, risk and compliance (GRC), SAP SE (NYSE: SAP) said today.

With the growing complexity of regulatory laws impacting enterprises, startup solutions and innovations will help optimize enterprise resource planning processes and address customer needs. In a recent report by Deloitte, cost reduction and increased regulatory scrutiny were the main drivers of a significant increase in spending on enterprise risk management. With more than 56 percent of organizations using, or planning to use, cloud-based platforms, enterprises are looking for intelligent, real-time, actionable solutions to meet their improved efficiency goals.

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