As part of IBM's hybrid cloud growth strategy to drive digital transformation for clients, IBM has reached a definitive agreement to acquire TruQua Enterprises, LLC, an IT services and consulting SAP development partner that specializes in delivering finance and analytics solutions to Fortune 500 companies.
The acquisition will bolster IBM Services' expertise in financial workflows with SAP and further strengthen the company's hybrid cloud growth agenda.
According to IBM, the acquisition enhances its expertise in migrating financial platforms to SAP to help businesses modernize their financial processes and be at the forefront of industry innovation. The shift from legacy enterprise systems and siloed processes to cloud-based integrated and streamlined finance functions such as cash flow, budgeting, and consolidations is critical in today's rapidly evolving marketplace, IBM says.
TruQua will enable IBM to broaden its consulting expertise and capabilities to help clients implement SAP solutions that will improve and automate financial management workflows, enhance operational efficiency, and, ultimately, drive an enterprisewide transformation through the adoption of SAP S/4HANA, the latest generation of SAP's ERP business suite.
"Our clients are reimagining their core finance processes with cloud, AI and other exponential technologies to drive increased value for their organizations. Our acquisition of TruQua further strengthens IBM's deep global expertise in finance and demonstrates our continued commitment towards supporting chief financial officers' strategic initiatives," said Rahul Kalia, Global Managing Partner, Enterprise Cloud Applications, IBM Services. "IBM will leverage TruQua's extensive experience in SAP S/4HANA Finance & Group Reporting solutions to deliver better business outcomes, enabled by intelligent workflows and hybrid cloud."
The transaction is subject to customary closing conditions. It is expected to close in Q4 2020.For more information about IBM Services, visit www.ibm.com/services.