To answer your question, I would consider BPS to be part of SEM, but IP is clearly part of BI going forward. SEM as a product is very closely linked to BW and I don't know if you'll see much use of the "SEM" moniker going forward. But there's no question that the key planning and decision support functions SEM was built to address will continue to be a factor on SAP projects. I would probably approach them from either the BW or Financials...
side and not worry about specializing in SEM much longer.
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