Governance for Financial Master Data
Today I want to share with you some information on capabilities of SAP Business Suite 7 that SAP already released as part of Enhancement Package 4 for ERP 6.0 quite a while ago. Namely this is SAP Master Data Governance (MDG).
With EhP4 the supported scenario is to manage financial master data (from your various charts of accounts, for example) reliably and uniformly in homogeneous system landscapes that are distributed over several locations. This helps you adjust your master data to legal changes quickly and respond flexibly to new requirements. It allows you to react in a fast and controlled manner to business transactions such as a takeover of another company. MDG also enables you to track the changes that have been made to master data over time.
Approval Process for Master Data Changes
MDG enables you to use a workflow in the system to steer the approval process for changing master data, and document this process for reviewing purposes. The process begins with a request for a change, which can be evaluated and commented by various persons. Once the request has been evaluated, considered and approved, the system executes the changes. The changes then undergo a final check and are either approved or rejected. Change requests document and manage all steps in the approval process.
Versioning of Master Data
The changes are stored in editions. Editions let you display past values of the master data at any time and define future values. Change documents document when master data was changed and by whom the changes were made. You also can display the approval process and review the reasoning behind the changes.
Distribution of Master Data
You can distribute the master data changes from the system in which you centrally made the changes to the transactional systems. You can use enterprise services to distribute new and changed chart of accounts master data. You also can download the master data as files for upload into the transactional systems.
Change Requests are used to collect all the requested changes, to process the changes and to apply them to an edition after approval.
Change Requests are also used to collect information on the reason for changes, the processing status, and for collaboration of the various people involved in the workflow.
This screen shows how the actual changes are applied based on a task specific user interface that leverages value helps and validations.
SAPPHIRE Comes Closer!
As we come closer to SAPPHIRE and the launch of Enhancement Package 5, stay tuned for further updates on SAP Master Data Governance to see the value it can bring to other domains.
Solution Brief SAP Master Data Governance for financial data
Overview on SAP Master Data Governance for financial data
Online help SAP Master Data Governance for financial data
(Please note the use of the old naming of SAP Master Data Governance, financial data: Financial Master Data Management)