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Flexibility Flexibility Flexibility without disruption – New Mantra for Finance in Best Run Businesses

With The specified item was not found. (hopefully), and everyone looking at growth path ,all best run businesses are gearing up to adapt change fast. Flexibility, Flexibility , Flexibility is the what finance wants to adapt this change.

Management science and visibility to make clear decisions

Finance wants more scientific approach to get accurate information on cost/profitability , to make clear decisions. Most importantly they need best practice approach to enable planning and reporting analysis in a much integrated end to end fashion, and also facilitate clear pushing down of strategy to every line manager. While they need this scientific approach, they need lot of flexibility with right software solutions supporting the same. So the management science around ‘Closed Loop Enterprise Performance Management’ solutions is a well validated framework to support the needs of finance. SAP Business Objects EPM solutions are certified by Kaplan-Norton to support this management science. image

More specifically some of the innovations in 2010 facilitate adoption of the above certified framework:

  • Tighter integration of SAP BusinessObjects Planning and Consolidations (BPC) with other SAP BusinessObjects Enterprise Performance Management Solutions through Financial Integration Management
  • Ability to have SAP Business Objects Xcelsius embedded into BPC
  • Ability to drill through to SAP ERP seamlessly including retractionimage“Enable Enable better profitability using both activity based costing and traditional costing models, with a comprehensive allocation engine supporting the same

With the above new innovations on top of a very sound existing solution that allows lot of flexibility through a We cannot cannot work without Excel !!!, that finance loves, the flexibility and management science part is covered comprehensively through the solutions.

Game plan to adopt converging, international accounting standards e.g. IFRS

 

While flexibility is key part, the other part is finance does not want major disruption as they would like to get out their financial results running in mission critical ERP and Financial Consolidations/Reporting systems intact. All of this needs to help ensuring the end to end closing process -seamless, fast, accurate and non disruptive. Also it should allow flexibility to incorporate business dynamism of Mergers & Acquisitions, change in business models to report appropriately to the stakeholders. The below chart shows how many of customers in finance would like to have flexibility with automation that is not disruptive:

image” Industry leading Starter Kits to support IFRS compliance through comprehensive prepackaged applications that supports different international accounting standard needs – with new functionality of supporting all financial statements e.g. statement of change is equity, Statement of Cash Flows / comprehensive calculations such as full goodwill (supports fairvalue valuation) and many more

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Consolidations solutions supports dynamic simulation of different ownership combination and impact of the consolidated results – this offers tremendous flexibility. Offcourse, it also makes sure all the ownership patterns can be accurately calculated for legal consolidations.

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To summary Innovations 2010 in the enterprise performance management solutions allows Flexibility without disruption – built on a well accepted management science framework for performance management, and also takes care of convergence to international accounting standards. 

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