It’s the end of “I’ll get back to you!”
Imagine you are the finance executive at a board meeting. Your executive colleagues have a myriad of questions for you:
- What are the most reliable and cost-effective suppliers that we should be using to source our components for production?
- We just received a large order from a new customer, how does this affect our revenue projection – as well as the cost to serve the new customer?
- We want to introduce a new product. Is it better to enter into a merger or acquisition, or to engineer the product ourselves?
- How much of our cash can we invest to ensure we can fund our growth initiatives while maintaining effective day-to-day operations?
Historically, finance would say “I’ll get back to you” – and then quickly return to their offices, to download information from various systems into spreadsheets, then manually consolidate and reconcile the information before the evaluation of these options could even take place. If there were multiple options for a decision, it was often the case be that there was not enough time to analyze each of them, so you then pre-selected only a few of the scenarios for evaluation.
With instant insight, you can now quickly respond to these questions, and incorporate any dimension into your plans and forecasts for instant insight to drive better business decisions in real time. Hear Martin Naraschewski, VP of Finance Solutions, share his perspective on instant insight, and several scenarios where instant insight is important for finance.
The CFO dashboard below, shown in several demos as the Financials 2015 conference, is an example of transforming Finance with instant insight.
All KPIs on the dashboard are calculated in real time directly using the transactional tables, which is possible with the power of SAP HANA.
For more information, visit our landing page at http://www.sap.com/simple-finance