SAP RealSpend: A new Star is born to tackle your budgeting nightmares
Every employee spending corporate money knows the pains involved in keeping their budgets under control.
And changes to the budget are as surprising as a new year’s evening party: they happen every year and we still seem to be surprised about it!
So what’s the issue? In the beginning of a fiscal year, budgets are planned top down from the management according to the plans and targets of the business.
They are passing through the different levels of management like a life line of nutrition passes through a tree to reach all branches.
And once those budgets reach the teams actually spending the money, these teams start planning in for their own area, in a fairly detached process.
Many times, the “branches” are using their own tools and customized spreadsheets. This is mostly a painful process that is not harmonized across the different teams, it involves a lot of manual work and does not leverage integration to the backend systems. To perfectly manage a budget means to spend the money not only in time, but also on the exact amount and not to over- or underspend.
From a management perspective, the footprint of this planning process is not transparent. It only appears on the radar screens of management when actual purchase orders or internal transfers have been issued and the invoices are coming in.
Throughout the year, it is a very normal occurrence that these budgets have to be adjusted at the management level. But these changes are often made in a vacuum without transparency on the planning of the different branches because the current budget details are not cascaded up to them.
Everybody managing budget knows it’s like landing a jet in the night on a runway and very strong side winds: The are a lot of bumps, some anxiety and you are very happy to be on terra firma again.
And to make these landings safer, a few decades ago smart brains developed the landing beam system which allows pilots to land in an automated way
supported by radio navigation. This was a major milestone in the history of aviation.
So what does this have to do with budget management? We have a brand new solution that serves as a budget management landing beam and allows all involved parties to establish a precision budget “landing”:
It’s a fast start cloud solution based on HCP (SAP HANA Cloud Platform), is fully integrated to S/4HANA and delivers a super easy to use interface on both desktop and mobile devices.
It simplifies the planning and executing of budgets in a completely new way. It gives everybody the right information on the fly to fulfill his daily job and execute along the enterprise strategy.
And last not least it it’s live within days.
Based on a subscription based model, you don’t have to go through large consulting projects, you just start, connect it to your S/4HANA based on a preconfigured integration interface and start rolling it out to your employees.
To give the budget managers the flexibility they are used to from self-created data sheets, RealSpend introduces a new tagging technology to allow them to model their own view with adding new dimensions and characteristics.
With RealSpend everybody benefits from simplified budget planning and tracking.
Want to learn more?
Join us on SAPPHIRE, we prepared the following tracks for you:
17th of May 12:00pm – 12:40 pm:
Interactive Session Drive Digital Transformation in Finance with Simplicity in the Cloud (LB33825)
17th of May 03:00pm – 03:40pm
Thrive in a Two–Speed IT World with the Right Enterprise Architecture — Interactive session with Deloitte and SAP (Including SAP RealSpend) (DE33719)
18th of May 04:30pm – 04:50 pm
Initiate a New Age in Spend Control in the Cloud (LB33818)
19th of May 09:00am – 10:30am
Keynote (including a RealSpend Demo) – Prof. Hasso Plattner, Chairman of the SAP Supervisory Board
If you haven’t registered for SAPPHIRE already Register now and so you can take part in this opportunity to learn from and network with your peers. We look forward to seeing you in Orlando!
Want directly start with a RealSpend test drive?
Register here: www.sap.com/testdrive-realspend
Thanks Benno, great blog, I think we can all relate to the Xcel-mania we still have to go through. Looking forward to using this asap!
Thank you very much for this great blog, making us aware of this new solution that can help make our budget planning and tracking live and simple.
Another registration form? Gee... I have an S-user, why can't it just work with single sign-on? Or at least some kind of central "registration for marketing"? I've already had to fill in such form 3 times this year. Digital transformation can't come soon enough...
there is another way to access the test drive which is potentially easier for S-users, was already described here.