Product Management update: SAP S/4HANA Finance Cloud, a scope insight
Let us share some first insights into the SAP S/4HANA Finance Cloud
SAP S/4HANA Cloud has a modular concept. This concept gives customers the opportunity to start their public cloud journey somewhere and expand overtime. To address this our next package will be the SAP S/4HANA Finance Cloud, which was launched at the Finance Connect in Las Vegas.
The SAP S/4HANA Finance Cloud is the newest part of the SAP S/4HANA family and is planned to be available with the SAP S/4HANA Cloud 1611 release. For businesses who want to take the first step and go into the cloud this is the perfect opportunity. You can begin with the SAP S/4HANA Finance Cloud as your base and expand your cloud system over time. The idea is to reimagine your strategy, business performance, as well as efficiency and compliance.
The SAP S/4HANA Finance Cloud provides reporting for both external financial disclosures, as well as management controlling information to enable intelligent business decisions. It reduces costs while improving service levels by automating and harmonizing processes, and providing business users with financial information in real-time. And last but not least it enables processes to seamlessly run across cloud solutions to tie finance processes to other operations, including procurement, sales, and human resources. With this product you can streamline the entire financial value chain.
- In-memory-enabled single financial data source across transactional and analytical data
- Enables real-time processes for instant insight across finance and controlling to make timely and relevant decisions
- Enable a “soft close” by solving issues throughout the month
- Integrated financial and managerial reporting
- Reduces duplications and errors minimizing the need for reconciliations
Real-time cash management
- Automated payment processes
- Provide rich analysis dimensions and drilldown feature to get better insight into cash daily operations
- Bank Account Management
- Intuitive and role-based user experience for higher employee productivity
- Real-time receivables and payables reconciliation avoid the manual work
Pre-delivered HR Integration
- Employee and cost center data integrated immediately across SAP SuccessFactors and SAP S/4HANA Cloud
- More integration scenarios leveraging Intelligent Services & Machine Learning on the way
Let us take a closer look at the overview for the planned scope for the SAP S/4HANA Finance Cloud 1611. Next to core finance processes the SAP S/4HANA Finance cloud covers selected scope items from the procure-to-pay and order-to-cash processes. Also the connectivity to SuccessFactors and RealSpend will be part of the 1611 release. The SAP S/4HANA Finance Cloud consists of more than just the Core Finance processes to ensure a smooth sequence with all the processes you require.
Let us take a closer look at the content of the SAP S/4HANA Finance Cloud:
In Core Finance these processes will be covered:
- Accounting and Closing Operations
- Cost Management and Profitability Analysis
- Cash Management & Bank Account Management
- Collections & Dispute Management**
In Optimized Order-to-Cash these processes will be covered:
- Order and Contract Management*
- Inventory Management*
In Streamlined Procure-to-Pay these processes will be covered:
- Operational Purchasing*
- Invoice and Payables Management
Some of these processes only include selected scope items and with some there is a separate license required (* only select scope items are included, ** separate license required). Of course, as with all the other cloud products, we will keep working on the content as well as the integration to other solutions. The four quarter roadmap will follow soon, so stay tuned for more information to the #SAP #S4HANA Finance #Cloud