How to Free Up Controller’s Time
Detect unusual business situations with SAP Financial Statement Insights
You are a financial controller? What would you like to spend your time on? Is it operational repetitive manual tasks? Or do you rather prefer to focus on steering the company and adding substantial value? I assume it is the latter. Nevertheless, operational manual tasks take a lot of a controller’s time. In this blog, I would like to show you how to get rid of one of these.
Imagine the following situation: Period closing is emerging. Your list of pending tasks is comprehensive. Pressure is up. Your CFO approaches you on short notice and wants an overview of the profit and loss statement status. By gathering the requested information, you stumble upon situations on your revenue and cost accounts, like unusual spikes on the cost side or dips in revenue. You cannot explain these effects by the pure financial numbers. Your start to get lost in manual investigations and time pressure rises.
I confess, this situation might be a little bit exaggerated. But I assume you experienced similar situations in your day to day business.
Here, I’m going to show you how you can avoid additional effort for manual investigation and easily satisfy your CFO.
Stay on top of your revenue and cost accounts
Today, the controller’s toolset mainly contains a combination of slide deck templates and various spreadsheets, filled with aggregated data from a data warehouse solution. Although this approach might grant you a lot of flexibility, it doesn’t meet our expectation when it comes to
- data granularity,
- real-time investigation, and
This is especially true since the amount of relevant data grows every day and decision cycles become shorter.
With SAP Financial Statement Insights we aim to address these challenges. SAP Financial Statement Insights, a cloud web application natively integrated with your SAP S/4HANA, helps you to always stay on top of your revenue and cost accounts. It provides analysis capabilities catered to your needs:
- drill down along the account tree and visualize your data as time-series
- slice and dice your data by applying various filters, like profit Center, customer and product
- compare your actuals to different plan versions
- perform year-over-year comparisons and accumulate your numbers on a quarterly basis
- assess the underlying records for further investigations
The combination of functionality and intuitive user interface makes data processing with Excel and PowerPoint obsolete. Your CFO is asking for a status of P&L accounts? Show it live to him in SAP Financial Statement Insights with all data at your fingertips.
But what about the unforeseen spikes and dips in the revenue and cost account? Although, we have a superior solution at hand, it still needs manual investigation? Fair point! Therefore, we added intelligence to SAP Financial Statement Insights.
Let the system guide you to unusual business situations
With the S/4HANA Cloud 1805 release, we introduced a new capability: Automated detection of unusual business situations. With this machine learning backed feature, you can save a lot of effort for manual exploration and investigation. SAP Financial Statement Insights learns from historical data to identify unusual manifestations in your financial postings. These exceptions can be obvious spikes or dips on your highest account level. But these can also be situations hidden under aggregates, concealed by high level account nodes or behind arbitrary filter combinations. The application does not only identify the situation for you, it also easily guides you to the underlying records in your SAP S/4HANA system – just one click away. From here, you can quickly assess the situation and take action in order to resolve it.
So, the next time your CFO approaches you with an ad hoc P&L status request, you can instantly feed him the desired information. Extensive and error prone manual explorations of your revenue and cost accounts are no longer needed. SAP Financial Statement Insights’ exception detection simplifies P&L analysis and frees up your time for valuable tasks.
Check out the product website for more information about SAP Financial Statement Insights.