SAP S/4HANA Cloud 2002 for Finance yet provides another proof point on SAP’s capability to execute on the promise. In this blog post you will find my favorites of some of the latest and greatest SAP #S4HANA #Cloud 2002 highlights for Finance. You can also check out the video below to gain insights into the innovations which are top of mind.
In the past, finance was mainly perceived as running the business and executing operational tasks. As finance is crucial to the success of a company, stakeholders nowadays expect it to provide necessary insights for decision making while at the same time freeing up time by automating finance-related tasks with minimal human intervention. SAP S/4HANA Finance automation is continuously enhanced on three levels that build on each other. Let’s look at some examples for each level in in this release.
Video 1: Release Highlight Video on Finance
Optimized Asset Accounting
Starting with 1902, several optimizations have been incorporated into asset accounting: a new entity of valuation views has been introduced which are finally mapped to depreciation areas. These are defined as ‘global’; thus, a corporate valuation like for example IFRS exists only once instead of many times per chart of depreciation. Depreciation areas for parallel currencies have been eliminated. Each depreciation area which posts to G/L is now handled in all the currencies defined per ledger automatically. Separate former apps have been merged into one unified Fiori App called ‘Manage Fixed Assets” with an optimized user experience integrating the Assets Explorer and providing an additional ledger view.
Validation and Substitution
In this release we added validation and substitution rules. Journal entries, values of market segment and coding block fields need to be maintained correctly. These fields can be standard table fields or custom fields. Some of these fields can have values derived from the transaction data, e.g. sales order and purchase order, and some can be entered by other means. With the new Validation and Substitution solution, customers can derive the field values with their predefined rules and validate the entered or derived values to align with their business needs.
Video 3: Validation and Substitution
SAP Intelligent Robotic Process Automation
SAP Intelligent Robotic Process Automation is a complete automation suite where software robots are designed to mimic humans by replacing manual clicks, interpreting communications, or making process suggestions to end users. We delivered brand-new pre-built SAP Best Practices robot templates for finance, such as mass assets acquisition, mass asset transfer, automated upload of journal entries via API’s and many more.
Video 4: SAP Intelligent Robotic Process Automation for Finance – Mass Asset Acquisition
Supplier Financing (Supply-Chain Financing, Reverse Factoring) helps well-established buyers have an uninterrupted supply by providing liquidity to their suppliers. It is based on the practice of selling invoices at a discount in exchange for advance cash payments from a financing organization. Discounting is based on the negotiated agreement between buyer, supplier, and the bank (factor) to pay certain invoices earlier than maturity at a discounted amount. With supplier financing working capital can be optimized on both the buyers side and the suppliers side. Moreover buyers and suppliers can get access to financing conditions which they might not be able to receive directly.
Figure 1: Supplier Financing Example
For more information on SAP S/4HANA Cloud, check out the following links:
- SAP S/4HANA Cloud release info: http://www.sap.com/s4-cloudrelease
- Article on SAP News here
- SAP S/4HANA Cloud Release Blogs here
- Early Release Webinar Series here
- Inside SAP S/4HANA Podcast here
- Best practices for SAP S/4HANA Cloud here
- SAP S/4HANA Cloud User Community: register here
- Feature Scope Description here
- What’s New here
- Help Portal Product Page here
- Implementation Portal here