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SAP Financial Consolidation: Providing clarity and protecting customer investment

SAP Financial Consolidation: Providing clarity and protecting customer investment

At the SAP French-Speaking and German Speaking User Group convention meetings on May 26/27 2020, SAP announced an extension of mainstream maintenance for SAP Financial Consolidation release 10.1 until the end of 2027. Functional investments in SAP Financial Consolidation will be discontinued. SAP reiterated its publicized consolidation strategy focusing investment on SAP S/4HANA for group reporting available in both cloud and on-premise editions.

SAP Financial Consolidation extending maintenance

SAP S/4HANA for group reporting is SAP’s strategic solution for consolidation, available both as public cloud and on premise. At the same time, SAP also recognizes that SAP Financial Consolidation is currently in use at hundreds of companies for their corporate close process and that this product is mission-critical for their external reporting. In order to protect customers’ investment in SAP Financial Consolidation, provide stability in these challenging times and allow customers enough lead time to transition to SAP S/4HANA for group reporting, the following was decided:

  • SAP will provide mainstream maintenance for SAP Financial Consolidation 10.1 until December 31, 2027
  • Considering SAP Financial Consolidation’s solution maturity, SAP plans to end any new functional investment in this solution and consequently plans no new release or support package for SAP Financial Consolidation 10.1
  • The Customer Influence website for SAP Financial Consolidation will be removed due to the discontinuation of future innovations for this solution

Continual investment in SAP S/4HANA for group reporting

Available both as public cloud and on premise, SAP S/4HANA for group reporting is SAP’s strategic solution for financial consolidation and management reporting. SAP S/4HANA for group reporting unifies companies’ entity close and group close processes on a single system, providing end-to-end transparency from accounting documents to consolidated financial statements. This is the new foundation for fast analysis, better decision-making and an accelerated group close process. For customers not targeting a unified landscape, the solution can be used as a traditional stand-alone consolidation system with data collected from manual data entry apps, data mapping apps or API’s. Moving forward, SAP plans to continue to focus development investment in SAP S/4HANA for group reporting to better serve our customers.

Online co-innovation on SAP S/4HANA for group reporting

SAP has already been co-innovating with major SAP Financial Consolidation customers in shaping SAP S/4HANA for group reporting, and to enhance focus on customer co-innovation, SAP launched an SAP Customer Influence website for SAP S/4HANA for group reporting on May 12, 2020.

More information

For more information, you can refer to the following:

 

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