SAP S/4HANA 2020 – Take Advantage of the Extended Value to Boost your Finance Function
For some organizations, the major driver for change comes from the way their business is evolving. This type of change is often driven by the evolution of customer expectations and behavior and, more precisely, the constant endeavor to provide customers with the best possible experience. All of this can have a high impact on the way an organization does business… think for instance about the move from traditional product-based businesses towards subscription-based business models.
|In our video on Billing and Revenue Innovation Management we address how this solution supports organizations in establishing a revenue management process needed to make the new, innovative business models a reality.|
What is interesting from a finance perspective is how finance is involved and needs to transform in order to make such an enterprise transformation a success.
Finance is a mirror image of the real world. That’s why finance departments need to proactively think about how to not only operationally support business changes but also to ensure they are financially viable.
Then again, not every organization change this drastically. But also, in this case, we see finance departments continuously trying to reduce operational costs and bring more value to their business by delivering better insights, not leaving the responsibility towards compliance and risk out of sight.
|In our video on Receivables Management we showcase how the latest innovations drive the next level of operational efficiency in the invoice-to-cash process.|
Either way, the finance function is evolving significantly, which also has an impact on system landscape requirements. And while not every organization can replace their system landscape by a single environment, business transformation needs to be supported.
|In our video on SAP Central Finance Transaction Replication and SAP Central Finance Data Harmonization by Magnitude help you to a making your finance transformation a reality by reimagining and centralizing finance processes and gain quick access to latest innovations by enabling fast, low-cost, low-risk implementations of Central Finance.I|
Any analysis or study available indicates the growing requirement for businesses to gain access to far more continuous, real-time and higher quality insights at an increasing level of granularity to ensure effective guidance. Organizations look for increased steering effectiveness. We could call this the “navigation system” of the Intelligent Enterprise, providing end-to-end insight into how value is created for the organization, along the value chain… at all different levels of the organization: from the individual entity, over divisional layers, up till the group-wide perspective.
|In our video highlighting the new innovations in SAP S/4HANA for Group Reporting, it is this group-wide perspective we focus on.|
While one might initially mainly think about margin insights, this spans all 3 key areas: balance sheet, profit and loss and the cash situation.
|In our video highlighting the new innovations in Treasury Management we focus on how SAP S/4HANA enables you to manage working capital, payments, and financial risk.|
And while it’s absolutely important to understand the past, the real value lies in being able to anticipate the future through forward-looking insights. This brings up the importance of plan data as well as the ability to predict and simulate.
|A financial plan is no longer a stand-alone exercise. Operational business drivers impacting the financial performance are more and more included in an end-to-end planning or simulation process. In our video focusing on Planning, we not only address how the integration between the planning capabilities delivered with SAP Analytics Cloud and SAP S/4HANA can answer these requirements, but especially how the extended pre-delivered planning scenario’s support a faster and flexible adoption.|
In order to enable finance professionals to focus on this, operational processes can’t be simply ignored but instead need to be executed in the most efficient way possible. To increase process productivity, within SAP S/4HANA every process is designed with a user in mind. But it should not be a user, who keys in data, matches accounts and so on. But rather monitors and decides. That’s where the combination of automation of processes through Artificial Intelligence, Machine Learning and more, redesigned processes reducing repetitive effort, and embedded analytics… which can drive the user to concentrate on the business-critical elements… show their combined power. Also the single business foundation provided by SAP S/4HANA has allowed us to harmonize and simplify many processes.
|An interesting example on how SAP S/4HANA drives process harmonization and simplification is addressed in our video on Universal Allocation. A harmonized approach that deals with the key considerations related to different types of cost allocations and top down distributions: the transparency of the allocation logic while modeling, and the end-to-end traceability after being executed.|
Organizations need to innovate continuously to stay ahead of the competition. Use the extended value of SAP S/4HANA 2020 to make the next step forward.
- SAP S/4HANA 2020 – Billing and Revenue Innovation Management
- SAP S/4HANA 2020 – Receivables Management
- SAP S/4HANA 2020 – Central Finance
- SAP S/4HANA 2020 – Group Reporting
- SAP S/4HANA 2020 – Treasury Management
- SAP S/4HANA 2020 – Planning
- SAP S/4HANA 2020 – Universal Allocation
If you want to learn more about the finance concepts introduced in former releases – we highly recommend the introduction videos to be found here:
If you want to learn more about the new innovations in the SAP S/4HANA 2020 release, read this blog from Sven Denecken.
If you prefer to go through a systematic list of benefits of selected innovations read the blog from Ulrich Hauke