#MasteringSAP Day 1 Keynote Summary, Finance #MasteringSAPAfrica
Today kicked off Mastering SAP Africa. Of course this year it is virtual; it was a great experience.
Andrea Keegan, Eventful People, said we “still need to get together”
Couldn’t do it without SAP or partners
Connect with people
Cathy Smith, SAP MD of South Africa
SAP looks to be agile, respond to customer needs
SAP looks to provide actions for customers to achieve intelligent enterprise
Janet Salmon, SAP, is pictured at the bottom. Janet has been with SAP since 1992. Chandy is was this track’s moderator.
Where did you start?
In 1992, it was mainframes, no smart phones (when Janet started with SAP)
Today, it’s going from on premise to cloud operating model
5K spreadsheets held together by an SAP system
What are they managing by Excel at the moment?
Could the closing cockpit replace
Real time insights – typically deliver balance sheet 3 days after
Not information you can use
Starting to change
Where doing data cleansing, clean now and show it
Act on data collect today
Predictive accounting insights – sitting by sales orders, purchase orders, give you an indication of where you are going
Been on the left
Going to the right
Had islands, running SAP, not easy to compare
In 2000, go to Data Warehouse to bring data together
Manage organization as one
Are you still in same business?
Producing or service industry
Car companies – talking today how to handle services, how monetize car wizardry?
Companies doing what they did before, but what are they doing “on top”?
Companies still have engineer to order piece, but now have sensors on top, now charge for outcome
Could do what you are doing before, but could be doing better
Be more efficient – reason for the move to S/4HANA
“do more with less”
Many companies have too many cost centers, too many accounts
Tried to replace mainframe system
Think of cost centers, GL’s
Think of products, services, are they changing?
Think of customer segment
Many thinking of group currency in place for consolidation
Parallel valuation for intercompany business
Urgency has changed
Universal journal – bring FI and CO together
What do you want universal journal to look like?
Are you meeting local view and group view?
Don’t think just about actuals, planning process, consolidation process
Not just profit center report but also have FI dimensions for a more useful report than before
How do you choose to work?
New T account view, a new Fiori view
Start with controlling and P&L account
Way to teach people, look for errors
New document flow
Look at apps for predictive accounting
Predicted revenue on sales order – looking at due date, when delivery, invoice takes place – see when hit P&L statement
Loads of money not explained well
Look at typical things go wrong
Like Amazon suggestions – write this off, etc.
Q: What was the name of the Fiori App which you displayed for the Document Flow example?
A: Display document flow
Q: How can you manage the universal journal dimension with the other orgs like profit centers, cost centers, COA etc.
A: Universal journal is like a pivot table
Q: That was very insightful. What is the name of the book/s you referred to/writing?
A: New book on controlling – due early next year
Current book out now:
Janet is writing a new book on controlling which is due out next year.
What a great start to the conference…thank you, Eventful People + Steering Committee. Also thank you to Chandy Beyrooti our track moderator. Special thanks to Emma Buitendag and Katherine Laubser of Eventful People for the fast help.