SAP S/4HANA Move for Finance Blog series #04 of 15 SAP’s Unique Formula For The Finance Function Of Tomorrow
Thank you for joining our SAP S/4HANA Finance Move blog series breaking down the Webinar Series for Finance Professionals
In this on demand webinar Michel Hassendonckx, Global Solution Owner Financial Planning & Analysis SAP, will share how the finance function is changing, within a changing business reality. In this session we will look into SAP’s reference architecture enabling effective steering, increased operational efficiency while protecting the organization’s value by providing continuous compliance but removing technical limitations from the past.
Here’s the agenda Michel will cover:
- Business Imperatives for CFOs in an age of Disruption
- SAP’s Unique Formula for the Finance Function of Tomorrow
- Translating business requirements into and end-to-end architecture
- SAP S/4HANA as the centerpiece, delivering signficant business value
- Flexible extensibility, driven by business requirements
This is a great session, definitely worth watching!
Additionally, here are some of the questions and answers from our live session:
- Can you please provide some examples of tasks that are taken away in closing?
- Reconciliation between the ledger and subledgers are eliminated with the Universal Journal.
- For the Managerial Close: Profitability available by elements like customer, product, etc immediately available for margin reporting, eliminating the need for a separate close process.
- At the group close level: Tasks such as data validation at the source. Not eliminating the task, but shifting it from the close critical past. This applies to many closing steps that happen in real time instead of waiting until period end to execute. Many steps are automated in another way but remain part of the closing process. For example: Calculation and approval of accruals through automation and by integrating machine learning capabilities.
- Can SAP S/4HANA for group reporting and SAP Analytics Cloud replace SAP Business Planning and Consolidation (SAP BPC)
Yes it can. What makes it such a compelling business case is group reporting and SAC share the data model of the Universal Journal.
- Is SAP Business Planning and Consolidation (SAP BPC) discontinued or will still exist?BPC is still supported, please check out the SAP Product Availability Matrix (PAM) for the latest support dates or other version, but as of the date of publishing this blog: https://blogs.sap.com/2020/04/30/sap-bpc-product-suite-extending-maintenance. Additionally, for the latest support dates or other version, please check out the SAP Product Availability Matrix (PAM) http://support.sap.com/pam. For stand-alone consolidation scenarios, BPC is still an option. But if you’re thinking of a new implementation, integrated in SAP S/4HANA, BPC is NOT the way to go, SAP S/4HANA for Group Reporting is the way to go!
- Is there API from Group Reporting to Disclosure Management?
Group Reporting and Disclosure Management indeed work together. These are 2 separate solutions but part of the same proposed architecture.
- Is SAP Analytics Cloud (SAC) a full-fledged planning tool?
SAC contains a complete planning engine indeed with a lot of capabilities. There is a separate session as part of this series called “See How SAP’s Finance Platform Has Evolved Beyond Accounting, Supporting the End-to-End FP&A Function” which can provide more detail which includes two additional deep dive sessions:
- How to Analyze Your Margin in a Changing Business Context with SAP
- Provide a Flexible Platform for Your Integrated Planning Approach with SAP S/4HANA and SAP Analytics Cloud for Planning
For a complete outline of our on demand series check out www.sap.com/move-finance
SAP S/4HANA Move for Finance Blog series
#07 of 15 Establish Trust Across the Financial Close
#08 of 15 See How SAP’s Finance Platform Has Evolved Beyond Accounting, Supporting the End-to-End FP&A
#09 of 15 Increase Customer Satisfaction and Process Efficiency in Receivables Management with SAP S/4
#10 of 15 Increase Revenue by Establishing Service-Based Business Models with SAP S/4HANA
#11 of 15 Establish an Integrated and Centralized Treasury and Working Capital Management
#12 of 15 Streamline and Automate Financial Shared Services with SAP S/4HANA
#13 of 15 Manage Indirect Tax Consistently and Cost-Effectively with SAP S/4HANA
#14 of 15 Manage Governance, Risk, Compliance (GRC) and Security with SAP S/4HANA
#15 of 15 Learn How SAP S/4HANA Can Support Finance Professionals to Join Enterprise Transformation