Assembling New Value in the Finance Organization with SAP S/4HANA Finance has been saved
Assembling New Value in the Finance Organization with SAP S/4HANA Finance
For the organizations doing business the pressure is on to provide greater clarity when it comes to financial data. As the pace of business accelerates, leaders in the finance organization see increasing demand for delivering accurate data in real time. Internal stakeholders as well as external parties continue to seek a single source of the truth. They don’t just want information fast. They want it to be reliable, current, and accessible.
Shifting market forces make the challenge more demanding. Companies are adapting to evolving digital business models that generate mountains of new data. At the same time, they’re being pushed to grow profits and margins while also facing new regulatory burdens on revenue recognition, lease accounting, and other factors. Meanwhile, globalization trends, merger activity, cash flow pressures, and internal demands for faster and more nimble financial reporting capabilities all add to the challenge.
As they search for finance solutions that can provide detailed visibility and support more effective business management, many organizations have turned their attention to solutions such as SAP S/4HANA Finance—to help simplify the data picture, provide greater accuracy, and deliver real-time insights that can enhance decision-making. SAP S/4HANA Finance offers finance leaders the ability to take an incremental approach to transformation, helping them to truly transform their businesses while also keeping pace with the evolution of technology.
SAP S/4HANA Finance—plugging in to new benefits
SAP S/4HANA Finance leverages the in-memory computing power of the SAP HANA® platform, boosting speed and eliminating the need to use traditional databases. The solution—which can be deployed in the cloud or on-premise—simplifies the architecture for financial data, delivers instantaneous analysis capabilities on transactional data, and provides the ability to run critical business processes in real time—enabling finance leaders to focus on value-added activities. As a solution that integrates legacy data, it can help technology companies accelerate finance transformation and see results sooner.
Ultimately, SAP S/4HANA Finance can offer organizations a way to streamline and centralize finance functions, integrate business planning activities, and enable. more flexible reporting—all as a means to enhance productivity, accelerate business processes, and deliver value rapidly and efficiently. SAP S/4HANA Finance deployed with Central Finance functionality can help you simplify the finance organization— operating with a single version of the truth and alleviating the need for multiple layers of reconciliation. It also can help address the key trends influencing finance for technology companies today.
SAP S/4HANA Finance can help organiza¬tions scale up to address emerging digital needs and transform mounds of new data into usable information. Moreover, that information can be delivered through intui¬tive dashboards, thanks to the SAP Fiori® interface, which allows users to access, explore, and drill down into the information they need—as well as review and approve actions. And because SAP S/4HANA Finance leverages the SAP HANA in-memory database, the solution simplifies data integration and supports a real-time flow of data from billing systems, for example, to a Central Finance solution.
Statutory and regulatory requirements
On the regulatory front, SAP S/4HANA Finance can help organizations rapidly pull together and deliver data to regulatory bodies while also providing insights into issues that could be a concern, allowing organizations to address potential problems before they get out of hand. And because SAP S/4HANA Finance can automatically duplicate information and “translate” your data for different countries, you can perform country-level reporting and manage issues such as revenue recognition by country. SAP S/4HANA Finance functionality also can help you
Centralizing more data with SAP S/4HANA Finance means you can empower more employees with the data, allowing them to use the SAP Fiori interface to access, slice, dice, and analyze it to answer their own questions and inform their specific decision-making needs. But having consolidated data and a single version of the truth means you close your books right away—not just at the end of the month. As accounting and closing errors occur and are rejected, they are sent back to their owners in real time, meaning you don’t have to wait until after the close to find them.
Forecasting and budgeting possibilities
With the visibility and clarity that SAP S/4HANA Finance provides, technology companies can start moving toward more meaningful forecasting and “managing to performance” rather than managing to budget or plan. Real-time reporting and analytics capabilities mean organizations can have instant data on hand to inform forecasting and provide a more accurate view of the future.
The potential payoffs
Adopting SAP S/4HANA Finance to bring new efficiencies to your organization or to support a broader transformation can help unlock a stream of potential bottomline benefits. Effective deployment of the solution can help you:
- Increase speed of reporting, to move beyond a backward-looking view of the balance sheet
- Gain more visibility into transactions as well as the trends they might indicate
- Free up resources to allow your organization to focus more on innovation and growth
- Develop a more responsive and accessible digital repository for regulatory needs
- Connect with us about SAP Concur to get the conversation started and see a demo, or agree for a speaking session to see how Deloitte can help you reimagine everything—an entire universe of possibilities with SAP solutions.
Connect with us about SAP S/4HANA for Finance to get the conversation started and see a demo, or agree for a speaking session to see how Deloitte can help you reimagine everything—an entire universe of possibilities with SAP solutions.