Key Takeaways
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SumUp successfully transitioned from a manual, Excel-based financial consolidation process to an automated SAP Analytics Cloud solution, achieving faster, more accurate reporting and consolidation for its 60 subsidiaries.
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The implementation, completed in just over two months and under budget, provided SumUp with enhanced granularity, automated financial statements, and seamless integration with both SAP S/4HANA and non-SAP systems.
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SimpleFi's SAP Analytics Cloud solution delivered significant efficiencies, eliminating manual error-prone tasks, and providing robust reporting and analysis capabilities, enabling SumUp to scale and adapt to its rapid growth and acquisition activities.
SimpleFi proposed to SumUp that by leveraging our internally developed pre-packaged SAP Analytics Cloud Consolidations content we could deliver for them a consolidation solution that would meet their requirements for a fraction of the cost. Even better, SimpleFi could implement this solution for them in just over 2 months as much of the prepackaged content met SumUp requirements out of the box. To add to the value proposition even further, using SAC instead of Group Reporting means that the reporting and analysis tools are built into the solution (all in SAC). In SumUp’s case, having the consolidation “engine” and reporting all in one single SAC based solution made a lot of sense.
Two months later and slightly under budget, the design, build, and UAT have been completed, and SumUp is embarking on a 2-month parallel. SumUp is incredibly satisfied with the solution and pleasantly surprised with the training, knowledge transfer, and documentation that SimpleFi has provided so that SumUp can own and manage the solution themselves.
Company Name: SumUp
Industry: Payment Processing
Annual Revenue: ~$1B
Project Requirements:
■ Financial Consolidation of 60 subsidiaries
■ Automated Financial Statements (Balance Sheet, Income Statement, Cash Flow).
■ Elimination Entries, Currency Translation (Closing, Average & Historical Rates), Journal Entries, Balance Carryforward
■ S/4 General Ledger Integration. Flat file uploads for Companies not running on S/4.
Summary: SumUp Inc. (SumUp) is a financial technology company that was created to give small business owners the ability to be successful doing what they love by taking the hassle out of getting paid. The company offers a range of card readers and financial services (including invoices, gift cards, payment links, and much more) to the millions of businesses that are considered too small to be serviced by most banks and traditional providers. Today, over 3 million businesses rely on SumUp to get paid easily and affordably, no matter their size.