Financial Services

Financial Services is a crucial industry for SAP. Financial services companies face many growing challenges, including ever-changing regulations, evolving consumer expectations, economic instability, and increased competition brought on from digital-only organizations. These drivers make it imperative to transform and become more efficient, better engaged, and resilient.

SAP and Partner Solutions for Financial Services (H2)

There are many solutions in the SAP ecosystem that are relevant to the Financial Services sector:

SAP and Partner Solutions for Financial Services (H2)

There are many solutions in the SAP ecosystem that are relevant to the Financial Services sector:

Digital Customer Engagement is about modernizing the way companies reach consumers, which can include omnichannel commerce, customer experience management, digital banking, customer analytics, and marketing offerings.
Finance and Risk solutions help companies stay compliant and avoid risk by touching on Governance, Risk, and Compliance (GRC) functionality, financial planning and analysis, data services, reporting, and accounting for financial instruments.
Banking Operations tools aim to help those in the banking industry with key functions including card management, retail services, payments, cash and liquidity management, and commercial lending.
Total Spend Management is about helping companies get a centralized view of spend by combining multiple cloud offerings around procurement, vendor management, sourcing and contracting, invoicing and payables, travel reimbursement, and analytics.
HCM and HXM solutions help organizations with recruiting, onboarding, talent management, and more.
Core ERP systems act as a system of record for key transactional information.

The financial services sector is turning to technology to assist with becoming more digital and more relevant to consumers. At the same time, they are looking to build processes and systems that can provide centralized views of data around customers, compliance, risk, finance, and employees.

Key Considerations for SAPinsiders

Financial services companies are utilizing SAP and partner solutions as part of their transformation programs within a variety of focus areas, including security, automation, and digitization.

How Zurich North America used BlackLine to move to SAP S/4HANA. Read this case study to hear about Zurich North America’s SAP S/4HANA migration, including how it utilized Blackline Solutions for Automation & Control during the project.
Swiss Federal Administration planned its SAP S/4HANA move with security design in mind. Read this case study to learn how the Swiss Federal Administration managed SAP Security within its SAP S/4HANA migration.
Deutsche Börse Group’s approach to digitization, process redesign, and defining sustainable user journeys. Read this Q&A to learn about Deutsch Börse Group is transforming its SAP landscape while also transforming its business overall.

- SAP Global Tax Management
Is Your Tax Technology Future Ready?

Reading time: 3 mins

Having the right tax technology in place is crucial for dealing with the many changes in the global tax landscape. Digital-era tax compliance demands are challenging companies, putting them at risk for non-compliance and pressuring them to move away from spreadsheets and ad hoc practices. Reliance on such homegrown applications is no longer an option…
- SAP Finance Automation
Effective Capture Is the First Step in Digital Transformation

Reading time: 2 mins

Even with all the hype about digital transformation, companies still receive information via traditional methods such as paper, email, and fax. Automating the conversion and understanding of these structured and unstructured inputs helps reduce manual data entry and cost, freeing business users to work on more valuable tasks. Capture technology gathers more information for analytics…
- SAP Finance Automation
Live from SAPinsider Studio: Transcending Finance’s Leadership Role

Thack Brown, Senior Vice President at SAP, summarizes his keynote address from the Financials/GRC 2017 conference held in Las Vegas, Nevada. Topics covered include: The various ways that finance professionals roles are currently changing How SAP solutions are helping customers evolutions in the finance space Key examples of customer successes... Membership Required You must be a member…
- SAP Currency Risk
- Premium
Multi-Currency Accounting with SAP S/4HANA

Reading time: 15 mins

Learn how to use the SAP multi-currency accounting (MCA) feature in SAP ERP Central Component (ECC) as a part of the normal Business Suite license. It is based on an internationally accepted accounting principle to record foreign currency items, primarily in the banking industry. Furthermore, banks should be able to report their currency exposure or...…
- SAP Fiori
- Premium
Boost Productivity in SAP S/4HANA by Using Fiori Apps for Financial Transactions

Reading time: 10 mins

Learn how to create an improved end-user experience by combining SAP Fiori with the SAP S/4HANA engine. Key Concept The new user experience (UX) that SAP Fiori enables through its intuitive interface and performance-optimized navigation helps you take advantage of the many financial apps that leverage SAP S/4HANA. For example, running the SAP Fiori Trial...…
- SAP AR AP
- Premium
Ease Reporting by Enhancing Your Security Deposit Conversion Process in FI-CA

Reading time: 14 mins

Learn about the enhanced functionality of the security deposit conversion process based on security deposit request reasons in SAP contract accounts receivable and payable (FI-CA). The enhancement involves the posting of security deposits in the SAP system so that they can be easily identified on the basis of request reasons through standard SAP reports. The...…
- SAP AR AP
- Premium
Great-West Financial Establishes Its Mobile Footprint

Reading time: 8 mins

In today’s fast-paced, digital world, employees are more likely to prefer the convenience of a smartphone app than the rigidity of an on-premise one. This was certainly true at Great-West Financial, a life insurance and retirement services provider that hundreds of thousands of customers rely on. Executives and managers could only access their invoice workflows…
- SAP Cost Center Accounting
Live from SAPinsider Studio: AIG’s Cost Allocations in SAP

Sharath Muthyala, IT Lead, EPM, AIG, joins SAPinsider Studio to discuss cost allocations and how his company built a new CAS (cost allocation system) engine in SAP for a more granular, product-level view of allocation processes. This is an edited transcript of the discussion: Ken Murphy, SAPinsider: Hi, this is Ken Murphy with SAPinsider. I’m...…
- SAP S/4HANA Finance
- Premium
Swiss Re Transforms Its Reinsurance Finance Division with SAP S/4HANA Finance

Reading time: 4 mins

The global 2008 financial crisis presented a multitude of challenges for companies in the insurance industry, including higher pressure on margins and strict regulatory reporting requirements. Swiss Re, a global provider of leading wholesale resinsurance and insurance, was not immune to these challenges. To help overcome these hurdles, Swiss Re undertook a multi-year finance transformation…
- SAP S/4HANA Finance
- Premium
New York Life Plans Bright Future for Finance

Reading time: 6 mins

New York Life Insurance Company, one of the largest life insurers in the world, is responding to the dramatic changes sweeping through the business world by accelerating its evolution into a more agile enterprise. In particular, the organization is speeding up analytics for real-time insight and improving process efficiencies around data access and management. Discover…