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:
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:
- 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.
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Empowering FP&A Teams: Building a Culture of Analytics for Adapting to the ‘New Normal’
For organizations, the definition of ‘normal’ is constantly changing. Access to data is no longer enough for organizations. Organizations need to convert data into insights to create enough knowledge to make better, faster, and smarter decisions. However, traditional data analytics methodology, forecasting, and scenario planning are rendered useless by the pace of change that the…
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Benefits of Bringing Consolidation and Financial Reporting Processes Online
As businesses grow more complex, the need for accurate and timely financial reporting has never been greater. Unfortunately, legacy and manual methods for financial reporting often need help to keep up with the pace of business. Early findings from our Financial Close Transformation benchmark report, exploring the strategic priorities of SAP organizations across the financial...…
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Accelerating the Financial Close Process
In this article, you'll explore how solutions like FS2 JournalEntry automate processing, review and approval of all manual journal entries (recurring, intercompany, FX, etc.) and enables accurate and transparent reporting. The solution validates accounting information (e.g., cost centers) at initial upload/creation, automates the processing of non-PO invoices and expenses, enables touchless payment processing and provides…
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Webinar On-Demand: Cash Management and Cash Visibility Research
The growing demands of the finance function to keep pace with evolving business models have introduced new challenges and opportunities that require executives to rethink how they manage their organizations' cash flow. To stay competitive, companies must develop strategies that provide greater transparency into their end-to-end cash flow processes across all functions, workflows, and systems…
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Serrala and BNP PARIBAS announce AR automation global referral partnership
by Ogo Nwanyanwu, Research Director, SAPinsider BNP PARIBAS to extend AR automation offering from Serrala to enterprise customers Serrala and BNP PARIBAS have agreed on a global referral partnership to support the implementation of AR Automation solutions for BNP PARIBAS enterprise customers. The referral partnership expands BNP PARIBAS’s service offering the Serrala Accounts Receivable Automation portfolio, covering the order-to-cash (O2C)...…
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How the Swiss Federal Administration planned their SAP S/4HANA move with security by design in mind
Hardly any other domain has changed as much as cybersecurity in recent years and ensuring SAP security in a dynamic environment is a constant challenge. As SAP Systems are being more integrated with other (Cloud) solutions, they are nowadays increasingly exposed to higher risks. The extensive use of cloud components is changing the attack vectors…
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From Push to Pull: Deutsche Börse Group’s Approach to Digitization, Process Redesign, and Defining Sustainable User Journeys
If you only try to force change from the top, you will not be able to build sustainable results. Many CIOs fall into a common trap when trying to drive their transformation projects – implementing too much too soon without getting enough support from their teams and line of business stakeholders. In this article, Lars…
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Data Warehouse Overhaul Helps Helvetia Simplify Reporting and Analytics for HR — to Start
Data warehouses serve as a central repository for information coming from multiple internal and external sources, enabling businesses to perform reporting and analytics and turn data into insights. For a company like Helvetia Group, which has been insuring products ranging from private and occupational pensions to liability, motor vehicle, transport, and property insurance for more…
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How Zurich used BlackLine to move to SAP S/4HANA
Zurich North America Uses BlackLine Solutions for Automation & Control During Transformation Find other insightful content from BlackLine on their Vendor Showcase
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FS² Collections: Improved Collection Efficiency
Learn how to optimize the management of past-due accounts and reduce days outstanding (DSO), for fast and cost-effective receivables management.
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