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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Navigating Manual Journal Entry Challenges in SAP for a Streamlined Financial Close
In SAP, every transaction is a journal entry. The system doesn't differentiate between manual and automatic entries, making it hard to analyze them in the general ledger. Even though SAP ERP can create many journal entries automatically, manual corrections and inputs are still essential. Manual entries are often made for unique or irregular transactions that…
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Performing Horizontal Business Combinations or Horizontal Mergers in SAP Group Reporting
Mergers & Acquisitions is a very complex topic, and SAP Group Reporting has many M&A Scenarios that support your financial process using the difference Consolidation Activities used as part of the Consolidation of Investments (COI) Task. Some of the scenarios that SAP Group Reporting can perform are: • Increase in capitalization. • Reduction in capitalization…
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Enable a Successful Move to SAP S/4HANA with Smart Close
Moving to SAP S/4HANA is a strategic decision for most organizations and a key component of a broader digital transformation. Finance and accounting expertise is critical to success, yet many F&A teams struggle tofind adequate resources to support, as traditional financial close and compliance responsibilities, coupled withother demands on their time, limit capacity. In this…
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SAP’s Cloud-First Approach: Implications for Finance Leaders
SAP has recently signaled a shift in its strategy: innovation will be channeled through SAP’s public and private clouds, primarily via programs like RISE with SAP. The goal is to deliver innovation faster and more efficiently, aligning with the prevalent industry trend of favoring cloud solutions for agility. This has led to concerns from organizations…
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Hilti’s Journey to S/4HANA with Serrala’s AR Automation
In this webinar Hilti Group will delve into their remarkable experience in optimizing the most critical AR (Accounts Receivable) process during the transition to SAP S/4HANA. This will be a unique opportunity to learn how Hilti used Serrala’s automation to take their AR process to the next level while also completing the largest, single day,…
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Automate Financial Processes to Improve Productivity and Drive Powerful SAP Insights
Is your finance team wasting time on manual FICO data entry instead of prioritizing strategic tasks? There is a better way to increase month-end efficiency and reduce the time spent closing the books – and automation is key. Join SAP financial reporting and automation expert Tim Curtin on October 19th as he demonstrates how to:…
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Growing Compliance Complexity Driving Approach to Tax Planning, Tax Technology and Innovation
The global tax landscape has become increasingly complex, as governments around the world are changing the ways that they monitor companies and ensure compliance. SAP S/4HANA-enabled transformation has far-reaching impacts on tax departments, including Direct Tax, Indirect Tax, Transfer Pricing, and Trade & Customs. To explore the implications on tax planning, tax technology, and innovation,…
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Enhancing Financial Operating Efficiency with Finance4U Regulatory Accounting and Reporting on SAP S/4HANA
Organizations that work in industries that face the burden of heavy regulations face an uphill battle in their day-to-day business. These companies, spanning industries such as utilities, energy, telecommunications, and railways, face ever-increasing borrowing costs, which increases the costs for asset construction. This also makes it more complicated for these companies to maintain target rates…
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Melissa Di Donato Ascends to CEO Role at Kyriba: What It Means for SAP Finance Leaders
Melissa Di Donato has recently been announced as the new CEO of Kyriba. Melissa Di Donato is not new to the enterprise software arena. Her impressive professional journey spans leadership roles at prominent firms like Salesforce, IBM, and Oracle, in addition to SAP and SUSE. In this article, we will examine what this appointment means…
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Transforming Invoice Management in SAP with Insights from OpenText’s Matthias Niessen
Invoice management is an essential operation for many businesses, yet all too often these functions are handled manually. This can cause payment discrepancies, processing issues, delayed payments, and limited visibility. These challenges grow even worse as many companies process invoices manually across multiple systems external to SAP ERP. To help address these challenges, OpenText introduced…
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