Taking Advantage of Growth Opportunities with SimpleFi Solutions

As more companies make the move to SAP S/4HANA, they are aiming to leverage the advanced capabilities it provides. SAPinsider’s recent SAP S/4HANA Finance State of the Market 2024 – Benchmark Research Report found that the most common driver impacting how organizations approach SAP S/4HANA for Finance deployment is the demand for improved reporting, planning, and insights from finance, listed by 43% of survey respondents

However, organizations do not have to wait until an implementation is completed to begin leveraging these capabilities and driving innovation. Getting a jump on key initiatives like financial planning and analytics (FP&A) can help organizations mitigate the risks associated with an implementation and help steer organizations ahead of a move to SAP S/4HANA.

Growing with FP&A

To utilize the power of FP&A, many organizations are turning to trusted SAP Gold Partners like SimpleFi Solutions. They offer a suite of prepackaged financial planning and analytics solutions that leverage SAP Analytics Cloud to deliver real-time insights and help deliver improved time-to-value via their sister company PlaniFi Platform Analytics.

To demonstrate its effectiveness, SimpleFi Solutions shared the story of how it was able to help alternative medicine company Verano. Headquartered in Chicago, Verano needed to consolidate and report its financials from SAP S/4HANA and establish integrated planning processes. The company wanted to enhance its margin analysis, product costing, and treasury management capabilities.

A growing organization, Verano saw significant opportunities to expand, but struggled with uneven regulations across different states and manual processes bogged down its operations.

To overcome these issues, Verano partnered with SimpleFi Solutions. Verano prioritized SimpleFi because of its track record of success, as well as its flexible development strategies and guidance in handling rapid changes.

Verano saw the need to move to SAP Analytics Cloud, but didn’t want to wait until a full SAP S/4HANA implementation was completed to start reaping the benefits.

Growing at Scale with SimpleFi

SimpleFi Solutions offered PlaniFi’s prepackaged applications, allowing Verano to benefit from the capabilities that SAP Analytics Cloud offers without needing a fully up and running SAP S/4HANA instance, within just a couple months implementation time.

In its earlier days, Verano’s margin and OPEX planning was done in excel spreadsheets. With SimpleFi’s help, Verano was able to make its forecasts not just more accurate, but also include different hierarchies and lead toward tremendous growth.

By understanding its cashflow better, Verano can grow faster and more intelligently. In less than a year, SimpleFi Solutions helped Verano develop better accountability, visibility, and governance. It has access to real-time budget and forecasting changes that are underpinned by improved data, allowing decision-makers to improve how the business operates. Also, Verano can now accelerate new market entries based on the political development around legislation around alternative medicine in various states.