• SAP Advanced Financial Closing
• Research Reports

Automating the Record to Report and Financial Close Process

• 

  Rizal Ahmed

  SAPinsider

• 

  Grant Suneson

  Editor SAPinsider

Key Takeaways

• Many companies rely on outdated manual methods for record-to-report and financial close processes, leading to inefficiencies and errors.

• The adoption of AI and automation by SAP organizations can significantly enhance efficiency and accuracy, though results vary across different companies.

• The transition to SAP S/4HANA is integral to improving financial workflows, highlighting the need for strategic investments in financial close and record-to-report technologies.

Read this report to learn how financial close and record-to-report processes are hindered by outdated manual methods, while highlighting the potential of AI and automation to enhance efficiency and reduce errors, as reflected in a survey of SAP finance professionals regarding current transformation strategies.

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The record-to-report and financial close processes are essential workflows for finance and accounting teams. Many companies still rely on manual methods and outdated tools to perform these essential tasks. Whether it involves spreadsheets or emails, these legacy practices can result in inefficiencies and errors throughout these processes.

To overcome these issues, many SAP organizations are beginning to leverage advanced capabilities like AI and automation. If used correctly, these tools can help accomplish essential tasks, maximize efficiency, minimize errors, and allow finance and accounting teams to spend their time on other important work. Yet not all companies have started implementing AI and automation, and those that have reported mixed results in these endeavors.

To give our readers a better sense of the AI and automation landscape as it applies to the financial close and record-to-report processes, SAPinsider surveyed 108 members of the SAP finance and accounting community from August 2024 to January 2025. The survey aimed to understand evolving financial close and record-to-report transformation strategic priorities among SAP customers.

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Download here to access the full benchmark report with industry peers’ insights, strategies, and best practices.

• Learn about essential drivers influencing the ways that organizations leverage and deploy technologies in the financial close and record-to-report space
• Understand the importance of AI and automation and how companies are utilizing these technologies to drive their overall financial transformation initiatives.
• Gain insight into how these processes fit into the move to SAP S/4HANA, as well as making overall finance workflows more efficient.
• Discover strategies for finding the best technologies that reduce manual tasks and ensure compliance, underscoring the importance of investment in financial close and record-to-report solutions.

   Click here to download the Benchmark Report 

   Click here to download the Detailed Findings Report

 

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