Recent years have seen a dramatic shift in how businesses operate, particularly across finance function automation and transformation. Multiple factors are driving this shift, including the need to improve efficiency and reduce costs. In fact, most SAPinsiders view increasing the efficiency of core finance functions, such as consolidation,
financial reporting, and forecasting, as a core driver of the strategic priorities targeting finance functions.
As a result, many organizations are now looking for ways to quickly deploy solutions that will enable them to realize these benefits. One way of doing this is to use well-defined pre-configured processes that organizations can implement relatively quickly. This allows businesses to get up and running with a solution much more rapidly than possible and realize the benefits of automation and transformation much sooner. For example, rather than manually consolidating financial data from different sources, an organization can use an online consolidation solution to help quickly and accurately consolidate data from multiple sources, saving time and reducing the risk of errors. Similarly, rather than relying on manual processes for financial reporting, an organization can use preconfigured reports that are automatically generated based on the latest data. This can improve the accuracy and timeliness of reports and reduce the time needed to generate them. Overall, preconfigured processes can help organizations quickly realize the benefits of automation and transformation without incurring the costs and delays often associated with traditional implementation approaches.
This area is attracting a lot of business attention, so SAPinsider recently sat down with Jonathan Essig, CPA, Managing Partner at
SimpleFi, to provide insight on this critical topic within our SAPinsider finance community. During our conversation, Mr. Essig invited the SumUp Group executive team, Aleksandar Ivanov, Senior Manager of Financial Control, and Miroslav Lazarov, SAP Analytics Cloud Specialist, to share their business innovation story. In addition, they demonstrated how they leveraged SimpleFi's preconfigured solutions to automate consolidation and financial reporting functions.
Read the Technology Insight article
here.
Watch the video of the conversation here:
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