SAP Advanced Financial Closing
What Is SAP Advanced Financial Closing?
SAP Advanced Financial Closing (AFC) is a cloud-based solution designed to help organizations streamline and automate their financial close processes. It provides standardized workflows, task automation, and real-time monitoring to improve efficiency, transparency, and compliance in period-end closing activities. AFC integrates with SAP S/4HANA and other ERP systems, enabling finance teams to manage closing tasks across multiple entities while reducing manual effort and errors.
What Is SAP Advanced Financial Closing?
SAP Advanced Financial Closing (AFC) is a cloud-based solution designed to help organizations streamline and automate their financial close processes. It provides standardized workflows, task automation, and real-time monitoring to improve efficiency, transparency, and compliance in period-end closing activities. AFC integrates with SAP S/4HANA and other ERP systems, enabling finance teams to manage closing tasks across multiple entities while reducing manual effort and errors.
Key capabilities include:
- Closing templates that include best-practice content that uses sequencing and dependencies to fit organizational needs.
- Closing automation that increases the efficiency and speed of close using automation routines and the ability to execute jobs across the landscape.
- Monitoring and insights that achieve real-time insight into the financial close process and help ensure the quality and governance of each close to meet regulatory disclosure mandates.
Key Considerations for SAPinsiders
SAP Revamps Advanced Financial Closing Solution with New Company Code Groups. SAP has introduced Company Code Groups to SAP Advanced Financial Closing, allowing finance teams to streamline and organize financial closing tasks more efficiently. This marks a significant milestone for global enterprises which now have enhanced capabilities to streamline financial operations efficiently across business dimensions.
What you need to know about SAP S/4HANA Cloud for Advanced Financial Closing. This event session provides a detailed overview of SAP’s new Cloud service for close orchestration that can help your company streamline the close for improved efficiency and compliance.
SAP Advanced Financial Closing. Entity close is a key milestone in every company’s record to report process. SAP has a new Cloud service Advanced Financial Closing that can help your company orchestrate the close for improved efficiency and compliance.
11 results
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Blog: SAP Revamps Advanced Financial Closing Solution with New Company Code Groups
SAP has introduced a transformative update to its Advanced Financial Closing (AFC) solution with the introduction of Company Code Groups, allowing finance teams to streamline and organize financial closing tasks more efficiently.
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Improving the Financial Close Process Through Automation and Visibility
Finance teams face increasing demands for efficiency, prompting organizations to adopt automation in their financial close processes; however, only 26% of SAP users implement crucial automated solutions despite over 75% recognizing their importance, underscoring the necessity of streamlining workflows for improved accuracy, compliance, and decision-making.
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Unifying Financial Review Processes with BlackLine
More than ever, decision-makers need insights in real-time to manage their complex financial landscapes. Yet providing these insights is easier said than done. Organizations need to find solutions like SAP Account Substantiation and Automation by BlackLine, financial review option, to provide them with a holistic view of their financial information and the collaborative platform to…
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U.S. Biotechnology Company Reduces End-to-End Close Times
Genentech is a leading biotechnology company that discovers, develops, manufactures, and commercializes medicines to treat people with serious and life-threatening medical conditions. The company’s transformational discoveries include the first targeted antibody for cancer and the first medicine for primary progressive multiple sclerosis. Genentech became a Roche subsidiary in 2009.
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Mastering Journal Entry Management with BlackLine
When it comes to improving the efficiency of the financial close, journal entries are the perfect place to start. Roughly half of all financial close tasks are related to journals. As many finance professionals know, there is significant room for improvement in the journal entry process. Outdated manual processes operating through email or Excel can…
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Accelerating the Financial Close Process: BlackLine Launches 5-Day Fast Track for Mid-Size Organizations
Finance leaders at mid-sized organizations are under increasing pressure. They face requests to enhance the efficiency of the financial close process, yet many have budget constraints that make it more difficult to leverage emerging technologies that can help in this area. BlackLine's recent announcement of their 5-Day Fast Track program seems to be in direct…
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Factors Driving Financial Close Transformation
In this post, we will explore the drivers behind why organizations are overhauling their financial close strategies and procedures. In SAPinsider’s Financial Close Transformation report, most respondents surveyed either agreed or strongly agreed that their organization’s financial close processes and technologies are too reliant on manual methods and legacy tools. Outdated manual tools and methods…
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Automating Your Financial Consolidation Process Using Automatic Jobs and Job Templates
Consolidating data can be difficult, as users must take time to validate its quality. This process can be made more difficult in complex environments and organizations. One of the top tools at the disposal of SAP users for this process is SAP S/4HANA Group Reporting. The product allows users to created automatic jobs and templates…
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Advanced Financial Closing
The entity close is a key milestone in every company's record to report process. SAP has a new Cloud service advanced financial closing that can help your company orchestrate the close for improved efficiency and compliance. Attend this session to: •See the solution in action •Learn how SAP S/4HANA Cloud for advanced financial closing can…
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A Look at Current SAP Marketplace Trends
SAPinsider recently sat down with an expert in the SAPinsider community, Rohana Gunawardena, Director – SAP Practice, Exium Inc., to discuss some of the trends he’s seeing in the marketplace. A Major Priority for Finance Company CFOs A big priority for SAP customers in the finance industry right now, says Rohana, is making the monthly…
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