Mar 16-19, 2026Las Vegas, Nevada, NV
SAP Advanced Financial Closing
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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.
17 results
U.S. Biotechnology Company Reduces End-to-End Close TimesAug 2, 2024 — 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.
1 minute read
Accelerating the Financial Close Process: BlackLine Launches 5-Day Fast Track for Mid-Size Organizations Aug 15, 2023 — 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 response to these challenges. It offers rapid deployment in as little as five days and strategic alignment to streamline and innovate.
2 minute read
Improving the Financial Close Process Through Automation and VisibilityFeb 7, 2025 — 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.
2 minute read
Blog: SAP Revamps Advanced Financial Closing Solution with New Company Code GroupsFeb 19, 2025 — 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.
5 minute read
Factors Driving Financial Close TransformationApr 20, 2023 — 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 can lead to delays and errors, which can prove costly in the long run. Finance teams must run jobs, monitor outcomes, and manage dependencies. These tasks must be done in a specific order, so one delay early in the process can cause a domino effect, delaying each subsequent task.
We will also explore how companies can maximize efficiency within the process, and some key takeaways to enable a long-term proactive financial close strategy.
2 minute read
Can Your AI Assistant Help You Close Your Books Faster? Trintech Says YesJan 8, 2025 — As Artificial Intelligence permeates more and more aspects of both life and business, you are seeing the increasing introduction of AI assistants and interfaces being rolled out by SAP and other software partners. In the finance world, more and more customers are looking to practical applications of AI to automate mundane tasks, reconcile data and […]
3 minute read
Transforming Finance Operations with Touchless Record-to-Report by RedwoodApr 15, 2024 — Automation streamlines organizational processes by replacing manual tasks like journal entries, currency revaluations, and reconciliations for intercompany and bank accounts with automated systems. This not only simplifies the execution of numerous tasks required during financial close but also ensures they are completed in the intended sequence. Redwood's technology significantly automates the record-to-report (R2R) process, handling up to 90% of tasks involved in financial closing, both within and beyond ERP systems. This includes complex activities such as managing accruals, data retrieval, and updating journals in the ERP system. The automation spans the full R2R spectrum, covering areas like balance sheet reconciliation and integration with non-ERP applications such as HR and Payroll. Redwood's solutions are comprehensive and can operate both independently and together, offering flexible deployment options including on-premises and cloud-based solutions. This broadens the scope of automation beyond traditional R2R tasks to enhance efficiency in areas like goods and bank reconciliations, meeting wider data-matching needs.
3 minute read