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.
1271 results
-
Premium
SAP S/4HANA 1610 Material Ledger Actual Costing: Understand the Fundamental Changes and the Impact on Conversion
Learn and understand the massive changes in material ledger actual costing with SAP S/4HANA 1610. See how the technical and functional changes to this version of SAP S/4HANA affect organizations that use actual costing in a source system and are migrating from earlier SAP S/4HANA releases to SAP S/4HANA 1610. Key Concept Significant functional and...…
-
Optimizing Financial Workflows: How SAP Journal Entry Solutions Can Transform Your Business
Promenta’s SAP journal entry solutions enhance financial workflows by automating tasks, integrating systems, and providing analytics, resulting in improved efficiency, accuracy, compliance, and strategic focus for organizations. Fill out the form below to read the full blog!
-
- Premium
How to Achieve Speed, Control, and Compliance during an Entity Close Using SAP GRC 10.0
Learn how to use SAP GRC 10.0 to improve control and accountability while automating manual activities and providing centralized access to documents during a closing cycle. Key Concept An improved closing cycle benefits the entire organization. A truly successful closing cycle focuses first on control and accountability as a means to achieve acceleration, thereby empowering...…
-
Desire for Modern F&A Skills to Support Financial Close Transformation
As digital technologies continue to evolve, the transformation of the financial closing process represents a crucial priority for finance and accounting professionals and organizations. Automating routine closing cycle tasks can enable F&A teams to drive enhancements across the financial closing cycle. This is one of the key takeaways from the SAPinsider Financial Close Transformation benchmark…
-
- Premium
How to Automate Period Closing Within Controlling
Learn how to schedule the period closing transaction for Controlling (CO) using a new program. Key Concept RKCOOKP1 is a program that enables you to schedule the transaction for closing within Controlling (CO) as a background program in an SAP system. SAP has developed two enhancements for this program: RKCOOKP1_MORE and RKCOOKP1_MULTI. Normally the transaction...…
-
- Premium
Optimize Your Statutory Reporting Tasks Using SAP S/4HANA for Advanced Compliance Reporting
In multinational organizations, reporting requirements are increasing day by day. Keeping track of all the reports generated and submissions can consume a lot of time and resources. The reporting format also changes over time due to changing regulations, and compliance with this format is of the utmost importance. Learn how to use SAP S/4HANA for...…
-
Elevated Need for Financial Close Transformation Across Mid-Market Organizations
Mid-market organizations recognize the need to transform their financial close processes to improve financial closing efficiency. Findings from SAPinsider’s Financial Close Transformation benchmark report show that 76% of mid-market survey respondents still heavily rely on manual methods and legacy tools during the closing cycle, resulting in financial close inefficiencies. It helps explain why automation is…
-
- Premium
SAP S/4HANA Adoption: Subsequent Implementation of the Parallel Ledger
Learn various SAP S/4HANA adoption options available for companies running the classic General Ledger. Follow steps to introduce the ledger subsequently in a live SAP S/4HANA system. Key Concept SAP introduced the parallel ledger concept with the SAP ERP Central Component (ECC) system in 2005, and since then, it is gaining popularity due to its...…
-
- Premium
Tackle Changes to Inventory, Cash Flow, and Benefit Regulations with SAP ERP
Review some accounting standard changes, including changes to foreign exchange rates, inventory, and benefits, and see how the SAP ERP system can address them. Key Concept The driver of International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) is the need to bring uniformity and consistency to accounting practices and reporting across the globe....…
-
- Premium
Prepare for IFRS with the Starter Kit for IFRS for SAP BusinessObjects Financial Consolidation
The adoption of International Financial Reporting Standards (IFRS) as part of a global international accounting convergence can be expensive for your company because it is an implementation rather than just an accounting or reporting project. Learn about the latest starter kit from SAP for its SAP BusinessObjects Financial Consolidation application, which can speed up and...…
Featured Insiders
Upcoming Events
Related Vendors
Your request has been successfully sent