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What is SAP Central Finance?
SAP Central Finance offers a comprehensive and unified solution for SAP customers looking to consolidate their SAP landscapes. Organizations can leverage SAP Central Finance as a deployment option that helps finance and accounting teams transition to the SAP S/4HANA Finance system without impacting the current system landscape. SAP customers using SAP Central Finance can integrate the local system landscape into one common data model that allows for a single version of the truth across all company entities, which can be used for consolidation reporting and analysis. This way, organizations can implement uniform financial reporting without changing or adapting their existing systems and processes. Data replication from a source system to SAP Central Finance requires a SAP Landscape Transformation Replication Server.
What is SAP Central Finance?
SAP Central Finance offers a comprehensive and unified solution for SAP customers looking to consolidate their SAP landscapes. Organizations can leverage SAP Central Finance as a deployment option that helps finance and accounting teams transition to the SAP S/4HANA Finance system without impacting the current system landscape. SAP customers using SAP Central Finance can integrate the local system landscape into one common data model that allows for a single version of the truth across all company entities, which can be used for consolidation reporting and analysis. This way, organizations can implement uniform financial reporting without changing or adapting their existing systems and processes. Data replication from a source system to SAP Central Finance requires a SAP Landscape Transformation Replication Server.
Key capabilities include:
- Consolidated reporting and analysis across all company entities
- Ability to centrally manage your SAP landscape, including system maintenance, patching and upgrade
- Integration with SAP and non-SAP systems
- Accelerated finance-focused deployment and configuration
Key Considerations for SAPinsiders
Carefully evaluate decision points that will impact finance transformation initiatives during migration to SAP S/4HANA Cloud. The SAP Central Finance implementation of SAP S/4HANA is a key component in the digital transformation strategy for many enterprises. Its scope ranges from single to multiple entities, making it a versatile tool for enterprise organizations. In addition, SAP S/4HANA offers a digital core that helps to enable the intelligent enterprise. At the heart of this digital core is SAP Central Finance, a key component that can help organizations achieve finance transformation.
Develop a comprehensive project plan for SAP Central Finance to ensure a successful transition to SAP S/4HANA Finance. As organizations migrate to SAP S/4HANA, decision makers must evaluate the needs of the organizationand the resources that finance teams and IT will require to enable financial transformation. Organizations may want to consider hiring additional staff or partnering with technical consultants or SAP experts. In the case of SAP Central Finance, a deployment option for SAP S/4HANA Finance, organizations will require technical resources and expertise to support the system properly.
Explore enhanced functionality of a modern financial system powered by an intelligent enterprise platform. While transitioning to SAP S/4HANA Finance may require some effort, it is certainly possible, and many companies are already benefiting from the improved functionality and efficiency. SAP Central Finance is a method to bring financial data from multiple ERP systems into one single system of record. With SAP Central Finance in place, organizations can enjoy greater visibility and control over their financial data, streamlined processes, and reduced costs.
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Successfully Manage Data Integration Challenges within SAP S/4HANA Central FinanceJul 7, 2021 — When considering a move to SAP S/4HANA Central Finance, does your plan fully address how to integrate your existing non-SAP source system data and master data into your Central Finance implementation? Discover how adding SAP Solution Extensions by Magnitude for SAP S/4HANA can facilitate and accelerate data integration for your move to Central Finance. This session will offer expert insights into overcoming the common challenges encountered when integrating financial data such as including, transaction detail, error handling, reconciliation, and master data harmonization.
Attend this session to:
- Examine the complexities of building a solution for Central Finance and receive expert advice for enabling agile, intelligent finance operations
- Explore the benefits of enabling intelligent data integration for Central Finance to improve efficiency and effectiveness
- Discover how to integrate transactional and master data into SAP S/4HANA for Central Finance utilizing SAP solution extensions to reduce cost and risk
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SAPinsiders Shift FocusJul 6, 2021 — Activity and interest in SAP S/4HANA are accelerating as companies reinvigorate their investments in SAP and overall technology. This conclusion continues to be reenforced across all of SAPinsider’s 2021 research. Our findings show that actual implementations are increasing over the past year. Companies are now leaving the evaluation phase and beginning their projects.
This year’s study indicates that 42% of survey respondents have implemented or are in the process of implementing SAP S/4HANA. That’s a 10% jump over the 2020 findings. Those that are already using SAP S/4HANA rose from 17% to 24%, while those in the implementation phase went from 15% to 19%.
For those companies that are still waiting it out, the top impediment to progress has been COVID-19. But now companies are ready to get back to business and start thinking about this potential move. Over the past year, it’s become clear that as organizations build out their transformation initiatives, the foundation of these efforts focuses on process efficiency, automation, and standardization. This came out loud and clear from all of SAPinsider’s early 2021 research.
According to our March SAP S/4HANA study, the top drivers shaping business and technology strategy continue to focus on re-engineering business processes and correcting legacy customization and inefficiency. Nearly half (45%) cited this as a top driver. Behind this focus on process renovation and efficiency is the need to continuously support innovation and the changing needs and expectations of users. This priority was relatively new to the research but is gaining significant interest.
Read this article and learn:
- How companies are combatting the pain of excessive customization and manual processes in ways that blend both standardization and automation approaches;
- How business and technology strategies are being shaped by the need for clear visibility into finance and operations;
- Why many organizations are looking at Central Finance as a deployment option;
- Why the cloud is a de-facto option that many companies are considering in conjunction with their SAP S/4HANA migration.
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Enabling SAP S/4HANA Central Finance and Group ReportingJun 30, 2021 — Perrigo is a global, leading provider of over-the-counter (OTC) self-care products across various OTC categories. Headquartered in Ireland, Perrigo’s international presence has grown dramatically over the years, accelerated particularly in the last decade or so by acquisitions that enhanced its product portfolio and geographic reach. Layering in additional tools and technologies from each new acquisition has created a multifaceted finance landscape at Perrigo, with the company maintaining 21 separate enterprise resource planning (ERP) systems, both SAP and non-SAP, and multiple financial planning and consolidation tools.
Perrigo saw SAP S/4HANA for central finance as a potential enabler for a non-disruptive, finance first approach. SAP S/4HANA for central finance has become the conduit for all financial data at Perrigo, significantly reducing the data movement between multiple consolidation and financial planning tools. All source ERP financial data is now harmonized and posted directly to SAP S/4HANA for central finance either through real-time replication or month-end trial balance loads, creating a single source of truth for the Perrigo finance organization.
Read this case study and learn:
- How Perrigo created a single source of truth for its finance organization;
- About the steps taken to complete its SAP S/4HANA for central finance project in two distinct releases; and
- Which areas of its global enterprise structure design the company invested in as part of its implementation project.
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A Roadmap for Your Financial Transformation Journey Leveraging SAP SolutionsJun 30, 2021 — According to Gartner, finance teams are constantly asked to do more with less. As a result, 85% of finance teams are currently undergoing or planning a finance transformation. However, 70% of finance transformation initiatives fail to deliver the forecast benefits to the business. Join this session to review all the elements of a successful roadmap enabling you to succeed in your finance transformation journey.
Attendees will discover how to:
- Identify the business challenges that need to be addressed in terms of People, Process and Technology
- Understand the technical and business consideration to migrating/upgrading to SAP S/4HANA, Central Finance to leverage the complete potential of solutions to make Finance Transformation a success
- Devise an IT strategy to simplify technology landscape with SAP S/4 HANA, Central Finance
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Keynote | 2021 Finance Priorities: Driving onward and upward in the wake of disruptionJun 8, 2021 — Over a year into the economic disruption caused by COVID-19, most organizations are ready to move on, apply the lessons learned from the past, and reinvigorate their innovation agendas and strategy. While many have had to reset and reprioritize, most finance leaders are now reinvesting in their business and technology portfolios and are ready to transform their finance strategy while strengthening their skillsets and solution portfolios. This interactive panel will inspire you to think differently about your own 2021 priorities as you:
- Learn what’s topping the agenda of finance executives when it comes to process reinvention, SAP S/4HANA and Central Finance, tax, compliance, and other key initiatives
- Discover what actions are critical for finance organizations as they navigate the aftermath of the events of 2020 that are still impactful in 2021
- Find out in which technologies and projects finance teams are investing, how they may be altering their approach, and how they measure success
- See how the meaning of finance transformation is evolving and how this impacts the entire finance and accounting organization
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Enabling SAP S/4HANA Central Finance and Group Reporting at PerrigoJun 8, 2021 — The audience will learn about Perrigo's SAP S/4HANA Central Finance implementation journey, Attend this session to learn:
- Why they are doing it
- Why it is different than others
- What was established and decided during the preparation on scope, roadmap and tool
- Implementation experience and lessons learned till date
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SAP Central Finance: Decision pointsJun 8, 2021 — SAP Central Finance represents a key option in your path SAP S/4HANA. This session offers a clear explanation of what SAP Central Finance is and when and how it should be considered as part of your overall migration to SAP S/4HANA. Learn about the key intelligent enterprise capabilities of the digital core for reporting, central process execution, shared services, and finance transformation with Central Finance. Walk through the why, how, what, and when of Central Finance and plot your course toward transformation. Attend this session to:
- Explore capabilities including robotics process automation, machine learning, and cloud-based network and spend management
- See how Central Finance leverages the intelligent enterprise
- Learn about patterns for deploying the intelligent enterprise with Central Finance
- Walk through key considerations and criteria to help you navigate your decision whether to adopt this a short or long-term solution
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SAP Central Finance Panel DiscussionJun 8, 2021 — SAP Central Finance represents an important deployment option for SAP S/4HANA in large enterprises, for multi-ERP customers with heterogenous system landscapes, and now also more and more single system instances.
Who better listen to than actual customers having been there, having done it? Join this interactive panel session and learn from real-world customers about their motivations, experiences, challenges as well as benefits and outcomes. Glean insights from real the challenges they faced so that you can thoroughly evaluate this option as part of your transformation and SAP S/4HANA journey.
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SAP S/4HANA Finance and Central Finance: State of the Market 2021 Benchmark ReportMay 28, 2021 — In This Report: Finance and accounting teams are prioritizing visibility, simplicity, and automation as they solidify their strategies and investments for 2021. While system complexity and data siloes have stifled efficiency and the ability to derive insights for many years, business and IT leaders realize that they can no longer operate competitively and efficiently within […]
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A detailed primer on Central FinanceMay 26, 2021 — SAP Central Finance is the key deployment option for S/4HANA in large enterprises, for multi-ERP customers with heterogenous system landscapes, and now also more and more single system instances.
Join this session to get a primer (if you are new to SAP Central Finance, or join to get a refresher or are looking for some due diligence on what you might have missed, or forgotten, or what was introduced since you first started looking into Central Finance. You will understand:
- The core mission, vision, and concept of Central Finance
- How SAP Central Finance fits with SAP S/4HANA and SAP RISE
- Important details surrounding SAP Central Finance as a product and other technical prerequisites and requirements
- Integration between SAP and non-SAP source systems and Central Finance
- How Central reporting functions including benefits and requirements
- How central transaction processing and what the benefit is
- How SAP Central Finance drives Finance transformation
- Use cases and customer success stories
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