Jan 14, 2021
•3 minute read
SAP Central Finance
SAP Central Finance is a deployment option within SAP S/4HANA that enables organizations to consolidate financial data from multiple SAP and non-SAP systems into a single harmonized finance system. Rather than requiring a full system migration, Central Finance allows companies to replicate transactional data from source systems into a Central Finance instance, creating a unified financial platform for reporting, consolidation and process innovation without disrupting existing system landscapes. SAPinsider covers SAP Central Finance strategy, implementation and SAP S/4HANA migration use cases.
What is SAP Central Finance?
SAP Central Finance (CFIN) is an SAP S/4HANA deployment that serves as a centralized financial hub, receiving and harmonizing financial postings from multiple source systems in real time using SAP Landscape Transformation Replication Server (LTS/SLT) or SAP Application Integration Framework (AIF). It enables a single view of financial data across the enterprise without replacing existing ERP instances immediately. Organizations use it to accelerate finance transformation, enable group-level reporting and lay the foundation for eventual full migration to SAP S/4HANA.
What use cases does SAP Central Finance address?
- Harmonized financial reporting: Central Finance consolidates financial data from multiple ERP instances into a single view, enabling group-level reporting, intercompany reconciliation and management reporting without waiting for a full migration.
- S/4HANA migration stepping stone: Organizations use Central Finance as a phased approach to SAP S/4HANA adoption, centralizing finance operations first while allowing business units or subsidiaries to migrate source systems progressively.
- Shared services and payment centralization: CFIN supports centralized payment processing, accounts payable and accounts receivable management, enabling organizations to establish finance shared services without requiring source system replacement.
- Finance process innovation: With Central Finance in place, organizations can deploy SAP S/4HANA Finance capabilities including advanced analytics, AI-assisted forecasting and automated close processes on the centralized data without touching source systems.
What does SAPinsider research say about SAP Central Finance?
SAPinsider research identifies Central Finance as a strategic option for organizations with complex, heterogeneous ERP landscapes that need to accelerate finance transformation without a disruptive big-bang migration. Practitioners report that CFIN projects require careful data harmonization and mapping planning, but deliver significant reporting and process benefits early in the transformation journey. Explore SAP Central Finance resources and case studies at SAP Central Finance.
SAP S/4HANA and Central Finance MigrationSAP S/4HANA represents the future direction for SAP’s ERP strategy. These sessions will help you understand the potential value and impact of SAP S/4HANA on core financial processes. Gain strategies and insights to help you evaluate this transition and prepare for the move. Follow examples of companies will share lessons learned and how they are transforming their finance strategy. Weigh the option of SAP Central Finance as both a short- and long-term solution for process efficiency and simplicity.
Preparing for Central FinanceBy Rizal Ahmed, Chief Content Officer, SAPinsider Customers are looking to simplify, integrate, and consolidate financial processes, and Central Finance is becoming a popular strategy for achieving that goal. But are you prepared for the integration implications? SAPinsiders Consider Central Finance over the Short and Long Term SAP Central Finance presents organizations with an opportunity […]
Dec 14, 2020
•5 minute read
BlackLine & Central Finance: A sweet success for The Hershey CompanyThe Hershey Company initiated a finance transformation effort to enable its strategic initiatives. The project centered on moving to SAP S/4HANA Central Finance (cFIN), but a need was identified for additional solutions to address manual processes. Early on, Hershey implemented SAP Account Substantiation and Automation by BlackLine to bring visibility, standardization, and control to its financial processes. With Central Finance up and running, Hershey sought automation and best practices and is expanding its use of BlackLine for end-to-end transformation. This session will explore how Hershey is carrying out its vision to modernize traditional financial processes. Attend this session to:
- Explore Hershey’s strategy for selecting technology to support its financial transformation efforts
- Learn how BlackLine solutions can be a catalyst for your organization’s planned move to SAP S/4HANA or SAP Central Finance
- Discover additional automation uses cases with BlackLine solutions
- Examine the initial results from Hershey’s transformation efforts and get an inside look at the next steps in the transformation journey
Oct 21, 2020
•1 minute read
Best practices for master data mapping in Central FinanceMaster Data Governance and mapping are critical to any Central Finance project. In this session we will walk you through the MDG Foundation mapping in Central Finance and show you firsthand how it can be leveraged to redesign and harmonize your master data in S/4HANA. Attend this session to:
•Discuss Key, Value, and Cost Object mapping in MDG Foundation and how they can each be leveraged throughout your Central Finance deployment
•Take a deep-dive into the functionalities and capabilities of Value Mapping and learn how you can leverage context-based mappings for similar master data
•Understand key S/4HANA points of configuration and how they drive the master data strategy for both current and future phases of Central Finance
•Know the importance of building a rock-solid master data strategy in Central Finance and how missteps can potentially result in errors from missing master data dependencies and mappings
Oct 20, 2020
•1 minute read
How to Achieve Success in your SAP Central Finance Deployment Using Master Data & HarmonizationDelivering value quickly in an SAP S/4HANA Central Finance deployment requires a practical focus on master data. The scope of Central Finance functionality dictates what master data is needed, and the resulting effort and time spent on configurations, master data definitions and mappings can significantly impact project complexity, duration and success. By leveraging automation and intelligent technologies, you can accelerate the master data phase of your project, and deliver higher value within Central Finance to your stakeholders. Attend this session to:
Understand the relationship between SAP Central Finance scope, value and master data requirements
-Recognize the challenges and pitfalls of the common methods used for master data integration and how to overcome them
-Learn how the automation of key master data tasks can significantly accelerate your SAP Central Finance deployment and deliver more value, faster
Oct 19, 2020
•1 minute read
S/4HANA & CFIN Phase 0 Assessment: Reduce Risks and Improve Project OutcomesWith our Phase 0 Assessment, you can mitigate risks such as negative impacts on financial performance, damage to brand, loss of customers, goodwill and talent. Find other insightful content from Protiviti on their Vendor Showcase
Jul 14, 2020
•1 minute read
SAP Central FinanceFor companies looking to reimagine their business models for greater operating efficiency, better customer service, and improved financial performance, unifying their enterprise finance model can be a game changer. SAP S/4HANA innovations such as SAP Central Finance make this possible, according to two SAP advisors. In this thorough breakdown, which explains other innovations within SAP S/4HANA (such as the Universal Journal) and the value of SAP Central Finance, detailed diagrams and comprehensive explanations will help you understand how SAP Central Finance can assist finance teams in moving from a back-office role to become strategic partners to the business.
After reading this article you will be able to:
- Understand how SAP S/4HANA innovations allow for continuous financial operations, analysis, and reporting;
- Explain the value SAP Central Finance can provide on a global level and across SAP and non-SAP systems;
- See the different components of SAP Central Finance’s architecture; and
- List SAP Central Finance deployment considerations.
Jul 7, 2020
•16 minute read
Financials: Case study: How sweet it is — The Hershey Company’s Central Finance journeyLearn how The Hershey Company planned for and structured its deployment of SAP S/4HANA Central Finance. here John M. Zimmerman If you have comments about this article or publication, or would like to submit an article idea, please contact the editor. Laura Lutz If you have comments about this article or publication, or would like […]
Mar 1, 2019
•1 minute read
Improve the Auditability of Your SAP S/4HANA for Central Finance Foundation SolutionSAP S/4HANA for Central Finance foundation (Central Finance) is the least disruptive deployment option for SAP S/4HANA adoption in finance, especially for enterprises with a heterogeneous landscape consisting of multiple SAP and non-SAP finance transactional systems. Figure 1 provides a high-level overview of Central Finance in SAP S/4HANA along with its architecture. Figure 1 — […]
Jul 27, 2018
•11 minute read
Decoding the Cost Object Mapping Framework in SAP Central FinanceLearn about the concept, purpose, configuration, and execution of the cost object mapping framework in SAP Central Finance. Key Concept SAP Central Finance in SAP S/4HANA offers a new configuration for the cost object mapping framework, which is mainly used for short-living cost objects such as an internal order, a production order, or a service […]
Sep 29, 2017
•13 minute read
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