SAP Financial Closing Cockpit

What Is SAP Financial Closing Cockpit?

SAP Financial Closing Cockpit is a comprehensive solution that enables you to manage all aspects of the financial close process. It provides an end-to-end view of your company’s financial position, so you can make better decisions and streamline the entire process. Using SAP Financial Closing Cockpit, finance and accounting teams can close the books more efficiently with a single point of entry for all financial data and transactions and robust reporting and analysis features, including drill-down and pivot capabilities.

What Is SAP Financial Closing Cockpit?

SAP Financial Closing Cockpit is a comprehensive solution that enables you to manage all aspects of the financial close process. It provides an end-to-end view of your company’s financial position, so you can make better decisions and streamline the entire process. Using SAP Financial Closing Cockpit, finance and accounting teams can close the books more efficiently with a single point of entry for all financial data and transactions and robust reporting and analysis features, including drill-down and pivot capabilities.

Key capabilities include:

• Automate financial close processes and improve accuracy
• Consolidate data from multiple SAP and non-SAP systems in a single view
• Manage your company’s liquidity and cash flow
• Gain insights into your company’s performance with financial reports and dashboards
• Ability to consolidate financial data from multiple source systems.

Key Considerations for SAPinsiders  

Enhance SAP Financial Closing Cockpit functionality with third-party integrations. SAP Financial Closing Cockpit offers a wide range of features to help you streamline the financial close process. Organizations can integrate process automation with third-party providers to accelerate closing workflows and reduce closing task lists.

Confirm manual closing processes and spreadsheet utilization requirements to determine the best use cases for SAP Financial Closing Cockpit. Finance and accounting managers using SAP Financial Closing Cockpit in ECC 6.0 can also automate manual processes and collect spreadsheet information easier by creating custom-developed tables to capture tasks and information.

Accelerate closing tasks in SAP Financial Closing Cockpit with updated closing templates. Finance managers can configure the closing template in SAP Financial Closing Cockpit to update important parameters automatically based on the closing hierarchy and the critical date of the task list. As a result, SAP customers can reduce the number of variants needed to run a single scenario in various programs, which helps reduce the number of closing tasks.