SAP Financial Consolidation
What is SAP Financial Consolidation?
SAP Financial Consolidation is SAP’s real-time consolidation solution integrated with S/4HANA Finance, deployed on-premise or in the cloud, and referred to as Group Report with S/4HANA. It is a crucial SAP application for consolidating financial data from multiple legal entities into a single company.
What is SAP Financial Consolidation?
SAP Financial Consolidation is SAP’s real-time consolidation solution integrated with S/4HANA Finance, deployed on-premise or in the cloud, and referred to as Group Report with S/4HANA. It is a crucial SAP application for consolidating financial data from multiple legal entities into a single company.
SAP customers can leverage a unified reporting framework for local and group currencies. The solution can help SAP customers achieve greater visibility into consolidated financial positions, optimize fiscal performance, and comply with financial reporting requirements. In addition, central management and consolidation process automation can help organizations generate insightful management reports.
Key capabilities include:
- Provides visibility into underlying financial transactions with the ability to aggregate trial balances from multiple companies
- Supports accounting document principles and logs for transparency into transactions and reconciliation activities
- Process monitors to actively manage the execution of the consolidation process, identifying those processes that aren’t started, in progress, completed, or failed
- Automatic consolidation of investments and intercompany eliminations
Key Considerations for SAPinsiders:
Confirm critical business needs driving Group Reporting for SAP S/4HANA implementation. SAP customers leveraging SAP Financial Consolidation in the core SAP ERP and considering a transition to Group Reporting for SAP S/4HANA can enhance financial consolidation capabilities empowered by technology that enables real-time access to information. A pre-packaged Group Reporting solution can help organizations streamline the consolidation process, with solution extensions by third-party vendors such as BlackLine to address specific business requirements with additional functionality.
Evaluate SAP Central Finance and Group Reporting for SAP S/4HANA as an initial roadmap for a finance-focused digital transformation. The finance team at Perrigo outlines in this case study how they arrived at this initial roadmap to successfully build the foundation for a gradual migration to SAP S/4HANA.
Prioritize financial consolidation function to facilitate more robust planning and forecasting. In this case study, Matthew Hertling of National Vision outlines how consolidation functions in core SAP ERP can enable more comprehensive planning and forecasting for finance teams.
37 results
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Driving greater efficiency, visibility and control with an automated record-to-report process
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BlackLine and Kyriba Combine to Improve Financial Close Management
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Optimizing the Record-to-Report Process with SAP (IAA, AFC, Group Reporting, Disclosure, Rev Rec)
Financial Planning and Analysis is one of the biggest pain points of SAP customers according to recent SAPinsider research, and is also one of the largest areas of investment that organizations are undertaking, as they realize how critical this discipline is to their overall success. Attend this interactive session to gain an understanding of how… -
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Ask the Expert | Record-to-Report Workshop
SAP and partner experts will be available to take your questions on the record to report process - from a central finance approach, to the entity and group close, to financial reporting - this is your chance to get your questions answered. This content is available to Premium Members. Sign In Learn more about Premium… -
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Maximizing your SAP S/4HANA investment with financial close task automation
Financial close automation can provide insight into how to navigate the current economic environment, while also providing for sustainable transformation within finance & accounting. As teams consider the virtual experience of financial closing, many are finding out that their technology investments to support their process and people are lacking and yet are critical for success.… -
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Exercise control and shrink SAP reporting cycles by up to 50%
Would you like to automate your SAP reporting process and free up more time for data analysis? Are you struggling with inflexible data and time-consuming manual processes that limit your ability to make informed business decisions, fast? In this session, we will demonstrate how you can exercise control over your SAP reporting processes and significantly… -
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What you need to know about SAP S/4HANA Cloud for advanced financial closing
The entity close is a key milestone in every company's record to report process. Get 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. Attend this session to: - See the solution in action - Learn how SAP S/4HANA Cloud… -
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SAP S/4HANA group reporting as part of a modern finance platform
SAP S/4HANA for group reporting is SAP’s strategic consolidation solution. Learn how it not only provides integration with underlying S/4HANA local accounting but also integration with intercompany, planning, analytics and disclosure. Attend this session to find out more about these integration touchpoints which establish S/4HANA for group reporting as one cornerstone within SAP’s modern finance… -
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Navigating SAP solutions for record-to-report
SAP has a host of solutions that can support various parts of the record to report process from group reporting and consolidations to end-to-end close. This session will clarify how SAP’s solutions fit together for an end-to-end process, provide a roadmap, as well as illustrate how they are using third party and solution extensions to… -
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Key implementation considerations for Group Reporting
SAP S/4HANA for Group Reporting is one of the key SAP solutions for consolidations and financial close. This session will help you understand where this solution may fit into your plans and offer a real-world perspective on how to evaluate and implement for optimal gain. You will: - Understand the key business requirements which need… -
Reducing Closing Time and Increasing Data Quality at KMD
Newly acquired companies often face roadblocks in consolidating their financial and accounting operations with their new parent company’s systems. Streamlining financial closing processes, addressing inefficiencies, and automating time-intensive activities with cloud technology can help acquired companies plan for an orderly, smooth transition. One of the largest IT firms in Denmark, KMD, an NEC Company, proved… -
The Strategic Role of Finance In Today’s Business Landscape
Finance teams have always been expected to fulfill a variety of reporting requirements to complete the financial close, also known as the record-to-report process. Today, that expectation has evolved, requiring finance professionals to deliver insights for both operational and strategic decision making. And yet completing operational tasks within the accounting and financial close process cannot… -
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Trends and Opportunities to Modernize your Financial Close
Economic disruption and rapid business change is forcing finance organizations to be more innovative and flexible when it comes supporting the financial close. Remote accounting teams need to be able to access critical data and collaborate for the near term, and potentially beyond. Those organizations who adapt quickly will thrive and limit the impact and… -
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How KMD Reduced Closing Time by 50% with SAP S/4HANA for Group Reporting
In December 2018, KMD was purchased by a Japanese Company called NEC. Changes occurred with the acquisition, such as the introduction of a new Global Chart of account. Furthermore, the fiscal year had to be changed. To adapt to these changes, KMD implemented an SAP S/4HANA for Group Reporting. This allowed KMD to reduce their… -
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SAP S/4HANA Group Reporting Overview: SAP’s Next-Generation Consolidation
Many customers have questions about SAP’s next-generation consolidation solution for SAP S/4HANA customers, both cloud and on premise. Attend this session to learn about SAP’s long-term strategy for consolidations and group reporting as well as key business benefits that SAP S/4HANA for group reporting can potentially offer your organization. The session will also include a… -
Record-to-Report and Financial Close
The Financial Close and core record-to-report process represents a significant pain and source of inefficiency for many companies. Sessions in this track will share new solutions, strategies, and best practices for bringing both efficiency and visibility to this critical set of business processes. Learn how organizations are applying leading edge automation to various stages of… -
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Creating a Real-Time Cash Flow Report Using SAP S/4HANA Group Reporting
The significant complexities involved in creating a real-time cash flow report using your SAP system can prevent companies from including the level of detail that they need. Understanding the cash flow process and new reporting functionalities in SAP S/4HANA can help organizations simplify these complexities. This article provides several updates for creating a cash flow… -
Technical Guide: SAP S/4HANA Finance for Group Reporting
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Accelerate Your Financial Close to Support Strategic Decision Making
Establishing an efficient financial close is a challenge for many businesses due to the number of people and complexity of tasks involved, and yet it is key to a best-run finance organization. By understanding how financial transformation—including the use of automation to increase operational efficiency—can support finance teams in the close process and add more… -
Case Study: Swarovski Group
Discover the many benefits that the Swarovski Group discovered when they implemented CCH Tagetik’s software solution for Consolidation and Planning on SAP HANA. Find other insightful content from Wolters Kluwer | CCH Tagetik on their Vendor Showcase -
Case Study: Discovery Strengthens Controls for Critical Close Processes
Discovery recognized that after growing quickly in domestic and international markets, it needed to strengthen its controls and gain better confidence in its governance. Find other insightful content from BlackLine on their Vendor Showcase -
Article: Why Leading Organizations are Moving to the Cloud
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Article: Managing Financial Close Tasks: An Ideal Combination of SAP Solutions
Learn how BlackLine can be used to provide quick wins and to complement other SAP solutions by addressing close management challenges. Find other insightful content from BlackLine on their Vendor Showcase -
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Working with the Data Monitor in SAP S/4HANA Finance for Group Reporting
SAP S/4HANA Finance for group reporting was designed to help businesses better consolidate data to achieve accurate reporting. Its capabilities have been credited with reducing time to close, supporting continuous accounting, and enhancing auditability and reliance on reported results. In his article, Arellius Enterprises’ Dr. Marco Sisfontes-Monge, who has supported customers implementing SAP for more… -
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SAP S/4HANA Finance for Group Reporting (On-Premise)
Integrating financial consolidation tools with SAP S/4HANA source data, ensuring a smooth monthly close, and remaining agile in changing business environments remains a concern for SAP customers. To address these concerns SAP created SAP S/4HANA Finance for group reporting. Initially released in version 1809, the new and improved functionality is available in version 1909. Learn… -
Hershey’s Minimizes Management Adjustments to Financial Close
About 31% of the SAPinsider Community chose the “need to reduce time required to generate data and reporting at period close” as a key driver for their SAP S/4HANA Finance strategy, according to SAPinsider’s upcoming research on the “SAP S/4HANA Finance: State of the Market.” Additionally, 58% of the same survey’s respondents chose financial close… -
Intercompany Accounting for Product Support Service and Subscription Software with SAP
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The Illustrated Guide To Connecting Your Financial Close Process
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Financials: Case study: How National Vision implemented a dynamic forecast process with SAP BusinessObjects Planning and Consolidation
Learn how National Vision is making better and well-informed business and investment decisions by modeling financial information with SAP BusinessObjects Planning and Consolidation. FIN2017_Hertling_Casestudyhownationalvision Matthew Hertling If you have comments about this article or publication, or would like to submit an article idea, please contact the editor…. This content is available to Premium Members. Sign...… -
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Financials: Case study: How IDEXX Laboratories significantly improved overall SAP BusinessObjects Planning and Consolidation performance and user experience by seamlessly upgrading to version 10.1 on SAP HANA
Learn how IDEXX Laboratories ensured no impact on critical financial planning and closing activities by executing a detailed migration plan to upgrade to SAP BusinessObjects Planning and Consolidation 10.1 on SAP HANA. FIN2017_Sethia_Kurumoju_Casestudyhowidexx Prakash Sethia If you have comments about this article or publication, or would like to submit an article idea, please contact the…...… -
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Financials: Case study: How IDEXX Laboratories leverages SAP Business Planning and Consolidation embedded model on SAP HANA for balance sheet and cash flow statement reporting and forecasting
Discover how IDEXX Laboratories implemented balance sheet and statement of cash flow processes for reporting and forecasting using the embedded model on SAP Business Planning and Consolidation 10.1. here Prakash Sethia If you have comments about this article or publication, or would like to submit an article idea, please contact the editor. Jeremy Mowry If…...… -
Compare the Reporting Benefits of Two Key SAP Business Planning and Consolidation Functions
A classic dilemma for reporting analysts who are trying to add a Microsoft Excel formula to an EPM report is whether to use EPMCopyRange or the EPM Local Member. The EPMCopyRange feature is used to repeat the content of a range of cells to the bottom (columns) or side (rows) of a report. The range… -
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How Tate & Lyle “Makes Food Extraordinary” with Improved Finance Functions
Tate & Lyle, a global provider of specialty food ingredients and solutions, relied heavily on manual, spreadsheet-based processes to manage its account reconciliations. With locations in the Americas, Europe, the Middle East, and Africa, regional reconciliations were an unwieldy exercise that often tied up the finance team in administrative tasks like hunting down missing signatures… -
Managing the Journal Entry and Approval Process in Your SAP Systems: Live Q&A with Brian Shannon
To quickly and efficiently complete the financial close process, accounting teams require solutions that enable them to create and approve multiple journal entries in a very tight time frame. Standardizing and streamlining journal entry processes is essential, as every delay in journal entry processing delays the company’s ability to report its financial results. Dolphin’s Brian…...… -
Streamline and Automate SAP ERP Financials Processes with Financial Close Management Software
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How to Automate and Streamline the Financial Close Process in Your SAP Systems
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Under Armour Gears Up for an Automated Financial Close
As a global company tracking unprecedented growth, Under Armour needed to leave behind its manual approach to account reconciliations and journal entries. The company sought a web-based platform that would make the process more efficient and minimize risk. Delve into how software from BlackLine automated Under Armour’s financial processes and allowed employees to step away…
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