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.

40 results

  1. 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…
  2. 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…
  3. 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…
  4. 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…
  5. KMD Case Study

    Reducing Closing Time and Increasing Data Quality at KMD

    Reading time: 4 mins

    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…
  6. the strategic role of finance today image

    The Strategic Role of Finance In Today’s Business Landscape

    Reading time: 9 mins

    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…
  7. 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…
  8. 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…
  9. 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…
  10. Creating a Real-Time Cash Flow Report Using SAP S/4HANA Group Reporting

    Reading time: 16 mins

    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…