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 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.

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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

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Navigating SAP solutions for record-to-report

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Key implementation considerations for Group Reporting

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Reducing Closing Time and Increasing Data Quality at KMD

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The Strategic Role of Finance In Today’s Business Landscape

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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

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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…
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Creating a Real-Time Cash Flow Report Using SAP S/4HANA Group Reporting

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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…