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.
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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…
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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…
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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…
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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
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Video: Experience Financial Close Excellence with SAP
Join this webinar to experience highlights from the BlackLine and SAP Financial Close Excellence session at this year’s virtual InTheBlack London event.
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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.
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Article: Why Leading Organizations are Moving to the Cloud
The most cost-effective way to automate resource-exhausting, manual tasks is in the cloud. Here are four more benefits that your organization can gain. Find other insightful content from BlackLine on their Vendor Showcase
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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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