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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.
44 results
Trends and Opportunities to Modernize your Financial CloseJan 20, 2021 — 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 risk of this disruption. This unique session examines the macro pressures on finance and delves into the array of SAP solutions that support finance and accounting as you navigate this unique climate.
You will:
- Learn how SAP S/4HANA Finance, Group Reporting, Account Substantiation, Disclosure Management, and Advanced Financial Closing can work together to support the diverse requirements of today’s financial close
- Understand how customers are leveraging a combination of best practices and these solutions to support and empower teams in a remote working environment
- Discover how core financial processes are supplemented by management accounting processes to help determine profitability across various dimensions
- Know how you can modernize your close capabilities to deliver advanced what-if analysis and predictive functionality that’s critical during this time
1 minute read
How KMD Reduced Closing Time by 50% with SAP S/4HANA for Group ReportingJan 19, 2021 — 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 closing cycle for Group Report from 8 business days to 4.
Attend this session to learn to learn how KMD accomplished the following:
- Improving data quality to autogenerate cash flow on the fly
- Decentralizing consolidation from corporate to local
- Creating the “perfect” balance for non-SAP S/4HANA Finance companies
1 minute read
SAP S/4HANA Group Reporting Overview: SAP’s Next-Generation ConsolidationJan 19, 2021 — 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 demonstration of the latest version of the product as well as cover the roadmap for upcoming releases. Topics include:
- SAP’s product direction and strategy for consolidations
- How SAP S/4HANA for group reporting differs from “traditional” consolidation applications and the potential benefits to business users
- The scope of functionality in the current (and future) solutions as well as key implementation considerations
- How SAP S/4HANA for group reporting fits within the broader scope of SAP S/4HANA Finance and the Central Finance deployment option
1 minute read
Creating a Real-Time Cash Flow Report Using SAP S/4HANA Group ReportingAug 26, 2020 — 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 report using SAP S/4HANA Group Reporting.
Read this article and learn:
- An overview of the cash flow process;
- How to use SAP S/4HANA Group Reporting to deliver your cash flow report using new reporting functionalities;
- How to automate your cash flow report process; and
- How to report your data using SAP BusinessObjects Analysis for Microsoft Office.
16 minute read
Accelerate Your Financial Close to Support Strategic Decision MakingJul 6, 2020 — 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 value to the business, finance teams can spend less time on mundane tasks and more time engaging in value-added activities. This article analyzes two workstreams that are essential to the financial close process, and how SAP solutions complemented by BlackLine applications can support these workstreams and improve the close process.
After reading this article you will be able to:
--Understand the stages of the financial close, which range from transactions to analytics;
--Explain how financial accounting, controlling, and planning work together to enable insight into the financial status of a company;
--Define the solutions that are available to support both the R2R and the FP&A workstreams; and
--Identify how BlackLine applications complement the solutions provided by SAP and how they fit into the overall financial close process.
17 minute read
Case Study: Swarovski GroupJul 1, 2020 — 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
1 minute read
Article: Why Leading Organizations are Moving to the CloudJul 1, 2020 — 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
1 minute read
Article: Managing Financial Close Tasks: An Ideal Combination of SAP SolutionsJul 1, 2020 — 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
1 minute read