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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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…
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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…
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Intercompany Accounting for Product Support Service and Subscription Software with SAP
By Sachin Bhutani, Sr SAP Finance BPA, KLA The popularity of software-defined networking (SDN) and network functions virtualization (NFV) has revolutionized the traditional communication network architectures and has transformed the way communication service providers (CSP) design their network infrastructure. These changes have driven network equipment industry revenue towards product support services and limited term subscription...…
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The Illustrated Guide To Connecting Your Financial Close Process
As an accounting and finance professional, you may already have a vision of what an effective, technology-enabled year-end reporting process looks like. But how do you get the rest of the organization to follow your lead? The Illustrated Guide to Connecting the Financial Close Process breaks down the modernization journey into five actionable steps. Learn…
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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 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.... Membership Required You must be a member to…
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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...…
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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…
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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...…
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