Jan 23, 2024
•1 minute read
SAP Financial Planning
Financial planning and analysis is undergoing a significant transformation as SAP customers move from legacy spreadsheet and standalone planning tools to integrated, cloud-based platforms. SAP Financial Planning, anchored by SAP Analytics Cloud, connects operational and financial data to enable collaborative budgeting, rolling forecasts and real-time scenario modeling. SAPinsider covers SAP Analytics Cloud planning, migration from SAP BPC, driver-based modeling and FP&A transformation strategies.
What is SAP Financial Planning?
SAP Financial Planning refers to the set of capabilities within SAP Analytics Cloud (SAC) and SAP S/4HANA that support budgeting, forecasting and financial modeling. SAC serves as SAP’s strategic planning platform, offering collaborative planning workflows, predictive forecasting powered by machine learning and tight integration with SAP S/4HANA financial data through live connections. Organizations migrating from SAP BPC or SAP BPC Embedded are encouraged to evaluate SAC as the modern planning standard, using its flexible data models and driver-based planning capabilities to replace static, spreadsheet-dependent processes.
What use cases does SAP Financial Planning address?
- Annual budgeting and target setting: SAP Analytics Cloud enables finance teams to distribute top-down budgets, collect bottom-up plans from business units and consolidate submissions into a single version of the financial plan with automated workflow and approval tracking.
- Rolling forecasts and reforecasting: Organizations replace static annual budgets with continuous rolling forecasts in SAC, using real-time S/4HANA actuals to update forward projections and reduce the time required to reforecast after business changes.
- Driver-based and scenario modeling: SAP SAC supports driver-based financial models where key assumptions such as headcount, revenue per unit or material costs automatically flow through to the income statement, balance sheet and cash flow plan, enabling rapid scenario analysis.
- Integrated business planning: SAP Financial Planning connects with SAP IBP for supply chain and SAP S/4HANA for finance, enabling integrated planning across commercial, operational and financial dimensions from a single platform.
- Migration from SAP BPC: Organizations migrating from SAP BPC use SAP’s BPC migration tools and guidance to move existing models, data and logic into SAC, modernizing planning infrastructure while preserving investment in planning content.
What does SAPinsider research say about SAP Financial Planning?
SAPinsider research and practitioner content highlights the shift from SAP BPC to SAP Analytics Cloud as the primary planning transformation underway among SAP customers. Finance organizations are adopting SAC to improve forecast cycle times, enable self-service modeling and reduce IT dependency in the planning process. Explore SAP Financial Planning resources, case studies and SAC guidance at SAP Financial Planning.
Become Your Organization’s MVP with Cross-Process SAP AnalyticsFinance teams are being asked to take a leading role in organizational data as business look to do more with less during these uncertain economic times. A recent study indicates that by 2025, 50% of FP&A leaders will be responsible for an enterprise-wide data strategy. However, finance teams struggle to easily access SAP data that is often restricted to certain departments, hindering informed decision-making and creating data silos.
Industry experts from insightsoftware will discuss how to overcome these barriers using real-time analytics for better decisions across different functions.
What Is xP&A Exactly and How Does it Relate to S&OP?Business executives are desperately grasping for a solution that will help them prevent a repeat of the previous few years’ supply chain insanity. The first truth to reveal is that there is no “one size fits all” answer or “silver bullet” solution or magic pixie dust to sprinkle on and solve all aspects of this recent history and that in some cases there will not be an available answer.
In this series, we will explore three major questions. The first big first question to be answered is: What does xP&A bring to the table to help mitigate these challenges? The second question to be answered is: How does xP&A fit in with other operational planning activities? A third and final big question in this series is: How does one get started on an xP&A journey?
Nov 21, 2023
•5 minute read
The Future of Analytics and Financial Reporting: Data-Informed PlanningThe upcoming webinar, "The Future of Analytics and Financial Reporting: Data-Informed Planning," offers a comprehensive exploration of modern financial planning and analysis (FP&A). Phocas Software covers the shift from static to dynamic reporting, emphasizing the advantages of real-time insights and adaptability. The webinar also focuses on fostering data literacy across organizations to empower every member to understand how their actions impact the bottom line. Additionally, attendees will gain valuable insights into innovative approaches for enhancing financial processes, ultimately driving greater business value and impact.
Learn about the future of Financial Planning and Analysis (FP&A) in the era of data-informed planning.
Explore the transition from static to dynamic reporting and its profound advantages, including real-time insights and adaptability.
Understand how to foster data literacy across your organization, empowering every team member to grasp the impact of their actions on the bottom line.
Identify innovative approaches for enhancing your financial processes, driving greater business value and impact.
Oct 26, 2023
•1 minute read
What is Extended Planning and Analysis (xP&A)?Financial professionals have taken on an increased role in the planning process, as many companies face difficult economic conditions and changing consumer preferences. One powerful tool that many of these businesses rely on is Extended Planning & Analysis (xP&A).
xP&A provides a unified platform for data access facilitating the real-time flow of information and empowers businesses and finance teams to make better decisions. Finance becomes the quarterback guaranteeing that all departments work together efficiently and effectively.
In this article, SAP’s Pras Chatterjee walks you through the ins and outs of xP&A and how it facilitates the management of budgets, plans, and forecasts. You will also read about how SAP helps supports the xP&A process by integrating all SAP applications.
Oct 20, 2023
•2 minute read
Top SAP Analytics Cloud Q3 2023 Quarterly Release Updates for Finance TeamsMany finance teams within SAP organizations face a similar struggle – essential business processes are frequently siloed and disjointed and require manual interventions on a regular basis. This not only takes significant time and financial resources, but it introduces the possibility of errors. Finance teams must utilize advanced tools and solutions to keep pace with the ever-growing demand for insights from business leaders.
To help these finance teams, SAP unveiled its most recent round of updates with its SAP Analytics Cloud Q3 2023 quarterly release. These updates not only streamline financial planning and analysis, but also empower teams to generate precise insights for informed decision-making.
To examine what this update entails and how that affects finance teams, SAPinsider spoke to Pras Chatterjee, Senior Director of Product Marketing for FP&A at SAP focusing on SAP Analytics Cloud and SAP BPC. He shared his top recommendations for finance professionals from this release.
Sep 8, 2023
•4 minute read
How Kyriba Helps CFOs Avoid RiskThe office of the CFO has seen an unparalleled expansion in its roles and responsibilities in recent years. Beyond just financial concerns, CFOs must also navigate ESG and GRC issues, mitigate fraud and other risks, and prepare for financial and supply chain disruptions.
In this article, we will examine a list, provided by Kyriba, of the most significant challenges facing CFOs in 2023. We will also take an in-depth look at how the office of the CFO can prepare for these issues and solve them.
Despite these challenges, CFOs have a growing list of technological solutions to assist them. Tools like AI, machine learning, and automation can address many ongoing issues while also helping those CFOs who do not have the budget for additional employees.
Jul 20, 2023
•3 minute read
Providing SaaS Solutions for Analytics and FP&AIn today’s business climate, finance leaders are being asked to accomplish more and more, often with the same budgets as in years past. They are frequently tasked to participate more in strategic discussions, which requires crucial information that they often lack.
Organizations are constantly on the lookout for ways to improve insights. The SAPinsider finance research report found that 39% of respondents are increasing real-time visibility into finance and operations. This makes it the action most commonly taken by finance professionals to address their strategic priorities.
In this article, we will explore how third-party solutions like SimpleFi deliver FP&A, consolidation, and process optimization for businesses. We will also discuss the importance of considering deployment options before settling on a solution, as well as the market demand for FP&A and consolidation improvements.
Jul 20, 2023
•2 minute read
Breakaway Technologies Highlights Five Keys to a Successful XP&A ProcessPlanning is essential for the long-term success of any business. This is why many organizations are migrating from financial planning and analysis (FP&A) to extending planning and analysis (XP&A). FP&A ranks among the most common pain points and planned future investments. Legacy FP&A processes can hamper the process of making decisions and cause teams to miss opportunities to save money.
Organizations implementing an XP&A approach to business planning can leverage all types of data, including financial, operational, workforce, customer, and supplier data to make better decisions. However, as with any emerging process, XP&A is not necessarily straightforward.
To help organizations avoid some of the potential pitfalls and issues associated with introducing an XP&A planning process, the finance and accounting experts at Breakaway Technologies laid out a list of five common challenges for XP&A processes, and what companies can do to avoid them.
In this article, we will explore the five challenges. They are systems integration, data quality, limited resources, communication, and external factors. We will review how these factors can adversely affect the XP&A process and what organizations can do to avoid them, including which technological solutions they can leverage.
Jul 10, 2023
•2 minute read
12 Key FP&A Reports for Improved Business Visibility and ImpactFinancial planning and analysis (FP&A) is a vital component of any organization’s overall economic well-being and success. FP&A is, at its core, a cycle of collecting data, analyzing that information, and making decisions based off of that analysis. Because of this, FP&A teams must be able to provide specific and actionable business insights to empower their organizations to increase revenue, reduce costs, and mitigate business risks.
In this article, SAPinsider expert Dr. Prashanth H Southekal will highlight the key reports organizations should utilize in their FP&A practices. There are 12 standard or commonly used performance reports in the measurement continuum the FP&A team can leverage to measure and improve business performance. You will learn about each of these, find helpful examples of how to put them into place, and the best point to use each report type.
May 31, 2023
•9 minute read
Deliver Financial Insights with End-To-End Process OptimizationJoin insightsoftware’s Senior Solutions Engineer Mark Pockl as he demonstrates how to combine Excel-based SAP tools to automate FICO data entry and install drillable, real-time financial reporting to gain valuable business insights. He’ll also be showcasing a tool that lets business users across departments act on financial data insights and automate SAP data processes.
This session is essential for VPs of IT, Controllers, CIOs, VPs of Finance, Finance Team Leads, Accounting Managers, and anyone who needs to optimize their financial processes, save time, and gain valuable insights.
Attend this webinar to:
Take the first step toward streamlining your financial processes.
Learn how to combine Excel-based SAP tools, such as Wands, Process Runner and GLSU to deliver end-to-end financial process optimization.
Discover how business users across departments can act on financial data insights and automate SAP data processes.
Apr 25, 2023
•1 minute read
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