Financial Reporting Excellence
Future business management will be characterized by a distinct customer orientation and transparency within the company. Real-time analytic activities will support finance, helping business provide strategic value, as the dynamic competition will be increasingly determined by intelligent financial decisions.
The manager of tomorrow will be able to realize the transformation of strategic decisions into the company software real-real-time so as to promptly implement the strategy. This requires open financial analytics systems, which will provide a broad insight into the companies and their business networks and hence the chance to exercise a spontaneous influence on processes, service providers, and customer relations.
Establishing a business process management platform means focusing on the analysis of huge amounts of data – Big Data. This single source of truth will satisfy flexible business reporting and analytics features for the group’s diverse reporting requirements. Information can be accessed real-real-time, in other words, precisely when it is needed. There will be no media disruptions, no blocks.
Finance Analytics – in addition to the punctual analysis of actual and target data it is important to work real-real-time analytically, with an increasing amount of simulative predictions and to integrate both structured and unstructured information. External data may be included in the financial analysis models to make use of the analysis functions throughout the company. It will be easier to make better decisions in less time.
All transaction and analysis data of almost all data sources can be analyzed in real time. Data related to the operational activities is recorded directly in the main memory during the business transactions and processes. Even external data may be included in the analysis models to make company-wide use of the analysis functions. This both increases the company’s performance and reduces the overall operating costs.
S/4 HANA Finance follows the key paradigm to unify transactional and analytical data into one central database – one single source of truth.
Unlimited flexibility for new analytic data models based on line items
Transactions involving large volumes of data may be linked by means of analysis functions to form innovative new analysis applications. An increase of the company’s performance and a reduction of the overall operating costs can be achieved at the same time. Due to the in-memory technology it is possible to analyze enormous amounts of data within very short time and to get instant insight-to-actions with fewer steps. New Analytics data models include Predictive Analytics scenarios helping to plan better by assessing various possible scenarios and running what-if simulations.
Visualization / Usability Design for role-specific UIs
The challenge to allow for analysis processes for the different roles to be performed by the staff can be solved via visualization to deduce patterns, trends, and forecasts.
This combination enables the cooperation of various reporting functions, self-service approaches and mobile solutions on a homogeneous data basis “One Version of the Truth“. The human factor, will continue to be the more intelligent filter in order to access the correct information real-real-time.
In addition, enterprise mobility extends core financial processes to mobile devices so that business managers can access customer information, travel expenses, and budgets from any device at any time.