Financial Reporting Excellence
Future business management will be characterized by a distinct customer orientation and transparency inside the company. The real-time analytic activities will support finance helping business to 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 realize the strategy. Open financial analytics systems are required. These financial analytics platforms should 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 is focusing on the analysis of huge amounts of data – Big Data. This one source of truth will satisfy flexible business reporting and analytics features for diverse reporting requirements for the group. Information can be accessed real-real-time, in other words in exactly the same moment in which they are needed. There will be no media disruptions, no blockings.
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 a company-wide use of the analysis functions. It will be easier to take better decisions in less time.
All transaction and analysis data of almost all data sources can be analyzed in real time. The data concerning the operational activities are directly recorded in the main memory during the business transactions and processes. Even external data may be included in the analysis models to make a company-wide use of the analysis functions. An increase of the company’s performance and a reduction of the overall operating costs can be achieved at the same time.
S/4 HANA Finance follows the key paradigm to unify transactional and analytical data into a centralized database – one source of the truth.
Unlimited flexibility for New Analytic Data Models based on line items
Transactions involving a huge data amount 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 Predicitve 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 being 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.