7 Key Benefits Of S/4HANA Finance Cloud For CFOsCategory: SAP S/4HANA Finance Posted:Sep 10, 2020 By: Ashley Morrison
ERP is complicated. Let’s just start by agreeing on that. It’s technical. It’s complex. And it is raging with phrases and jargon. In addition to that, the acronyms and jargon maintain altering. Brand-new services and products maintain “shifting the paradigm.” Don’t you just hate it when the paradigm gets shifted? SAP S/4HANA Finance Cloud is one of those paradigm shifts. But what does that mean for the CFO who is aiming to improve his division’s performance not to have his “paradigm changed”? In this article, I will mention 7 concrete advantages S/4HANA Finance Cloud offers CFOs looking for optimized performance for the finance function. Let’s dig in!
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The benefits S/4HANA Finance Cloud can offer
Today’s CFOs are under constant stress. Both internally for business and externally from regulatory authorities and investors. There’s pressure to get financial closings done in a timely manner and also properly. There is also continuous pressure to improve the strategy, procedures, and procedures to generate a better bottom-line result. Below are 7 benefits S/4HANA Finance Cloud can supply to minimize that stress by simplifying procedures and providing decision support.
Universal journal: This tool combines the features and data from Financial Audit and Managerial Accounting (old SAP ECC components) to quicken period-end settlement and closing. All while making use of real-time data.
Streamlined reporting: The S/4HANA data source table holds all called for financial info and uses the power of in-memory computing to create outlined real-time reports. This attribute also removes the demand for batch work and data duplication in various systems, such as business intelligence.
Accelerated Financial close: S/4HANA significantly redefines the process of planning month-to-month, quarterly, semiannual, or yearly finance closes. S/4HANA Financing Cloud gives nearly instantaneous visibility on P&L, therefore boosting your ability to make decisions based on analysis of real-time trends and numbers.
Integrated Business planning: Access through a Microsoft Excel-based interface enhances the financial planning process. Automating the transfer of financial data (e.g., cost center, profit center, internal order, and P&L planning) into S/4HANA Finance Cloud streamlines and speeds up the process. It also makes real-time reporting and analysis of the fact.
New asset audit: The new asset accounting functionality included in the Finance Cloud platform is also a significant step forward. You can also manage the parallel evaluation of assets through journals and accounts. So the days of recording depreciation areas are over. And again, it’s all carried out in real-time across all assessments.
Cash management: The innovative cash management attributes in the S/4HANA Finance Cloud can manage a bank account, shot-term cash position, liquidity forecasting, and give liquidity planning. All using real-time data. The platform offers, finance with a toolset that permits you to fine-tune cash management and maximizes working capital.
Financial reporting: The new finance reports are just one of the appreciated features of this platform. They are lightning-fast and offer access to a comprehensive suite of analytical tools.
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Transform your financial function
So there we have it. 7 concrete, real-time advantages S/4HANA Finance Cloud gives to CFO’s who are thinking about a move to the cloud. We have actually laid out 7 ways SAP’s public Finance Cloud offering can streamline and supercharge your finance function. These are not small tweaks or boosts. This is a transformation.
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I hope that by now you have had an overview of SAP S/4 HANA Finance. Before you enroll in ZaranTech’s certification course on SAP S/4 HANA Finance, do check out the S4 HANA Finance demo: