SAP Accelerates Innovation in Financial Management

May 21, 2014 by SAP News 0

SAP HANA® Helps Increase Agility in Finance and Drive Massive IT Simplification

NICE, FranceSAP AG (NYSE: SAP) today announced a new wave of innovation for SAP® Business Suite powered by SAP HANA® to help enterprises accelerate their finance transformation. The innovation modernizes the SAP ERP Financials solution by leveraging the native capabilities of the SAP HANA platform with a next-generation architecture and reinvented user experience. The announcement was made from SAPinsider, being held May 21-23 in Nice, France.

SAP is enriching the real-time financial management solution with:

  • A common source of information for all regulatory and managerial accounting processes, eliminating the need for manual reconciliation
  • New reporting and analytics capabilities for finance users with self-service access to all information, allowing instant insight-to-action
  • On-the-fly capabilities for moving finance processing, such as month-end activities, from batch to real time

This innovation also serves as the basis for the new accounting and cash management solutions SAP Accounting powered by SAP HANA and SAP Cash Management powered by SAP HANA, designed to meet the evolving requirements of finance departments.

“Deloitte has been collaborating with SAP on the next-generation finance solutions and we have significant experience with SAP HANA, as we use it within our own financial systems,” said Jan Waals, principal, Deloitte Consulting LLP and global SAP practice leader. “The role of the CFO and the CFO’s team continues to evolve, and this new wave of innovation will allow finance professionals to access information in new ways enabled by the speed and power of SAP HANA. This will help to drive ongoing finance transformation as we see it at Deloitte.”

In addition to driving agility in finance, IT departments can drive massive simplification with SAP HANA by removing data redundancies and aggregates for a reduced data footprint and increased throughput. To leverage modern design principles, SAP Business Suite customers also have the option to deploy SAP® Fiori® apps user experience for personalized, responsive and simple interactions across most common financial tasks.

SAP itself deployed the innovation in less than two months, including an evolution from the classical to the new SAP General Ledger application. Users can now better understand business drivers by analyzing all financial data in real time, on any dimension and without cumbersome reconciliation processes.

“We see CFOs around the globe starting the next wave of finance transformations to cope with the new normal of business reality and partner more closely with the business,” said Bernd Leukert, member of the Executive Board of SAP AG, Products & Innovation. “Technology is a major enabler of this transformation. This advanced innovation can now help finance organizations achieve a new level of alignment, agility and predictability not previously possible.”

Remaining true to the principle of delivering continuous innovation without disruption, the innovation is offered to customers for an additional cost as an easy-to-deploy financials add-on for SAP Business Suite powered by SAP HANA.

For more information, visit the SAP SAP News Center. Follow SAP on Twitter at @sapnews.

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