How SAP S4 HANA influences the CFO’s role as a business value creator and role model.
Most CFOs viewed innovation as an important aspect of further developing proficiency. SAP S/4HANA is the innovation that upholds the development of the finance function today and into the future. Nonetheless, this excursion is difficult. Organizations should foster a business case for SAP S4 HANA that will uphold their essential vision.
Unpredictable times call for an “anytime, anywhere” finance function, where CFOs are expected to take the lead in accelerating strategic growth across the enterprise. Therefore, suddenly the CFOs found their organizations in a firefighting mode: gauging risks, preserving cash, and rapidly revising all financial plans and forecasting for the next month, quarter, and year.
By utilizing the correct finance technology innovations and partnering with a trusted SAP solution organizations can keep up with global regulatory compliance and engage in efficient finance processes. Technology help CFOs control accounting, and tax standards and engage with the business to jointly drive value. Having said that, technological patterns that have been sitting in brooding mode have now arisen as genuine working models. This article examines how SAP S/4HANA can use the CFO’s vision of turning into a worth creation good example for the business.
Typical challenges for the CFO’s vision
Most frequently, a CFO’s plan is kept down by the company’s complex technology landscape. This frequently delivers efficient closing and reporting impossible within expected timelines. Such unwieldy systems hamper the administration of working capital while making it hard for finance divisions to acquire solid figures for benefit and misfortune or estimated spending plans.
Perhaps you find yourself in this situation: At the month’s end, you observe that you were unable to comply with the time constraint for the period conclusion. To exacerbate the situation, mistakes made during the month should be rectified, and information from various systems should be imported into an Excel sheet. That isn’t all! This data should be manipulated toward a good report.
Three focus areas where CFOs can gain more control with SAP S/4HANA
- Control system landscape
As a CFO, you should manage various financial systems and programs that contain your financial data. All financial information should be gathered consistently and stacked into a reporting tool. Apart from this, information should likewise be gone into an Excel program. various financial systems and programs that contain your financial data, and the likelihood of conflicting information. This translates into enormous amounts of wasted money and time. Replacing this complex structure with an integrated system saves a lot of time and money. SAP S4 HANA provides CFOs with a simplified landscape that leads to more control.
- Control over processes
Fragmented processes lead to numerous mistakes and burn through much time. However, when the system landscape is integrated, you will actually want to optimize your processes. This will save time, which you can use to proactively deal with the organization with basic independent direction in light of your present financial information. This is the place where SAP S4 HANA tracks down esteem. It offers possibilities to automate and integrate processes. It allows you to add smart KPIs. This, in turn, helps you decide which areas need your attention and avoid those that are less important.
- Control transactions
Entering information a few times on various screens and in various steps leads to incomplete data. Most frequently, no important data can be recovered from such a system. By the by, S4 HANA can guarantee that the exchanges are done accurately. This will keep the information useful and up to date.
How SAP S/4HANA can transform the landscape to help embrace a CFO’s vision
The difficulties faced by CFOs and finance experts today are complicated, but S4 HANA can work on them. CFOs can flawlessly bind together their data landscape to remove gaps and ease pain points by leveraging the in-memory data and processing capabilities of SAP S4 HANA architecture, and cloud deployment scenarios. Instead of grappling with disparate pieces, this approach enables CFOs and financial professionals to see a holistic real-time view that encompasses all operational data sets and analysis capabilities within a single unified architecture.
What is the impact of SAP S4 HANA on CFOs?
SAP S/4HANA further develops admittance to data, and the capacity to control that data. Moreover, it can drastically further develop the ongoing examination execution. In this way, with the assistance of SAP S4 HANA, CFOs have more ability to show the administration board what they can accomplish. Engaged with SAP S4 HANA, CFOs know that they can respond impromptu to the management board’s questions.
With that power, they can simply tap for details and input from the live business. Usually, the management board fires off questions after the CFO delivers the company report. Such inquiries could be connected to recently procured subsidiaries or similar activities. SAP S4 HANA gives CFOs moment admittance to all information and processes of the organization. In this way, a CFO is presently ready to incorporate the results of the recently obtained business. Additionally, SAP S4 HANA permits you to show the proficient incorporation of indistinguishable activities and item orders.
This permits CFOs to join key drivers in their reproduction model with new business arranging and get moment consolidated outcomes. Thusly, it will assist boarding individuals to sort out the effect of worldwide incomes and financial position.
CFOs can pull real-time cash and liquidity information from all business systems. With the investigation in SAP S4 HANA, they can exhort the board confidently on the off chance that the endeavor would be beneficial. Obviously, CFOs accomplish something beyond crunching figures. They provide the board with a set of what the business could resemble after a consolidation or with speculation. With that in mind, SAP S4 HANA empowers CFOs and financial professionals to anticipate potential market development in addition to current activities.
How can SAP S4 HANA help CFOs achieve their prime objectives in an agile manner?
- Financial planning, data processing, and analysis
Proper financial planning is a strategic objective for organic business growth. However, proper financial planning depends on the availability of financial data for profitable growth. Financial planning must be aligned with the growth strategies of the organization. It must be analyzed to explore new products, channels, and markets. With an embedded BPC solution for planning, SAP S4 HANA provides agility, flexibility, and accuracy in the planning process. Since it is available in the enterprise core system, no time is wasted on data loads and data reconciliation. It makes previous years’ actuals available for making plans. Financial data can be churned easily to simulate various growth strategies and help the organization make informed decisions.
- Support corporate growth
Businesses expect CFOs to support them in driving growth strategies, both organic and inorganic growth. Mergers, acquisitions, and decisions to expand business in various geographies play an important role in growth strategies. To that end, SAP S4 HANA provides real-time financial reporting that reduces the time-consuming reconciliation process. This results in a quick closing. Since it is supported by analytical dashboards with simulations, it can help CFOs make strategic decisions with accuracy and agility.
- Gain a competitive advantage
CFOs want to keep an eye on regulatory changes and changing domestic and international economic conditions because it gives an opportunity to drive competitive advantage. They can do this with the support of SAP S4 HANA. Since it is an innovation platform it can help CFOs to reimagine and reinvent their processes. Thus, it can bring agility to their decision-making.
