SAP Financial Consolidation

Financial close can be a stressful process for companies. Since accounting teams use very different tools, reconciliation processes without added value make things difficult and bring errors. When centralized financial data is needed, it may be necessary to struggle with manual adjustments, data silos and different financial reporting standards. Financial consolidation at the group level can turn into a complex and risky process when traditional methods are used. It can even cause serious problems in a time of crisis and when it’s the end of the month and it’s closing time. In structures where more than one company operates under the same roof, being able to make new generation group reporting saves time and costs. SAP Financial Consolidation (SAP S/4HANA Finance for Group) solution using simplified data model of S/4HANA offers transparent and fast solutions for group consolidation processes.

You can facilitate your financial consolidation and closing processes by combining operational and group reporting. When you have direct access to the financial data of group assets, you can eliminate the need for multiple closing tools. You can effectively and instantly reflect local closing data and related adjustments to group financial reporting results without the need for manual transfer. By facilitating the life of accounting and finance teams, you can lead them to focus on value-added works and also to offer consultancy services.

Consolidate financial close processes by detailing of the consolidated reports to see document details in the general ledger and eliminate the need for multiple systems. Increase your analysis competencies and facilitate your decision-making processes via detailed data.

You can combine your financial and management accounting data, transaction details and workflow in a single source with SAP’s group financial reporting solution. You can instantly analyse your financial data at different levels of detail. You can simplify your business processes, while increasing productivity and reducing risk by using a single data model. You can avoid maintaining multiple versions of master data when entity and group close are combined.  Since the SAP Financial Consolidation solution produces highly reliable results, you can close your ledgers quickly and effectively.