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.
SAP Financial Consolidation
Get the ideal solution for group reporting with SAP Financial Consolidation!
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.
What can you do with SAP Financial Consolidation?
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.
- Server based, cloud or hybrid
- Combined reporting
- Continuous accounting
- Advanced consolidation
Why should you choose SAP Financial Consolidation?
- Access data in real time: Consolidate planned and actual data in real time before and after closing.
- Shorten the financial close process: Combine financial, managerial and operational data in a single pool and increase your performance with real time processes and analytics.
- Combine consolidation and operation activities: Reduce data movements by managing consolidation from a single point. Eliminate the need for time-consuming reconciliation and discrepancy analysis.
What does SAP Financial Consolidation offer?
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.
- Access local-level operational and group data from a single source.
- Easily access transaction data by detailing of consolidated reports.
- Integrate with SAP ERP to centralize finance, avoid data duplication and manual processes.
- Identify and fix problems before closing.
- Distribute workloads consistently and evenly throughout the accounting period.
- Monitor and effectively manage performance in real time.
Advanced consolidation processes
- Enable different finance teams under the same roof to collaborate in inter-company reconciliation processes.
- Perform intra-segment and inter-segment elimination using the innovative reporting feature.
- Get easy access to contextual information and the details of the basic data that composes them, using flexible and user-defined validation rules.