Articles in category: Financials
Recently, I walked into a family owned coffee shop and ordered my latte. It was a very pleasant experience, but it was also atypical—the sweet lady took my order on an iPad and asked if she could enter in my e-mail address so they could send me a survey link and periodic e-mails.(Read Full Article)
A webinar on April 3rd is planned where Evan Stoddard will describe the future functionality of SAP Solution Manager. The presentation will highlight the planned innovations, as well as the long-term strategy and direction for SAP Solution Manager. Significant enhancements are planned in the areas of "run SAP like a factory" and “build SAP like a factory”, covering solution documentation and implementation, root cause analysis and monitoring for SAP HANA, cloud and mobile, extended business process analytics, job control, and management dashboards.(Read Full Article)
Congratulations, your organization is launching a new product in 2013! Are you updating the sales compensation plan accordingly? Failure to do so often leads to under performing product launches and underwhelming results. Learn how to look at the launch closely and adjust the comp plan appropriately.(Read Full Article)
After last weeks press conference in Palo Alto officially announcing the Business Suite on HANA, there have been countless blogs, articles and discussions regarding the announcement. What is missing, however, is any analysis of what SAP is planning next for HANA. Richard Hirsch provides his analysis on what he believes SAP will be doing.(Read Full Article)
In this "two for one" special podcast feature, recorded in two separate conversations, one for JonERP and one for JD-OD, Jon talks with Julien Delvat about the impact of HANA on SAP Controlling and how CO-PA on HANA is evolving.(Read Full Article)
Control effectiveness opinions are what we expect from auditors. But what does a control effectiveness opinion really tell us? None of us would conclude a glass is half full without knowing how big the glass actually is. The amount of liquid currently in a glass doesn’t tell you anything unless you know how much liquid the glass will hold. Similarly, control effectiveness opinions are often based on knowing only half the facts.(Read Full Article)
Gauteng finance MEC Mandla Nkomfe has indicated that two SAP projects financing needs to be rolled over to next year, these include an ESS / MSS implementation as well as an ECM project.(Read Full Article)
A new study from PricewaterhouseCoopers stresses the importance of understanding the risks associated with upgrading software systems.
The survey focused on how risk management and controls are integrated into the project effort and what are the lessons from the impact of those integrations. PwC said that the professional services firm strictly produced this survey to see what is happening within the marketplace and to see how organizations and C-suite executives view SAP systems.(Read Full Article)
Few companies have replaced or upgraded their ERP systems in recent years, having baulked at the cost of installing new versions that offer margin benefits and the risk of sacrificing in house customization, much of which supports changing revenue recognition rules and an evolving regulatory environment. It’s certainly not something to rush into!(Read Full Article)
A new report by the Chartered Global Management Accountant Association suggests that companies that empower finance professionals to take a broader role in the future of the business are getting it right. They still do all the accounting basics for the business, but they work more closely with business managers to provide decision support and advice.(Read Full Article)
With its dominant share of Financial ERP systems, it was perhaps only a matter of time before SAP gained leadership in the financial performance management space and this was confirmed this week in IDC’s “Worldwide Financial Performance, Strategy Management, and GRC Applications 2011 Vendor Shares” report. However, leadership has been rapid and with the current momentum, SAP looks set to establish clear blue water ahead of its competitors.(Read Full Article)
- One thing I've noticed when walking through Finance departments is the sheer volume of Finance professionals using Excel...it has struck me that highly skilled Finance professionals focus more time extracting and manipulating data, rather than analysing data, spotting trends and providing advice. (Read Full Article)
The Financial Executives Research Foundation in conjunction with accountancy staffing specialist Robert Half have just published their “Benchmarking the Finance Function 2012” – and interesting reading it is too. Despite considerable levels of unemployment across western economies, finding suitably qualified staff appears to be the biggest issue for finance functions across the world and a third are resorting to interim professionals to make up the numbers. It might be necessary, but it’s likely to drive up the overall cost of the finance function in the long run.(Read Full Article)
SAP has always had Credit Management processes within its core offering of ERP within Sales & Distribution and Finance. The core objective is to manage risk within the Accounts Receivable ledger and current and future sales orders.(Read Full Article)
With an increasing number of challenges facing the finance organisation, now is the time to ensure your CFO and finance team have all the resources they require to navigate an ever-changing business environment. In this special report, you’ll learn more about how to transform your finance organisation to ensure that it can meet your business’s most pressing needs.(Read Full Article)
This is what created the big noise at Financials 2012 last week; over a billion records calculated in seconds with SAP BusinessObjects Planning and Consolidation v 10.0 for Netweaver with SAP HANA - that's powerful!(Read Full Article)
Finance automated most of the high volume tasks long ago. But too often it has ignored tackling the less frequent tasks done by higher level and hence highly paid staff. If you work out the time, effort and cost involved in some of these yearly or quarterly jobs, it’s a real eye opener. As an example, take the financial close where many steps are automated with the use of solutions like those for SAP, starting with the local entity close in SAP ERP Financials and going right through to the corporate close using SAP BusinessObjects solutions for enterprise performance management. However, once the books have been closed, the results still need to be published and this – the final mile of finance- is rarely automated.(Read Full Article)
Some may be familiar with transaction F.01 or trial balance in ECC. At its simplest, it's the sum of all accounting debits and credits broken down by chart of accounts, general ledger account, company code, and some additional fields or dimensions. In other words, it is the sum of all financial accounting that ECC has recorded in your production instance general ledger that serves as a basis for financial statements.
The basic process of accounting and bookkeeping hasn't changed for hundreds of years and during financial monthend close involves a large effort in the accounting department. Or maybe, it had until HANA has arrived on the scene.
Think of this. What if we were to put the most important subtotals (ending balances, flows, etc.) into a Hana cube to see how quickly we can navigate the dimensions through one of the simplest reports available or the out-of-the-box Excel Pivot Table? The current Excel row count limitation of 1,048,576 rows is not affecting us provided we stay within the manageable number of subtotals and try not to get everything at once from the Hana cube.
In this interview, SAP Chief Marketing Officer Jonathan Becher discusses the role of the CMO in the “Brave New World” of modern marketing. He explains his view on the role of marketing and discusses customer value in this one on one interview.(Read Full Article)
- The instant access to data and information provided by the likes of Google, iStore and Spotify has made people increasingly impatient with some of the legacy systems we use in our business lives – me included. There is nothing worse than waiting for a report to compile or a screen to refresh and it’s particularly annoying when you’re trying to do other things – and there’s time constraints. So bear a thought for folk in the finance team reconciling various ledgers for the period end close: (Read Full Article)
- A new Aberdeen report finds that cloud-based expense-management software offers a better alternative to today’s Excel-based or other on-premise software and processes. The verdict, according to Aberdeen survey research of 50 service firms, is that the cloud does offer advantages over on-premise systems. Cloud-based systems contributed to: a 52 percent increase in billing speed compared with those firms using on-premise management software; a 26 percent higher increase in payment speed; and 21 percent more consultants and other employees using the expense management system to create and submit project expenses, notes the report. (Read Full Article)
- You may never have heard of it, but The Executive Value Network for Finance is a business community of practice for the senior business leaders (CFOs and senior finance executives) where SAP customers can meet their peers from leading companies to discuss today’s challenges and solutions. The purpose of the network is to facilitate the exchange of customer success, innovation, and best practices – but don’t worry their subject matter goes well beyond software (Read Full Article)
- I guess this is an instance how seemingly small investments can deliver a big impact. With over 750 subsidiaries, The Dow Chemical Company faced the all-too-familiar challenge of reducing their financial close. This was no easy task for its finance team, which runs over 1,000 financial close jobs a month. To streamline and automate the process, they deployed tow SAP tools that often fall below the radar, but which can deliver impressive results for a small amount of effort – the SAP Financial Closing cockpit and the SAP Central Process Scheduling application by Redwood. Now Dow’s financial close process runs with greater efficiency and transparency at far lower cost. (Read Full Article)