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50 Top Tips for Analytics
Like so many other technologies, business intelligence is steadily becoming democratised. A few years ago, BI was the province of IT specialists and business analysts – a relatively niche, expert community. Today, it’s recognised that analytical insight is far more powerful when placed directly into the hands of everyday folk making everyday business decisions.
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Pick of the bunch for Finance from Sapphirenow 2013
It was a memorable SAPPHIRENOW last week with everyone - SAP executives and managers; partners and most importantly customers, confident that strategy of in-memory; mobile and cloud was proving to be a remarkable success that was delivering success after success that everyone was happy to share and celebrate. The keynotes were awesome as ever; but here's my pick of the Finance sessions that I witnessed over the three days of the event.
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8 Steps to Success in the Cloud
According to a new report by the Sand Hill Group that was sponsored by SAP, aside from the obvious attraction of potential cost savings, one of the draws of subscription based cloud computing is that it allows companies to evaluate new business concepts without having to invest in new servers themselves. Without having to go through their own capex approval processes, they can quickly test the market, perhaps even gaining first-mover advantage into an embryonic new market segment set to flourish.
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Five Tips for SAP Business Planning and Consolidation Implementation Success
Complicated multinational reporting requirements, inter-company eliminations, multiple disparate ledgers, and time-consuming reporting practices – if any of these characterize your financial consolidation process, it might be time for an overhaul. I know of which I speak – at Citrix, we faced more than one of these challenges. The remedy: a complete overhaul of our consolidation system processes. The results: A lot of learning… and a few surprises along the way.
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Are You Ready to Mobilise Your Finance Organization?
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.
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As the world gets riskier, it’s time to wake up to risk management
Risk in all its forms is inherent in business, – the preventable risks such as unplanned production downtime or internal fraud, strategic risk such as betting the company on an unproven technology or external risks that are largely beyond our control, but which we should always recognize and take into account in our long range … Continue reading →
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Considerations for external sourcing in conjunction with captive Shared Services
From: Bernhard Fischer, VP Solution Mgmt. Shared Services, SAP AG While the times are long gone when outsourcing was considered the ultimate evolution of captive shared services and global business services (GBS) it remains a challenge to unlock the maximum benefit of carefully mixing captive and outsourced delivery. Not only are most external sourcing decisions.
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Introducing ‘mobile-enabled’ Performance Management with the Sap Epm Unwired mobile client
The first solution planned that will be made accessible through SAP EPM Unwired is SAP Business Planning and Consolidation 10.0 that will allow users to do considerably more than standard data exploration and analysis, such as making inputs and adjustments to plans, budgets, and forecasts — all via a mobile device. These kinds of capabilities set this client apart from mobile apps that only enable basic data exploration from a mobile device.- more in line with the capabilities available in SAP’s on-premise EPM solutions.
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Unilever breaks through to ‘real-time’ to maximise profits
In-memory computing not only provides access to data in real-time, it also delivers better insight by providing insight into data that was previously effectively inaccessible. For instance once you start to analyse profitability across multiple dimensions, (eg customer, channel, SKU, day of week, period, version, etc), the volumes of data meant models can be very slow to calculate and queries tiresome. Today with cost and profitability solutions powered by in-memory calculation engines, the speed of processing is dramatically improved – think seconds rather than hours.
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Thanks to SAP Strategy Management, Bostonians can see how City Hall is doing
We always complain about accountability in the public sector – that they never deliver on their election promises and always try to hoodwink us by massaging the numbers – turning a blind eye to the fact that the same happens in business where once you get beyond financials and regulatory data, few companies maintain a single repository for all the other performance data that really tracks where we’re making progress.
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SAP Financial Consolidation 10.0 Starter kit for IFRS
As accounting standards and regulations evolve – such as IFRS, GAAP and the XBRL electronic filing format, so your own financial accounting processes need to evolve. If this is an area of focus for you then you might like to take a look at the SAP IFRS You Tube channel, where you’ll find a number of demos.
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Why Finance should free itself and embrace the Cloud
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!
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Come on accountants; you’ve got the mandate, now run with it
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.
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Enabling Performance Management Part Two: Strategy to Execution Lifecycle
Corporate performance is measured in financial years. However, strategic plans more often span multiple years while containing shorter-term targets that map to the performance sought in the current financial year. The development of a long-term strategy might take anywhere from six to nine months for a large enterprise.
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Leasing Standards Take A Solid Step Forward
Last week the FASB and the IASB accounting standards boards met and took a solid step forward in finalizing new leasing standards that will impact customers reporting under International Financial Reporting Standards (IFRSs) and the U.S. Generally Accepted Accounting Principles (U.S. GAAP). Though the decisions are preliminary and final standards are still not here, the reaction from customers and [...]
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Best practice in recruiting financial analysts
We know a lot of companies are ramping up on their finance staff, but according to the Finance Leadership Council of the Corporate Executive Board, a membership-based research organization, CFOs who are struggling to find good quality financial analysts should perhaps take some of the blame to themselves. Why so?
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Starter Kits for the Financial Close – an obvious choice
Customers are great fans of starter kits and rightly so in that they offer packaged best practice that can be quickly implemented and some come at a fixed price, which makes them even more attractive.
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SAP takes the lead in Financial Performance Management
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.
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Introducing SAP Sales and Operations Planning
One minute overview of why SAP’s forthcoming Sales and Operations Planning solution, which is based on SAP’s in-memory appliance SAP HANA, is so important.I’ve long been a fan of driver based budgeting and used it on spreadsheets during my time in express delivery and insurance – but this is the solution that will enable it on an enterprise level.
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The regulators may not be ready for Integrated Reporting, but the technology sure is
Last week, the world’s biggest accounting firms joined forces under the guise of the International Integrated Reporting Committee (IIRC) to call for a radical overall of how companies report performance saying that the current way they communicate with investors is “broken” and “redundant”.
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Investment in systems is the only way finance can do more with less
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.
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SAPs Cloud Applications now include SAP Travel OnDemand
I’m sure that you, like me, find the whole process of expense claiming to be a rather tedious but necessary activity. If only it could be made easier and quicker! Well, perhaps it now can. As an SAPInsider special report on Cloud Applications explains, many business travelers spend an inordinate amount of time managing the administrative aspects of their business [...] (Read Full Article)
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Business savvy CIO’s in demand
As companies rush to implement technologies that drive down cost and get to grips with mobile and on demand that managers expect as given, a quick look at the recruitment pages shows that strategy savvy CIO’s are in demand
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First demonstration of Planning and Consolidation on HANA
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!
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