Simplifying Finance in an increasingly complex world – outlook on Financials / GRC 2015

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By Henner Schliebs, SAP. Originally posted on SAP Business Trends, 17 February 2015. Reposted with permission.

We all have read the new mantra multiple times: if we simplify everything – we can do anything. This holds true for the finance department more than ever, considering that the use of technology is key to enabling a real-time business process environment. There were some threatening results revealed in a recent study that the CFO magazine has published, like “80% of respondents would need easier to use technology if they’d wanted to meet their growth targets”. So, this latest shift in technology enabling true real-time processes will be the focus topic of this year’s Financials 2015 / GRC 2015 event hosted in Las Vegas in March (Wynn Hotel, 3/17-3/20, follow the discussion #Financials2015).

As there will be hundreds of sessions that show customer success stories, the latest and greatest in financial management, EPM, Analytics, GRC and Ariba solutions I would like to highlight the Simple Finance sessions so that you can build your agenda around those, especially given that any S4/HANA journey will start with Simple Finance:

  1. start with the keynote where Thack Brown will elaborate on the need for speed (aka real-time finance processes) and introduces some external thought leaders to the panel discussions around a modern finance organization. I won’t tell too much when mentioning that Thack will launch another important mile stone of Simple Finance to the public…
  2. one of the most compelling use cases of Simple Finance is the central journal, so this session lead by Carsten Hilker shows you how to non-disruptively start your Simple Finance implementation arriving at one source of the truth
  3. for those in need of a high-level introduction to Simple Finance I’d highly recommend Martin Naraschewski’s session about the roadmap to Simple Finance, where he will elaborate on the needs of a typical finance transformation initiative
  4. one thing that was highly anticipated by you all is more insight into Integrated Business Planning – your unique opportunity to natively connect EPM with your Simple Finance ERP system to allow planning, simulations and scenario modeling directly on your transactional data. Pras Chatterjee off course will show integration to the new Cloud for Planning solution as well
  5. new to the game is the Simple Finance Cash Management solution that is introduced by Christian Mnich, where he will give insights into how to better plan and forecast liquidity based on an integrated process leveraging your ERP / S4HANA system
  6. a dedicated session on the new Accounting solution will provide better understanding of the concepts of the greatest innovation since R/3 building the base for S4HANA. Stefan Karl will guide you through this
  7. want to learn how to get to Simple Finance? Join charming expert Birgit Starmanns and understand what to consider if you want to adopt Simple Finance including advanced predictive finance analytics
  8. join our partner John Steele at Deloitte when he talks about real-time finance processes and the role that HANA plays in this highlighting finance use cases like fast close, financial risk management or finance operations
  9. the experts from TruQua will deliver a thrilling session around the analytics that Simple Finance can provide in form of HANA Live content or via integration of SAP Analytics and EPM solutions. Dave Dixon’s presentation is a good example
  10. finally you’d want to learn about the fast close capabilities of Simple Finance where Stefan Karl walks you through how to become a world’s fastest closing company like SAP

Note there are many “hands-on”-like sessions on the Monday (3/6) as part of the Pre-Conference Workshops that deliver tremendous value for practitioners.

Please be sure this is just the Simple Finance top 10 – please be sure you also learn from customers how SAP Financial Management solutions helped them achieve targets.

Follow the discussion on twitter or facebook or SCN and please share your thoughts.

Improving Business Planning and the Financial Close

In my blog post a few weeks ago I shared details of two SAP solutions for EPM customer stories with you. One of these customers, oil producer Concho Resources was described by my colleague @JohnGWard3 in his linked blog post to be using SAP Business Planning and Consolidation to improve the efficiency of its financial planning and reporting processes.

It’s great to be able to share stories like this, as they serve to focus attention on the opportunities for creating business benefits from the use of software solutions. But sometimes it’s also nice to hear a more detailed description about the “why” and the “how” behind a decision to implement a software solution or to be provided with a fuller description of the customer’s experience in implementing and using their new solution, and the impact that this has on their business.

So as a follow-up to my earlier blog post I would now like to share the more detailed view for Concho, in the customer’s words.

Concho Leverages BPC

Here’s a link to a YouTube video of a presentation from Concho Resources and SAP business partner Akili, at the 2013 Best Practices for Oil & Gas conference. It’s quite a long video of the full conference presentation, but interesting to see if you have the time. Watch the video to hear how Concho were able to:

  • Achieve a consistent planning process
  • Increase visibility into the financial close numbers and performance metrics
  • Improve speed of production and accessibility to monthly financial close reports

Cash to Cash – Making Lemonade in Today’s Economy

By Birgit Starmanns

It used to be easier. When my best friend opened her very first lemonade stand, she did not have to use her allowance to purchase the lemons. Or the sugar. Or the paper cups. Or the table. Or the paper and magic markers for the “25 cents” sign. Or….well, you get the picture.

Fast-forward (more than) a few years. Imagine that we are running a lemonade company. Continue reading