If you use a custom uploader (CU) for entering financial data into SAP, you may think you’re completely bypassing the tedious manual steps SAP imposes. While a CU does streamline data entry to some extent, most of them stop short of automating the process. In this blog, we’ll look at six signs that it’s time to retire your CU, as well as more flexible alternatives that leave more time for critical financial analysis and support faster decisions.
“May you live in interesting times.” This ironic expression accurately conjures the current turbulent political atmosphere, both in Europe and the United States. For example, the process of Brexit has only just begun, and its consequences are just now becoming apparent. This turbulence is felt not only in our personal lives, but also in the corporate world where companies need fast, accurate business data to adapt as best as possible to the consequences of political outcomes.
At Financials 2017, the March conference organized by SAPInsider for organizations that use SAP for financial processes, there was continued curiosity―and hesitance― about new solutions like S/4HANA. During the Las Vegas event, we also heard lots from attendees about challenges with nuts-and-bolts financial processes in SAP like reporting and uploading budget data and journal entries.
Even when organizations have business intelligence (BI) solutions and ERP reporting tools like those from SAP or Oracle E-Business Suite (EBS), they often turn to Microsoft Excel for reporting and analysis because it’s easy and flexible.
As 2016 comes to an end and the books close on December 31, accountants and financial analysts know what’s on the menu first for 2017: the annual year-end closing period and audit. Whether your company is public or private, the year-end closing process can be stressful, lengthy and downright messy, especially if the wrong information systems are at the table.
Like many companies that rely on the SAP enterprise resource planning (ERP) solution, Aigle ― and the company’s Hong Kong office in particular ― was concerned that reporting from SAP is time consuming and difficult.
The recent SAP TechEd conference in Las Vegas once again provided an excellent opportunity to hear from SAP developers about the technical direction of their software offerings, as well as from SAP users and partners.
If your company is like most, the July through September timeframe is when you put together next year’s annual budget. This annual budget can function as an effective means for spending control. However, as “The Planning Survey 14” from BARC describes, annual budgets are nearly outdated by the time the yearly planning cycle is over, rendering them ineffective as a performance management tool. This means most companies really need rolling forecasts to update their budget data throughout the year in monthly or quarterly intervals.
Accurate and timely Cost Center reporting is essential for tracking expenses, understanding which parts of the business are contributing to revenue growth, and improving operational efficiencies to ultimately maximize profits.
This was our fifth year participating at SAPPHIRE NOW and ASUG Annual Conference, the largest global business technology event, and being part of the daily conversations in terms of addressing the current challenges and future opportunities for SAP users.