Can finance be simple?
Stop dreaming. Make it happen! You can simplify your financial system with SAP Simple Finance, which uses the power of SAP HANA.
Bart Van Peteghem’s blogpost The story of SAP HANA: from buzzword to reality shows that running SAP on an in-memory database like SAP HANA gives us the power to open a whole new set of opportunities. This power of SAP HANA is fully used by SAP in order to redesign SAP Financials into Simple finance.
Simple finance as add-on for the SAP Business Suite on HANA, or as integrated part of S/4 HANA, brings new functionalities that were not possible in the non-HANA SAP environment.
The redesigned architecture removes the old ‘aggregation’ tables, where the most important financial data was summarized on company, period and year level. By migrating to SAP Simple Finance, these aggregations are simply removed in a non-disruptive way. Reports can now be built based on the lowest data level, i.e. the actual invoice, goods receipt or stock transfer items.
Finance and controlling are now completely linked to each other into 1 logical document, via the same references. The goal of the next release is to take this logical link even a level further, delivering a physical document.
As previously stated, this new architecture enables new functionalities and optimizes your financial processes.
First of all it is now possible to split your cost of goods sold in Finance into the cost components of the material sold. Work in process and variance calculation will now be calculated ‘in-memory’ resulting in much better performance. Batch jobs are now obsolete, because calculations are done on the fly. The deltas between your local accounting principles and IFRS/group account rules in asset accounting are now posted online instead of at month-end. These are only a few examples of the new functionalities which are accelerating your month-end closing.
Your daily reporting benefits from this new add-on as well. FI and CO figures become easily reconcilable because there is only one single source of truth.
Moreover, as of simple finance your reporting becomes fully agile. FI, CO (and Account based CO-PA) are being linked on line-item level, which enables you to drill down from a company’s financial statement to the (controlling) line-item. Linking account based CO-PA adds the possibility to report on your profitability customer, product and other (custom) characteristics within this same report.
Via HANA live views, the creation of reports becomes simpler and nicer… On top of this, SAP Simple Finance uses and strengthens the power and user-friendliness of SAP FIORI, which leads to an easier user interaction with your figures. SAP FIORI is the new user interface of SAP, getting rid of old transaction codes and working in designed tiles, even available on your mobile device, which is improving productivity. During the next waves of new FIORI applications, SAP will release many new user-friendly apps focused on finance, based on SAP Simple Finance.
This is only the start of a new ‘Simple’ SAP approach, resulting in an easier, more user-friendly and intuitive SAP environment.
Do you like this story and want to hear more about this new solution? Please feel free to contact us.
Or subscribe for our D’lunch: SAP Simple Finance: A promise to deliver. Do not miss this event, on April 23, Artsenhuis Antwerp. Seats are limited!