Data Quality, Speed, and Transparency are the new normals for CFO in the dynamic economic situations when it comes to fiscal consolidation and group reporting for the enterprise.
To achieve such objectives, CFOs must have access to standard APIs across heterogeneous systems. These APIs simulate various financial scenarios both in terms of accounting and group reporting, to realize underline Process benefits.
Traditionally, Financial users have to connect data from SAP and Non-SAP Systems. Either through spreadsheets or consolidation tools that involve a lot of work and result in aggregated consolidated data.
While in SAP S/4 HANA, users get real-time access to local data, which leads to enhanced data quality, speed, and transparency through a single source of truth for financial data.
VisionTree implements Continuous Accounting to Group Reporting at address data silos in conjunction with SAP Analytics Cloud and SAP Disclosure Management for Electronic submissions.
The customer has both choices available, either as standalone on-premise deployment with SAP BPC or Embedded within SAP S/4 HANA Cloud for Group Reporting on single or Multi-Tenant Cloud.
In a nutshell, this tool enables organizations to consolidate financial, managerial, and operational data into a unified reporting platform and accelerate performance with real-time processes and analytics.
Here is a summary of the key benefits of migrating to SAP S/4 HANA for Group Reporting:
- Reduce errors and data silos drastically
- Ensure higher data quality
- Unprecedented transparency among stakeholders
- Higher clarity and audit-readiness
- Accelerated group close process
VisionTree works with global organizations to replace spreadsheets and emails with close financial checklists, approval workflows, and reconciliation tools, leveraging the power of SAP S/4 HANA.
If you are looking forward to overcoming the challenges in your financial consolidation process, please reach out to us.