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The "C" in BPC: Understanding Consolidation Functionalityin SAP Business Planning and Consolidation and otherClose-to-Disclose solutions SAP Customers are UsingElizabeth Milne, SAP
@ElizabethEMilne
In this session
Obtain an overview of leading practices for achieving a faster,more accurate financial close using financial close anddisclosure management tools from SAP, including:
Automation of workflows, making the assignment of responsibilities and sharing of informationacross finance teams more efficient and timelyStreamlining and simplifying the creation, filing, and publication of financial statements within anappropriately controlled and auditable environmentExamining new ways to gain greater visibility into your company’s financial results
Automate, centralize, standardize any step in the financial close process
@ElizabethEMilne
Agenda
Barriers and Challenges to a Faster Accurate Close
SAP Enterprise Performance ManagementEntity CloseCorporate CloseReporting and Disclosure
Wrap-Up
Introduction
@ElizabethEMilne
The challenge is…
Data – accuracy and predictabilityHistorical data in multiple systems andspreadsheets – no central, data store
Process – efficiency and standardsNo linkage and enforcement with standardbusiness processesConsolidation process takes too long and iserror prone
Execution – usability and adaptabilityMany consolidation products are difficult touse and inflexible – designed for power usersToo much dependency on IT for businessspecific tasks
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Compounded by…
The dynamic regulatory landscapeInternational Financial ReportingStandards (IFRS)EU Accounts Modernization DirectiveSarbanes-Oxley Act (SOX)Industry specific requirements
Requirement for faster reportingNeed for greater accuracy
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How fast do you close?
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Accounting and financial close
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Accounting and financial close
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SAP financial close management solutionsEntity close: SAP Financial Closing cockpit
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SAP Financial Closing cockpitPerfect planning, execution, and monitoring of the entity financial close
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The Dow Chemical CompanyA Faster, Less Costly Financial Close Process
The SAP Financial Closing cockpit along with SAP Central Process Scheduling from Redwood allow us
to build the global close schedule with one template and implement that globally throughout Dow.
We really wanted to go to one place to see where we were in our close schedules. The ease and the
flexibility of the financial closing cockpit is actually fantastic.
Sandra Hartman-Holbrook, Finance Manager, The Dow Chemical Company
750+Subsidiaries world-widewith almost 50,000employees
Tangible benefitsIncreased efficiency, improved visibility, and reduced costs
1000Financial closejobs each month
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SAP financial close management solutionsEntity close: Traditional intercompany reconciliation process
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SAP financial close management solutionsEntity close: Peer-to-peer intercompany reconciliation
process
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Account ReconciliationSAP Endorsed Business Solution
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Accounting and Financial Close
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SAP Business Planning and Consolidation*Streamlined planning and a faster, more compliant close
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Data LoadingLeading Practices: Integration and automation (eliminate manual activities)
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ControlsLeading Practice: Automated checking and exception-based reporting
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Group StructuresLeading Practice: Single global system for both local and group
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Currency TranslationLeading Practice: Flexible, fully automated currency translation
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Consolidation ProcessesLeading Practice: Automated calculation and posting of Entries/ Adjustments
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AuditLeading Practice: Complete and easily verifiable audit trail
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Consolidation MonitorLeading Practices: Central monitoring and approval processes
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ReportingLeading Practices: End-user managed consolidated reporting
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Czech Aeroholding Improving Financial Transparencywith SAP Business Planning and Consolidation
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Starter kitsFaster legal compliance – reduce implementation time, effort and risks
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Fast implementationPre-packaged content reduces implementation times
Financial close starter kits available today
Application Starter kit
SAP Business Planning and Consolidation, versionfor SAP NetWeaver
IFRS &US GAAP
SAP Business Planning and Consolidation, versionfor the Microsoft platform IFRS
SAP Financial Consolidation IFRS & JGAAP
SAP Disclosure Management IFRS &US GAAP
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SAP rapid-deployment solution for financial close anddisclosure management
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Accounting and Financial Close
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Reporting and DisclosureLeading Practice: Reporting capabilities tailored to needs of specific users
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Financial Results Insight on iPad
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The Challenge of Regulatory DisclosuresLack of automation, visibility, and control
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SAP Disclosure ManagementAddressing the last mile of finance
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MetcashDelivering the Goods in Corporate Governance with SAPDisclosure Management
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Empowering more efficient Finance with SAPHANA
The Most Modern Platform for Real-Time Financial Excellence
Real-Time FinancialClose
Real-TimeFinance
Operations
Real-TimeTreasury
Management Real-TimeCompliance
Real-TimePerformanceManagement
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SAP HANA Enterprise CloudManaged, Monitored and Maintained by SAP & Ecosystem
Wrap-Up
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Further information
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Social Media
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Questions?
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Evaluate This Session
Provide feedback viathis short survey
bit.ly/ASUG14
Provide event feedbackin the same survey
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