Financial Technology

Financial Technology

May 23, 2014

SAP Increases Agility in Finance

Managing finance transformation isn't easy. Organizations often try to conduct a transformation with only internal resources that are focused trying to conduct a transformation with only internal resources.

SAP (News - Alert) has announced a new wave of innovation for SAP Business Suite powered by SAP HANA to help enterprises accelerate their finance transformation.

SAP Business Suite modernizes the SAP ERP Financials solution by leveraging the native capabilities of the SAP HANA platform with a next-generation architecture and reinvented user experience.

SAP is enriching the real-time financial management solution with a common source of information for all regulatory and managerial accounting processes, eliminating the need for manual reconciliation.

The company is getting reporting and analytics capabilities for finance users with self-service access to all information, allowing instant insight-to-action.

"Deloitte (News - Alert) has been collaborating with SAP on the next-generation finance solutions and we have significant experience with SAP HANA, as we use it within our own financial systems," said Jan Waals, principal, Deloitte Consulting LLP and global SAP practice leader. "The role of the CFO and the CFO's team continues to evolve, and this new wave of innovation will allow finance professionals to access information in new ways enabled by the speed and power of SAP HANA. This will help to drive ongoing finance transformation as we see it at Deloitte."

SAP HANA is capable to simplify IT operations that can remove data redundancies and aggregates for a reduced data footprint and increased throughput. 

SAP Business Suite customers leverage modern design principles and also have the option to deploy SAP Fiori apps user experience for personalized, responsive and simple interactions across most common financial tasks.

Bernd Leukert, member of the Executive Board of SAP AG, Products & Innovation said in a statement, "Technology is a major enabler of this transformation. This advanced innovation can now help finance organizations achieve a new level of alignment, agility and predictability not previously possible."

Edited by Maurice Nagle

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