Modernizing financial planning with SAP Analytics Cloud

image of pot of coins with leaf sprouting out | SAP Analytics Cloud

Migrating to S/4HANA has its pros and cons. For SAP users looking to modernize their financial planning, the best way forward is to start with an easy and simplified process. SAP users often find their company’s financial planning and analysis processes are inefficient, siloed and cumbersome, with many locally developed tools and data structures creating inconsistencies and duplicative work. This kind of decentralized process causes additional administrative burden and provides very limited insight.

Utilizing global consulting firms that deliver tailored strategies for these issues is the first step in cleaning up the process. One such company, Protiviti, helps SAP users say goodbye to their inefficient financial planning and hello to a streamlined and easy-to-use solution – SAP Analytics Cloud (SAC). Protiviti has supported many companies with similar global footprints in their SAC journeys, helping clients maximize the potential of the new solution and offering integrated planning, management reporting and standardized critical FP&A processes including forecasting, dynamic analysis of change capabilities and global reporting.

One client made the decision to invest in S/4HANA for the speed, reliability and innovation that this solution would bring to the global transformation of its financial processes. The client was also investing in SAC and was looking for a trusted, experienced partner like Protiviti to guide the implementation of SAC for planning and analysis.

For this client the solution was introduced to more than 500 global users, providing the capability to forecast key processes such as product cost, gross margin and SG&A, as well as balance sheet and cash flow. SAC integrated well with the client’s existing ERP and evolving S/4HANA platforms, providing a virtually seamless integration path as the client now moves from one system to another. This allowed the FP&A team to realize immediate pain relief which will scale with long-term benefits. The team has moved from a quarterly to monthly forecast cycle as they now review global financial performance via an interactive and collaborative process. This was impossible in the old solution. They now have one global data standard, consistent data management and governance practices and can identify and resolve problems before they occur.

The strategic move to modernize SAP users’ financial planning through S/4HANA migration involves recognizing inefficiencies and complexities, paving the way for streamlined solutions like SAP Analytics Cloud to enhance speed and innovation. Consulting firms like Protiviti guide organizations in this transition, offering tailored strategies for decentralized processes. Integrating SAC as an add-on to S/4HANA brings crucial features for a seamless global FP&A transformation, automating forecasting and providing immediate relief for users. This transformative journey marks a significant step towards a more efficient and standardized financial planning landscape for the SAP user community.