Prince Amir Al Saud

Benefits of Simple Finance in SAP

Benefits of Simple Finance in SAP

SAP AG’s Simple Finance solutions introduce the ease of SAP Cloud powered by HANA (enterprise cloud) for the use of corporate finance departments. SAP Simple Finance delivers insights in real-time to Chief Financial Officers and utilizes SAP HANA’s in-memory platform with new capabilities. It ensures easier access for users through the cloud making use of a complete subscription model. The software can help finance managers speed up finance changes and generate strategic results beneficial to enterprises.

Benefits of SAP Simple Finance

What does Simple Finance provide for users? It is essential to learn the benefits for purposes of comparison in the future.

Finance people can perform real-time processes in terms of planning, assessment, accounting, treasury, consolidation, financial processes, risk and compliance on secure cloud. SAP Simple Finance will be released to clients in 25 industries and over 50 countries to go with local and international requirements of finance units. The platform is also meant to provide uncomplicated and cohesive end-to-end experience users can adopt without problems. These include discovery, deployment and actual use. Clients can deploy SAP user experience for customized and responsive interactions for common tasks by leveraging contemporary design technology.

At present, numerous corporations worldwide depend on SAP for finance procedures. SAP Simple Finance delineates solutions to help its clients develop flexibility and simplicity for all business processes. Many CFOs as well as finance departments can support their strategic roles in propelling business operations with real-time analytics and planning made available in the cloud.

Big Data and Cloud Computing have already emerged with economic benefits compared to conventional “behind-the-network security” build, own and operate platforms. There are distinct advantages such as reduced total cost of ownership along with faster time-to-value and time-to-operational integrity. In-memory computing is now technologically viable and economically realistic. It also ensures speed, precision and performance benefits that cannot be matched by relational database-only (no SQL) systems.

Simple Finance Revolutionary Platform

First and foremost, it facilitates very quick real-time analytics even at the most unpolished level across all financial aspects minus restrictions. At the same time, it ascertains business-wide consistency and decreases flaws as well as time for reconciliation. It has the built-in capacity to make use of forecasting, stimulus and analysis to review possible financial repercussions of strategic business alternatives. Simple Finance optimizes business processes using real-time implementation. There are hybrid and cloud operation options plus migration path that cannot be disrupted.

SAP revolutionizes finance.

Traditional systems used to rely on non-flexible models, pre-computed data, and slow computation techniques. SAP HANA and Simple Finance changed all that to provide a more responsive method of financial management and planning. It eliminates things like unwarranted duplication and pre-calculation of data that can obstruct other systems. SAP has extensive experience in creating efficient accounting systems so there is no danger this will disturb your business. It is a more flexible manner of making computations and helping financial analysts to try other platforms and speed up quarterly closes.

What about the Competition?

Competition comes from Oracle E-Business Suite Financials. The Oracle program is also a useful tool since it increases efficiency and has the capacity to minimize back-office expenditures with regulated procedures for collective services, tools for productivity and amalgamated performance management. With the E-Business Suite Financial, it is possible to manage international financial organizations from one system and conform to different laws, accounting standards and rules. Finally, it facilitates financial controls as well as corporate governance using a comprehensive approach in risk and compliance management.

Comments of Corporate Executives

According to former vice president and manager of Unilever’s Global IT and ERP (Marc Bechet), SAP has engineered its applications to make use of the capabilities and speed HANA. There is a diminution in the core path of SAP with the Simple Finance platform. It is likely that Simple Supply Chain or even Logistics will follow suit. This is SAP made while the Business Suite is also made to run on the HANA configuration. It reduces the complexity and adds more layers in terms of features which are considered to be extra benefits.

Simple Finance has the means to process data 10 times quicker compared to the previous programs that can lead to operations being made more efficient. This enables finance departments to have the chance to see what statistics show initially and begin with user analysis.

The good thing here is the probability to implement Simple Finance the way you prefer. This is definitely only the first of several innovations that come in multiple consumption models. These consist of on-premise, managed cloud, cloud hybrid, and on-site deployment.

As a matter of fact, SAP has formulated an adoption journey blueprint for SP Business Suite clients who wish to move over to Simple Finance.

These are Explore, Identify, Try, Deploy, and Experience that can easily be understood by SAP users.   

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