SAP Simple Finance solution powered by SAP HANA is designed to provide strategic value with instant insight across finance – all via a personalized and simple user experience.
SAP Simple Finance includes all of SAP’s solutions for finance, powered by SAP HANA. Figure 1 shows the value map of processes and supporting capabilities that are available for finance, leveraging the portfolios of SAP ERP Financials; SAP solutions for enterprise performance management; SAP solutions for governance, risk, and compliance; and SAP BusinessObjects business intelligence solutions. Let’s look at these processes in further detail:
Financial planning and analysis: Managing performance is an iterative, ongoing process that allows companies to forecast, plan, and budget on an ongoing basis. With predictive analytics, finance can model and simulate multiple scenarios with what-if simulations to calculate the expected financial impact of business decisions.
Accounting and financial close: Streamlining the financial close processes enables companies to close the books quickly — both from a legal and a group perspective — with accuracy and in full compliance with global regulatory standards. Streamlining the financial close also provides stakeholders with vital decision-making data faster.
Treasury and financial risk management: Companies must optimize cash flow and manage liquidity, and integrate these processes with multiple banks. In addition, finance monitors investments and borrowing activities across multiple geographies and currencies to secure the best possible investment rates.
Collaborative finance operations: Core services provided by finance include credit checks, collections and dispute handling, invoice management, bank transactions, and travel expense processing. Streamlining these processes results in lower costs and fewer errors, and frees up finance to pursue activities that add greater value.
Enterprise risk and compliance management: To protect valuable financial data, processes must be tightly controlled to prevent unauthorized access to sensitive corporate assets, while detecting fraud and abuse. Finance can proactively balance risk and opportunity across all financial processes, from transactions to analytics.