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In this blog post, we are taking a closer look at two important initiatives from SAP with a focus on what they are and how they can help companies optimize their ERP systems and accelerate their business growth. RISE with SAP and SAP GROW are two distinct offerings that serve different purposes as outlined below.
Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews. While passing each audit is a critically important milestone, companies also should understand that it is only one aspect of ensuring their financial transparency and integrity. Why Should You Care?
These have included migration tools such as SAP RISE and GROW , reducing Digital Debt , and fast-tracking Subscription Billing with Public Cloud Packaged Solutions. What is SAP Clean Core SAP Clean Core is a strategic approach that enables organizations to adopt cloud ERP solutions more effectively.
With COP29 coming up November 11-22, 2024 in Baku, Azerbaijan, this is a good opportunity to review progress toward climate goals and to update new developments in SAP's ongoing focus on delivering end-to-end carbon management and ESG reporting solutions. The world will be watching, and expecting governments to stand and deliver at COP29."
Over the past eight years, many episodes in this blog series have focused on revenue recognition and how SAP solutions such as Revenue Accounting and Reporting (RAR) have provided a robust foundation for compliance with ASC 606 and IFRS 15. This provides the basis for real-time matching of revenue and cost.
In this new post, we get more granular to provide an update on how AI and Gen AI can enhance productivity, insights, and results in finance applications such as order-to-cash to compliance (OTC 2 ), along with a look at how new SAP AI initiatives are key to this transformation.
As this blog series continues to explore optimizing quote-to-cash (QTC) to compliance for different industries, in this episode we dive into the special challenges faced by companies in the telecom sector and address how solutions in the SAP portfolio help overcome them.
Second, these systems must be audited for the FDA so they show proof that they actually perform as specified and required. A life sciences business must show proof that its operations follow FDA-approved practices, and this systems proof is called FDA validation. There are two steps for FDA validation.
SAP Concur enumerates its travel and expense predictions for the year ahead amid the rise of artificial intelligence and developments like the technologys use in predictive analytics for spend management, and auto population of expense reports with data from corporate cards. The five predictions are: 1.
If there are differences, it can lead to problems during audits or inspections. Some useful tools include: ERP (Enterprise Resource Planning) systems These systems (such as SAP, Oracle, or Sage) help track financial transactions and automate reporting.
In addition to highlighting trends such as the Digital Solutions Economy (DSE), industry-focused solutions, and SAP initiatives like artificial intelligence and S/4HANA cloud, this Insights Series will also periodically provide answers to the top questions that we hear from our clients and partners.
While these reports represented an important element for communicating a company's corporate-citizenship vision and were also positive public relations initiatives, for the most part they did not contain a lot of hard, auditable data. In the area of climate change, this is often referred to as "carbon accounting".
How Generative AI and SAP are Changing the Game Bramasol, a s a long-serving SAP partner, has been deeply involved with integrating the above AI and machine learning applications across many client implementations spanning compliance, finance and DSE projects.
As an SAP partner for over 26 years, Bramasol is closely tracking SAP's proactive actions to deliver comprehensive ESG and carbon accounting solutions. In November 2022, SAP took the major step of enabling companies to pull together their entire ESG landscape in a unified picture with SAP Sustainability Control Tower.
We have found that the comprehensive nature of the SAP ecosystem is an important factor for addressing these security concerns from both a high-level and throughout specific interrelated applications.
Certain climate-related financial statement metrics and related disclosures in a note to its audited financial statements; and ? The registrant’s greenhouse gas (“GHG”) emissions, which, for accelerated and large accelerated filers and with respect to certain emissions, would be subject to assurance; ?
Problem 5: Doesn’t Sync With Your ERP System While a handful of ERP systems, such as SAP and Oracle, make up a large percentage of the ERP market, there are literally hundreds to choose from, and the list of ERP systems used by businesses worldwide is endless. This makes what is likely an already time-consuming task even slower.
According to Susanna Hasenoehrl , head of sustainability for Asia Pacific & Japan at enterprise application software company SAP , sustainability can no longer be considered separately to the finance function because it is increasingly clear that sustainability performance is fundamentally linked to business performance.
SAP Business Planning and Consolidation (BPC): SAP BPC is part of the SAP ecosystem and offers comprehensive financial planning and consolidation capabilities. It integrates with other SAP solutions and has strong reporting and analytics features. Here are some of the key advantages and disadvantages of SAP BPC.
On the accounts payable side, Basware recently announced an expansion of its partnership network to include excelerateds2p, a consulting firm that specializes in supporting business users of SAP and SAP Ariba to optimize their AP and procurement functions. It is around the visibility and auditability of the entire payment process.
The lack of uniform controls across these applications can result in inconsistent, non-conforming access, time-intensive and error-prone monitoring, increased threats, fraud, and audit deficiencies. Vitasoy group director for internal audit and risk management Terence Chow commented that it's more than just financial data.
SAP Concur has revealed key 2024 predictions for finance by its executives. For the upcoming year, AI is the connecting thread among SAP Concur executives’ predictions, the firm said, adding that AI is changing how all business is conducted, and travel, expense, and invoice (TEI) management is no exception.
Imagine effortlessly accessing and analysing data from SAP HANA, Oracle, or Microsoft SQL Server. High-value financial and ESG reporting, demanding transparency and traceability, necessitate technology that shatters data silos, simplifies complexity, and guarantees data auditability.
In North America, SAP Concur has observed a shift in corporate purchases to Amazon for Business, which lets organisations buy from a company curated portal with pre-negotiated rates. Transactions paid via these platforms will automatically be populated into organisations’ expense reports within SAP Concur.
The big action in corporate spend management is travel and entertainment (T&E), where the 800-pound gorilla has long been Software-as-a-Service (SaaS) goliath, SAP Concur. billion expense management pie), a group of competitors has merged into a new company to challenge SAP’s category dominance. “A
Her consulting experience included audit and risk advisory services, project management, business process improvement and information technology, primarily serving financial institutions. Prior to this role, Joy worked on the Oracle to SAP Conversion on the Finance Systems and Integration team at Google.
Winners of FutureCFO Excellence Awards 2023 in different categories Leadership Practice Awards CFO of the Year: Tay Siang Leng - QBE Asia Controller of the Year: Ravishankar Ambalaparambil - Hindustan Unilever Limited FP&A Lead of the Year: Nobuaki Hojo - SAP Australia Pty Ltd.
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The specialist skills within finance and accounting that are proving to be the most difficult to find amongst job candidates include business/financial analysis, compliance, financial planning and analysis, risk, and internal audit. The post Elevating tomorrow’s finance leaders today appeared first on FutureCFO.
It offers flexible budget creation, real-time monitoring, forecasting, and variance analysis. It allows for detailed financial planning across various departments and business units.
Ensuring that the company's accounts and finances are audit-ready at closing. Board integrates seamlessly with popular business software systems and platforms, such as SAP ERP and Microsoft Azure or SQL database tech. Analyzing the effects of past and future financial activities and behavior in order to evaluate risk. Very Good).
Effective Communication and Collaboration: Foster effective communication and collaboration among departments involved in the close process, such as finance, accounting, internal audit, and operations. These software tools offer a range of features to improve efficiency, accuracy, and collaboration during the close process.
Problem 5: Doesn’t Sync With Your ERP System While a handful of ERP systems, such as SAP and Oracle, make up a large percentage of the ERP market, there are literally hundreds to choose from, and the list of ERP systems used by businesses worldwide is endless. This makes what is likely an already time-consuming task mind-numbingly slow.
Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. I have led various projects within finance and controlling broadly, for example, SAP rollouts, training for key users, but also troubleshooting.
The combination of SAP cloud ERP applications, SAP Business AI, and SAP Business Data Cloud come together to deliver exceptional business valueall powered by SAP Business Technology Platform. SAP also helps track project progress, budgets, resource allocation, and timelines efficiently.
SAP Joule is a prime example of leveraging embedded agentic AI as a seamless part of the overall business software landscape. Key points about SAP Joule as an agentic AI Include: Interactive capabilities: Joule can respond to natural language queries and provide relevant information or take actions.
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