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Security and Compliance: As companies migrate to the cloud, they can rely on their cloud ERP provider to prioritize data security and regulatory compliance. Leading cloud providers invest heavily in security measures and compliance protocols to protect sensitive information. It’s a necessity."
The Future of Finance and Sustainability with Elizabeth Burns The evolving demands of sustainability and financial performance are reshaping the role of CFOs in the energy sector. Elizabeth’s approach offers practical lessons for finance leaders navigating this complex and dynamic landscape.
Google’s transition to SAP Ariba ‘s cloud-based services has a completion date set for Aug. Due to the SAP Ariba Network, suppliers have access to better visibility for invoices and orders, with the ability to self-manage account information, submit invoices electronically and receive new purchase orders. Last October, U.S.
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.
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.
Previous episodes in this Insights Series have explored the challenges created by new Digital Solutions Economy paradigms for billing, fulfillment, invoicing, revenue accounting, and compliance across a wide range of industries. Also, diversification of services offered can help mitigate risk and strengthen revenue streams.
In the customer driven DSE model, companies need to adapt their processes to meet a dynamically changing range of customer needs, while also assuring robust backend processing with integrated revenue compliance. The packaged solution requires the core SAP Scope Items shown in the table below.
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. C, while leaving no one behind.
Previous posts in this blog series have addressed how SAP solutions such as Quote-to-Cash (QTC) , the Billing and Revenue Innovation Management (BRIM) portfolio, and Revenue Accounting and Reporting (RAR) can be meshed seamlessly to integrate frontend and backend processes for subscription-based Digital Solutions Economy (DSE) offerings.
When you’re making small-talk with someone who isn’t in finance or accounting about how work is going, and they answer with “busy,” do you ever question how hard it really is? We spoke to 20 finance teams for research on this article. After all, how busy someone is will be relative to their business, function, and industry.
This new Insights episode provides an overview of these tools and how they can be leveraged to optimize the transition to SAP Cloud Public or Private Editions. This new Insights episode provides an overview of these tools and how they can be leveraged to optimize the transition to SAP Cloud Public or Private Editions.
Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews. Inspections: It conducts regular inspections of registered public accounting firms to assess compliance with PCAOB standards and applicable laws and regulations.
The Bramasol team had the pleasure of doing just that last week at SAP Insider in Las Vegas and it was both enjoyable and very informative! Here are four key insights and trends from our interactions with fellow participants at the SAP Insider Event. Some of the other real-world benefits of BRIM-enabled DSE offerings are shown below.
This one-of-a-kind conference features industry leaders sharing how the SAP Billing and Revenue Innovation Management (BRIM) portfolio elevates customer lifetime value, enables predictable recurring revenue, and drives efficiency in the entire quote-to-cash process. DSE in the Medical Device Industry. DSE in the UtilitiesIndustry.
SAP BRIM provides a portfolio of integrated solutions that can be deployed individually or in a holistic approach. Regardless of which revenue generating model your company wants to apply, BRIM along with related SAPfinance and compliance applications help optimize and consolidate business processes for sales, delivery, and billing.
This new post provides a deeper dive into the key issues involved with optimizing end-to-end Order-to-Cash (OTC) and revenue recognition compliance for SaaS offerings. Bramasol takes a unique approach to combining specific SAP BRIM applications with revenue compliance to give companies the exact features they need.
The Bramasol team at SAP Sapphire all agreed that it was one of the best events we've attended in quite a while, with lots of opportunities for deep engagement with SAP experts. SAP Business Transformation Center determines which data needs to be transferred.
In one FutureCFO workshop of finance leaders, despite two-thirds using some of the most advanced ERP tools in the market, nearly all concede the use of spreadsheets as part of work. Forty-three years on, spreadsheets are still a staple of finance functions for companies big and small. Albert Leong.
Recent posts in this series have provided updates on SAP RISE and GROW , with a focus on how they can help streamline the path for companies migrating to SAP public and private cloud editions. The table below shows key criteria that SAP recommends for maintaining the clean core.
The pressure on finance leaders to deliver strategic insights and ensure compliance is mounting in this dynamic environment. The increased workload can hobble finance team productivity and limit their scope of analysis. This allows the finance team to focus on high-value activities instead of being bogged down by data entry.
There are several ways companies can apply enterprise resource planning (ERP) tools that help streamline procurement, compliance, supply chain efficiency, and financial operations. ERP software links processes, allowing decision makers to plan, budget, forecast, and report on company activities with high accuracy.
Gartner says finance transformation encompasses strategic initiatives designed to revolutionise the way the corporate finance function manages its strategy, processes, internal controls, and financial reporting. CFOs must accelerate their finance transformation journey towards autonomous finance or risk falling behind.
SAP Universal Revenue Management (SAP Universal RevRec) is a cutting-edge solution engineered to elevate and simplify the complexities of revenue recognition. Enhanced Compliance : Facilitates adherence to accounting standards and regulations, reducing the risk of non-compliance and associated penalties.
There are many benefits of cloud ERP systems such as SAP ByDesign, as they are designed with easy-to-use dashboards akin to those consumers use online in their everyday lives. Manufacturing ERP is designed to optimize efficiency in quality and compliance.
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.
This new Insights Post explores how the SAP ecosystem can help life sciences companies align initiatives in both of these areas with digital transformation initiatives that embrace new subscription-based revenue opportunities and simultaneously map out an optimized roadmap for moving to more efficient cloud-based ERP and overall business systems.
Every business must follow certain rules when reporting its finances, and these rules change depending on the industry. Knowing the specific rules for your industry helps you prepare in advance and avoid compliance issues. Keep track of reporting deadlines Use a compliance calendar so you never miss a submission.
According to a PwC 2022 Global Digital CFO Survey , 73% of CFOs agree that digitalization of the finance function is a high priority and already 18.5% Globalization CFOs have long needed to assure compliance with two different standards-setting bodies. of the CFO’s time is devoted to digitalization.
SAP is rolling out a new solution to help companies detect fraudulent transactions and mitigate risk. 13) that its SAP Business Integrity Screening application is now available to address financial risk within business transactions. The cloud company said Tuesday (Feb.
And on the back-end the company needs to integrate with revenue management and compliance reporting processes that properly account for various revenue streams. The following sections briefly describe how the applications within SAP Quote-to-Cash can be leveraged in various combinations to address different use case implementation scenarios.
In the face of economic headwinds, finance teams are under immense pressure to optimise every dollar spent. SAP Concur has partnered with FutureCFO to understand the challenges and opportunities finance teams face as they navigate the complexities of travel and expense management post-pandemic.
One important side effect of the ongoing trend toward globalization is the need to comply with a range of different accounting principles as well as with disparate reporting and compliance mandates. and also the status of their overall digital transformation journey and migration to SAP S/4HANA. Inventory Accounting (MM and ML).
In too many instances, as CIOs and CFOs implement new software to improve finance processes, the expediency of getting systems up and running quickly can create isolated silos of inefficiency across the enterprise-wide technology landscape. Adopting standalone solutions to meet compliance requirements deadlines.
Global ESG Regulatory Requirements One of the major ESG compliance developments to watch is the US Securities and Exchange Commission (SEC) proposed regulation on Climate-Related Disclosures and ESG Investing. The CSRD is part of the EU’s European Green Deal and the Sustainable Finance Agenda.
Solutions such as SAP Billing and Revenue Innovation Management (BRIM) enable transportation companies to smoothly transition from their conventional business models to new subscription based offerings. Other related solutions in the SAP ecosystem are key to helping transportation companies make the transition to these new business models.
In addition, new compliance requirements such as recent changes in revenue recognition , lease accounting , and the emergence of sustainability issues with carbon accounting all impact various activities in the value chain. The Digital Value Chain. It is important to remember that this transition is much more than just a software upgrade.
Through a new collaboration with taxi fleet operator Cabcharge, SAP Concur is helping to digitize the paper receipts that corporate travelers get when taking traditional taxis. When they use the FASTCARD, travelers will see the transaction data automatically entered into their SAP Concur accounts. Reports in IT Wire on Tuesday (Aug.
Accounting and finance processes as businesses look to automate and streamline their financial operations. Long-term contracts: With many SaaS customers committing to long-term contracts that include usage, entitlements and other rights, it can be difficult to track and support actual consumption while assuring accounting compliance.
Finance operations are not as simple and clear-cut as it was decades ago. Given the imperative to accelerate digital transformation across industries, CFOs and finance teams need to get better at adopting new technologies and driving the integration needed to make these work optimally.
Legal and Regulatory Compliance: There are numerous data protection laws and regulations that companies must adhere to, such as the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States. Non-compliance can result in hefty fines and legal penalties.
SAP is at the forefront in providing Data Fabric solutions with advanced data and analytics capabilities in the SAP Business Technology Platform (BTP) , SAP Data Intelligence Cloud , and S/4HANA Cloud environments. For more information on data management, integration and migration, check out these resources: SAP Analytics Cloud.
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.
Management and Performance Reporting - Integrated dashboards, analytics, and disciplined reporting methods are vital tools for both C-level decision-makers and frontline operational managers to stay ahead of emerging trends in their DSE programs, as well as providing a cost-effective mechanism for timely compliance reporting.
Since our decision a decade ago to focus on becoming the leading partner for delivering SAP revenue recognition solutions , Bramasol has established a reputation as the most trusted RevRec specialist across many industry segments. What Does Co-Specialization in RevRec and QTC Entail?
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