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Throughout 2024, SAP actively continued integrating artificial intelligence (AI) across its entire product suite to enhance business processes and user experiences, which has set the stage for driving tangible impacts for businesses in 2025. This integration provides a more user-friendly way for individuals to engage with SAP solutions.
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.
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. This method provides flexibility but can lead to revenue fluctuations.
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.
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. Double-check numbers before submission Errors in financial reports can lead to legal issues, so its important to check everything carefully.
Heightened emphasis on building in sustainability and ESG compliance for network operations. On the back-end, deploying BRIM and RAR together enables telecom companies to effectively manage complex licensing, partnering and revenue-sharing relationships to assure end-to-end visibility, scalability, data consistency, and accounting compliance.
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).
By focusing on a smaller number of products and services that are regularly updated, they can optimize supply chains and reduce production costs. This can help them plan and invest for the long term, rather than relying on variable sales of individual products.
From an enterprise standpoint, an IDG Market Pulse survey of North American companies with over 1000 employees indicated that, " the mean number of data sources per organization is 400. For more information on data management, integration and migration, check out these resources: SAP Analytics Cloud. Digital Solutions Economy.
Entitlements can include a wide range of offerings, such as access to a cloud service, number of user licenses, software support, hardware maintenance services, warranties, media access rights, or usage-based consumption rights. Integration with embedded analytics such SAP Analytics Cloud.
In this episode, we drill down for a closer examination of the types of entitlements that are offered as part of subscriptions and bundles in various industry segments, along with some insights into how entitlement management solutions that are part of the SAP BRIM portfolio and ecosystem that can be helpful to achieve success.
In order to take these bundling scenarios to an optimal level, medical equipment makers need to leverage more integrated solutions that bring all the backend processes together in a seamless end-to-end environment that meshes with compliance and reporting mandates. For revenue recognition, they also must comply with ASC 606 and IFRS 15.
The two plus years of pandemic-driven changes keeping more people at home created a sudden growth peak in subscriber numbers, which has been followed in 2022 by a shift back toward fundamental bottom line issues such as containing costs and improving revenue per subscriber. Embedded Analytics for DSE.
With the little time you have to spare, you’ll do your best to validate the numbers, scrub them as necessary, and present the information the best way you can. These processes vary. You’ll need to first find the data, export the information needed, and then dump it into Excel.
Carbon Accounting was previously identified as one of the Five Key Trends to Watch in 2022 , and the compliance implications were explored in this blog post Are You Ready for "Carbon Accounting" Compliance?
Editor’s Note: For our Female Leadership in Finance Series , FutureCFO editor Teresa Leung recently had a chat with Gina McNamara (pictured), Chief Financial Officer, SAP Australia and New Zealand (ANZ). The CFO, according to her, is much more than a number person and needs to take care of oneself and empower people beyond the finance team.
The SAP Concur 2020 survey, Finance in the New World of Work , revealed gaps in organisations’ expense management, business travel, and remote work processes. With the unprecedented number of people working from home in 2020, this is really a watershed year for companies to manage employee productivity. billion in GDP.
He noted that paper-based processes are slow and often may not provide insight into the number of invoices outstanding or the dollar value of those invoices currently being processed. Typically, the AP department will struggle to just pay on time or reasonably late,” he told PYMNTS.
“There are a number of unique needs and challenges across the entire source-to-pay process,” the firm’s director, Conor Mullaney , said of the oil and gas industry. One of the most popular, Mullaney said, is SAP ERP and SAP Ariba.
Your finance team’s scrambling to gather data from the various business units within the organization, dealing with an overwhelming number of spreadsheets, and creating multiple versions of the same consolidated financial statement to comply with different regulatory bodies. Keep Up With Compliance as Your Company Scales.
Libra Association member firms, which now number 27 companies, are slated to meet on Monday (Oct. and China, could sap economic activity as well as domestic hiring and trigger a recession. And the Libra Association’s member firms are slated to meet on Monday (Oct. 14) in Switzerland. 14) in Switzerland. like the services sector.
Automate for greater efficiency, visibility and compliance To overcome this, businesses should consider spend management solutions that help to automate many of the processes that an AP team has to manage frequently.
Board integrates seamlessly with popular business software systems and platforms, such as SAP ERP and Microsoft Azure or SQL database tech. Specific capabilities include financial planning and analysis, integrated business planning, financial reporting, regulatory compliance reporting, and financial close management. Very Good).
Add to the equation the growing burdens of regulatory compliance stretching across anti-money laundering and know your customer efforts … and record-keeping can become daunting even with the best of efforts. One customer is on SAP, for example, and perhaps another firm is operating with QuickBooks.
For instance, employees losing receipts, and the sheer number of hours it takes for professionals to reconcile, review and approve expense reports, were among the largest challenges. The survey also revealed the top pain points corporates endure when it comes to T&E, most of which are linked to those manual processes.
With the little time you have to spare, you’ll do your best to validate the numbers, scrub them as necessary, and present the information the best way you can. These processes vary. You’ll need to first find the data, export the information needed, and then dump it into Excel.
Encompassing tasks such as analyzing financial data, creating budgets and forecasts, managing accounting processes, and ensuring tax adherence and regulatory compliance, these advanced solutions empower finance teams to concentrate on strategic decision-making and higher-value tasks.
This can be seen clearly in the increased adoption of SAP Cloud-based S/4HANA over recent years. As of the third quarter of 2023, SAP SE reported cloud revenue was up by 23% at constant currencies, driven mainly by the growth of SAP's combined SaaS and PaaS portfolio. SAP operates 57 data centers at 32 locations in 15 countries.
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