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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. Efficiencies are the currency of modern capitalism.
Today, life sciences firms need the power and features of industry-standard enterprise resource planning software such as SAP Business ByDesign. This would never have happened if Public Health England had been using an ERP system by SAP. When that is lacking, situations arise like what happened recently at Public Health England.
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.
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.
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.
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.
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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.
As one of SAP's longest serving partners, Bramasol has seen and participated in many major changes during our 25 years of working in the SAP ecosystem. When we express how excited we are with the new RISE with SAP initiative that was launched in Q1 2021, it comes with that deep history and perspective in mind.
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.
Transparency is critical, particularly in a heavily regulated sector like ours, where compliance with local regulations and alignment with corporate governance are essential. From the financial side, I am heavily involved in the scoping of the AFE, ensuring all financial models, scenario planning, and required returns are accurately detailed.
The need for flexible plans without pre-defined spending levels demands a solution that is purpose built to handle the complexity, uncertainty, and volume of transactions. SAP BRIM provides a portfolio of integrated solutions that can be deployed individually or in a holistic approach. Billing and invoicing only for the used quantity.
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. Or, in some cases, it can make sense to start small and add functionality according to a pre-determined plan.
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.
Register Now for the webinar as experts from Bramasol and SAP provide a deep dive into these key impacts of moving to DSE subscription models, along with specific actions you can take to optimize your order-to-cash processes. So please plan to attend and share your questions below or just bring them with you to the meeting.
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.
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.
Learn how SAP Event Based Revenue Recognition (EBRR) in the SAP Public Cloud can enhance revenue management and ensure compliance for subscription-based offerings, thus enabling businesses to streamline and optimize their processes. Watch this free webcast to get a detailed look at the why, what and how of EBRR.
As companies pan into the new year, budget planning for 2025 comes along. The result is a bolstered mandate for compliance and visibility. Repeatable tasks such as validating transactions for compliance will become increasingly automated in 2025, reducing the time managers spend reviewing individual expense reports.
Operational Accounting vs Compliance Accounting One useful way to sort out the accounting landscape is to consider the differences between "operational" and "compliance" accounting responsibilities. Compliance Accounting is more focused on areas such as revenue recognition, closing processes, disclosure reporting, ESG compliance, etc.
This episode focuses on how DSE business models present new challenges with regard to Financial Planning & Analysis (FP&A) processes, which require enhanced agility, scalability and end-to-end integration to handle DSE's inherently dynamic requirements. How is FP&A different from traditional accounting?
SAP Ariba has just become the latest to add to this trend and is pulling the hype over chatbots into the world of procurement. The company said this week that it is developing an eProcurement bot, deploying artificial intelligence, to enable streamlined accurate and compliance procurement processes.
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.
Bundling of chips, software and service offerings that involve multiple companies often entails complex revenue recognition and compliance issues , and semiconductor equipment makers offering new usage-based models can benefit from billing and revenue innovation management solutions.
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.
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. Risk and compliance teams monitor any changes in regulations and identify potential risks.
Enterprise resource planning (ERP) systems are one way to keep up with ever-changing variables and to derive the insights that are critical to keep growing your business in uncertain times. Manufacturing ERP is designed to optimize efficiency in quality and compliance.
This can help them plan and invest for the long term, rather than relying on variable sales of individual products. Looking forward, the path to SAP S/4HANA provides a solid roadmap for seamless meshing of DSE offerings within a high-performance, in-memory architecture that assures both scalability and future-proof extensibility.
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.
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. At Sapphire 2023, SAP also introduced a new component called the Sustainability Data Exchange within the SAP Business Network.
For either of these situations, the implementation plan needs to be carried out within a well-defined set of guardrails in order to gain insights without incurring widespread disruption of other business processes.
These webinars meticulously demystified SAP's Subscription Management Solutions and SAP Event Mesh, uncovering their immense value in managing Subscription Contract lifecycle events. If you're seeking to maximize your utilization of SAP applications for DSE, quote-to-cash, compliance, and reporting, this is a must-watch!
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.
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.
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.
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.
This important issue was previously explored last year in Are You Ready for "Carbon Accounting" Compliance? Information about climate-related targets and goals, and transition plan, if any. In light of this accelerating development of Carbon Accounting compliance and reporting standards, what should companies be doing now?
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.
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.
The pressure on finance leaders to deliver strategic insights and ensure compliance is mounting in this dynamic environment. Additionally, CFOs are now required to oversee compliance beyond traditional financial reporting, which extends to new areas such as ESG," Chee adds. These challenges, like tangled vines, impede progress.
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?
Under this familiar process, financial personnel export data from their organization's software, typically the company's Enterprise Resource Planning (ERP) system. These processes vary. Most, if not all, such processes are currently reliant on Excel spreadsheets. This makes what is likely an already time-consuming task even slower.
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.
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