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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.
Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews. For any public company, the goal of successfully complying with periodic financial reviews by external auditors cannot be overstated.
As with real world debt, Digital Debt must be serviced with high on-going costs; primarily in the form of low productivity, time-consuming datareconciliation, lack of end-to-end visibility and continuous maintenance updates. Need for ongoing data manipulation and reconciliation between systems. Leveraging RISE with SAP.
The company announced earlier this month that it has developed what it claims to be the world’s first technology to integrate blockchain into ERP systems like SAP. Processing corporate payments as peer-to-peer, directly on blockchains, gives for instant settlement and, therefore, real-time reconciliation and accounting,” the company said.
Here are the typical steps involved in the financial close process: Pre-Close Activities: This phase involves preliminary activities to prepare for the close process, such as reviewing account reconciliations, ensuring the completeness of transactions, and resolving any outstanding issues or discrepancies.
Manual reconciliation is the most frustrating aspect of creating consolidated financial statements. Planful integrates with more than 100 source systems, both on-premises and cloud-based, including Acumatica, Sage, Microsoft Dynamics, and SAP, to name a few. Accelerate the Creation of Consolidated Financial Statements.
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