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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. The world will be watching, and expecting governments to stand and deliver at COP29."
This blog post provides an overview of these major waves of change based Bramasol's more than 27 years of working closely with CFOs and their stakeholders across many industry segments and technology innovation cycles. They are expected to provide financial leadership and insight into the organization's strategic direction.
Fortunately, new and innovative technologies provide businesses with cutting-edge tools designed to accelerate, track and support their research processes and provide them with accurate project and financialdata that they can use to improve their daily operations.
In a 2023 Treasury & Risk survey, over 70% of CFOs emphasized the importance of flexible technology in keeping their treasury operations efficient amid increasing volatility. Treasury functions are no longer isolated; they require seamless communication between ERP systems, banks, and financialdata providers.
To make sure everything aligns: Set up strong internal processes Have a clear system in place for collecting and verifying financialdata. Use Technology to Make Reporting Easier Financial reporting can be time-consuming, especially if youre relying on spreadsheets or manual calculations.
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.
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. Leveraging RISE with SAP. Building a Roadmap with S/4HANA. Embedding Analytics Everywhere.
Rigid data silos have been replaced with more fluid methods of working as technology-enabled collaboration provides a comprehensive, company-wide, real-time overview for agility when plans change. Provide continuing education programs to build resilience and prevent resistance toward new technologies.
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.
For one firm, Finlync , the key to unlocking the potential of blockchain in B2B processes is unlocking the underlying data of that activity. 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.
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. Integrated data enables comprehensive analysis and reporting.
To create more business impact, finance functions may need to reimagine their strategy, leadership, operating model, talent and/or technology ,” said the analyst. Finance leaders who want to stay competitive need to adopt the necessary technologies to prepare for and overcome upcoming challenges.
xSuite , a German provider of electronic document handling services, especially those integrating with SAP software, has won a key government certification in Singapore, according to a press release. TripActions Adds Integrations for Microsoft, SAP and Others. Singapore Grants eDoc Firm xSuite Peppol Certification for Invoices.
From Bramasol's perspective as a leading SAP partner creating business management, finance, and compliance solutions for over 25 years, here are five major areas that we are watching closely and helping our clients prepare to deal with in the coming year - and beyond.
Inconsistent systems across departments and regions create data integration nightmares, requiring a small army of analysts to untangle the mess. One major benefit is that EPM can act as a central hub, consolidating financial and non-financialdata from diverse sources into a single source of truth.
We're working with them on the types of technology, people and processes that can solve specific issues. Often, the problem is that CFOs and the financial team expect IT to solve the problem. Vitasoy group director for internal audit and risk management Terence Chow commented that it's more than just financialdata.
That skepticism has largely waned, though, with many organizations taking a hybrid approach to cloud solutions and, eventually, entrusting the cloud to store key information like financialdata. Putting financialdata in the cloud [could] be perceived as a major security risk.”. The Trouble With Data.
Chief financial officers need to get decisions right for their organisations to provide business confidence in investing in growth. Blair Robinson Reimagine Finance Operations The CFO has the opportunity to leverage technology, data, and insights to model future business options and to critically analyze prior decisions.
Budgeting and Forecasting: They have experience in creating and managing budgets, as well as forecasting financial performance based on historical data and future expectations. Strategic Thinking: FP&A candidates align financial goals with the company's strategic objectives, contributing to long-term planning and decision-making.
Application program interface (API) technology had a standout year in 2019 as a critical component to enabling the open banking business model, unlocking financialdata from silos, as well as facilitating seamless data integration and connectivity, to power a range of financial services platforms. ”
Integrating cross-organizational data These organizations reaped the benefits of Superplännen by integrating multiple data sources to create a complete picture of their organization and its performance. The organization leverages cross-organizational data to empower end users to derive critical insight from Salesforce, SAP, and Excel.
The participants are: Gina McNamara , Chief Financial Officer, SAP Australia and New Zealand (ANZ). Himashi Soriano , Managing Director, APAC, Association for Financial Professionals. Gina McNamara, Chief Financial Officer, SAP Australia and New Zealand (ANZ).
Key Features Predict Signals As a part of the Planful Predict suite of AI/ML capabilities, this tool spots suspect differences and unusual data using AI-driven anomaly detection. It helps you catch errors before it's too late, highlighting potential slip-ups, broken formulas, and financialdata mistakes.
. “Data within AP and AR systems used to be difficult to analyze because static data points don’t always tell a story,” said Rinke, “but with process mining, organizations can finally see their information within the context of a process.” ”
Automation and Technology: Leverage financial software and technology solutions to automate repetitive tasks, improve data accuracy, and streamline the close process. These tools can integrate with various data sources to provide real-time insights and visualizations that aid decision-making during the close process.
Finding ways to overcome these hurdles is critical since consolidated financial statements hold much power. Investing in innovative technology, such as a cloud-based planning and consolidation platform, gives your finance teams the support they need for financials. Track changes from start to end.
Device Lifecycles: Managing the rapid evolution of technology and consumer preferences for newer devices is a constant challenge, which impacts inventory turnover and pricing strategies. Telcos often have to also maintain inventory of older devices and parts to support their installed base.
Once again the move into a new year offers an excellent opportunity to look at the trends that will dominate business technologies in 2025. One of the key factors for success with agentic AI applications will be providing secure access to enterprise wide data sets for real-time analysis and decision making.
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