3 Key S/4HANA Benefits For FinanceOctober 3, 2017
Finance is one of the most demanding industries from an IT perspective. It requires the ability to crunch huge volumes of data, derive actionable analysis, and react to market conditions that can change in seconds – all under some of the strictest regulations of any industry today. SAP S/4HANA benefits finance with innovative engineering backed by raw power, driving quicker data access, deeper analysis, and business acceleration.
Top 3 Benefits of S/4HANA For Finance
- S/4HANA Delivers Real-time Financial Reporting
SAP HANA’s in-memory operation gets a lot of press, because it’s an easy innovation to understand -disk is slower than memory. By keeping data in memory, HANA improves performance. But the S/4HANA benefits of combining Online Transaction Processing (OLTP) and Online Analytical Processing (OLAP) are just as important for financial reporting
Traditional database management systems store and process quick, high-volume transactions and complex, analytical queries differently. In practice, that means that although your database can perform transactions quickly, actually analyzing the flow of resources through your business is a time consuming analytical process that needs to be scheduled when demand is low. You can’t report on it as it happens.
With OLTP and OLAP combined, however, S/4HANA Finance lets you observe and analyze the data in real time, from an organization-wide overview to a deep, granular analysis of any financial dimension.
- S/4HANA Accelerates Financial Tasks
Traditionally, financial closing requires organizations to reconcile data sources. Not only do they have to perform the original batch jobs, but if there’s an inconsistency, they also need to track it down and rerun the analysis, wasting time and resources, and potentially delaying closing. By combining OLAP and OLTP into one data structure, HANA allows financial organizations to use a single, consistent source of truth for reporting. Combined with real-time reporting, this accelerates soft and hard closing financial planning and a range of other tasks.
- S/4HANA Benefits Financial Analysis
The improved visibility and analytic acceleration of S/4HANA changes what is possible. Businesses can go way beyond the static data models of the past, and gain almost instantaneous answers to incredibly specific financial queries. This has major benefits throughout the financial organization. You can improve overall business planning, or drill down to optimize particular processes, get better predictive modeling, and explore innovative ideas for better decision making.
S/4HANA Can Be a Finance Game Changer
SAP S/4HANA gives your business the power to use your own data more effectively, respond more quickly to changing market conditions, and innovate business planning. With the right SAP partner, it can revolutionize the way your company does business.
About the Author
Curtis Gaska is a solution architect on Symmetry’s expert SA team, delivering complete SAP® technical solutions from upgrades to complex landscape implementations. Curtis pairs his sound SAP technical expertise with sales skills to knowledgably advise clients, and prospective clients of Symmetry’s services and product offerings throughout each stage of the sales cycle. Curtis has a unique ability to deliver technical knowledge to create customs solutions per the client requirements, by not only taking the technical specifications into consideration but also the business drivers particular to that organization in turn creating an optimal SAP environment. This skilled approached includes scoping, planning, and execution of various projects including Migrations/Upgrades/Installs, Hosting and ongoing Managed Services. He also stays abreast of the latest technologies such as road mapping solutions for client’s to leverage SAP HANA® in their current environment to then be hosted in Symmetry’s state-of- the -art Datacenter.