Financial close management increases in complexity as organizations increase in size along with the number and variety of ERP instances. To centralize or consolidate the financial information from multiple ERP instances, SAPinsider community members can manually report and reconcile the information, centralize information on a non-SAP system, deploy SAP S/4HANA for central finance foundation (also known as SAP’s Central Finance Solution), or plan a consolidation of ERP instances onto a single instance of SAP S/4HANA. SAP does not sell Central Finance as a product, but instead presents it as an implementation option that empowers users to centralize financial data from multiple ERP systems.
In Q3 and Q4 of 2020, SAPinsider surveyed 222 members of our community to understand their needs in central finance and the financial close. We found that respondents’ organizations run an average of 6 ERP instances, and only 12.5% of respondents run 100% of their financial activities on SAP systems. In the long term, 42% of respondents plan to consolidate all of their ERP instances onto a single instance of SAP S/4HANA, 33% plan to deploy SAP’s Central Finance Solution, 13% plan to centralize financial information on a non-SAP system, and 12% plan to manually report and reconcile financial information.
Attend the webinar to:
- Learn what drives organizations in their approach to central finance and financial close
- Discover the top requirements for financial close strategies
- Gain your strategy guidance for optimizing financial data and closing processes