Deloitte SAP Finance Transformation Accelerator
2 likes635 views
The Finance Transformation Accelerator by Deloitte aims to streamline financial transformation processes for organizations through a preconfigured SAP technology solution. This accelerator addresses common challenges such as manual processing and inadequate reporting by leveraging automation and best practices, ultimately enhancing efficiency in areas like working capital management and financial reporting. Deloitte combines deep technology expertise with business strategy to deliver faster implementation and greater value from financial technology investments.
Deloitte SAP Finance Transformation Accelerator
- 1. 1 Finance Transformation Accelerator Get there faster Finance transformation is a double-edged sword. On one hand, it can have a significant positive impact on business results. But it can also require a considerable commitment of key talent and resources for an extended period of time. That’s why no organization takes finance transformation initiatives lightly. It’s important to get them right.
- 2. Finance Transformation Accelerator 2 Although finance transformation initiatives can take vastly different paths based on the company, industry, and marketplace factors, many challenges are common across virtually all transformation initiatives. These challenges can be planned for from the start. Manually intensive transactional processing, multiple sources of financial data, conflicting legal and management reporting, insufficient reporting, aging systems—these issues come with the territory. Finance leaders can generate early successes and build momentum by deploying technology that takes aim at these challenges—by getting their house in order before unexpected challenges come knocking. That’s where the Finance Transformation Accelerator can help. After years of working with CFOs and finance leaders at many of the world’s most respected and well-known companies, we have taken the insights garnered from these experiences to create a single package of SAP® technology that targets some of the most common— and difficult—finance transformation challenges. Start smart Developed by our most senior finance-focused professionals, built-in collaboration with SAP, implemented in SAP Business Suite on SAP HANA® , and informed by Deloitte’s years of hands-on experience helping clients with their transformation efforts, the Accelerator can help companies significantly streamline their approaches in key areas such as working capital management, closing, and financial reporting. Finance organizations in the midst of transformation should balance a wide range of missions at the same time. They don’t have the luxury of pressing “pause” on the multitude of critical activities they undertake every day, week, and month. This can be a steep challenge, and yet many of the world’s best-run finance organizations make it work every day. How?
- 3. Finance Transformation Accelerator 3 Finance transformation isn’t for the faint of heart. It takes a steady, experienced hand to keep all the project parts moving in the right direction—which in turn requires a team whose technical expertise is matched by business insight. That’s where we excel. At Deloitte, we realize the importance of combining deep technology experience with practical business strategy. We have access to an unmatched range of capabilities across consulting, financial advisory services, tax, and risk management worldwide. For finance organizations, that means we know how to put enterprise application strategies to work solving their finance transformation needs—and delivering more value from their technology investments. How we can help We have leveraged SAP Business Suite on SAP HANA® as a basis to help solve the most common issues experienced during implementations, and we have added dozens of enhancements that accelerate speed to value. This preconfigured solution enables rapid implementation by providing the ability to demo the solution on day one to lessen the learning curve of a new system; seeing the possibilities faster when prototyping on top of a fully functional baseline solution; shortening the development lifecycle using the delivered baseline configuration and best-practice enhancement as the starting point. This proven solution will reduce documentation time with pre- delivered business process flows, business process procedures, and functional specification. With the core solution already built, focus your time on your unique requirements that add value. Here are some of the specific areas the Accelerator is preconfigured to address:
- 4. Finance Transformation Accelerator 4 Receivables management Payment processing • Provides custom preprocessor with enhanced invoice and reference matching and mapping guide for all electronic payment types into a common format for auto cash processing • Uses mathematical algorithms for payments without remittance • Delivers custom remittance upload tool • Gives automatic reason code assignment based on billing details • Enables cross-company cash application • Delivers custom reporting capabilities on results of automated cash application Collections management • Delivers collection strategies based on best practices • Enables payment plan creation through promise-to-pay, including installment plan facility • Activates worklist generation below the payer level Credit management Utilizes customization with EhP6 to integrate FSCM Credit Management with SAP SD and FI without the use of Exchange Infrastructure (XI); this customization improves performance and transaction capacity Biller direct Allows customers to view the details of their accounts, obtain invoices, and initiate payments via portal Dispute management Automates responsibility assignment of dispute cases through custom enhancements Payables processing Vendor invoice management with OpenText • Delivers PO- and Non-PO-based solutions using OpenText Vendor Invoice Management to facilitate vendor invoice processing • Provides workflow-based invoice processing Payment processing Delivers cross-company payment processing through in-house cash internal banks Travel management Allows integration of expense entry with accounts payable Working capital management Electronic bank statement Provides leading-practice bank statement processing to automatically reconcile bank statements In-house cash • Allows for reduction of physical bank accounts through creating internal in-house cash centers • Supports centralized outgoing payments to vendor, reducing administrative overhead and bank fees Cash management Provides analysis and reporting of cash flows for making informed cash management decisions and payment optimization Asset lifecycle management Asset accounting • Full capital lifecycle from acquisition to retirement is available • Utilizes best practices with Project Systems and integration into Asset Accounting for capital lifecycle Parallel accounting integrated into SAP General Ledger Enables parallel accounting of fixed assets in multiple accounting standards, integrated with parallel ledgers in the SAP General Ledger Forecast-to-report Transactional processing Delivers custom enhancements for journal entry upload from Excel and basic workflow Fast Close Cockpit Tracks and manages the close process through the Fast Close Cockpit Intercompany reconciliation Automates intercompany reconciliation and reduces manual work effort Parallel accounting Supports multiple accounting standards, including US GAAP, IFRS, and local statutory accounting Financial Master Data Accelerators Upload capabilities for GL accounts, cost center, profit centers, hierarchies, GL Balances, and cost center plans Profitability analysis Cost-based COPA active to capture key data for profitability reporting
- 5. Finance Transformation Accelerator 5 • Accelerates implementation by using preconfigured content • Reduces time on technical design • Institutes best practices that are built into the latest technology • Delivers ready-to-demo content on day one of implementation • Reduces manual effort and errors through increased automation of transactional processing and reconciliations • Provides greater data granularity and reporting capability • SAP HANA increases the speed and accuracy of the finance processes by leveraging in-memory computing to provide real-time transaction processing and analytics Bottom-line benefits
- 6. Finance Transformation Accelerator 6 We’ve helped some of the world’s leading financial organizations make their finance transformation efforts run more smoothly and effectively with the Finance Transformation Accelerator. Here are some insights from our experience: How to get more value from the Finance Transformation Accelerator 1 Focus on process. No matter how good the technology, if it’s deployed in support of inadequate processes, it won’t deliver enough value to justify the investment. Don’t start implementing new solutions before you have a clear, shared understanding of how processes will contribute to your goals. The Finance Transformation Accelerator covers key financial processes, including Order to Cash, Procure to Pay, Forecast-to-Report, and Closing. 3 Stick to the rules. Finance and accounting policies and procedures are developed for good reasons. Use clear communications to make sure everyone follows the rules. The Finance Transformation Accelerator includes “built-in” procedures that can enhance the communications process. 2 Get your data under control. World-class finance capabilities depend on quality data. Before starting down the finance transformation path, make sure you have a global master data governance policy in place to help address data quality challenges. The Finance Transformation Accelerator includes a leading-practice structure already enabled, which will allow for a jump- start on data analysis. 4 Automate with transparency. Effective solutions combine a high level of automation with transparency where it counts—think balanced accounting entries and tracking source transactions. That way, you have access to the information and context you need.
- 7. Finance Transformation Accelerator 7 Each of these preconfigured, end-to-end solutions is targeted at specific industry or business challenges and can be used in conjunction with the Finance Transformation Accelerator to create a client-specific solution: • Deloitte Consulting’s Advanced Manufacturing Solution for SAP Software (DCAMMS) • Deloitte Consulting’s Aerospace Defense Preconfigured Solution (DCAPS) • Deloitte Consulting’s Distribution Solution for Wholesale Distribution Businesses (DCoDS) • Deloitte’s Consumer Products Food Beverage Solution (DCPFB) • Deloitte Consulting’s High Tech Preconfigured Solution (DCHiPS) • Deloitte’s SAP Life Science Preconfigured SAP Solution (LSPCS) Related offerings
- 8. About Deloitte This publication contains general information only and is based on the experiences and research of Deloitte practitioners. Deloitte is not, by means of this publication, rendering business, financial, investment, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte, its affiliates, and related entities shall not be responsible for any loss sustained by any person who relies on this publication. As used in this document, “Deloitte” means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Copyright © 2014 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited Contacts Additional information Please visit: www.deloitte.com/us/sap John Steele Principal Deloitte Consulting LLP johnsteele@deloitte.com Kelly Herod Principal Deloitte Consulting LLP keherod@deloitte.com