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Special Report Article

 

Achieve Quick, Secure, Non-Disruptive Innovation for Finance

by Bil Khan | SAPinsider, Volume 16, Issue 2

April 1, 2015

Learn about a variety of SAP Solution Extensions offered for SAP financial technologies such as SAP Simple Finance. These SAP Solution Extensions can assist finance teams in staying compliant, keeping up with changing regulations, tightening the security of access to applications and data, reducing manual error, and increasing visibility into relevant data.

 

The value of implementing innovative technologies such as SAP Simple Finance, SAP’s newest global financial solution powered by SAP HANA, is easily discernible. But many companies fail to leverage the full portfolio of solutions available from SAP.

One solution or technology may not be the silver bullet here, but companies have two general options that can help them extend their investment in innovative technology platforms quickly and effectively:

  1. Hybrid solutions that combine the best of on-premise and cloud functionality
  2. SAP Solution Extensions that offer end-to-end solutions to your specific challenges

Let’s take a close look at how hybrid solutions and SAP Solution Extensions can help companies get the most out of their SAP investment.

Automate Financial Processes with a Hybrid Cloud Solution

Deploying a hybrid cloud invoice management solution that leverages a unique combination of on-premise and cloud-based Ariba Network functionality can help companies optimize and automate invoicing processes, reduce processing costs, create global visibility into liabilities and payments, and improve cash flow goals, delivering the benefits of on-premise and cloud solutions in an integrated and collaborative framework.

The SAP Invoice Management application by OpenText acts as a single point of integration between a customer’s existing back-office system and a network that provides a one-to-many connection to virtually all suppliers via a cloud-based platform as well as integration with your disbursing bank of choice. This helps companies gain new levels of visibility, flexibility, and collaboration, including the ability to create workforce efficiencies through an automated, streamlined process; improve working capital management via better visibility into cash requirements; cut costs through automated data extraction, process automation, and control; reduce costly manual errors; and optimize cash discount utilization.

With full visibility of the receipt, approval, and status of all invoices, SAP Invoice Management helps buyers and suppliers work together to eliminate exceptions and speed corrections. Internal collaboration allows your business to resolve cash flow issues, manage early payments, and enhance discounting programs.

Companies can get the most out of their SAP investment by implementing hybrid solutions and SAP Solution Extensions.

Simplify Finance by Staying Compliant

Staying current with regulatory changes and ensuring organizational compliance is anything but simple. But companies in highly regulated industries deal with a wide range of industry, market, and regulatory mandates that change continually, and those regulations have a direct impact on processes throughout the organization, particularly finance. The SAP Regulation Management application by Greenlight allows businesses to confidently assess and respond to regulatory changes, accelerate compliance with new mandates, and reduce financial complexity. 

Control Application and Data Access to Reduce Risk

Organizations need insight into the financial impacts of application access risk to make better, more proactive decisions about access control. The SAP Access Violation Management application by Greenlight enables businesses to simplify finance by assessing the financial exposure created by an organization’s processes and transactions and cutting governance costs.

Organizations also want to manage business authorizations with attribute-based control over data access and usage. The SAP Dynamic Authorization Management application by NextLabs helps businesses manage authorizations, protect intellectual property, and enhance enterprise data security and compliance.

Additionally, as a single point of entry to collect and validate information from lease and revenue contracts, the SAP Lease Administration application by Nakisa enables compliance with the new revenue recognition guidance and proposed lease accounting rules.

Learn More

To learn more about how SAP Solution Extensions can help you make the most of your financial SAP investment, visit http://scn.sap.com/community/solution-extensions.

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Bil Khan
Bil Khan

Director
Global Ecosystems and Channels
RTM Marketing
SAP



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