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Recap of SAP S/4HANA 2023 Highlights Webinar: Finance

noboruota
Product and Topic Expert
Product and Topic Expert
2 weeks ago

20240408 - 2023 Highlights - Finance - frame at 0m0s.jpg

 Click on the image or here to view the webinar video recording.

Summary  

In this webinar, we have Michel Haesendonckx discussing the strategic product direction, and planned and delivered innovations in SAP S/4HANA Cloud Private Edition 2023 in the Finance line of business.

Key features, enhancements and roadmap items 

  1. Financial Planning & Analysis: This process supports strategic planning by allowing ad-hoc analysis and providing insights into costs and margins to understand financial performance. This increases confidence in business plans with the help of reliable data. 

  2. Margin Reporting: This feature allows us to track down details not only on Profit & Loss but also on specific balance sheet items. 

  3. Dashboards: There are enhancements in the delivery of complex dashboards that combine information from different sources. These dashboards are designed based on finance foundation in SAP Datasphere directly integrated to the SAP S/4HANA Cloud, to provide more robust financial content from different areas.  

  4. SAP S/4HANA Finance Foundation: This feature provides an end-to-end finance foundation within the SAP Datasphere application, enabling the combination of information from different sources, even those residing outside the S/4HANA system. 

  5. Flexibility in Defining Market Segments: The new release offers more flexibility in defining and updating market segments, independent of the operating concern. 

  6. Profit Center Valuations: The additional ledger for profit center valuation, pricing agreements between profit centers, and the elimination of intercompany margins, allows profit centers to trade at arm's length using transfer pricing. 

  7. Universal Parallel Accounting (UPA): The UPA is a key innovation that extends the ledger concept not only to financial accounting but also to controlling. With UPA, we can establish a parallel value flow across end-to-end processes. 

  8. Carbon Accounting: This is a pioneering innovation that allows transactional carbon accounting within the S/4HANA system as part of the Universal Journal. This is part of the Green Ledger approach where sustainability information is treated similarly to financial data. 

  9. Record to Report: This process ensures that every financial accounting entry is event-based, resulting in reduced manual intervention and improved financial reporting. 

  10. Financial Closing: Enhancements have been made in defining validation rules and the automation of certain tasks in the financial closing process.
     
  11. Enterprise Service Management: This is a next-generation solution supporting end-to-end shared services automation with Generative AI, making it particularly useful for Shared Service Organizations. 

  12. International Trade and Global Tax Management: The release also includes enhancements in trade compliance, tax compliance, and documentary reporting compliance. 

  13. Governance, Risk, and Compliance (GRC): There's a focus on integrating risk management and financial information, facilitated by SAP Financial Compliance Management solution. 

Other Webinars in the Series

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