How can SAP S/4HANA and the Cloud transform your finance department?
Finance has historically been slow to adopt Cloud as a technology. In the research study co-sponsored by SAP with CFO.com, called Shaping the Finance Function of Tomorrow, finance executives are now becoming more open to placing their financial processes into the cloud:
86% of respondents agree that their finance functions will be pressured to make greater use of cloud computing over the next two years. Many finance executives emphasize cost savings, data storage, and data access benefits of cloud computing.
About three-quarters of the respondents recognize the benefits of speedier implementation (74%) and easier updates (77%) that cloud technology offers.
Just as often mentioned is the imperative to free up finance resources for higher-value analytical tasks, which is also encouraging many companies to make greater use of cloud computing.
Business is changing because of the impact of going digital. Ensuring that there are digital processes across an enterprise impacts finance. Companies can’t be digital if they are not real time cross the entire business processes which includes finance.
Companies can embrace digital value networks to enable business transformation through:
Running in real-time, enabling you to transform every business process enterprise-wide to achieve new levels of performance and competitive advantage. Digital experience with uber, these processes ends with immediate invoice seamlessly, automating processes such as invoicing to be touchless.
Empowering the business to identify issues quickly, immediately evaluate available options, select the best combination of options, and then immediately initiate workflow to execute the action. This includes on the fly adjustments and analysis by any
Simplifying technology by eliminating and streamlining process steps, data aggregates and data tables and systems ( should also relate to implementation and maintenance)
This all means that companies can innovate for the future by rapidly identifying and building new business models and new business processes to capitalize on real-time market opportunity
What is a digital value network and how does a digital value network enable business transformation?
The digital value network starts with a digital core (SAP S/4HANA) which interconnects all aspects of the value network in real-time to drive business outcomes. It gives companies the opportunity to re-platform core business processes and bring together business processes with transactions, analytics and planning in real-time to enable a smarter, faster and simpler enterprise.