New Business Models Create Opportunities with SAP S/4HANA
The new digital economy is putting extreme pressure on finance. Discussions with SAP customers have come down to 2 main challenges.
New normal of volatility – it is not just in traditional areas of currency exchange risk and commodity prices but also rapidly changing consumer preferences. In addition, Tax policy volatility, and complex regulatory requirements are challenging finance to provide ever deeper and ever more real time information to deal with those challenges.
The second challenge is the proliferation of business model change, across all industries. Industry lines are blurring and the number or mergers and acquisitions continues to grow, becoming a standard model for achieving growth and innovation. Disruptive competitors are entering the market at an increasing pace. The emergence of digitally enabled business models is forcing finance to become ever more agile and proactive.
As a result, finance is being asked to drive strategy in a whole new different way – providing real time insight and proactive advice on investments, mergers and acquisitions, and on business model transformation.
In addition, finance is asked to support the process of digital transformation across the enterprise. And the sum of these changes has the potential to impact the entire financial value chain: from how we bill, collect, report, and pay taxes, to how we plan for and control the business is going digital and real time.
Enterprises have realized that finance transformation will help drive innovation and manage this volatility.
The path forward
So what is the path forward? How do organizations proceed to reimagine and transform finance?
4 different perspectives:
Strategy: How can organizations easily architect new business models?
Business Performance: How can teams deliver instant insight into the hands of the business?
Risk and Compliance: How can enterprise provide continuous insight into risks, controls and performance?
Efficiency: How can the finance function achieve the vision of automated "Lights-out“ finance processes for routine tasks
Lead finance transformation with SAP S/4HANA