Group Reporting with S/4HANA
Real-time consolidation and validated data from subsidiaries’ financial statements do not have to remain a vision, they can become reality. By eliminating time-consuming loading, analysis and reconciliation routines and using the Universal Journal as the sole data source, the path to continuous consolidated financial statements is free.
From a technical point of view, the consolidated financial statements are usually prepared using established software architecture and based on fixed prototypes. On specific reporting dates, the subsidiaries local data is loaded from the accounting systems into the consolidation module.
This results in transaction and master data being held redundantly - and consolidation reports can only be produced on pre-defined reporting dates. Time can get pretty tight in such circumstances.
In today’s environment where there is a need for highly efficient financial processes, it is no longer acceptable to work with such a lack of flexibility. The new SAP solution S/4HANA Group Reporting, which brings together the best functions of previous consolidation solutions, allows the accounts to be closed more quickly and more effectively.
SAP Group Reporting - the consolidation solution integrated directly into S/4HANA
With SAP Group Reporting, you can bring financial accounting and consolidation processes together. This enables you to directly access the S/4HANA master data and transaction data for consolidation purposes, and also perform validations and reconciliations.
All data is taken from the SAP S/4HANA Universal Journal. This results in a reduction of time and errors. Last but not least, Group Reporting allows real-time data access – which will open up opportunities for continuous closing.
More effective and efficient corporate management through centralization
Financial key figures can be retrieved real time, whenever needed, and if required, consolidated between reporting dates, which enables group control to be managed more effectively.
We can help you to leverage the potential of SAP's next-generation consolidation solutions. When introducing a new consolidation solution, we take into account, not only your IT financial architecture, but also your financial processes and specific control requirements.
SAP Group Reporting is a tool with which you can completely map your business requirements from Group Accounting & Controlling.
The introduction of SAP Group Reporting enables you to make a paradigm shift in your consolidated financial statements.
- Real-time data access
- Continuous closing - redundant data management becomes obsolete
- Fast and direct access to critical financial key figures of local units enables efficient corporate management
- Universal Journal as the only source of information is the basis for completely consistent data along the closing process
- Shortening the closing time by optimizing the consolidation processes
- Elimination of IT-intensive loading routines
- Reduction of time-consuming coordination and analysis processes
- Standardization of financial processes creates transparency in the closing process
- Carrying out pre-consolidation activities directly at the source of the data
Benefit from real-time consolidation and streamlined processes
Real-time consolidation no longer needs to be a vision – it can become a reality. ConVista can help you implement group reporting.
Why work with us? We can provide:
- Experts for the development of consolidation solutions and the optimization of closing processes with more than 25 years of expertise in the field of consolidated and individual subsidiary financial statements.
- A wealth of experience based on best practices from reference projects and close collaboration with SAP in developing new systems for single and group reporting
- A comprehensive analysis of your business and technical processes, the organization of the units involved and the implementation in the IT system - all from a single source.
The holistic process approach of record-to-report is complemented by our software solution ConVista ConsPrep: