As more CFOs seek to gain their companies that all-important financial edge over their competitors, they are employing intelligent software programs to help them on their journey to becoming market leaders. One of the most influential new platforms is the SAP S/4HANA program.
Nearly all industries are subject to disruption. To stay at the cutting edge, forward-looking CFOs are looking for ways of taking their finance operations out of back offices where they are languishing. Their aim is to promote corporate finance into a more proactive, predictive function that is driven by intelligent market data.
Taking the finance function to the next level
This recognition of finance’s new role is aimed at turning the operation into much more than a routine discipline. CFOs want finance to be recognised as a strategic value-creating partnership within the enterprise. SAP S/4HANA software is the tool that an increasingly large proportion of finance managers are employing to reach their goal.
What the new breed of FCOs are striving for
Rather than just overseeing accountancy roles, the new breed of CFOs is concentrating their efforts on spotting new areas of business and profit opportunity within the organisations for which they work. It is known that there is a 70% interaction between financial digitisation and financial effectiveness. How digitisation takes place alters things substantially.
Companies that have higher levels of digitisation when it comes to finance planning and analysis are the ones that record the most effective gains. But how is it that these enterprises get to make these gains in efficiency? It all begins with the installation of an effective, intelligent platform – a platform like SAP S/4HANA.
SAP S/4HANA facilitates the evolution of the business finance function
The evolution of the finance function from the old historic reporting mechanism to the status of a strategic business partner is gathering pace in many industries. A greater number of vertical capabilities are being created to underpin the development of intelligent finance protocols. However, to take full advantage of the potential of this data, platforms like SAP S/4HANA need to be installed.
The new SAP platforms can integrate with smart machines and robotics. This helps to eliminate manual transactions with inherent errors. It enables the use of smart machine learning to manipulate the complicated accounting processes that are needed. Improved finance reports mean that automatic analytics on real, live events can happen at any time, on any device.
Artificial Intelligence can then be used to forecast the outcome of business plans and through simulation can predict likely outcomes. Closing becomes simpler and faster, enabling scrutiny of P&L at desired intervals – daily if required.
Time is money
If you would like to find out more about how SAP S/4HANA can help you to drive your business forward, talk to us here at Interprofis – the sooner, the better. After all – time is money.