Transcript
SAP Financial Closing cockpit
Streamlining the Financial Close with SAP Financial Closing cockpit
2009-11-25 Linda Lehman SAP Svenska AB
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 2
1. Financial Close – Business Challenges
2. SAP Financial Closing cockpit - Automation and Collaboration
3. Demo
4. Wrap Up
Agenda
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 3
Efficiency Fast cycle time Fewer resources Significant cost
savings
Compliance Efficiency
Transparency
Compliance Documentation of
process for audit trial Enterprise-wide
monitoring of closing status and delays
Enhanced oversight of internal control
Transparency Consistency and
reliability of results Centralized control and
monitoring Real-time error detection
Corporate governance imperatives require a greater control and supervision of the financial close and reporting cycle
The Financial Close – Critical to Compliance
Financial Close Requirements
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 4
Achieving Closing Excellence – Our Major Principles
1. Insight – Financial and operational
2. Collaboration – Share common information
3. Automation – Reduce manual processes
4. Control – Exception-based management
5. IT Simplification – One platform
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 5
Business Benefits – From Optimized Closing Cycles
Business Benefits Some Benchmarks
Reduced costs of finance and compliance
Increased investor confidence
More time for making decisions based on reliable data
Days to Close Annual Books
Staffing Levels (FTEs) per $Billion Revenues
10,1
4,1
3,3
10,2 9,8
2,3
G/L and Closing
Analysis and Reporting
Best in Class Average
Just as organizations have undertaken process automation in other operational areas of the business, so must finance now take a hard look at the financial reporting process. Enterprises will need to invest in efforts to institute reliable and sustainable processes that are automated with the help of technology. This frees finance for the value-added activities that organizations really need.” IDC, 2006
Source: ASUG Benchmarks 2006
“
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 6
It was so frustrating for staff to deal with all our inefficiencies that they had pretty much given up trying to be fast.“ CFO of a $26 billion oil and petrol-retail company
“
Fragmentation Spreadsheets Decentralized
Database
Lack of status over- view of closing process
Error detection late in the process
Ineffective coordination
Missing “Global Game plan” for closing
Email-driven communi- cation of guidelines and deadlines
Manual “Hands-on” closing procedures
Management vs. Legal Accounting – 2 worlds
Long close cycle times & high error potential & high cost
High potential of frustration
Barriers to a Financial Close – 4 Areas of Risk
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 7
Integrate and Consolidate ERP Platforms
Simplify user access
Standardize and Automate Harmonize Legal and Management
Accounting Establish 'Self-Auditing' Processes
Define Closing Process centrally Provide Workflow and Coordination
Ensure Reliable Reporting and Decision Support
Monitor Closing Status centrally
SAP Enhanced Financial Close – Breaking the Financial Close Barriers
SAP
Enha
nced
Fin
anci
al C
lose
So
lutio
n M
ap
IT Systems
SAP Software Solutions
Organization
Processes
Insight & Control
CFO Strategies
Enterprise Performance Management Process Control Monitoring SAP Financial Closing cockpit
SAP Financial Closing cockpit SAP BPC SAP Workflow
Audit Information System SAP BPC Inter-company Reconciliation New General Ledger
SAP NetWeaver Portal SAP NetWeaver BI and Analytics SAP ERP Financials SAP Business Objects Enterprise
Barriers
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 8
Financial Close with SAP – Driver of Savings and Benefits
Benefits of a streamlined financial close Improved control systems and
processes at lower cost
Greater quality and greater efficiency
Faster access to financial information for decision making
More time for value add financial analysis
Ability to respond to management requests and support key initiatives
Work-life balance for accounting staff
Benchmarks from SAP's case studies and success stories % Impact
Operating Costs
Time to close books (cycle time) 25% - 45%
Financials staffing levels 20% - 45%
Reconciliation costs (e.g., data sources, legal accounting, management accounting, inter-company)
50% - 80%
Chart of Account maintenance 30% - 50%
Ledger maintenance costs 20% - 40%
Report data collection and distribution 25% - 50%
Internal and external audit costs (“self-auditing processes”)
10% - 20%
World-class companies spend 45% less on their closing and reporting efforts than other companies and save €5.5 million for every €1B in revenue. “
The Hackett Group
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 9
1. Financial Close – Business Challenges
2. SAP Financial Closing cockpit - Automation and Collaboration
3. Demo
4. Wrap Up
Agenda
© SAP 2007 / Page 10
SAP Financial Closing cockpit – Providing the global game plan for the close
Closing Preparation
Local Close
Group Close
Audit Support Report
Valuation for
Accounting
Financial Closing cockpit
Audit Information System (AIS)
New General Ledger SAP BPC
Data Retention Tool
(DART) Financial Analytics
Supports standardization across closing periods and subsidiaries
Accelerates the closing process and improves user productivity
Creates transparency and supports compliance
SAP Financial Closing cockpit
Intercompany reconciliation
Define Global Plan for Close
Consolidation & Audit
Corporate Finance
Analyze Group Results
Corporate Management Group Close
Monitor Close Globally
Corporate Finance
Corporate Finance
Corporate Finance
© SAP 2008 / SAP Financial Closing cockpit/ Janet Salmon / Page 11
SAP Financial Closing cockpit – Value Add for all Enterprises
Local Close on Subsidiary Level
Local Accountants
Submit Data Consolidation
Analyze Local Close Results
Prepare for Consolidation
Local Accountant
Execute Local Close Tasks
Local Accountants
Management
SAP
Fina
ncia
l Clo
sing
coc
kpit
Local Accountant
Prepare Local Close
Collect Data from Subsidiaries
© SAP 2008 / SAP Financial Closing cockpit/ Janet Salmon / Page 12
SAP Financial Closing cockpit – Concept of the Application
Analyze Execute SAP Financial Closing cockpit
Monitor
Plan
© SAP 2008 / SAP Financial Closing cockpit/ Janet Salmon / Page 13
Execute Local Close
Tasks
GL Accountant
Submit Data to
Consolidation
Analyze Local Close
Results
Prepare Data for
Consolidation
Asset Accountant Cost Accountant Corporate Accounting Local Accountant
Define Global Plan for Close
The template contains all default tasks related to the local close and a relative default schedule
Based on the milestones defined for the global close the template defines the detailed schedule of the local close per subsidiary
Creation of templates can even be organized under corporate responsibility to ensure a harmonized closing process across subsidiaries
SAP Financial Closing cockpit – Template - 1
Prepare Local Close
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 14
The template documents who is responsible for processing each close step
The template specifies the standard start time for each task with respect to a key date. It also contains the default duration for the task, based on experience in previous closes.
SAP Financial Closing cockpit – Default Project Plan
© SAP 2008 / SAP Financial Closing cockpit/ Janet Salmon / Page 15
Execute Local Close
Tasks
GL Accountant
Submit Data to
Consolidation
Analyze Local Close
Results
Prepare Data for
Consolidation
Asset Accountant Cost Accountant Corporate Accounting Local Accountant
Define Global Plan for Close
The task list contains all tasks related to a concrete close cycle and the absolute schedule for the tasks
The task list is generated from the template and adjusted according to the concrete closing cycle of the subsidiary
Generation of task lists can even be organized under corporate responsibility to ensure a harmonized closing process across subsidiaries
SAP Financial Closing cockpit – Task List - 2
Prepare Local Close
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 16
Template: Factory Calendar and Variables Task List: Key Dates for Variables
Timeline in Web Application
Tasks with a negative offset are moved backwards if they fall on a
non-working day
Tasks with a positive or zero offset are moved forward if they fall on a
non-working day
SAP Financial Closing cockpit – Scheduling based on Factory Calendar
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 17
The template lists all tasks associated with the close and sorts them by folder.
All tasks in the template are classified by closing type
Thus, a single template can contain all tasks used within closing. As the task list is created, the system will determine which tasks are relevant to that close, e.g. month-end close for December 2008 and filter out any tasks that only apply to other closing types.
SAP Financial Closing cockpit – Closing Types
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 18
Where the same close tasks are performed in multiple company codes, group them in one folder of type „company code“. Then assign the individual company codes to that node using „Change Characteristic Values“.
Folders can be used to group tasks in the template by organizational unit.
A node can be created of type „controlling area“ and the appropriate controlling areas assigned for the CO tasks.
The organizational units are passed to the variant for the job as the job is scheduled
SAP Financial Closing cockpit – Organizational Units
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 19
Run Reports with/without Variants
Perform Manual Transactions
Execute jobs (CCMS or SAP CPS)
Include Notes as Tasks
Include Documents
SAP Financial Closing cockpit – Types of Tasks and Help
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 20
Set „Critical Path“ flag to identify key tasks in close
Visualize Task Dependencies
Define Dependencies in Template: For each task define which jobs must be completed before that task can start
SAP Financial Closing cockpit – Dependencies and Critical Path
© SAP 2008 / SAP Financial Closing cockpit/ Janet Salmon / Page 21
Define Global Plan for Close
Prepare Local Close
GL Accountant
Submit Data to
Consolidation
Analyze Local Close
Results
Prepare Data for
Consolidation
Asset Accountant Cost Accountant Corporate Accounting Local Accountant
Execute Local Close
Tasks
The generated task list can be accessed and processed by all stakeholders, either using SAP GUI or Web Dynpro application
The authorization object F_CLOCO controls template and task related activities
The task list can contain scheduled batch jobs, reports to be started manually or just text descriptions of manual activities
SAP Financial Closing cockpit – Scheduling Tasks
© SAP 2008 / SAP Financial Closing cockpit/ Janet Salmon / Page 22
Define Global Plan for
Close
Prepare Local Close
GL Accountant
Submit Data to
Consolidation
Prepare Data for
Consolidation * *
Asset Accountant Cost Accountant Corporate Accounting Local Accountant
Execute Local Close
Tasks
Analyze Local Close
Results
The status and progress of the local close can be displayed as BI queries that provide realtime access to the close figures
This enables corporate managers as well as managers of the subsidiary to monitor the status of the closing process on their levels of responsibilities
SAP Financial Closing cockpit – Monitoring of the Closing Status
Corporate Manager Local Manager
© SAP 2008 / SAP Financial Closing cockpit/ Janet Salmon / Page 23
Prepare Local Close *
GL Accountant
Submit Data to
Consolidation
Prepare Data for
Consolidation *
Asset Accountant Cost Accountant Corporate Accounting Local Accountant
Execute Local Close
Tasks
Analyze Local Close
Results
Define Global Plan for
Close
Financial close related reports available in the 'Report Launchpad' and in the 'SAP Financial Closing cockpit'
These reports help to improve the template based on clear insights for the next closing cycle
SAP Financial Closing cockpit – Continuous Improvement of the Closing Cycle
Gain insight Optimize
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 24
BI-Reporting: Schedule Overview
SAP Financial Closing cockpit – Reporting to improve the Closing Cycle
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 25
BI-Reporting: Status Overview or by Unit
SAP Financial Closing cockpit – Monitoring of the Closing Cycle
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 26
BI-Reporting: Schedule Monitor
SAP Financial Closing cockpit – Reporting to improve the Closing Cycle
© SAP 2008 / SAP Financial Closing cockpit/ Janet Salmon / Page 27
BI-Reporting: Schedule Analysis
SAP Financial Closing cockpit – Reporting to improve the Closing Cycle
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 28
Existing Scheduling System
SAP Financial Closing cockpit – A Look under the Hood
* SAP Central Process Scheduling by Redwood is required for:
Scheduling and Monitoring in heterogeneous IT landscapes
Real-time status of
remote chains
Cross-system
Cross-client
SAP Central Process
Scheduling by
Redwood *
(brand new version with new capabilities, fully
integrated into SAP NetWeaver)
Event-based scheduling
Parallel processing
FI MM CO SD
SAP NetWeaver
. . .
Non-SAP Retail
SAP NW BW
SAP CRM 7.0
SAP SEM-BCS
SAP Financial Closing cockpit
(capsulated in business function
FIN_ACC_LOCAL_CLOSE of SAP ERP 6.0.3)
Statistics and
benchmarks
…
SAP ERP 4.7
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 29
Together with SAP Central Process Scheduling by Redwood the SAP Financial Closing cockpit can manage processes across the Enterprise –
Including SAP and non-SAP systems
• Enables enterprise-wide control and monitoring of closing cycle processes
• Reduces latency between dependent processes and data sources
• Increases automation and reduces error-prone manual processes
• Provides more reliability and integrity of results
• Documents process flows for auditing and compliance
SAP Financial Closing cockpit – Mixed IT Environments enabled by SAP CPS
Valuation for
Accounting
Closing Preparation
Local Close
Valuation for
Accounting Group Close
Audit Support
Closing Preparation
Local Close
Report
Valuation for
Accounting
Closing Preparation
Local Close Subsidiary 1, Systems i {1 – m}
Subsidiary 2, Systems i {1 – m}
Subsidiary n, Systems i {1 – m} …
Subs
idia
ries
SAP Financial Closing cockpit
& SAP Central Process
Scheduling by Redwood
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 30
Demo
Demo
SAP Financial Closing cockpit
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 31
1. Fast and Reliable Financial Close – Business Challenges
2. SAP Financial Closing cockpit - Automation and Collaboration
3. Demo
4. Wrap Up
Agenda
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 32
SAP Financial Closing cockpit – What is it about?
It is an SAP ERP based application to plan, execute, automate (*), monitor, and analyze local closing tasks even in heterogeneous system landscapes (*)
It provides the 'global game plan' for the financial close
It enables enterprises to standardize and automate their 'best-practices' for the closing process in a powerful and end-user friendly application which is easy to implement
It lowers costs and time commitment, it improves data quality, it reduces error-rates and it completes visibility into what is being done, when and by whom
It has comprehensive business values for all enterprises by offering improvements in some of the most
important areas of responsibility of a CFO !
(*) For usage in heterogeneous system landscape and for some automation purposes the SAP Central Process Scheduling by Redwood is required
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 33
also for remote tasks
also for remote tasks
also for remote tasks
also for remote tasks
Cross-system & event-driven
scheduling of tasks
SAP Central Process
Scheduling by Redwood
Transparency
Monitoring insights in closing for
all levels
Usability
User-friendly execution Portal integration
Organization
Global game plan 'Best run' template concept
Accessibility
One single point of access
Compliance
Documentation of all closing activities
Efficiency
Reduction of manual efforts Automation of tasks
Reduction of error-rates
SAP Financial Closing cockpit
Your integrated tool for the local close
SAP Financial Closing cockpit – Areas of Improvements
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 34
Questions ?
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 35
Thank you!
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 36
Hierarchy View
1. Select Task List for Close in Progress
Role-based System Access
2. Closing Cockpit is Started as Separate Session
Graphical View
SAP Financial Closing cockpit – Via SAP NetWeaver Business Client
© SAP 2009 / SAP Financial Closing cockpit – Client facing Detail Presentation V.5 / Ralph Schöpfer / Page 37
Graphical View Hierarchy View
1. Select Task List for Close in Progress
2. Closing Cockpit Starts in Separate Window
Role-based System Access
SAP Financial Closing cockpit – Via SAP NetWeaver Enterprise Portal
© SAP 2009 / SAP Financial Closing cockpit – Customer Presentation V.1 / Speaker Name / Page 38
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