Eventful Conferences has spent 20 years building professional learning communities for organizations using SAP across industries and lines of business. We have applied our tried, tested and celebrated model to SAP-Centric Financials to bring in the best content for our customers.
Eventful Conferences has dedicated the past three months to conducting extensive customer-centric research through face-to-face discussions with 100+ individuals comprising over 50 organizations utilizing SAP. Our research sessions consisted of representatives from a wide range of sectors including retail, technology, education, services, manufacturing, telecom and oil and gas.
Benchmark your organization’s pains and challenges by checking out the topics numbered below for the five high-level themes we uncovered during our research. Be sure to download the complete report (fill out the form to the right) for the full, in-depth findings on areas such as:
Organizations are looking to embrace the digital age and harness the power of technology to maximize operational performance. S/4HANA Finance has already been widely adopted and is showing strong benefits. It is revolutionizing the way businesses operate, make decisions and ultimately, is shaping finance into a strategic part of the business. Those organizations not running S/4 HANA Finance know that the deadline to move is fast approaching and need to take steps to prepare for the transition.
Enhancing the User Experience
Once implementation has been completed, it is imperative to make sure that users have the resources to get the maximum benefit out of their SAP experience. A holistic user experience needs to be developed and implemented to keep users engaged, trained and working together with IT. With so many user offerings available from SAP, it is important to understand the best solution for each business scenario.
Revenue Recognition and Lease Management
The new Generally Accepted Accounting Principle’s guidelines regarding RevenueRecognition have caused many organizations to re-evaluate their current reporting
standards. Previously, while guidance around revenue recognition differed in GAAP andInternational Financial Reporting Standards, both identified the need to improve and vastly synergize the guidance. Public organizations are already expected to comply with the standard and private entities must align by December 2018. In early 2016, FASB issued an accounting standards update related to the financial reporting of leasing transactions. Many organizations are transitioning to the new rules. Under the new standard, companies will include leased assets and the related obligations on their balance sheets, in addition to classification changes to the income and cash flow statements. These new standards can either hinder or improve an organization’s ability to present revenue to stakeholders.
Organizations expect financial close to run smoothly and the smallest change can drastically complicate the delicate process. This isn’t news to anyone but as businesses grow and evolve to meet new opportunities, the same old ways of doing business aren’t enough - and financial professionals know it. Finance executives seek to learn and develop a close process that is more agile.
Financial Master Data Management
Data is the lifeline of your SAP financials system. Incorrect data can skew reporting and affect the accuracy of your financial forecasts. Whereas, clean and trustworthy data allows companies to make informed decisions and effectively evaluate their existing business processes. While there is no single solution for managing data, both good governance and effective processes, as well as some clever tools, can certainly assist in tackling the problem.