Finance professionals can resolve longstanding issues aligning operational and financial plans with the new financial planning and analysis (FP&A) capabilities now available in the SAP Analytics Cloud solution, which is embedded in the SAP S/4HANA Cloud.
The new solution for finance provides support for key finance functions including profit and loss, balance sheet, and cash flow planning while simplifying both data collection with SAP S/4HANA Cloud and analytics with SAP Analytics Cloud.
The solution enables FP&A teams to align operational and financial plans and to bring financial and nonfinancial data together to establish a single source of truth, eliminating the typical gulf between financial software and stand-alone spreadsheets and planning products.
The SAP Analytics Cloud application includes planning, business intelligence, and predictive analytics capabilities that enable organisations to automate insights that deliver organisational agility. The machine learning incorporated into the application highlights the key drivers of variances, creates forecasts, and augments data.
“Prior to working with SAP Analytics Cloud, we had created enormous amounts of data, but lacked the tools necessary to plan upon and analyse it,” said Stephen Filreis, director, SAP Program Management, Pratt Industries, an Atlanta-area manufacturer of corrugated boxes.
“Now we understand where we should target our efforts to maximise our collections group’s effectiveness. SAP Analytics Cloud has allowed us to gain visibility into this critical information and get our business users closer to data with intelligent visualisations and meaningful reporting,” said Filreis.