The opportunities for your Group reporting
SAP extends the maintenance of SAP Financial Consolidation by 3 years.
The maintenance of SAP Financial Consolidation now ends on December 31, 2030
Set the course for your group reporting in good time. The introduction of a new solution can take between six months and almost two years, depending on the complexity of the accounting and reporting requirements. Minimize your risk and switch to the successor solution for SAP Financial Consolidation well in advance:
SAP S/4HANA for Group Reporting
The new strategic solution SAP S/4HANA for Group Reporting for the preparation of consolidated financial statements and group reporting integrates the following strengths of SAP Financial Consolidation, among others:
- Intuitive, definable posting logic
- Automated and easy-to-understand consolidation processing
- Wide range of options for data entry, from automatic integration to web-based data entry
- Efficient mapping of alternative consolidations for simulations (e.g. for price changes, reorganizations)
- Comprehensive reporting including automatic calculation of key figures
With these conceptual similarities in some areas, Group Reporting from SAP is the ideal successor to SAP Financial Consolidation. SAP provides migration tools to simplify the transition. However, these tools only enable the transfer of transaction data between SAP Financial Consolidation and Group Reporting. As a transfer of posting logic is not supported, comprehensive knowledge of SAP Financial Consolidation is essential for the migration to Group Reporting.
Your opportunities by switching to a new group reporting system
With BCS/4HANA and BPC, SAP offers two additional powerful products for preparing consolidated financial statements and group planning. Depending on your requirements, these two products may also be a perfect option. The choice of software is therefore of particular importance here.
See the switch to a new solution for your group reporting as an opportunity and benefit from the technical advancements of these modern products, for example:
- Process optimization to save costs and speed up the preparation of consolidated financial statements
- Integration of internal and external accounting for a holistic view of the earnings, financial and asset situation
- Digitalization and machine learning, for example for intercompany reconciliation
- Automation of posting logic for efficient mapping of reorganizations and simulations
- Informative and intuitive reports and dashboards for efficient analysis and communication of company performance