Simplify Your Close Process With Group Reporting

Simplify Your Close Process With Group Reporting

It’s month-end, entries are finalized by Accounting, management reporting has kicked off and consolidation is now up. It has been going smooth for months but this month there was an acquisition. We have new GL’s, new entities to create, and consolidated reporting requires some changes. If you must submit a ticket for IT to make all these changes, this will probably require some time before its all set up accordingly. Why must it be so hard?

Consolidation has come a long way. Maintenance in consolidation should not require a degree in Information Technology. SAPs Group Reporting changes how the team reacts to everyday changes in the business. Empowers the user to be self-sufficient. New consolidation unit, sure, just give me a few minutes to create. The steps are straight forward_

  • Create the consolidation unit

    • Add the name, currency, fiscal period, link it to the universal journal if in SAP, link existing translation method

  • Assign the consolidation unit to a group

No coding language required. No ticket necessary. It is quick, cloud-based, flexible and speeds up consolidation. Even if the source was Non-SAP, the template is there for loading data and having everything centralized quickly for consolidation is a non-issue. Data collection challenges are eliminated with the centralized database and ease to consolidate the data quickly.

Group Reporting includes SAP Analytics Cloud functionality which contains readily available reports to view live data around financial consolidation. It is available all at your fingertips to create different rollups and even more “complex” reporting. Some clients use GL accounts for the financial statements, others use different combinations such as functional areas, cost centers, gl’s… Creating the different reporting rules in Group Reporting is something the super user can also do. Who better to ensure consolidation is being done correctly than the team who reports on it? Group Reporting empowers the users to remain agile especially in times businesses are changing so much. It puts any business with multiple entities ahead of the game by allowing you to make timely and accurate decisions based on real time data.

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