Home
 > Research and Reports > TEC Blog > SAP Ushers In Simple Finance on HANA Enterprise Cloud

SAP Ushers In Simple Finance on HANA Enterprise Cloud

Written By: Predrag Jakovljevic
Published On: June 5 2014

At its SAPPHIRE NOW 2014 mega conference, SAP declared war on complexity, in many ways. One example is the introduction of SAP Simple Finance, a set of solutions rewritten for simplicity within global finance departments. SAP has reportedly worked closely with customers to identify the most complex tasks in finance and make them simpler to consume and perform. The result is SAP Simple Finance, based on SAP HANA in SAP HANA Enterprise Cloud under a full subscription model. The product is planned to be released for customers in 25 industries and more than 50 countries to match the local and global requirements of finance departments.
 
SAP Simple Finance takes advantage of the in-memory SAP HANA platform with new real-time insights for CFOs and finance departments that were not easily achievable before, such as for planning, analysis, accounting, consolidation, treasury, financial operations, risk, and compliance. SAP HANA unifies transactions (OLTP) and analytics (OLAP) to streamline and eliminate cycle times and reconciliations of the data, which allows month-end book-closing activities to go from traditional tedious batch to real-time processing. HANA also makes possible rapid planning and forecasting combined with predictive analysis to explore new business models and immediately assess potential effects.
 
In addition to the above speed-related improvements, SAP Simple Finance is also designed to provide a simpler and unified user experience for easy adoption by finance users. By leveraging modern HTML5 design principles, customers also have the option to deploy the SAP Fiori user interface (UI) for personalized and responsive interactions across most common financial tasks . New reporting and analytics capabilities for finance users with self-service access to all information should allow instant insight-to-action ability.
 
Existing SAP ERP customers can move to SAP Simple Finance by transferring their current financial management software assets to SAP HANA Enterprise Cloud (a.k.a. HEC in SAP’s vernacular). In addition, this set of simplified finance solutions can be connected to the portfolio of public cloud applications from SAP for key lines of business such as human resources (HR), procurement, sales, service, and marketing, as well as to the Ariba Network. The latter aims to help companies establish an integrated business ecosystem (trading community) and drive collaboration with customers, suppliers, banks, and government authorities.
 
Last but not least, customers can leverage a large ecosystem of partners established across regions. SAP's cloud ecosystem already includes more than 900 partners engaged as system integrators (SIs), resellers, independent software vendor (ISV) partners, or managed services partners. While the “managed services” term might imply the kind of multitenant public cloud that NetSuite or FinancialForce.com offer, the simplicity of use and subscriptions can help SAP fend off those upbeat cloud ERP providers. Even more, the new real-time capabilities might render Oracle Hyperion, IBM Cognos, UNIT4 OCRA, Infor EPM, and similar popular financial consolidation and planning and budgeting solutions obsolete in SAP finance shops.
 
comments powered by Disqus

Recent Searches
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others

©2014 Technology Evaluation Centers Inc. All rights reserved.