On February 3rd, SAP announced the next evolution of Business Suite -- dubbed S/4 HANA -- with re-written code to leverage HANA’s transactional and real-time analytical capabilities. Complete with a simplified end-user interface based on SAP Fiori, S4 HANA will be available in the cloud (public & private), on-premise, and via hybrid options.
SAP S/4HANA is designed to drive business innovation with simplicity by connecting people, devices and business networks in real time to support the development of new business models across all lines of business and industries.
SAP selected the SAP Simple Finance solution, announced in June 2014, to lead off its S/4 HANA road map and to help customers transform finance with instant insight.
According to SAP, Simple Finance encompasses a full range of finance functions, including planning, analysis, accounting, financial operations and consolidation, to meet the evolving business needs of finance departments.
A selection of SAP Simple Finance’s advanced capabilities and innovations include:
- Providing a single source of truth between transactions and analytics to streamline and eliminate cycle times and reconciliations of the data
- New on-the-fly capabilities for moving finance processing, such as month-end activities, from batch to real time
- Innovative rapid planning and forecasting combined with predictive analysis to explore new business models and immediately assess potential effects on the bottom line
- New reporting and analytics capabilities for finance users with self-service access to all information, allowing instant insight-to-action
- Connections to business networks in real time to establish an integrated business ecosystem and help drive optimal collaboration with customers, suppliers, banks and government authorities
- Global regulatory compliance capabilities across currencies, languages and industries with built-in legal compliance capabilities and continuous risk assessment along all enterprise processes
CFO Gaining Influence Over IT Spending
As a leader in finance solutions for the last several decades, SAP is well known to CFOs across industries and around the globe.
Leading off S/4 HANA with Simple Finance is a smart way for SAP to strengthen its relationship with CFOs and the companies they serve, and a sound strategy for driving adoption of future S/4 HANA solutions.
Chief financial officers are becoming increasingly influential over IT spending. A recent Gartner study shows that CFOs (at 32%) have more influence over IT spending than any other executive alone.
As reported by ComputerWeekly.com, over 40% of respondents to a survey conducted by Forrester Research said that CFOs will gain more influence over technology spending during the next 12 months.
The connection between a company’s IT capabilities and financial leadership is growing increasingly tighter. As Renee Murphy, senior analyst at Forrester Research, said during a Forbes interview, “A failure in finance can impact IT, and a failure in IT can impact finance. You can’t make corporate and/or board-level decisions without understanding that relationship.”
The 2014 Gartner Financial Executives International CFO Technology Study reveals that, in addition to having a major influence on technology spending, CFOs and their finance departments are increasing reliant on technology solutions to perform their duties.
Key findings from the study include:
- The top technology gaps point to a need for business intelligence/analytics investments.
- Cloud use and projections doubled from 2013 for many finance-focused applications.
- Eighty-one percent of organizations forecast a move to the cloud for more than 50% of their future transactions.
- The number of mobile applications is increasing, particularly in large organizations.
- Corporate performance management applications lead BI/analytics investments.
S/4HANA is a new product fully built on the advanced in-memory platform, SAP HANA. While HANA’s accolades for speed are well earned, HANA’s ability to dramatically simplify enterprise architecture, reinforce stability, scale limitlessly, and generate big savings in the process are equally impressive – lessons CFOs will learn in abundance when they begin their organizations transformation by implementing Simple Finance.
To learn more about S/4 HANA, read: 2015: The Year of S/4 HANA.
Test Drive S/4 HANA
Available in the Cloud, on premise and in hybrid deployments, S/4 HANA further enables SAP customers to map out an implementation strategy for HANA the best suits their immediate and future goals.
At NTT DATA, we invest in SAP to ensure that our customers always get the most from their SAP investment.
The NTT DATA SAP Solution Centers are state of the art facilities featuring a wide array of integrated SAP industry, line of business, analytical, and technical products where IT decision makers, using their own data, can experience live demonstrations of the very latest SAP solutions, build business cases for investing in SAP, test enhancements to their existing SAP landscapes, and learn first hand how mobility, enterprise performance management (EPM), enterprise information management (EIM), the cloud, analytics and the power of SAP HANA can drive process improvements, efficiency gains, competitiveness and profits.
NTT DATA customers can expect S/4 HANA to be up and running in the NTT DATA Solution Centers within 45 day of the release.
Schedule a visit to the NTT DATA SAP Solution Center today.
Post Date: 2015-03-13