How To Manage Business Processes In The Most Effective Manner?

SAP SE a German multinational software corporation is known for its enterprise software’s which help organizations to manage business operations and maintain customer relations. SAP stands for Systems, Applications and Products in data processing. SAP system is a complete software package for business which is designed to address requirements of all areas in the business. It provides end to end solutions for businesses to meet financial, logistics, manufacturing, distribution needs. All these processes are run in a unified SAP system which shares common information across each system. SAP functional modules include FICO, PP, MM, SD and HR.  SAP technical modules include ABAP, XI, Net Viewer, Basis and BIW.

Overview of SAP BPC

In order to be on top of business processes and dynamic economic conditions, Organizations must adopt innovative ideas to speed up.  Traditional way of planning, budgeting, financial reporting etc. are often inaccurate and sometimes outdated. Organizations can streamline their financial processes using the SAP BPC application to instill confidence and reduce the associated risks.

SAP BPC which is abbreviated as BusinessObjects Planning and Consolidation is a performance management tool for corporate businesses intended to cater the business needs like planning, budgeting, forecasting, consolidating and easy reporting. The tool can be used for both simple, complex or multi-layered processes.

SAP BPC is a tool for financial processes on a single platform and it is a component of SAP EPM portfolio. Exclusively designed to cater the needs of end users, SAP BPC helps in planning, consolidation as well as financial reporting. The tool provides a real-time insight into the relevant data and assists better planning. The tool is available in two versions- Microsoft Platform version and SAP NetWeaver version. You can make quick adjustments to the plans or forecasts, manage budget cycle time, ensure regulatory and financial compliance or standards and make more confident and accurate decisions with the BPC tool.

Main Features of SAP BPC

• With the OLAP technology, the data is dynamic in SAP BPC. i.e. the data will be available as soon as it is entered  and there will be no need to aggregate data.

• The Multidimensional nature of the tool allows users to slice and dice the business data according to their requirements.

• Organizations can easily manage their workflow, keep track of its progress using the forecasting procedure.

Other Key Features of SAP BPC

• Provides consistency and visibility to the business workflow.

• Assists in aligning the budgets with the targets with its top-down and bottom-up approaches.

• Intuitive interfaces like MS Office and Web-based interfaces. 

• Automates the consolidation capabilities in order to speed up the financial closure activities.

• The tool complies with regulations and standards like International Financial Reporting Standards and GAAP. The audit process becomes much more flexible and easier.

• Ability to view real-time financial data based on reporting needs in order to assist management in statuary consolidations.

• Provides What-if analysis and scenario planning. This helps to model different scenarios in order to assess potential outcomes.

• Features Variance reporting which has the ability to compare plans versus the actual results. It also figures out the potential causes for such variances.

Advantages of using SAP BPC

• Provides accurate plans, forecasts and budgets.

• Provides collaboration, accountability and increased stakeholder confidence with speedy and accurate financial closures.

• Real-time and reliable financial data helps reducing planning time and consolidation cycle time.

• Central data repository offers improved data quality. Reduced compliance risk and accurate reporting features.

Organizations who are struggling with reduced profits, loss in revenue, increased headcount costs, inefficient processes and complicated financial reporting systems can use SAP BPC to streamline their processes.  SAP BPC provides ultimate tool support to aid decision making and to implement corrective actions.

Organizations can initially implement the SAP BPC to address issues with one of their business process and easily extend the implementation across other processes. Be it Management consolidation, business modeling, forecasting, planning or budgeting. The unique feature of SAP BPC is its organic scalability.