Here is why every CFO and CIO needs SAP Analytics Cloud
Did you know that despite rampant digitalization, many organizations still largely rely on spreadsheets to perform high-level financial planning and analysis?
This dissonance leads to a situation wherein an organization’s internal processes haven’t quite kept pace with its external modernizations. Concerns like inconsistent data modeling and planning processes across the organization make it harder for top-line executives to effectively discover the true costs and key drivers of profitability for different aspects of their business.
According to The Future of Financial Reporting Survey (2017) conducted by the Modern Finance Forum, 43% of senior finance executives were not privy to how many business-critical spreadsheets were in use in their organization at a time. Over 48% of the participants of this study said that spreadsheets make it difficult to manage the planning processes. Now let’s round up the challenges that any decision maker in any organization is put against in today’s digital economy:
- Inability to harvest actionable insights from Big Data
- Inability to discover true costs and key drivers of business outcomes
- Market responsiveness to disruptions slows down because of a lack of reliable data-driven insights
- Inconsistent modeling and planning processes across the organization
- Lack of confidence in forecasts or plans because of unreliable data
- Unable to augment financial analysis with advanced AI to create more accurate forecasts
SAP Analytics Cloud is a next-generation SaaS solution that is specifically built to support collaborative enterprise planning based on a single source of truth. Now you can make Marketing, HR, Sales, Operations and Supply Chain plans on SAC and gain clear visibility into your cost and revenue drivers. With the help of SAP Analytics Cloud planning and analysis support, organizations can now facilitate consistent data modeling and align financial and operational plans across the company to drive better business analytics and consequently, business outcomes.
Since SAP Analytics Cloud is built on the SAP S/4 HANA platform, it creates a unified experience for planning, BI, and predictive analysis while being connected to the digital core of your business.
What are the core benefits of SAC to customers?
Go from insight to action faster than ever : With SAP Analytics Cloud features that facilitate data discovery, visualization, and planning with augmented and predictive capabilities, SAC is an AI-powered tool that combines all these varied functionalities into one single SAP cloud platform. Essentially, it is a one-stop-shop solution for all planning, analytics, and visualization needs.
Seamless Collaborative Planning : With the help of SAC, now seamlessly align plans with any number of people and departments and strategize using reliable, data-driven insights. SAC is the only tool in the market that supports such seamless organization-wide planning as collaborative tools and analytics are directly embedded in SAC’s financial planning & analytics process.
Predict future outcomes : SAP Analytics Cloud leverages its embedded artificial intelligence and machine learning technology to provide automated forecasts and data-driven insights that can reliably predict future outcomes. Using SAC’s advanced predictive forecasting, users can review visual indicators of the expected best-case or worst-case forecast. With this functionality, you can see forecasted projections change in near real-time based on underlying source data updates.
Data exploration and visualization : Discover top drivers of performance and integrate them back into the larger organizational plan by analyzing patterns and gaining additional insights into these influencers using SAC. Represent your data-driven insights through powerful visuals and compelling data stories. Now put data in context with rich, interactive charts and tables using predefined templates in SAP Analytics Cloud. Through this solution, you can now fundamentally change the way you visualize the financial impact of key drivers and assumptions behind critical business outcomes.
A Fully integrated tool : SAP Analytics Cloud is well integrated with the rest of SAP modules and tools which makes using SAC even more beneficial. At any given time, the organization’s planning and analysis will be connected to its digital core, leading to a more reliable and unified experience.
Intelligent Real-time Data Analytics : With live connectivity for financial reporting & analysis, get advanced real-time data analytics and scenario modeling without any IT intervention. SAP Analytics Cloud enables organizations to automate sophisticated predictive analytics with ML algorithms that reveal hidden relationships in your data to help you derive actionable insights. Decision makers at all levels can leverage the transformative power of smart, automated SAP analytics to make confident decisions at lightning speed, without relying on IT or data analytics experts every step of the way.
It’s difficult to figure out exactly how to go about implementing SAP Analytics Cloud into your organization. A detailed assessment of your company’s internal process combined with an evaluation of the existing tech landscape and the organization’s aspiration for the future will help define the required solutions.
With over 17 years of experience in the enterprise performance management space, Techwave has developed an iEPM framework to understand where our customers are in their journey to the desired EPM state. By virtue of the expertise built over years, this framework helps us identify and focus on the right areas and provide specialized solutions to varied business challenges.
As a long-standing EPM partner for leading clients across the world, here is Techwave’s value proposition for the implementation of SAP Analytics Cloud:
Fast-track your journey from insights to action with SAP Analytics Cloud
- We have certified SAC consultants with over 17+ years of experience in the EPM space. Our strong techno-functional resources combine their technical prowess and business acumen to drive transformative business outcomes with the help of SAC
- Techwave has a global presence with Offshore, Nearshore, and Onshore execution capabilities
- As a part of our Rapid Deployment Solutions, you can reduce time to realization by up to 30% and go live within just 6-8 weeks
- We leverage our in-house RPA solution called Techwave Autonetic Platform (TAP) for web scraping and reporting in SAC
- Techwave has developed end-to-end SAC Planning, BI, and Analytics offerings with three specialized accelerators that are focused on Driver- Based planning & forecasting, real-time executive dashboards, and operational reporting
- We also provide landscape assessment and recommendations for your SAC journey
- We have a proven track record of successful engagements in addressing crucial business process faps through proven methodologies like our iEPM framework from Planning, Financial Consolidation, and Management & Operational Reporting
- After streamlining the data integration with the source system, Techwave develops custom SAP Analytics Cloud reports for the finance staff. We have successfully migrated and consolidated hundreds of financial reports into a few simple, reliable, and real-time reports in SAC
- For key finance decision makers, our Finance Cockpit serves as a one-stop destination for their planning and consolidation requirements like Integrated Income Statement Planning, Cash Flow Planning & Forecasting, HR Planning & Forecasting, Opex & Capex planning, and Value Driver Tree for Top-Down planning