SAP as we all know has always been an active contributor in the field of technology and has time inception strived to deliver an application specifically meant for each and every field. Last year was not new when SAP came up with an application specially meant for Finance, which is more commonly referred to as SAP Simple Finance.
SAP Simple Finance as a software provides a private cloud offering and gives coverage to the entire finance value map. Things suddenly took a very dramatic turn more so in the field of planning and forecasting which also brought about an interesting twist by bringing SAP Business Planning and Consolidation, which was powered by SAP HANA which was quite deeply integrated directly with SAP ERP.
As it is evident from the name itself the software the SAP Simple Finance Add-On is known to be an ABAP add-on, which is specifically meant to be deployed on top of SAP Business Suite powered by SAP HANA (SAP ERP 6.0 EhP7 on HANA).
This new thought process and innovativeness truly gives a new meaning to the SAP ERP Financials solution - and also aims at modernizing the same by consciously leveraging the inbuilt and native capabilities of the SAP HANA platform, which has all be coupled and put together with the same with next-generation architecture and provides a new and a richer reinvented user experience.
The software has been put together with other components such as SAP HANA Live and SAP Fiori. It aims to provide some other solutions like for SAP Accounting again powered by SAP HANA, SAP Cash Management also powered by SAP HANA, and Integrated Business Planning related for finance.
Integrated Business Planning as the name suggests also utilizes SAP Business Planning and Consolidation. The way it has been framed the SAP Simple Finance Add-On can be conveniently deployed on premise or it can also be deployed in the cloud as an add-on to the SAP Business Suite which is also powered by SAP HANA.
Integrated Business Planning for finance can easily leverage the complex financial planning capabilities which are known to be provided by SAP Business Planning and Consolidation, version for SAP NetWeaver very efficiently and seamlessly and later can be integrated in SAP ERP user interfaces and workflows. This very soundly and in an effective manner replaces the present planning capabilities in SAP ERP. In the present times the planning in ERP is done by virtue of SAP GUI and the restrictions can now be overcome very easily. It would become easier for data to be replicated between solutions which would not be required henceforth.
The various plans which are developed in the SAP Business Planning and Consolidation can also be accessed in SAP ERP for performing the different types of variance analysis and SAP Business Planning and Consolidation will also be able to monitor the real time master data along with the actuals which are also preserved and kept in SAP ERP.
The various capabilities of Integrated Business planning for finance will be combined and these also provide different and new end-to-end simulation capabilities.
Once the software for the Simple Finance Add-On for SAP Business Suite powered by SAP HANA has been successfully installed, it would also entail the "content" which is required facilitating the Integrated Business Planning for finance. This content would include the following:
- Cost Center Planning
- Internal Order Planning
- Project Planning
- Profit Center Planning
- Cost of Sales Planning
- P&L Planning
- Market Segment Planning
- Liquidity Planning
Each and every time the SAP Netweaver ABAP is installed it also includes the SAP Business Warehouse. The Business Warehouse for SAP Simple Finance would include the SAP Business Planning and Consolidation, version for SAP NetWeaver, which has been powered by SAP HANA and is also referred to as the "embedded" model type.
Aren't we are curious to know about the working of the Integrated Business Planning for finance work in a real time environment? The software is quite effective and enables the customers to perform the following functions:
- The customer can successfully be able to leverage the different databases typically related to the document database for the financials document and the HANA views which are meant for a real time access to actual transactional data and ERP master data.
- With the help of the Integrated Business Planning for finance model the end user can efficiently read the actuals "Real Time" as transactions update the FI & CO document tables within the ERP.
- The Actual data is aggregated on the fly which keeps in mind the SAP HANA views
- The software enables the end user to be able to very quickly analyze financial data and go through the different model results.
What is the need for using the Integrated Business Planning for finance, versus a standalone SAP Business Planning and Consolidation, version for SAP NetWeaver?
The software Integrated Business planning for finance allows the following functions to be performed.
- The software has been embedded within the SAP Business Suite on SAP HANA where one can also see how the SAP Simple Finance Add-on for Suite on HANA is being utilized along with its functionality.
- A very important benefit which comes along with the software is the ability to provide a noteworthy functional content which includes the templates and calculations which span over multiple planning scenarios
- With the help of the software the companies are allowed to use the traditional financial planning within ERP (Enterprise Resource Planning) which also helps them to implement and safeguard their existing investment.
- A very major benefit of using the software is reduction of cost and time taken to be implemented.
- The software enables the end users to takes advantage of the HANA views which provide a direct real time access to ERP Master Data along with providing access to the FI-CO document tables.
- This is considered to be very optimal for organizations which have a very important portion of the data on the basis of which they perform planning within the SAP ERP on HANA system. The end users are also helped in terms of planning against the "traditional" FI and CO data structures and provides for truly integrated planning across finance.
- This application is specifically meant for the customers who have deployed SAP ERP on SAP HANA with the SAP Simple Finance Add-on for Suite on HANA.
The new software will certainly be quite helpful in bringing about much innovations and possibilities SAP ERP and SAP Business Planning and Consolidation, which have all been powered by SAP HANA coupled together!