SAP's Analytics Cloud (SAC) is a go-to tool for organizations that want to analyze, visualize and predict data, together, intuitively and in the cloud. It is also a key part of Finext's toolkit to provide the CFO's office with next-generation financial solutions. SAP Analytics Cloud is a versatile and cost-effective tool that enables real-time data aggregation and analysis to provide comprehensive business data insights. But its data visualization and planning features also provide much more flexible solutions that you can use for financial data insights. We spoke with Laura Fernandez, performance management consultant at Finext, about Analytics Cloud and her role in developing a new tax provisioning model within Analytics Cloud.
Laura is part of the SAP team at Finext and implements Sap Analytics Cloud solutions that allow organizations to use Sap Analytics Cloud for planning. "
When we handle an implementation for a client, we take your business requirements and use our financial knowledge and best practices to build a model. The model can be integrated with your SAP systems. Integration is not a must, but it has great benefits. It is much easier to maintain and contributes to quality."
Integration is not a must, but it has great advantages. It is much easier to maintain and contributes to quality."
Taking the time to get the requirements clear is a crucial and sometimes frustrating part of the process. Everyone is eager to get started and hand over something tangible. But sometimes new requirements are added to the mix that affect previous decisions. Still, it is very important to take the time for this process and embrace setbacks because this is where the foundation is laid.
"The definition of the model is the most crucial part of the implementation. It defines your ultimate reporting capabilities. Your level of insight."
However, these models are only part of the planning process in SAP Analytics Cloud. Having a data model is a good first step, but you can't use it to visualize data or calculate and facilitate processes.
"SAC uses data actions, a user-activated process that manipulates data. It can be used for numerous options, such as pre-filling user inputs, performing complex cost allocations or calculating revenue streams. These data actions are available to users through "Stories," Sap Analytics Cloud's dashboards. Normally, a story follows the chronological order of the planning process. For example, it first allows users to validate and change product sales prices and sales volumes. Then it displays the result in, for example, "per product" and the cumulative impact on your P&L."
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"SAP Analytics Cloud offers many features for our customers, such as visualization, augmented analytics and scheduling," finds Laura "It usually has a very rich feature set.
Overall, it simplifies financial planning with rules and automation and facilitates alignment across departments." There are other reasons to use SAP Analytics Cloud. For example, system security settings and reporting capabilities.
"SAP Analytics Cloud is best suited for organizations using other SAP databases, but also offers numerous integration options with other databases.
"SAP Analytics Cloud is best suited for organizations using other SAP databases, but also offers numerous integration options with other databases. Once the data is in, there are numerous security and access options, increasing data security, accuracy and reliability. Especially when you compare it to Excel."
"Users can only see and modify data and perform processes for which they have access. Authorizations are flexible and in most cases role-, team- or department-dependent. With role authorizations, the system even makes it possible to close off the system to most users and leave it open to their superiors so they can modify and log out."
"SAP Analytics Cloud also enables reporting according to the IBCS (International Business Communication Standards) for this reason. Especially in larger organizations, it is crucial to develop all reports with a similar look and feel. Tables and charts can therefore be interpreted in an instant." "With the dynamic reporting capabilities, Sap Analytics Cloud allows you to place filters on all your charts by simply selecting a value in one of the tables. After the selection, all corresponding elements on the page filter are updated accordingly, giving the user quick and detailed insight into their interests."
SAP Analytics Cloud is just one tool for business intelligence and planning. However, it is not always the right solution. At Finext, we work with a range of tools such as Oracle, Vena, Anaplan and Board to ensure our clients find the best solution for their technology and needs. If you would like to learn more about SAC, our load templates or performance management technology in your organization, please contact us. Finext will be happy to assist you.
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