Mar 01, 2010
Download The convergence of stricter financial regulations and a challenging global economic environment is forcing large companies to do more with fewer resources as they seek to accurately report their financials. To ease the burden on existing employees and ensure more accurate and controlled reporting, leading companies are adopting automated solutions to document, execute, monitor, and report on the financial close. Those companies that leverage Financial Close solutions reduce their financial reporting costs while increasing confidence among their investors, customers, employees and business partners. Today, the most used Financial Close solutions focus on extracting and reporting on the data that reside within SAP ERP systems. By providing finance departments with the ability to harmonize their views across multiple SAP ERP instances, Financial Close solutions help to ensure accurate and complete views of financial metrics and performance. At the same time, these solutions proactively enforce Financial Close workflow processes to help employees adhere to best practices. This type of consolidated solution, in conjunction with SAP ERP, leads to a streamlined and high-quality financial close. This paper describes the business and technology drivers behind Financial Close solutions for SAP ERP.