KMD implements SAP Group Reporting and Analytics Cloud to gain speed and transparency in Finance
In six months KMD implemented SAP Group Reporting and SAP Analytics Cloud. The new tools are embedded in SAP S/4HANA and provide statutory as well as managerial financial consolidation capabilities on group level.
As the first company in Northern Europe KMD has gone live with SAP Group Reporting and SAP Analytics Cloud (SAC). The two modules are fully embedded in the SAP S/4HANA platform supporting a strategic business move towards a continuous financial closing process on group level. In just six months KMD has implemented the new solutions end-to-end.
Improved financial consolidation
KMD decided to implement SAP Group Reporting and SAC for different reasons. In connection with NEC Corporation’s acquisition of KMD the company needed to change financial year from January-December to April-March. Furthermore, the implementation process gave KMD an opportunity to clarify the data quality demands required in SAP Group Reporting related to an upcoming implementation of SAP S/4HANA Financial Accounting. And finally, KMD wanted to improve their financial consolidation with greater transparency and auditability – all the way from entity reporting to group-level steering for actuals as well as plan data.
- We have used SAP BPC in the past, and it’s clear that SAP Group Reporting optimizes and speeds up our closing process in different ways. We can reduce the risk of errors from manual procedures, we can support a decentralized consolidation process in our entities. And we have access to all local close data in real time and can make adjustments that are immediately reflected in group reporting, says Rolf Ahm Jensen in KMD.
- Furthermore, from a usability standpoint Group Reporting is a more user-friendly solution than SAP BPC. It’s easier to identify deviations and do intercompany reconciliation, and it has better and more detailed reporting features. Combined with SAC we can quickly build and manage all reports to management, authorities and other stakeholders ensuring full data lineage and auditability.
Overview SAP S/4HANA for Group Reporting
Rich functionality and features
SAP Group Reporting and SAC offers a variety of functionality and features designed to improve data analysis and support faster decision-making. For instance, the Group Reporting tool automates key processes such as currency translation, consolidation calculations and cash flow reporting to free up accounting and finance teams for more value-added activities.
Based on their hands-on experience from implementing the two new tools in their own organisation KMD is now bringing SAP Group Reporting and SAC to the market. As an add-on to KMD’s SAP Group Reporting offering they have developed a tool for importing data from entities who are not using SAP as their financial solution. That means that it’s possible to receive data in an Excel spreadsheet and handle all data across entities in the same structured manner.
SAP Group Reporting and SAC are public cloud solutions. Every three months SAP releases new functionality to continuously improve the standardized version of the software.
Based on the successful implementation and his deep insights into the solution Principal Solutions Architect, Christian Andersen, from KMD has been invited to join SAP’s S/4HANA Finance for Group Reporting User Council.
Main benefits from using SAP Group Reporting
- Combine financial and management accounting data and transactional detail into a single source of truth
- Unify entity and group close to eliminate the need for reconciliation between ERP and consolidation systems and to reduce the risk of errors
- Analyse financial data on the fly at any level of granularity
- Close the books quickly with confidence in the accuracy and completeness of results and produce full audit trail
- Receive automatic, quarterly software updates to always have access to the latest innovations in areas such as machine learning and predictive analytics
If you want to know more about the SAP Group Reporting and SAC offerings from KMD, please contact:
Principal Solutions Architect
Jonas Voersaa Rasmussen
Senior Client Director