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Generate More Value From SAP Data With a Real-Time Close

insightsoftware -
August 9, 2023

insightsoftware is a global provider of reporting, analytics, and performance management solutions, empowering organizations to unlock business data and transform the way finance and data teams operate.

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Pushing data from static spreadsheets into SAP can be like squeezing a square peg into a round hole. You need to chase people for the data, then ensure it is accurate, before loading it into the system, only to find it riddled with discrepancies. You’ve approached your IT team for an in-house solution to be built, but they don’t have time and your request is left sitting at the bottom of their priority list.

Unfortunately, this experience is not uncommon. Companies like yours want a new close process, and your team says they need it yesterday. Unfortunately, this experience is not uncommon. In fact, a recent survey of 155 finance executives revealed that 55% of respondents want an automated financial close by 2025. Additionally:

  • 86% said they wanted a faster, real-time close
  • 68% said they want a cheaper close
  • 64% said they want an error-free close

Data management and upload is just one part of the month-end close process, but it’s also the easiest to overcome with automation. Automation can be basic and still deliver the real-time results your team needs. You need the right tool to deliver fast accurate month-end close autonomously.

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Automating Your Month-End Close is an Easy Decision

Working with SAP’s complex interface and migration mires down financial professionals in tedious manual tasks, which can prolong time-critical activities like month-end close. Without the right tool, your finance team is likely spending hours validating data uploads, rekeying general ledger entries and processing large files.

Do you find yourself using manual processes to answer questions like:

  • Does WIP tie to the General Ledger balance in the ERP system?
  • Do monthly cash receipts and net change in receivables tie to the income statement?

If so, how many hours is your team wasting on manual month-end processes? Now, imagine how much business value you could generate with that time back in hand.

  • Increased Efficiency and Time Savings: Instead of spending days or even weeks reconciling accounts and preparing financial reports, finance teams can complete these tasks in a fraction of the time, allowing them to focus on more strategic and value-added activities.
  • Improved Accuracy and Reduced Errors: By automating the close process, the risk of errors is greatly minimized. Automation ensures consistency in calculations, data validation, and reporting, leading to more accurate financial statements and insights. This not only enhances the reliability of financial information but also helps in meeting regulatory compliance requirements.
  • Enhanced Data Visibility and Insights: Real-time visibility across all relevant data sources allows your finance team to monitor financial performance more effectively, identify trends, and gain valuable insights into the company’s financial health. With readily available data, finance teams can make informed decisions faster and support strategic planning for the future.

Having an automation tool that works within Microsoft Excel — the finance team’s tool of choice — will empower your accounting and finance team, simplifying and automating large data uploads that plague your month-end close.

This is where Process Runner GLSU and Wands for SAP can remove the roadblocks your team wants to avoid.

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Satisfying Your Team’s Need for Speed

Reconciling accounts across multiple systems typically requires a manual comparison of balances from different systems, but Process Runner GLSU and Wands for SAP from insightsoftware solve that need.

Your team needs automated financial data entry that turns Microsoft Excel into your month-end close cockpit for SAP. They need powerful data validations, and flexible workflow features that make working in any business process faster and easier. An integrated view of disparate systems can support this “management by exception” approach, substantially increasing efficiency and accuracy.

Process Runner GLSU and Wands for SAP provide flexible, intuitive interfaces for SAP data entry and transaction posting directly from Microsoft Excel.

  • Automate financial document posting processes resulting in a shorter month-end close.
  • Pre-validate data prior to posting to SAP, returning any errors in a single report for easy reconciliation.
  • Increase data accuracy and improve audit processing while running a stress-free finance operation.

Process Runner GLSU

Built by finance professionals for finance professionals, Process Runner GLSU Process Runner GLSU streamlines data management operations like month-end close. With it, your team can automate more than 40 SAP FI transactions with support for large journal entries (>1,000 lines), payroll, purchase orders, P-Card, invoices, multiple currencies, and cross-company entries.

  • Productivity boost — Create a new template in 60 seconds. and the . Gain the ability to post more than 999 line items.
  • Enterprise-wide impact — Reduce support and ongoing development costs.
  • Easy to use — Use standard Excel functionality to calculate and validate values and validate them in just one click.
  • Time-to-value acceleration — Quick installation. Speed time to market with faster data migration, easier data transformation.

Wands for SAP

Wands for SAP empowers your finance team to leverage their existing Excel skills to streamline data entry to drive efficiencies in your month-end process. Organize month-end close reports and ad-hoc analysis in just a few clicks.

  • Access to real-time data — Gain the ability to support month-end closing needs and cost control.
  • Accurate, up-to-date reports — Create consolidated reports across multiple cost and profit centers.
  • Refreshable period-on-period analysis reports — Have these reports in your hands in seconds without relying on stale data exports.
  • Flexible and customizable reports — Format income statements, balance sheets, and other reports exactly how you want.
  • Productivity boost — Create a new template in 60 seconds and the ability to post more than 999 line items.
  • Easy to use — Use standard Excel functionality to calculate values and validate them in just one click.
  • Time-to-value acceleration — Quick installation. Increase speed to market with faster data migration, easier data transformation.

Visit our website to see if Process Runner GLSU or Wands for SAP is right for your team. You can also watch our on-demand webinar, How to Set Your Finance Team’s Technology Roadmap, for more information.

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