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SAPInsider Report: Visibility is a Top Challenge for Cash Management

insightsoftware -
August 16, 2022

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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The last few years have seen major changes in nearly every aspect of business as we know it. Executives across industries have been confronted with the need to vastly adapt the way they do business. In many cases, shifts in customer behavior and overall economic conditions were so drastic that even the most well-prepared organizations were left scrambling. What has been made clear is that in times of uncertainty, organizations require effective cash management and cash visibility to help enable corporate strategies.

Understanding the increasing complexity in cash forecasting is now paramount for business adaptability. insightsoftware partnered with SAPinsider on their Benchmark Report: Cash Management and Cash Visibility, to better understand the state of cash management and cash visibility for SAP customers in the current operating environment. The report surveyed 109 members of the SAP community. This in-depth research examines changes in SAP users’ approaches to cash flow visibility, plus benchmark strategies and results across the market.

Key Discoveries

Lack of Visibility

Among the key discoveries, the SAPisider report found 43% of respondents are not satisfied with their level of cash visibility from current cash management process. Without efficient end-to-end cash management processes in this uncertain operating environment, many executives not only lack a clear understanding of their current cash position, but also are increasingly limited in their ability to forecast accurately for their organizations.

In order to gain more insight, financial reporting software like Wands from insightsoftware can help finance teams create their own refreshable and drillable reports with flexible layouts against SAP Business Suite (ECC) and S/4HANA. Wands for SAP helps with visibility issues, providing:

  • Quick access to refreshable, drillable financial reports.
  • Pre-built templates and a wizard to quickly build reports.
  • Reports include: cashflow, cash receipt analysis, profitability analysis, balance sheet, cost center analysis, income statement.

Success With Automation

Another discovery in the SAPinsider report points to ongoing distinct waves of technology adoption. There is a focus on improving automation across cash management processes such as AP invoice automation (currently being used by 34% of respondents), purchase order automation solution (33%), and billings and revenue management (30%).

Finance teams are looking for more ways to reduce manual processes and speed up routine tasks like month-end close. Process Runner GLSU (previously known as Z Option GLSU by Magnitude) can automate more than 40 FI transactions in Excel, including many around invoices. By automating with software like GLSU, finance teams can get a better handle on their cash management.

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Transition to SAP S/4HANA

The SAPinsider report also found that half of respondents currently utilize SAP ECC 6.0 or earlier as the primary finance and accounting system, while 31% of the audience has already migrated to SAP S/4HANA.

Wands for SAP, which supports ECC and S/4HANA, provides a consistent reporting experience before, during or after migration, so your finance team can focus on what need to get done. You can access pre-built reports or easily create your own, without relying on IT.

Access your copy of the full SAP Insider benchmark report.

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