Converting FICO Challenges into Business Value
At the core of every SAP working environment lives Finance and Controlling (FICO). Often Finance is a key driver of the business case to implement SAP, with the hopes of creating a seamless reporting environment that leads to process improvements, efficiency, visibility, and ultimately business value for the organization. However, many SAP customers miss the opportunity to recognize the full potential business value of their implementation. Many reasons happen; regardless of the causes, it leads to frustration and under-utilization of this expensive asset. We leave so much opportunity on the table. How do you work from where you are now to reach those goals?
Impact of Manual Processes & Data Integrity
As we drift further from our original aspirations, the erosion of efficiency and understanding leads to manual processes. Poor data integrity ensues and results in:
- late payments to suppliers and missed opportunities for price breaks and discounts,
- overdue customer payments, and
- offline reporting.
These disconnects prevent SAP from being the single source of truth. We miss opportunities for automation, resulting in:
- inefficient processes,
- manual entries,
- long close cycles, an
- a lack of trust in the data SAP provides.
The lack of understanding of SAP’s full set of capabilities often results in the proliferation of 3rd party tools and “shadow IT” to plug perceived gaps, especially when it comes to reporting and dealing with different accounting standards. This fragmenting of data means we can’t easily understand our operational and overhead costs, track variances, or get a detailed picture of profitability.
Streamlining Processes & Financial Performance
Working with Reveal can help break the cycle of data chaos. Our data-driven assessment will identify process and functionality gaps in your organization and create a roadmap for achieving real value. We'll educate and empower your team to leverage SAP's capabilities to clean up data, align master data with business rules, manage exceptions, and implement continuous improvement. By building a foundation of data integrity, we'll introduce process automation and additional functionality. While the roadmap may vary, our focus is on improving process efficiency, product costing, overhead management, profitability analysis, cash flow, and external reporting automation. If you haven't yet migrated to S/4HANA, our work will prepare your team and data for a smoother transition and faster value realization. Don't overlook optimization in your rush to S/4. Especially in Finance, optimizing processes on S/4 can deliver significant value.
Shorter, less painful close cycles, accurate and reliable product costs and variances, reduced operational costs, timely and trustworthy profitability reporting, streamlined and automated external reporting, and educated, empowered, and happier people are all outcomes of a FICO transformation program with Reveal. Let us partner with you to demonstrate the value that can be unlocked from your SAP solution and finally deliver the return on investment you were hoping for from the start.
