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Advanced Analytics Provide the Keys to Compliance, Optimization and Transformation

Posted by David Fellers on Wed, Jun 20, 2018 @ 01:40 PM

If you think of today’s businesses as being like complex organisms, then it becomes easier to understand the critical role of advanced analytics in monitoring organizational health and supporting growth. Just as your body’s nervous system, immune responses and circulatory network provide continuous sensory feedback to identify problems and maintain healthy functioning, your company’s analytics processes are critical for organizational adaptation and survival.

In a very important way, adaptive analytics processes help companies cope with constantly changing external forces, such as new regulatory compliance requirements, market dynamics and competitive pressures.  Analytics are also critical for monitoring internal functions and change programs to provide context, transparency and agility for identifying issues and responding to potential problems before they become emergencies.

For example, major regulatory changes including Revenue Recognition (ASC 606 and IFRS 15), Lease Accounting (ASC 842 and IFRS 16), the European General Data Protection Regulation (GDPR), and others are all impacting compliance requirements for companies throughout the world.  Analytics are the key for successfully unifying internal processes and data to meet these external demands.

With so much external change going on, it’s vital that your organizational sensory and response systems be agile, transparent and comprehensive. To succeed, you need to simultaneously see the big picture and have the flexibility to drill down for detail across a widening range of compliance requirements.

At Bramasol, while working with a broad spectrum of companies across many industries on their compliance and financial transformation initiatives, it has become clear that “analytics” needs to be treated as a core strategy for overall success – with a comprehensive and highly adaptive approach.

Our go-to analytics technology stack spans the creation of purpose-built tailored solutions for issues such as Leasing and RevRec compliance, combined with user-friendly overall dashboards, such as the SAP tile-based analytics launch pad below.

TiledDashboard

Companies need end-to-end integrated solutions for compliance that fit seamlessly within existing operational and financial systems while providing the detailed information, audit trail, aggregation methodologies and advanced analytics to support disclosure reporting.  In addition, company management needs assurance that these end-to-end solutions are capable of being adapted and updated as compliance and disclosure requirements are fine-tuned or to meet special situations.

While there is no easy one-size-fits-all solution for all companies, it is useful to leverage core analytics technologies that can readily adapt to unique requirements while also meshing with existing legacy systems and laying the foundation for forward-looking business strategies.

For example, we’ve standardized on the SAP Digital Core, SAP Cloud Analytics and S/4HANA because these technologies provide flexiblity, scalability and performance for agnostically integrating and anlyzing data from virtually any existing systems and/or legacy data repositories. 

In addition, we’ve gone the extra step of creating purpose-built analytics and disclosure solutions for Rapid Leasing Compliance and Rapid RevRecReady Compliance.  By leveraging these targeted products, companies that just need quick and easy-to-deploy solutions can get up an running fast for basic compliance while also creating a solid foundation for adapting their analytics to meet future needs.

Comprehensive analytics are a key element in any company’s journey of Compliance, Optimization and Financial Transformation.  Beginning with advisory services and analytics integration, with pre-defined disclosure reports and purpose-built out-of-the-box solutions, these core analytics tools enable companies to comply quickly and then optimize their operational processes for driving transformational change.

Comply-Optimize-Transform

 

Only by creating a multi-faceted sensory and analysis strategy that holistically unifies the entire organization can today’s companies hope to stay healthy and compete in today’s global environment.

Learn more by visiting Bramasol’s Financial Transformation solutions.

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Topics: analytics, financial transformation

Join Bramasol at SAP Aerospace & Defense Innovation Days

Posted by Bramasol on Fri, Mar 30, 2018 @ 07:54 AM

Plan to join Bramasol at SAP Aerospace and Defense Innovation Days, April 9-11, 2018 in Boston, MA where you can learn the latest about our technology innovations and solutions for challenges facing the Office of the CFO.

We are helping to lead the discussion with over 200 A&D industry peers to drive innovation and identify growth opportunities. You will discover how to make sense of technology, and learn from a complete program of showcases, presentations, and customer sessions, along with invaluable networking opportunities with SAP executives and experts, customers, and partners. 

As leaders in compliance solutions, Bramasol will be showing the latest updates on RevRec (ASC 606 and IFRS 15) and Lease Accounting (ASC 842 and IFRS 16), as well as purpose-built packages and adaptable technologies for optimizing compliance within overall Financial Transformation solutions.

We will be demonstrating the newest releases of SAP Revenue Accounting and Reporting (RAR) and SAP Lease Administration by Nakisa.  In addition, you can see our purpose-built, turnkey packaged offering, RevRec Ready Rapid Compliance Solution for disclosure reporting.

Looking forward to seeing you in Boston and discussing  your specific Compliance, Optimization and Financial Transformation needs.

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Topics: SAP Revenue Accounting and Reporting, financial transformation, SAPLeaseAdmin

New eBook: SAP Cloud for Planning

Posted by Bramasol Financial Transformation Team on Fri, Mar 16, 2018 @ 07:43 AM

As part of Bramasol’s ongoing series on Financial Innovation, this eBook provides an in-depth look at how the SAP Cloud Analytics platform can be leveraged to provide flexible, integrated Cloud Planning processes across a wide range of enterprise functional areas.

Most conventional finance management technologies have developed to serve specific “stovepipe” functions and therefore lack native capabilities for cross-integration between applications.

Some of the chronic problems that arise from these limitations include:

  • Inefficient separation of analytical capabilities and transaction data
  • Inability to accurately aggregate disparate data for decision-making
  • Lack of support to business transformation initiatives
  • Dependence on IT staff for creating specialized and ad hoc reports
  • Loss of productivity due to users juggling multiple systems and data sources

Because of these issues, most companies are forced to spend an inordinate amount of time coping with mundane but necessary challenges such as “keeping the lights on” and juggling data sources just to keep their head above water. Industry surveys indicate that 70 to 80 percent of time is typically spent on such problems.  A key goal of Financial Transformation is to shift the balance in favor of spending less time on these non-productive activities and more time on driving business innovation.

In contrast, the approach to Digital Transformation for Finance developed by Bramasol in conjunction with SAP overcomes these limitations by bringing together Cloud functionality, Data from a variety of sources, Mobile access capabilities, and seamless connectivity to connect People throughout the enterprise and beyond.

As shown below, SAP Cloud Analytics is built around the core functionality previously known as SAP BusinessObjects (BOC), which brings together data, processes and collaborative communication capabilities within a single unified, interactive and adaptable environment.

eBook SAP Cloud for Planning.jpg

As described in this eBook, the SAP Cloud Analytics architecture and SAP Cloud Planning tool provide a highly flexible environment for extracting a range of different data sets from operational systems, aggregating them for analysis and then modeling a variety of scenarios to inform planning decisions.  The tools are designed to optimize communication between key roles and to enable integration of Business Intelligence, Predictive Analytics and Planning processes.

These capabilities provide a vital set of tools for CFOs, planning staff and corporate decision-makers to help overcome the limitations of legacy approaches and to enable Financial Transformation to improve operational processes, productivity, and overall business results in the near term and the future.

Click here to download the eBook on SAP Cloud for Planning

 

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Topics: Bramasol, financial transformation, Financial Innovation, S4HANA

Webinar Oct 26: Cloud for Planning and Financial Transformation

Posted by Bramasol Financial Transformation Team on Tue, Oct 17, 2017 @ 07:34 AM

Are you perfectly satisfied with your financial planning and quarterly/annual closing processes?  If so, please stop reading now.

 

However, if you'd like to learn more about how Cloud for Planning and Financial Transformation solutions can help you get ahead of the curve in 2018 and take better control of your company's fiscal well being, then you should tune in for the next webinar in Bramasol's series for CFOs.

Cloud for Planning: 
Enhancing Scalability and Flexibility with Financial Transformation
October 26, 2017at 10 AM PDT - 1 PM EDT

In this webinar, we will show how CFOs can leverage significant new technology trends and solutions, such as S/4HANA Cloud, Analytics and Best-of-Breed applications to unify financial and operational systems into a single-source-of-truth for business planning.

Click Here to Register for this Webinar

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Topics: financial transformation, S/4 HANA Cloud

Hot-Tip: Cloud Analytics and S/4HANA are Driving Financial Transformation

Posted by Bramasol Financial Transformation Team on Fri, Oct 13, 2017 @ 07:16 AM

FinancialTransformation-HotTip.jpgFinancial Transformation is happening now, driven by new cloud-based technologies that bring together analytics, transactional data and best-of-breed applications within a unified Digital Core.

Most conventional finance management technologies have been in existence for decades and, while they may offer a familiar environment, the lack of unified solutions create significant limitations when it comes to keeping pace with today’s complex and dynamically changing corporate challenges.

Some of the chronic problems that arise from these limitations include:

  • Inefficient separation of analytical capabilities and transaction data
  • Inability to accurately aggregate disparate data for decision-making
  • Lack of support to business transformation initiatives
  • Dependence on IT staff for creating specialized and ad hoc reports
  • Loss of productivity due to users juggling multiple systems and data sources

Because of these issues, most companies are forced to spend an inordinate amount of time coping with mundane but necessary challenges such as “keeping the lights on” and juggling data sources just to keep their head above water. Industry surveys indicate that 72 percent of time is spent on such problems.

Companies that have proactively begun Financial Transformation programs are already experiencing important benefits including:

  • Ability to adopt Best Practices 
  • Real-time and predictive analytics
  • Faster closing processes
  • Improved support for compliance requirements
  • Enhanced productivity through “native” workflow integration

The newest eBook from Bramasol shows how the SAP Digital Core overcomes the challenges of outdated legacy systems by combining transactional data, cloud-based analytics capabilities and integrated best-of-breed applications within a seamless ecosystem that optimizes productivity, ease-of-use and extensibility.

This eBook also includes a step-by-step use-case example showing the seamless interaction of SAP Cloud Analytics and SAP S/4HANA Cloud ERP operational functionality. This example simulates an Oil & Gas industry situation with a revenue discrepancy and illustrates the flow between analytics and operational processes.

Click Here to Download eBook: "Leveraging Cloud-based Analytics, User-Definable Dashboards and S/4HANA Cloud for Financial Transformation".

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Topics: analytics, financial transformation, FinancialTransformation-Hot-Tips

New eBook: Advanced Analytics, Dashboards and S/4HANA Cloud for Financial Transformation

Posted by Bramasol Financial Transformation Team on Sat, Sep 30, 2017 @ 07:11 AM

Integrating Key Functions Drives Insight-to-Action

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As part of our ongoing series on Financial Transformation, this eBook provides an in-depth look at how advanced cloud-based applications and the Digital Core can be leveraged to conduct real-time and predictive analytics that drive more accurate results and higher productivity.

"Leveraging Cloud-based Analytics, User-Definable Dashboards and S/4HANA Cloud for Financial Transformation"

In addition to an overview of Financial Transformation goals, opportunities and enabling technologies, this eBook also provides a step-by-step use-case example of how SAP Analytics and S/4HANA Cloud can be integrated to quickly identify and resolve operational issues.

Click Here to Download the ebook

 

For more on this important topic, view our recent Financial Transformation Webinars

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Topics: financial transformation

Webinar Video on SAP Lease Administration by Nakisa

Posted by Bramasol Leasing Administration Team on Fri, Sep 8, 2017 @ 08:19 AM

The video of the latest issue in our highly successful webinar series for finance professionals is now available for viewing online.

Recorded August 29, 2017, this webinar focused on "What's New with Lease Administration by Nakisa"

Nakisa has announced the release of version 4.0 of Lease Administration by Nakisa, which is a SAP Solution Extension, co-developed with SAP and also sold by SAP as SAP Lease Administration by Nakisa and is the only equipment leasing solution sold and supported by SAP for lease accounting standards.

The new features in 4.0 add powerful accounting functionality essential for enabling compliance, including lease determination support and lease event management. Lease Administration by Nakisa’s expanded capabilities will also allow companies to leverage data in non-SAP systems.

This new version 4.0 can now make use of parallel accounting in SAP, with enhanced central governance and segregation of duties allowing for greater security and control over the process.

“We have hit a critical point on our path towards compliance where any business not making concrete actions and steps is at considerable risk. With version 4.0, customers can accelerate their go-lives, minimize effort and reduce risk by leveraging native connectivity with SAP ERP Financials.” said Romeo De Leon, Global Manager of Finance Line of Business at Nakisa.

This video provides an update on new functionality in Lease Administration by Nakisa and details what companies need to be doing now in order to be ready for compliance with the new standards.

Click here to access this and other videos from the Bramasol webinar series.

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Topics: financial transformation, S/4 HANA Cloud

Webinar Video on Financial Transformation with S/4HANA and Cloud Analytics

Posted by Bramasol Financial Transformation Team on Fri, Aug 25, 2017 @ 09:16 AM

The video of the latest issue in our highly successful webinar series for finance professionals is now available for viewing online.

Recorded on August 22, 2017, this webinar focused on Financial Transformation with S/4HANA Cloud ERP & Cloud Analytics

In the video, we present an overview of how S/4HANA Cloud ERP and Analytics provide the building blocks for fueling Financial Transformation. In addition to discussing the S/4HANA enabled Digital Core, we also drill-down with specific examples of how SAP Cloud Analytics can identify and help resolve operational issues in S/4HANA Cloud.

Click here to access this and other videos from the Bramasol webinar series.

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Topics: financial transformation, S/4 HANA Cloud

New eBook: CFO's Guide to Financial Transformation

Posted by Bramasol Financial Transformation Team on Wed, May 31, 2017 @ 02:15 PM

Bramasol-eBook---CFOs-Guide-to-Financial-Transformation_thumbnail.jpgCorporate finance professionals face many challenges. They need to reduce the amount of time spent on inefficient month-end/year-end closing processes, improve their ability to extract timely and accurate financial information and streamline overall operational end-to-end business processes.

On the regulatory front, CFOs also must deal with, Revenue Recognition Changes (ASC 606 and IFRS 15), Lease Accounting Changes (ASC 842 & IFRS 16), Financial Instruments Impairments & Disclosures (IFRS 9) as well as on-going changes in the global regulatory environment.

The accelerating set of new challenges and changing compliance requirements threatens to overwhelm the inherent limitations of existing legacy finance and ERP systems.

As companies undertake Financial Transformation to improve their ability to be nimble, react quickly and take advantage of market trends, several key things are emerging: 

  • Drive to continuous close
  • Consolidation of data source for reporting
  • Improved visibility for compliance with new standards for Revenue Recognition, Leasing and Financial Impairments
  • Real-time cash management

Some of the key Financial Transformation opportunity areas include:

  • New-generation architectures, such as SAP S/4HANA, that combine core ERP & Finance systems with plug-in modular best-of-breed capabilities for revenue recognition, leasing, ecommerce, HR, travel, supply chain management, and more.
  • A “single version of the truth” approach that avoids discussions of who’s data is right, thereby enabling much faster and better tactical decision-making.
  • Cloud-based implementation options that can greatly reduce time-to-operation and which integrate seamlessly with in-house implementations to enable cost optimization along with flexibility and scalability to support growth.
  • Advanced real time analytics and user interface (UX) technologies that can access information throughout the unified systems and provide easily tailored comprehensive reporting for ongoing management or ad hoc decisions. 

This new eBook, "The CFO's Guide to Financial Transformation" offers a deep dive into these challenges and opportunities along with a detailed discussion of the key actions that CFOs can take to effectively plan and implement company-wide financial transformation.

Fill out the form below to read the ebook now.

 

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Topics: financial transformation

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