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Executive Round-table on Financial Transformation in Boston on Nov. 8

Mon, Oct 22, 2018 @ 10:22 PM / by Bramasol Financial Transformation Team posted in financial transformation

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FinancialTransformation-HotTipHere's a great opportunity to join a select group of Financial Executives and Leaders for an information-filled day on November 8, 2018 at the SAP Offices in Burlington, MA, where Bramasol, SAP and special guest from Monotype will discuss key challenges and solutions for Finance, Analytics and Compliance.

Bramasol-SAP-Monotype

This is a unique opportunity for Executives from companies in the New England area to hear the latest on key finance, analytics and compliance issues, along with a great chance to network with your peers. Experts from SAP and Bramasol will provide insights on strategies for both near-term compliance and long-term financial transformation.

The agenda for this complementary one-day event includes:

  • Overview of issues facing finance executives
  • Using analytics to drive Insight to Action for Compliance and Financial Transformation
  • Demonstration of SAP Cloud Analytics for compliance and reporting
  • Understanding key SAP S/4HANA innovations, adoption scenarios and tools
  • Case study by Monotype detailing their journey to compliance success

This is definitely an event that you don't want to miss!

Register to Attend  Executive Round-table November 8 in Boston

ExecutiveRoundtable 

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eBook - S/4HANA is the Future: Understanding Why and How to Get There

Fri, Oct 12, 2018 @ 07:46 AM / by Bramasol Financial Transformation Team posted in S/4HANA, CFO, financial transformation, Financial Innovation

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This eBook provides a brief overview how S/4HANA represents the future for companies currently using SAP platforms, as well as many other companies looking for a sustainable path to finance innovation.  It also lays out some of the key considerations in developing a roadmap to implement and get the best results from S/4HANA.

S4HANA is the FutureThe focus of this piece is to provide a roadmap for planning and carrying out implementation of SAP S/4HANA and Digital Core environment, with an emphasis on the Why, How, and Key Steps for Success.

If you ever had a question, Why Financial Transformation? This is the must read eBook meant for you, As most conventional finance management technologies have been in existence for decades and, while they 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. 

This eBook addresses nearly all of your S/4HANA related questions starting from what really is S/4HANA, Key benefits of the S/4HANA architecture vs. Legacy Systems, How it can transform the Enterprise Finance Landscape and a roadmap for S/4HANA success.

Here is the quick  Index of the this value eBook;S4HANA eBook Content-1

Instead of always grappling with reassembling disparate pieces of the picture this enables CFOs and staff throughout the company to see a holistic real-time view that encompasses all operational data sets and analysis capabilities within a single unified architecture.

In addition to improving both the access to and the ability to manipulate information, S/4HANA also dramatically improves real-time analytics performance because nothing must be moved, massaged or reconciled before the analysis.

Download our eBook to learn more

S/4HANA’s data compression and immediate accessibility capabilities have enabled a single source of truth and shared decision-making environment for everyone, the financial transformation approach radically changes how people interact and collaborate to solve problems and improve performance.

Download our eBook Now

You may also be interested in our recent Thought Leadership blog-The Financial Transformation Maze – Developing A Roadmap To Help CFOs

New eBook: S/4HANA is the Future: Understanding Why and How to Get There Download Now

 

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The Financial Transformation Maze – Developing A Roadmap To Help CFOs

Tue, Sep 18, 2018 @ 09:11 AM / by Trevor Lovegrove posted in S4HANA, s4/hana cloud, Financial Innovation, financial transformation, CFO

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By 2020, corporate finance professionals are going to have some pretty big challenges on their hands. Compliance requirements are changing, and the inherent limitations of existing legacy finance and ERP systems are going to be at threat.

There’s a maze of complexity that’s becoming ever harder to navigate, but your competitors are finding smart ways to get through it.

And that’s a problem for CFOs who need to get up to speed on new-generation systems and best practices for business transformation. Doing nothing isn’t an option. You need to start moving – and fast.

The financial transformation maze – developing a map to help CFOs

1-CFOCommon challenges for CFOs

There are a couple of main challenges I see CFOs having to get their heads around in the next couple of years:

  • It takes too long to reconcile, analyze and report on financial data.
  • The accuracy and consolidation of financial data difficult and time-consuming to achieve.

 

In other words,

  • You’re grinding your gears just to pull together the basic financial data needed for month-end & year-end close processes.
  • You’re wasting time reconciling reports because of conflicting data sets.
  • You’re stuck when you need quick ad-hoc and agile reporting to support operational decision-making.
  • Your current data infrastructure makes it almost impossible to predict business performance.

 None of this is satisfactory. And that’s not the end of it.

2-compliance

Compliance and regulatory changes

On top of the challenges of getting timely, accurate data, you have to think about looming compliance changes, such as:

  • Revenue Recognition Changes (ASC 606 and IFRS 15) 
  • Lease Accounting Changes (ASC 842 & IFRS 16) 
  • Financial Instruments Impairments & Disclosures (IFRS 9) 

 

While you wrestle with all this, you have to keep your business imperative in mind: to provide the strategic and tactical thinking that supports growth while keeping your competitors from edging you out.

Before you give up in desperation, don’t lose sight of what financial transformation can help you achieve: better client engagement, increased service profitability and lower costs, and streamlined processes.

These are things all ambitious CFOs want to deliver for their organizations. But you need a plan.

3-action-plan

Developing a plan of action for financial transformation

Getting out of this maze of transformation isn’t quick or easy – but the map is at least simple in construction.

Here are my suggested steps:

 

  1. Think about your starting point – take stock of your current capabilities. What are the pain points holding you back?
  2. Plot the roadmap – work out which platform or solution can help you make progress, and assess the funding needed.
  3. Start moving – proceed to implementation now. It can take 2–3 years for a financial transformation plan to march to completion.
  4. Monitor, manage and adjust course continually - A well-planned implementation should yield incremental benefits throughout the process.

Download Bramasol's newest eBook to learn more.

4-plot

How to plot the roadmap

You’ve already been feeling the pain of not having accurate and timely data. Now you want to draw up your plans to sort it out. What to do?

Good news: there’s a growing set of tech solutions that will help you keep on top of regulatory requirements while also cracking the chronic pains of dealing with inconsistent data.

Here’s what to look for:

  • Real-time and predictive analytics – engage with your customers and optimize cashflows.
  • Combined core ERP and finance systems – use a modular approach to provide best-of-breed capabilities in multiple streams.
  • In-memory consolidation of data and transactions – dump the islands of disparate data and make month-end and year-end closing easier.
  • ‘Single version of the truth’ – end the era of letting opinions overrule data. Get data that everyone can agree on to help you speed up and improve the way tactics are decided.
  • Intuitive user interface – access your data through unified systems (including mobile) that are built to support regular reporting but that also cater for ongoing management and ad-hoc decision-making.
  • Cloud-based implementation – reduce time-to-operation, keep costs down and scale easily.

You could spend a long time researching financial transformation solutions and tie yourself up in knots working out what’s right for your organization - or you can work with a partner that knows the landscape.


Many of those solutions tackle some of the above issues to a greater or lesser extent. But do you and your staff really have the time to research multiple pieces to the puzzle and to assembly them for your specific needs? So, what’s right for you?

S/4HANA – a trusted route through the financial transformation maze

At Bramasol, we collaborate with busy CFOs at companies with revenues in nine figures (hundreds of millions) or above.

We’ve found that they want a reliable partner that looks to simplify processes and supports them throughout the financial maze described above. We give our clients simple real-time and embedded analytics, all built on the cloud and with intuitive interfaces that support the modern mobile user.

This is where the Digital Core embodied by S/4HANA comes in – it addresses all of the above needs and more besides. And we think it’s the best roadmap available for today’s forward-thinking CFO.

Many clients have trusted us to help them overcome their financial transformation challenges.

Download Bramasol's newest eBook to learn more.

 

New eBook: S/4HANA is the Future: Understanding Why and How to Get There Download Now

 

 

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Advanced Analytics Provide the Keys to Compliance, Optimization and Transformation

Wed, Jun 20, 2018 @ 01:40 PM / by David Fellers posted in analytics, financial transformation

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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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Join Bramasol at SAP Aerospace & Defense Innovation Days

Fri, Mar 30, 2018 @ 07:54 AM / by Bramasol posted in SAP Revenue Accounting and Reporting, SAPLeaseAdmin, financial transformation

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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.

9-11-Apr-2018-event-banner-420x300

 

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New eBook: SAP Cloud for Planning

Fri, Mar 16, 2018 @ 07:43 AM / by Bramasol Financial Transformation Team posted in financial transformation, Bramasol, Financial Innovation, S4HANA

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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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Webinar Oct 26: Cloud for Planning and Financial Transformation

Tue, Oct 17, 2017 @ 07:34 AM / by Bramasol Financial Transformation Team posted in financial transformation, S/4 HANA Cloud

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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

Oct26-Cloud-for-Planning.jpg

 

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

Fri, Oct 13, 2017 @ 07:16 AM / by Bramasol Financial Transformation Team posted in financial transformation, analytics, FinancialTransformation-Hot-Tips

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

Sat, Sep 30, 2017 @ 07:11 AM / by Bramasol Financial Transformation Team posted in financial transformation

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Integrating Key Functions Drives Insight-to-Action

AnalyticsEbook.jpg

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

IgnitePossible-Cloud.jpg

 

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Webinar Video on SAP Lease Administration by Nakisa

Fri, Sep 8, 2017 @ 08:19 AM / by Bramasol Leasing Administration Team posted in financial transformation, S/4 HANA Cloud

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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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New eBook: S/4HANA is the Future: Understanding Why and How to Get There Download Now
Download the eBook: Transitioning to ASC 842 using the Portfolio Approach to Group Leases

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