Answer
‘mySAP ERP Financials’ is built on
the NetWeaver platform, which is the foundation for service oriented business
solutions, for deploying financial processes at a faster pace. Irrespective of
the business type, mySAP ERP Financials is designed to support financial accounting
requirements to provide a single complete platform to achieve excellence in
accounting, performance management, financial supply chain, and corporate
governance.
The features include:
1. Industry-Specific Financial
Management
mySAP ERP Financials provides a
comprehensive and robust analytical framework to
consolidate and/or dissect business
information generated in industry solutions or core
enterprise processes: all managers
in all operations have an improved visibility with a single
integrated solution.
1. Performance Management
mySAP ERP Financials provides a
single solution for the entire life cycle of Corporate
Performance Management by delivering
real-time, personalized measurements and metrics
to improve business insight and
productivity of non-technical users. Executives, managers,
and business workers will now have
access to information such as business statistics and
Key Performance Indicators (KPI) presented in the context of
business tasks for better
insight and faster decision making.
mySAP ERP Financials encompasses:
1.
Consolidated financial and statutory
reporting
2.
Planning, budgeting, and forecasting
3.
Strategy management and scorecards
4.
Risk management
5.
Financial analytics
2. Financial and Management Accounting
mySAP ERP Financials helps companies
comply with global accounting standards (such as
the United States’ Generally
Accepted Accounting Principles (GAAP) and the International Financial Reporting
Standards (IFRS). With the ‘New FI-GL’ functionality (Refer to Q.181 for more
details) you will now have the ability to generate financial statements of any
dimension of the business (unit, profit center, geographical location, etc.). This
offers greater flexibility to extend a chart of accounts and allows an easier
method of reporting by individual management units and segments. This feature
helps companies reduce the complexity and costs associated with parallel
accounting or managing a set of books by region, industry, or regulatory
reporting statute.
3. Corporate Governance
With a set of applications and tools, mySAP ERP Financials
assists in meeting the specific
requirements of today’s financial regulations such as the SarbanesOxley Act. You now
have an intuitive mechanism to collect, document, assess,
remediate, and attest to internal
control processes and safeguards to ensure transparent
business activity. By configuring
controls and defining rules and tolerances for your
business, you can easily customize
internal processes for security, reporting, and error
prevention. In addition, you can now
document all your internal control processes and make them
visible to corporate executives,
auditors, and regulators.
1. Financial Supply Chain Management
Provides the tools to help you manage your financial supply
chain and cash-flow cycle more
effectively, through end-to-end process support of:
1.
Credit Management
2.
Electronic Bill Presentment and
Payment
3.
Collections Management
4.
Dispute Management
5.
In-house Cash Management
6.
Cash and Liquidity Management
7.
Bank Relationship
8.
Treasury and Risk Management Processes
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