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SAP promotes Central Finance as a platform that greatly improves financial reporting and visibility across a diverse ERP landscape. And most customers are now moving toward shared service centers, with Central Finance serving as the key enabler to optimize business processes such as intercompany, consolidations, and vendor and customer payments into a single financial application.
However, these promised virtues and desired outcomes can quickly turn into a sobering project planning and budgeting exercise. While CFOs are expecting quick wins and ROI in the project, they also have to grapple with significant technical complexities (a.k.a time and cost) to properly integrate source ERP data, a prerequisite to achieve the true value from the original Central Finance business case. Thus, delivering results while staying on-time and on-budget can quickly become an impossible challenge.
The outcome is usually compromise – project teams will often take time and cost-cutting measures, including a rudimentary approach and scope for data integration. Unfortunately, cutting corners in this area undermines the primary differentiators of Central Finance vs. reporting, planning and consolidation systems: instant access to detailed financial data from all sources, with the ability to centralize financial processes. Even worse, future shared service deployments become much more difficult and disruptive.
Learn how leveraging prebuilt software solutions and automation can simplify and accelerate key parts of your Central Finance project, allowing greater value to be achieved sooner.