Companies need better finance tools to create leverage among all other firms around the world nowadays. Otherwise, evaluating big financial data and turning it into meaningful reports take a huge time or even wouldn’t be possible. Besides, These reports need to be available at the right time to take quick actions.
S/4HANA Central Finance provides real-time data from SAP or NON – SAP systems by replicating data from that systems to Central Finance system with SAP Landscape Transformation Replication Server (SLT). The punch line here is creating a common reporting structure to analyze all data from various sources. Master data such as GL accounts, profit centers, cost centers are mapped to realize that data transfer. Central Finance’s table structure based on Universal Journal postings that enables using Single Source of Truth. Decisionmakers would have wide perspective to develop long–term business strategies.
S/4HANA Central Finance can be implemented on-premise or on cloud. Both implementation approaches will provide access on any device, instant insights, and a task-based, SAP Fiori interface. On the other hand, the cloud approach is becoming more popular in this technology era due to the economy, being fast adoption properties.
S/4HANA Central Finance could be used with SAP Landscape Transformation Replication Server (SLT) and SAP Master Data Governance (MDG).
The SLT server retrieves data from the database in the other source systems and sends this information into the relevant Central Finance interface.
The retrieved transactional data stored in Universal Journal entry table to provide real-time and right data for financial reports.
After the process of mapping master data, Central Finance enables error monitoring to keep records of any errors occurred. The corrections or repost activities might be done through error monitoring screen.
Monitor and Error Handling is done with SAP Application Interface Framework (AIF) screen which enables make corrections and repost the item or process the item again after, for example, you correct the mapping rule of adjusting incorrect values in the document.
There are multiple use cases for Central Finance as a S/4HANA deployment option, with the unifying feature being one or more legacy ERP’s that will transfer financial data to Central Finance.
While big mergers and acquisitions are being planned, Central Finance can be used for solution options with its flexibility, for example, The management of companies doesn’t need to care about having various system types such as SAP or NON – SAP, this could be achievable with Central Finance.
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