Machine Learning for Finance

https://www.cpm-view.com/en/machine-learning-for-finance/

Machine Learning for Finance

What is Machine Learning for Finance?

The possibilities and benefits of Machine Learning (ML) and Artificial Intelligence (AI) are very promising. The application of these techniques triggers enthusiasm all round. However, what do the terms ML and AI actually mean? In many cases, the terms AI and ML are mixed up and it seems confusing for many. So, let’s start by having a quick look at the definitions:

  • AI is the concept of machines being able to perform tasks usually performed by humans;
  • ML is an application of AI based on the idea that machines should be able to learn from data and improve themselves by making use of statistics;

Cool, so how does ML work?

ML is about finding and developing algorithms to train software-models. The models are used to predict an output for a specific input. Using the algorithms, the models are trained and the output validated. The input dataset will be split into two different datasets: one to train the models and the second to validate the output. If the output is correct, the model can be used for other datasets and thus used in a business setting. The learning and validation is a continues process.

There are a lot of statistics behind the models and the generated outcomes. The selection and learning of a model is an art in itself. The application of ML on business problems therefore is time-consuming and challenging. It involves using experts like data-scientists, which are scarce in current labour market.

Automated machine learning solve these issues. By automating building and using ML-models, the application of ML is now in reach for many. The automated algorithm runs automatically through the data and selects the models that generate the most relevant information. These automated algorithms make use of a variety of models to make ML more efficient in the organization, without the need for much statistical knowledge. So, ML is now available for your organization as well!

Example of a ML application

How ML could be used in practice is best shown by an example: an investment analysis:

Organizations often make the decision to invest based on the profitability of an investment (let’s forget other strategic reasons for now). This can be calculated based on future cashflows for the investment. However, how can future incomes be predicted when no historic data is available?

To solve this problem, data can be generated that is representative of expected income and costs of the investment. For this goal, Monte Carlo simulations can be applied. Using this technique, the value of an investment can be predicted and the decision can be made whether an investment is financially responsible. The statistical techniques help by generating representative data and calculate a prognosis. This helps to improve the decision-making process.

How can we help?

CPMview provides tooling, which can help organizations to apply ML in financial reporting and analysis of daily operations. This makes decision-making more efficient and quantitively-based. Which is done by implementing automated machine learning tools that run in the cloud, or on the background of your desktop while you can work on your daily tasks.

In the next blog, we will dive deeper into: ‘How Machine learning can be used within the Finance Function’.

 

https://www.cpm-view.com/en/innovative-plug-play-app-for-country-by-country-reporting/

Innovative plug & play app for Country-by-Country reporting

CPMview has recently developed ainnovative cloud app for Country-by-Country reporting. This unique app allows organizations to run the entire Country-by-Country process from a single solution; from compiling the data from different sources to publishing the reports.   

Certificate ‘Qualified Partner Packaged Solution’

Last week CPMview received the certificate ‘Qualified Partner Packaged Solution’ from SAP, for the Country-by-Country app. This means that the Country-by-Country app is a valued solution that makes integrated use of SAP market leading software. The award of this certificate stands for innovative partner services, specialist knowledge, fast time-to-value, low risks and high predictability of projects at very affordable prices. 

Rudmer Bosga, Partner Business Manager SAP Netherlands: “We are very pleased with CPMview’s new proposition. The Country by Country app is ‘spot on’! An enrichment of the SAP Analytics Cloud platform by fully integrating a cumbersome and costly process into the platform and for a fixed price per month in combination with a one-time and pre-defined short implementation”.  

Modern ‘all-in-one’ Cloud solution  

CPMview has extensive experience with the processes surrounding fiscal unity reportingcorporate tax declarations, VAT declarations and Base Erosion & Profit Shifting (BEPS). We advise our clients on a daily basis on how these processes can be overcome in reporting systems. We combined this knowledge with our knowledge of the SAP Analytics Cloud platform and resulted in an ‘all-in-one’ Cloud solution for Country-by-Country reporting.  

“This app is a true plug and play solution for complex reporting processes. It not only provides insight into a company’s financial results, but also shows how tax authorities interpret this data. The results are accessible 24/7 and are visualized in clear dashboards. The app is therefore a good example of a modern financial solution that combines our knowledge of both finance and tooling”, says Bart van Onzen, Partner CPMview.  

https://www.cpm-view.com/en/cpm-market-transformation-vendor-selection/

CPM Market Transformation & Vendor Selection

CPM Market Transformation

In recent years, corporate performance management (CPM) has been observed some major shifts in the market trend. The evolution of technological developments alongside changes in customer demands have led to a noticeable transformation of the CPM market.
The following are a few highlights of key trends we have identified:

  • CPM vendors’ offering are shifting from legacy on-premise applications to cloud solutions. The growth of cloud-based deployment has outpaced on-premises software.
  • Introducing unified, single platforms that streamline financial processes.
  • Applications are designed to be more easily adopted by financial and operational departments.
  • Digitalization accelerates daily operations for the Office of Finance by facilitating automation of rule-based works.
  • CPM software’s enriching product portfolio supports a broader range of functionalities. For example, include business intelligence capabilities in CPM solution.
  • CPM vendors continue to invest in developing innovative functionalities:
    • Leverage machine learning and artificial intelligence (AI) to discover valuable insights behind data and develop forecasts or predictions.
    • Embedded analytics enable users to gain predictive insights, competitive intelligence and analytics capabilities in the same application which deliver better productivity and user experience.
    • Task automation eliminates time-consuming, repetitive manual processes.
    • Intuitive interface to make the solution approachable for both financial and non-financial users.

Vendors are developing their software to be aligned with the shifting market trend while improving the functionalities to better meet customer’s requirements. Is your current CPM tool future-proof for the ongoing market transformation? Are you thinking about changing to new software?

When it comes to choosing new CPM software, some key factors should be evaluated in advance. As the number of CPM solutions increases while business requirements for these solutions grow to the same extent, we notice that digitalization is changing the role of the Finance function. Finance transformation forces companies to review their current business models. As a result, Finance is rapidly merging and expanding within the IT landscapes for many companies as Finance becomes more increasingly a data-driven function.

From our experience, we noticed that most times companies face difficulties in vendor selection. The market trends, system dependencies, business requirements and IT policies together can make it challenging to determine which items to consider, delaying the selection processes and negatively affecting the cost of ownership. Another common problem one will encounter is the dilemma between moving to cloud solutions or remaining with on-premise applications.

With many vendors providing different tools while the market is on the move, choosing the right one for your company can be challenging. This is where we step in to assist you.

What we can do for you

With our background in advising organizations on vendor selection and proven record of implementing CPM processes in multiple tools, we are able to identify your needs and suggest applicable software that fulfills them. We will advise you with the selection of new CPM solutions and provide you with a better understanding of what you should take into consideration when looking for new tooling that supports your CPM processes.

We at CPMview have developed an all-in-one approach to help companies make the best choice for a viable CPM solution. We achieve this by working closely with you in a step-by-step manner throughout the entire process, from the initial gathering of information to the final selection advice.

Requirements Gathering

By holding interviews with key stakeholders, we collect your needs and wishes, and analyze them against current market trends. Your full list of requests will later be translated into business, system and technical requirements to a detailed context and recorded in Request for Information (RFI).

Vendor Research

At CPMview, we conduct in-depth vendor research with up-to-date information which aims to provide you with a clear overview of the capabilities and strengths of different software from all relevant vendors in the market. Based on our research, we objectively pre-select specific vendors that make a good match with your requirements and issue RFIs to them. We analyze and compare all the returned RFIs to draw up a short list of suitable vendors. Together with you, we will design a thorough demonstration test for a Proof of Concept (PoC) workshop with comprehensive evaluation criteria for you to gain an added impression of the shortlisted vendors.

Vendor Analysis & Advisory

Finally, we review vendors’ input during the PoC sessions, find the best match solution for you and advise on vendor selection. Furthermore, our approach contributes to “negotiating leverage” with vendors to help you secure a good value proposition.
By establishing realistic time frames for the project, the vendor selection process can be finalized within 6 months from project start.

Think big, start small

We aim at helping you to save time and limit cost while reducing risk with better decision-making. Our 5-steps all-in-one approach helps you evaluate and choose the most suited CPM solution from the ideal vendor for your project organization.

Are you considering a new CPM solution? Do you want to know more about CPM Vendor Selection? Contact us today, we are happy to help!

https://www.cpm-view.com/en/sap-s-4hana-for-group-reporting-3/

SAP S/4HANA for Group Reporting & real-time consolidation

The business value of real-time consolidation

Last summer, we already wrote an article about SAP S/4HANA for Group Reporting: SAP S/4HANA for Group Reporting is SAP’s newest consolidation solution, running on the S/4HANA platform and is available as cloud and ‘on-premise (running on your local server)’ version. SAP S/4HANA for Group Reporting is directly working on the financial data in the S/4HANA Finance system and enables live consolidation and reporting, without the need to load the data to another system.

Last month we gave an update on the developments in the last six months of SAP S/4HANA for Group Reporting. In that article we discussed the most recent and interesting changes in the last (on-premise) version: 1909.

Now, it is time to focus on one of the unique value propositions of SAP S/4HANA for Group Reporting: real-time data access and consolidation. This means consolidation on real-time plan and actual data both before and after closing. Necessary adjustments can be done locally and results are provided immediately for consolidation.

So how will data flow from source to a consolidated report? How does it incorporate general ledgers from non-SAP source systems and still being able to present real-time consolidated figures? And how does SAP S/4HANA for Group Reporting ensure real-time insight in local and consolidated data in cases of a local adjustment or group / presentation adjustment? And from a business perspective is there really a need for real-time consolidation? Also compared to (real-time) aggregation? In other words, what is the business value of real-time consolidation

How is actual and plan data captured?

ACDOCU (figure 1) is the table that stores all consolidation data and therefore it is the primary table for SAP S/4HANA Group Reporting. It will bring consolidated Actual data coming from ACDOCA and Plan data from ACDOCP together in one table (‘one version of the truth’). This means that all data within a consolidated report originated from SAP S/4HANA Group Reporting are based on the table ACDOCU.Within SAP S/4HANA actual data (e.g. balances for SAP S/4HANA companies) is captured within the table called ACDOCA (figure 1). The table ACDOCA is based on the Universal Journal line items, containing all of the financial fields, as well as a lot of information from other modules. The table called ACDOCP (figure 1 & 2) has the same structure as ACDOCA (Universal Journal). It will be the table to store all planning data; it will cover period-based planning like General Ledger Planning, Cost Center Planning, etc. The object based planning tables also write into ACDOCP (figure 2).

Figure 1: Actual and plan data within S4/HANA .  Figure 2: Period and object based planning.

ACDOCU (figure 1) is the table that stores all consolidation data and therefore it is the primary table for SAP S/4HANA Group Reporting. It will bring consolidated Actual data coming from ACDOCA and Plan data from ACDOCP together in one table (‘one version of the truth’). This means that all data within a consolidated report originated from SAP S/4HANA Group Reporting are based on the table ACDOCU.

How does it incorporate data from outside SAP S/4HANA companies?

As said companies that run on SAP S/4HANA store their Actual and Plan data in ACDOCA and ACDOCP. Companies that run a SAP ERP / ECC system can use the Central Finance solution to ensure that Actual data is also real-time available within SAP S/4HANA.

Figure 3: Overview on how to incorporate data from outside SAP S/4HANA companies.

The Central Finance solution (see figure 4 for a schematic overview) can be made up of a combination of SAP systems of different releases. Financial Accounting (FI) and Management Accounting (CO) postings can be replicated into this Central Finance system. Central Finance allows to create a common reporting structure. To prepare for this common structure, different accounting entities must be mapped (for example, account, profit center, or cost center) in source systems to one common set of master data in the Central Finance system. Then financial accounting (FI) and management accounting (CO) postings can be replicated. These posting are combined into one document – the universal journal entry and this data is stored in the table ACDOCA (figure 4).

Figure 4: Central Finance System Landscape

Since all data is stored in ACDOCA, data is real-time available in S/4HANA for Group Reporting.

To use S/4HANA Group Reporting Data Collection you also have to run SAP Cloud Platform (SAP’s open platform as a service for developing cloud business applications in a fully provisioned environment). Also SAP Analytics Cloud runs within this platform and is the strategic application for Planning & Analytics. This planning application in combination with SAP S/4HANA feeds the table ACDOCP.Companies that do not use a SAP ERP / ECC system and do not want to use the Central Finance solution, can use the S/4 HANA Group Reporting Data Collection option (see figure 5). Data Mapping apps allow you to define mappings between source dimensions from any external system and target dimensions available in SAP S/4HANA. At this moment the source is limited to CSV- files, and the destination is limited to the ACDOCU table of SAP S/4HANA for Group Reporting. The mappings can be directly created in Microsoft Excel files and then uploaded in the data mapping definition. These mapping files are used to transform data and to import the data to ACDOCU (see figure 5 for an simplified diagram). More developments and innovations can be expected.

Figure 5: SAP S/4HANA Group Reporting Data Collection

What is the impact of changes in data flows?

Any local adjustment done on actual or plan (through the use of SAP Analytics Cloud) data within SAP S/4HANA (or within any SAP ERP company using Central Finance) will be real-time available within SAP S/4HANA for Group Reporting in local currency or any other reporting currency that you like. As well as in any structure that you want, consolidated or simply aggregated. Within this configuration the same can be said for presentation or group adjustments that have an impact on single entity level (a subsidiary). The adjusted data will be real-time available at consolidated level but not at local or aggregated (using a reporting hierarchy) level since the adjustment is done in ACDOCU and not in ACDOCA.

Any local adjustment done for any NON SAP ERP company that uses SAP S/4HANA Group Reporting Data Collection will not be real-time available within SAP S/4HANA for Group Reporting, since this local adjustment first has to be loaded to the table ACDOCU. And of course the same can be said for presentation or group adjustments that have an impact on single entity level (a subsidiary).

In conclusion: what is the value of real-time consolidated data?

For all companies that report actual or plan (through the use of SAP Analytics Cloud) data within SAP S/4HANA (or within any SAP ERP company using Central Finance), data will be at all levels (local, consolidated or aggregated) real time available. For NON SAP ERP company that use SAP S/4HANA Group Reporting Data Collection, data will not be real-time available.

So for SAP companies (in many cases) real-time consolidation is possible. But the fact that it is possible does not mean that it is necessary or that it has true business value.

First let us define the difference between local, aggregation and consolidation. Local financial information is related to for example a P&L, Balance Sheet and Cash Flow Statement in local currency or any other reporting currency after currency conversion. Consolidation and aggregation both incorporate currency conversion to ensure that ‘apples are compared with apples’. The difference between consolidation and aggregation is that consolidation incorporates rules for the elimination of equity and intercompany relations within a predefined group of reporting or legal entities. The relations within a group is based on ownership-% or the amount of control one entities has on another (or more) entities. Aggregation is only based on a predefined hierarchy of reporting or legal entities.

From a statutory or GAAP perspective real-time financial consolidation seems irrelevant. For example,  currency conversion at a ‘real-time rate’ makes from a business view more sense, but it is not the basis for IFRS. P&L-items and movements in balance sheet items are converted at average month rate and closing values of balance sheet items are valued at month end rate. So for financial (responsibility) reporting towards any stakeholder it does not seem to have much added value.

From a business perspective real time consolidation seems very interesting. It will accelerate the local month-end close process (intercompany and account reconciliation can be done real-time and data quality can be improved via accurate transaction-level data matching) and therefore also the group reporting process.

In my experience, real-time consolidation in the form of a balance sheet or cash flow statement doesn’t seems likely; these processes are still very much monthly driven. But for real-time financial information like cash position, working capital, gross and net margins there is a true need for instant information due to rapid changing (market or business) circumstances but this is more related to information at local level or (at most) at aggregated level. No financial manager makes daily decisions on a consolidated P&L, balance sheet or cash flow statement. Daily decisions are related to operational processes and any information that comes from or related to those processes. So in conclusion: in my opinion real-time consolidation has business value in the context of shorter monthly reporting cycles and that benefit on its own can be reason enough to invest in real-time consolidation!

As always, we will be following all developments and keep you up-to-date. For more information about SAP Group Reporting or other CPM/EPM software solutions: feel free to contact us. We are happy to help.

 

https://www.cpm-view.com/en/update-sap-s-4hana-for-group-reporting-2/

Update SAP S/4HANA for Group Reporting

SAP S/4HANA for Group Reporting  – latest update offers major improvements.

What is SAP S/4HANA for Group Reporting?

Last summer, we already wrote an article about Group Reporting: Group Reporting is SAP’s newest consolidation solution, running on the S/4HANA platform and is available as cloud and ‘on-premise (running on your local server)’ version. Group Reporting is directly working on the financial data in the S/4HANA Finance system and enables live consolidation and reporting, without the need to load the data to another system.

Now, it is time for an update on the developments in the last six months. In this article we discuss the most recent and interesting changes in the last (on-premise) version: 1909.

Release 1909?

For Group Reporting, SAP releases yearly major updates for the on-premise version of the software. Last September, the 1909 version was released, containing major improvements. In the table below, an overview is shown of the improvements of both the 1909 and the preceding 1809 version. It is clearly visible that the developments are significant. In the coming paragraphs, we will discuss some of the most interesting changes:

Advanced IC matching and reconciliation

The intercompany matching and reconciliation has always been, and still is, a time-consuming phase in financial reporting cycles. In Group Reportings 1909 release, considerable improvements have been made in the efficiency for these activities. In the new apps, the following functionality can be found:

  • Real-time matching and reconciliation
  • Automated (IC-) processes
  • Insight in reconciliation using built-in overviews
  • Drill-through up to transaction-level documents
  • Follow-up using automated posting- and matching of documents

Data mapping

In the cloud version of Group Reporting (and later on also the on-premise version), data mappings are available. Using these mappings, non-SAP sources can be mapped to the S/4 Finance tables and data be loaded. Both the data as well as the mapping itself can be loaded into the system, allowing local entities to take responsibility for mapping their local chart-of-accounts (CoA) to the group chart-of-accounts:

  • The source file to be loaded must be a CSV file. The format is industry-standard and is easy to generate for many source-systems.
  • The mapping of the local chart-of-accounts (CoA) to the group chart-of-accounts can be maintained in Excel and loaded into the system.

The import of data from external sources and mapping of dimensions has been standard functionality for many years in most consolidation systems. In Group Reporting, due to the internal S/4 Finance focus, the mapping was still missing. Since version 1909, this functionality-gap was closed by adding the mapping option. This greatly increases the possibilities of using the system for many organizations that have entities on non-SAP source systems.

Matrix consolidation

Traditionally, most organizations consolidate their financial data using a (statutory) group-structure of entities. This consolidation functionality is part of many consolidation-systems. By performing this consolidation, they comply to the statutory reporting requirements. However, more and more organizations would also like to consolidate the same data using additional dimensions, like cost-centres. This requires a matrix consolidation, which is more complex and often not supported by many software solutions. In the latest version, Group Reporting can now perform such a consolidation.

Conclusion

SAP Group Reporting (SAP S/4HANA for Group Reporting) has made a big step in its development. This increases the potential of the tool for many organizations. The data mapping makes it much easier to map financial data from source-systems to a group chart-of-accounts for many organizations.  As always, we will be following all developments and keep you up-to-date. For more information about SAP Group Reporting or other CPM/EPM software solutions: feel free to contact us. We are happy to help.

 

https://www.cpm-view.com/en/onestream-xf-5-2-analyze-without-compromise/

OneStream XF 5.2 – Analyze without compromise

Analyze without compromise

Today, companies need the finance organization to be more than just the recordkeeping accounting function. They rely more heavily upon the CFO and finance organization as a strategic partner to the business, by providing business insight and predictions to support decision-making and impact the strategic direction. Finance leaders deal with these challenges by becoming more forward-looking and moving more and more towards the adoption of (predictive) analytics, data science and other innovative technologies. These technologies allow them to create meaningful forward-looking insights, combining both operational and financial information to support more informed decision-making.

OneStream’s BI/Analytics Strategy fits this need perfectly, by enabling finance and business users to quickly integrate, analyze, visualize, and draw insights across all aspects of their business within a single, unified platform. Their strategy is to provide easy access to all the data these users need for analysis, directly within OneStream so they can “analyze without compromise.”

OneStream’s latest platform release, OneStream XF 5.2, enables organizations to integrate a broad range of data types, from summarized financial data to detailed operational data in a single platform. New BI Dashboards and Pivot Grids enable self-service data visualization to highlight and analyze key business trends.

In short, the following features were added to OneStream’s Fall release:

  • BI Blend
  • Self-Service Dashboards
  • Pivot Grids
  • Performance on Large data Volumes

BI Blend

With the BI Blend feature, OneStream enables the blending detailed operational data with cube dimensions. It transforms and aggregates all data into a unified reporting format by using the metadata and hierarchies from the cube. The data is stored in separate tables, from which it can be reported using cube views, dashboards and Pivot Grids (discussed later in this blog). The blended data is read-only, meaning that no calculations or business rules can be utilized. However, it is possible to translate the data into a single target currency.

The BI Blend feature applies an in-memory process to collect, transform and aggregate the information. Once that process is finalized, the data is stored in relational column-store tables. During this process, also the parent records are stored in the table, allowing for greater performance.

The BI Blend feature is especially useful when you want to aggregate and report operational information based on hierarchies in OneStream, but do not want to put all that information into your financial model supporting the concept of “leave the data where it belongs”. BI Blend enables a governed process, while keeping your planning models agile.

Self-Service Dashboards

Within this new release, it becomes much easier to create highly visual dashboards. In prior releases, creating a dashboard required setting up many elements and linking them together. In version XF 5.2, the BI Viewer component is introduced allowing you to easily create a dashboard by dragging and dropping different items to view your data. In addition to the basic chart types, you can also use gauges, range filters, grids, maps and many more.

All elements are interactive and by means of drilling down into a certain item, all other items on your dashboard are adjusted as well. By means of using the color schemes in a smart way, you can also view a certain department, product or entity in the same color across all visualizations.

OneStream XF 5.2 enables users to quickly configure interactive dashboards that grant users real-time access to trusted data in OneStream, and other data sources. With this enhanced dashboard building component, OneStream allows customers to reduce the need to export data out to third party BI tools such as Power BI and Tableau to leverage advanced visualizations.

Pivot Grids

Besides the new BI Viewer component, another dashboard component has been released, called the Pivot Grid Dashboard Component. This offers fast ad hoc data exploration of large volumes of data, by creating a pivot table. Data from any source can be used to perform multi-dimensional analysis. Conditional formatting can be used to quickly identify and highlight important information, just by a click of the mouse. Additional key features include the ability to add calculated fields, like text and measures, sort, filters, automatic totals and many more.

Performance on Large Data Volumes

OneStream XF 5.2 includes some enhancements to improve performance in reporting and analysis on larger data sets, such as paging and sparse data suppression. In 2020 and 2021 OneStream will deliver additional capabilities as part of the X-Scale initiative, including scheduled and autonomous scaling of MS Azure cloud resources.

How can your organization benefit?

With the XF 5.2 release, the OneStream platform is extended with self-service dashboards and built-in governed analytics. Instead of moving your data to a BI platform, OneStream has brought the BI capabilities into OneStream. You can bring in all information you need into OneStream and analyze it within a single platform. This way, you retain all the financial intelligence, governance, workflow and the single version of the truth for financial and operational data that you need for reporting, analysis and decision-making.

With these new features, you can:

  • Simplify IT landscape – utilize one platform for CPM, BI, Analytics and Visualization across all parts of the organization. This allows you to eliminate fragmented tools and reduce the total cost of ownership.
  • Integrate financial and operational data – rapid collecting, mapping and loading of large data volumes from external sources.
  • Eliminate latency and replication – no need for moving data into separate BI tools, causing latency and loss of control.
  • Increase speed of value – self-service dashboards allow finance and business users to analyze financial results or operational data super-fast. All can be done using familiar workflows, controls and analysis tools.
  • Complete transparency – the OneStream platform provides complete transparency and audit trails for all data within the platform; financial, planning or operational data.
https://www.cpm-view.com/en/onestream-splash-madrid/

OneStream Splash Madrid | 17-19 September

OneStream Splash Madrid

As of May 2019, CPMview is a recognized partner of OneStream and we were happy to join the EMEA Splash in Madrid. Many customers, prospects and partners attended the three-day event and it reflected the increasing presence of OneStream in the EMEA market. During the inspiring keynote, Tom Shea (CEO) previewed some of the upcoming enhancements and functionalities, such as Artifical Intelligence, Machine Learning and advanced Business Intelligence, which will help finance professionals to optimize their financial processes and become more efficient. We would like to share those latest developments with you in this blog.

Advanced Business Intelligence

In the upcoming release of OneStream XF 5.2, advanced BI functionalities will become available. During the keynote, Tom Shea showed how easy and intuitive it will be for users to create their own dashboards which are fully interactive. It allows finance professionals to combine tables, charts, graphs and other visualizations and drill down the data, all the way to transactional data if needed, to better understand the business trends.

Machine Learning and Predictive Analytics

OneStream’s strategy is to integrate machine learning in two elements of their platform. Firstly, they want to use it for autonomously scaling the platform by means of the X-scale architecture. In the upcoming release this architecture enables smart load balancing and enhancing the performance of the platform based on all server information that is collected and reviewed. Subsequent releases will allow for automatically scaling server resources up and down, depending upon the needs of the business. For example, during the period end close or during budget season, you can automatically benefit from the full potential of the cloud and scale back resources when you do not need them. This will optimze the performance and the costs.

Secondly, OneStream wants to integrate advanced analytics into key business processes. Their vision is that predictive analytics and/or machine learning can help to create a non-biased scenario in planning, budgeting and forecasting. Currently, a solution is available in the Marketplace XF which facilitates predictive forecasting, but a more complete Machine Learning platform and enhanced solution will become available later this year.

OneStream’s Unified SmartCPM platform

Besides presentations about the latest product innovations, also many clients presented their success stories. From their presentations, it became clear that a great added value comes from the XF Marketplace. Most companies start using OneStream for consolidation and budgeting and forecasting. Once these processes are fully implemented, they start extending the value of the platform by adding additional solutions like account reconciliation, cash planning and people planning. Some of the advantages of the Marketplace that the customers mentioned are:

  • New solutions can be implemented relatively fast and easy;
  • The XF Marketplace keeps evolving and new solutions are added regularly;
  • No need to set-up integrations, since all solutions use the same platform;
  • Only limited training is required, since users are already familiar with the platform;
  • Less costly than purchasing separate CPM solutions.

OneStream commits to delivering 100% customer success. During the Splash event we experienced that first hand, with the inspiring keynote, many product innovations, customer success stories and hands-on workshops. OneStream, thank you for having us and we will see you next year.

https://www.cpm-view.com/en/breakfast-session-onestream/

Breakfast event OneStream 29 October Utrecht, Restaurant Zuiver 08:00-10:00

The modern, complete and unified platform for Corporate Performance Management

We would like to invite you to our OneStream breakfast event. During a delicious breakfast you will be informed in a short time about the possibilities and advantages of OneStream by means of a live demonstration.  In addition, there is the opportunity to share knowledge and experiences with peers and OneStream specialists.

Breakfast session OneStream

Date: 29 of October, 2019
Time: from 8 am- 10 am
Location: Restaurant Zuiver, Krommewetering 51, 3543 AM Utrecht

 

Event content

The market for Corporate Performance Management solutions is accelerating its shift from mature on-premise offerings to cloud solutions. Innovative SaaS solutions are becoming more and more the standard and are replacing the established CPM 1.0 offerings. OneStream offers a modern solution for Financial Consolidation, Reporting, Planning, Analytics and Data Quality in a unified platform. OneStream aims to become the CPM market leader for the Office of Finance.

Who should attend?

Curious about the possibilities of OneStream for your organization? Are you responsible for Finance, IT or the administration of your current CPM solution? Sign up, enjoy a delicious breakfast and get to know OneStream’s solutions live.

Costs: There are no costs for participating in this session.

 

Registration Breakfast session OneStream

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https://www.cpm-view.com/en/breakfast-event-group-reporting/

Breakfast event SAP Group Reporting 31 October Utrecht, Restaurant Zuiver 08:00-10:00

What is SAP S/4HANA for Group Reporting?

SAP Group Reporting for S/4HANA is a strategic SAP solution for consolidating data directly on the S/4HANA system. The objective of SAP is to combine the best parts of the different consolidation solutions offered by SAP in one consolidation solution integrated in the S/4HANA ERP system.

The principle of “continuous accounting” is applied here in combination with real-time access to financial information. This is achievable because SAP S/4HANA Group Reporting works on the same data as the accounting process, so that no data replication is required. This makes SAP S/4HANA Group Reporting the solution for real-time consolidation.

SAP Group Reporting seamlessly integrates with SAP Analytics Cloud to consolidate and analyse budgets & forecasts.

Breakfast Event Group Reporting

We would like to keep you informed of the most recent developments in the field of Group Reporting. That is why we have planned a session in which, during a delicious breakfast, we will update you on the latest developments.

Event info

Date: October 31, 2019
Time: 8-10 am
Location: Restaurant Zuiver, Krommewetering 51, 3543 AM, Utrecht

 

 

Registration breakfast event Group Reporting

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https://www.cpm-view.com/en/key-features-benefits-sap-s-4hana-for-group-reporting/

Key features & benefits of SAP S/4HANA for Group Reporting

Key features & benefits of SAP S/4HANA for Group Reporting

SAP S/4 HANA for Group Reporting is SAP’s next generation consolidation and group reporting solution. It is available for all deployment scenarios (on-premise, single and multi-tenant) and is designed to incorporate the best features of prior SAP consolidation solutions. For example, SAP BPC (Business Planning & Consolidation), SAP FC (Financial Consolidation), SAP SEM-BCS (Business Consolidation System). Based on latest product releases*, a short summary is given of key features of this new consolidation and group reporting solution.

Key feature 1 – Simple data modelling

Data modelling related to SAP S/4 HANA for Group Reporting is as any other consolidation solution, based on required fields, f.e. dimensions (DIM), consolidation unit (CU) , chart of accounts (CoA) etc. The addition of additional dimensions or reporting items within this new solution is as easy as indicated in the picture to the right (no extra modelling or mapping to add additional dimensions required).

You just mark a check box and additional reporting requirements are added to your data model and become master data. This is all done real-time and without any data replication. So from a master data management perspective a major advantage compared to other CPM vendors. But then again, keep in mind that this major advantage is only available for those companies that have implemented a SAP S/4 HANA for all finance related transactions (ERP).

Key feature 2 – Live data collection

Data collection can be done by selecting the desired upload method; in this case reading from the Universal document.
The Universal document integration allows for local currency of consolidation unit to be populated from any currency field in Universal Journal (i.e. Functional Currency).

Key feature 3 –  Live, Extensible master data

SAP S/4 HANA core accounting master data is real-time available (can be shared (without replication)) and can be extended with master data that is only relevant for consolidation. In other words, consolidation master data can be easily combined with accounting master data. See screenshot below.

Key feature 4 – Easy set-up of validations

When setting-up the validation rules (in the general information tab) you have one, clear view  (see screenshot below) for all necessary parameters. For each validation rule an id is created, a name for the validation rule can be given, a tolerance can be precisely set and a control level (e.g. error, warning or information) can be set. You can also enforce a textual comment for each validation rule and it is also possible to visualize the formula that a validation rule uses for the left and right side.

 

Key feature 5 – Consolidated reporting

Analysis for Office (AFO) is the reporting solution for the creation of consolidated reports like balance sheets, P&L or Cash Flow Statement. It will be the main facilitator for reporting packs at local and consolidated level.

SAP Analytics Cloud is the reporting solution for visualization of any consolidated or non-consolidated financial information. The use of a live data connection ensures that analysis and process steps can be facilitated by looking at real time data.
When the Digital Boardroom is also used, than management can have interactive discussions using commenting and presentation decks looking at live data at any level and granularity.

                  

Key benefits

Finally we can summarize the following benefits for SAP S/4 HANA for Group Reporting:

  • Fully aligned with SAP S/4HANA key concepts of real time data access and minimizing data replication ( transactional and master data).
  • Eliminates need for periodic extraction and replication of data into traditional stand-alone solutions.
  • Leverages “single source of truth” being the Universal Journal.
  • Fully integrated component of SAP S/4HANA (common user experience, authorizations, reporting tools, shared master data (where applicable) and full transactional data access).
  • Potential to significantly reduce time to close, facilitate continuous accounting and enhance both auditability and reliance on reported results.
  • New innovative capabilities and concepts leveraging the power of in-memory computing.

* Latest product releases: SAP S/4HANA for Group Reporting Release 1809 (on-premise and single tenant); and SAP S/4HANA Cloud for Group Reporting Release 1905 (multi-tenant)