Customer-Findings-from-the-SAP-Central-Finance-Exchange

Customer Findings from the SAP Central Finance Exchange

Earlier this month, Magnitude and TruQua hosted ‘The Central Finance Exchange’, where SAP Central Finance customers convened to share their perspectives and best practices. The attendees participated in a pre-workshop survey which highlighted valuable insights on a fundamental discussion theme: the need to deal with data from third party non-SAP sources.

Among the top-line findings:

  • 91% of surveyed customers have non-SAP financial systems (and so have a potential need for SourceConnect)
  • Although 41% reported only 1 source system type (Oracle EBS, JDEdwards, SAP BusinessOne, etc.), 23% reported 5 or more system types and one had 20!
  • Around half of those surveyed had over 10 individual instances of source types, with an average of 100 and as high of 400!
SAP Central Finance Exchange

SAP Central Finance Exchange
Source: Truqua

A wide range of issues were discussed at the conference, including two of the hottest topics which require various aspects of third party data integration:

  • Master Data Harmonization: how and when to harmonize and align master data across multiple source systems;
  • Shared services platform for Finance: how and when to use SAP Central Finance as a shared services platform for Finance and the implications and requirements for writing back financial updates from Central Finance to the source systems.

Here’s the full results of the Central Finance Exchange survey, posted by our partner Truqua.

Magnitude SourceConnect is a solution for 3rd party data integration with SAP Central Finance. To learn more, check out our SAP Central Finance Resource Library.