In June 2019, Magnitude SourceConnect, TruQua, and SAP collaborated to host the annual Central Finance Exchange. This year’s event in New York City included 40 finance and IT professionals across 11 companies all using SAP S4/HANA Central Finance. Attendees were given the opportunity to share their experiences relating to their SAP Central Finance deployments in addition to their upcoming plans for future innovation. Read more
Attending SAPPHIRE NOW in Orlando, May 6-9? Join our Magnitude product experts to learn how we are driving productivity and bringing more value to SAP users. Read more
Adopting SAP Central Finance as part of your finance transformation starts a journey that can bring tremendous value to your organization. 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. Read more
As we reflect upon 2018, it’s been a tremendous year of technology innovation and product momentum for Magnitude. We’ve invested in significant capabilities to help businesses address mission critical challenges across the enterprise data lifecycle. Read more
With 91% of surveyed SAP customers having non-SAP data sources, third-party data integration remains a hot-button issue.
If you have third-party data to integrate with SAP Central, note that we’ve just released a must-watch video on Magnitude SourceConnect for SAP. It’s for anyone considering an implementation of SAP Central Finance – especially if you want to streamline that implementation.
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. Read more
The first post in this series discussed the 5 types of data integration required to fully enable SAP Central Finance. This post considers the different sources that must be integrated.
Having established the 5 key integration requirements, let us now go a little deeper and consider the many source systems that may need to be integrated, and how they can be handled. First though, it is worth noting that most companies have a LOT of source systems. Part of the value of introducing Central Finance in the first place, is that financial systems are gathered over time, through acquisitions and reorganizations and they tend to be very ‘sticky’, meaning they are difficult to remove without a lot of concerted effort. So companies end up with many systems that comprise of many different versions and instances – and a deep need for Central Finance! Read more
These days, one of the top challenges of corporate finance is to provide a simple and complete view of corporate financial information. Typically, this involves pulling information from multiple systems and finding some way to integrate it – typically intensive, manual, error-prone work that often falls short of the objective of the ‘simple, complete’ objective. Fortunately, SAP has introduced SAP S/4HANA Central Finance to solve this problem! The core value proposition of SAP Central Finance is that it can pull together data from multiple financial systems and present it in a single, unified system for maximum visibility and control – a worthy and most valuable objective, to be sure!