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!
The value of using pre-built integrations for non-SAP data sources was the focus of a previous post on Third Party Integration for SAP Central Finance. Here is a follow-up, providing an overview of the main components of the Magnitude SourceConnect for SAP solution set, which provides solutions to both physical and logical data integration into SAP Central Finance: Read more
The allure of SAP Central Finance for Finance organizations to completely reimagine business processes for the digital age is compelling. SAP rightly claims some significant benefits from Central Finance and the impact of pulling together all financial information as a single source of truth is strategic and powerful.
In moving forward with your Central Finance implementation, you will quickly discover that SAP does not provide source system connectors for non-SAP data so the question of how to integrate ‘external’ source data quickly becomes a hot topic. Any company considering Central Finance has certainly done many system integration projects before, and at first glance it may seem natural to tackle this project as a typical in-house (or system integrator-led) custom development effort, but with a little consideration, you will see that is it not so simple, and that in fact, custom development is fraught with risk. Read more