Rapid enablement of SAP S/4HANA Central Finance
The power of SAP S/4HANA Central Finance is that it aggregates all financial transactions into a central system for advanced reporting, scalability and ultimately transformation of the finance function. This is a major strategic advantage for companies who adopt the system, however, to realize these benefits, data from multiple source systems must be effectively and efficiently loaded into Central Finance – which is where Magnitude SourceConnect for SAP can help.
Magnitude SourceConnect Transaction allows rapid connection to a variety of source systems without the need for development.
- Pre-built source connectors are available for an expanding library of systems, including Oracle EBS, JD Edwards, PeopleSoft and more.
- Additional source connectors can be developed on demand in as little as 4-6 weeks each, and new sources can typically be brought on-line in 2-3 weeks each.
Each source connector supports up to 23 transaction types (depending on the source system) which are extracted from the source and mapped into the required format for Central Finance.
Magnitude SourceConnect Harmonization checks for data consistency across connected sources (including SAP sources) and builds a mapping to harmonize disparate data which would otherwise invalidate subsequent financial analysis or at least make it a poor foundation for decision-making. Harmonization is therefore a crucial step in enabling Central Finance.
- Project planning dashboard automatically extracts key data from each source and creates metrics to plan implementation based on measured data consistency and data quality in source systems.
- Create and maintain key value mappings across all connected data sources (including SAP sources). Key data for customer, material, vendor and GL account codes are extracted from source systems. Similar items are automatically matched and merged to build a complete master record, subject to human checking, as required. Based on these matches, the Business Mappings (complete master records as well as cross-system key value mappings) are created and loaded in Central Finance to bridge the data differences between systems.
- Chart of Accounts parent-child hierarchies are loaded from source systems and loaded into a hierarchy browser, so GL account codes may be properly matched and reflected in Central Finance.
Magnitude SourceConnect Drilldown stores transaction details that have been extracted from the source systems in a DataMart for future reference. Even though the key financial information is loaded to Central Finance, there is often a need to refer to the original complete transaction details for confirmation or reconciliation. In this case, a Drilldown capability allows for quick research and additional reporting.
- View original transaction detail for non-SAP sources
- Enable complementary reporting on on-financial data (or combination of financial and non-financial data)
- Maintain persistent transaction history even when source systems are not available
Time cost and risk – Without Magnitude SourceConnect for SAP, companies may be tempted to develop their own data integration and harmonization capabilities, but in most circumstances, this would be a mistake as any development would require intimate knowledge of multiple source systems and how they each uniquely represent transactions and how these would have to be transformed into the required SAP format. In addition, the automatic creation and review of key field mappings is a complex topic requiring specialized match capabilities. Taken together, the specialized knowledge, development and QA difficulty to say nothing of ongoing maintenance, makes home-grown solutions impractical as well as highly risky.
Magnitude SourceConnect for SAP offers pre-built solutions to connect and harmonize multiple source systems for the fastest, lowest cost, and lowest risk implementations of SAP S4/HANA Central Finance.