The Need for a Financial Planning and Budget Solution
Despite the clear advantages, many companies still do not have a specialized financial planning and budget solution. According to research by BARC, 50% of companies lack such systems, often citing reasons like high costs, complex processes, lack of internal support, decentralized operations, and reliance on in-house solutions like Excel spreadsheets. These challenges lead to significant pain points, including data silos, manual processes, low collaboration, inefficient reporting, and compliance and security risks.
Pain Points and Challenges of SAP BPC
While SAP BPC has served many companies well, it comes with its own set of challenges. Users often face issues like rigid workflows, manual processes, and limited reporting capabilities. During budget cycles, errors in Excel macros and data validation can cause significant delays and frustrations. Additionally, SAP BPC has an expiration date for support and updates, making it difficult to improve and integrate with other systems. The high cost of maintaining servers and applications further adds to the burden.
Moving to the Cloud with SAP Analytics Cloud
The transition to SAP Analytics Cloud offers numerous benefits, including innovation, time and TCO reduction, improved connectivity and user experience, and the ability to reuse current developments. SAC is constantly updated, ensuring that users always have access to the latest features. The subscription-based platform allows for fast decisions and real-time data access, enhancing the overall user experience. Moreover, SAC enables business users to control the system, reducing reliance on IT and fostering collaboration.
xi.Planning Packages: Revolutionizing Financial Planning
xi.Planning Packages, powered by Improving, are designed to revolutionize financial planning by integrating seamlessly with existing systems and providing real-time data insights. These packages offer a suite of four scalable solutions tailored to different business needs:
Essential Package: Provides foundational tools for structured planning processes.
Silver Package: Introduces advanced features for data analysis, team collaboration, and custom reporting.
Gold Package: Delivers advanced planning scenarios for businesses with complex needs.
Platinum Package: Offers unparalleled excellence and precision for highly sophisticated planning requirements.
Each package includes modules to fit business needs, including:
operational expenses
capital expenditures
labor and workforce
Revenue
production costs
cash flow
financial statements
custom modules
Real-World Implementation: A Case Study
A leading energy company, North River Midstream, successfully implemented xi.Planning Packages and transitioned to SAP Analytics Cloud. The company faced significant challenges with SAP BPC, including manual processes, data validation issues, and reliance on Excel spreadsheets. By moving to SAC, North River Midstream streamlined its forecasting process, improved collaboration, and enhanced decision-making.
The transition involved a digital transformation strategy, simplifying and enhancing existing processes. The company chose SAC for its ability to integrate with Employee Central and provide detailed planning at the GL level. The implementation process included extensive training sessions and feedback collection to ensure smooth adoption. To learn more about how SAP Analytics Cloud can transform your financial planning, contact us today!
