SAP Business Planning and Consolidation (SAP BPC) has gained popularity as businesses recognize the value of reporting, forecasting, budgeting, and planning. This is an application that is designed to handle financial practices on an integrated platform. It supports financial, consolidation, and planning reporting.
Organizations now integrate operational and sales planning and financial planning to attain better control over their business processes. SAP BPC solutions allow companies to restructure and computerize their financial processes. They offer a variety of benefits to businesses that want to integrate their consolidation and planning to allow them to focus on creating growth.
The use of SAP BPC allows organizations to spend more time on activities that grow the business. The solutions are designed to reduce the amount of time and effort that is put into closing books. All the business processes are streamlined and automated to offer shorter budget cycles and better regulatory compliance. This allows operations and finance managers to collaborate in one setting, which simplifies the budgeting process.
Information is vital for decision making within an organization and the SAP business planning and consolidation solutions can allow companies to make improved decision. An organization can base its decisions on the scenario planning and what-if investigation. When all the functions are managed from a single application, it makes it easy for stakeholders to see how external and internal factors influence business projects. This allows organizations to adapt to suit the changes, which helps to lower risk.
Organizations can also benefit from increased collaboration when they apply SAP BPC. The solutions enhance planning and accountability accuracy. These solutions offer a single view of all the operational and financial data. They also standardize the management processes and come up with what-if scenarios that organizations can use to make decisions. Management, statutory reporting, and consolidation functions are all provided from one application. Streamlining business functions helps to reduce risks.
SAP BPC allows companies to reduce their information technology needs. This is because all the budgeting and planning functionalities are carried out in one intuitive and easy to use application. Managers do not have to rely on manual consolidation using a variety of sources.
Employees can also increase their productivity with the use of an intuitive application like SAP BPC. The innovative office computerization tools and perceptive interface can help an organization to improve employee efficiency.
Who Can Use It?
SAP BPC is a comprehensive consolidation and planning software that offers versions for small, medium size, and large businesses. Organizations have to keep up with the changing business environment. Economic conditions are dynamic and businesses have to adapt in order to remain relevant. Conventional financial closing, planning, and budgeting tools and processes are not effective.
These processes and tools often produce outdated and inaccurate outcomes. SAP BPC has been designed to reduce risk and instill confidence in an organization. Financial departments are being put under pressure to come up with timely forecasts and plans and to shorten closing times and budget cycles. Organizations are also required to comply with all the industry and government regulations. All these requirements cannot be met using the traditional tools and processes. Implementing SAP Business Planning and Consolidation can help an organization to address these concerns.