Finance transformation vs SAP S/4HANA Finance

Many companies often don’t look forward to spending much time on transaction-related activities. They also spend lesser time when they have to draw better insights from their business. How do you implement automation in your workforce to improve this current scenario? Is it really necessary? 

Before pondering it, you must remember that you can’t fix any broken process with automation. It is meant closely to improve your overall process efficiency. Before you decide on your automation strategy, you must re-analyze it to ensure it caters to all your needs. 

How does the workforce view automation?  

We conducted a poll to understand the importance of automation in businesses. Around 73% of the workforce believe that when they have to stay away from those yawn-inducing tasks, they can utilize technologies such as RPA. See it for yourself!  

How to sort out redundant, boring work in an office?  

You can see how people vote. Learn more  

Procrastinate and ignore- 18%  

Use technologies like RPA – 73%  

Delegate it to your team – 9% 

Isn’t that quite fascinating? More than procrastinating and delegating their tasks, many employees believe in the importance of automating it so that they remain in the goodwill of their employer, cut costs and reduce their workload. 

With a remote workforce in practice, many companies have confidently or reluctantly allowed their employees to work remotely. 

In this case, you should consider automating vital finance and accounting functions along with quarterly reviews and year-end audits. When an employee cannot monitor these in person, it can lead to trust factors, true. That’s why you need the right tools, technology, and skills. 

Some of the most innovative ways how you can make the best out of SAP S/4 HANA Finance transformation:  

• Improve workforce safety measures by speeding up your remote work experience  
• Get more clarity on annual budgeting  
• Promote more physical distancing through work reconfiguration  
• Reduce your overall exposure by changing shifts and tracking down the financial changes  
• Hasten up automation in the finance department in areas such as invoice creation, accounts payables, and receivables  
• Reduce your real-estate footprint  
• Track your employee location. Provide incentives and benefits to employees in affected areas remotely  
• Standardize all your ERP systems by ensuring better transaction processing  
• A void dependence on email and spreadsheets to manage reporting processes and financial planning  
• implement your overall rolling forecasts while updating budget assumptions  
• Empower all your managers with advanced self-service management reporting  
• Accelerate your financial close and reporting  
• Leverage data to support LOB executives.