Future-Proofing Finance: How the SAP PaPM Accounting Rules Engine can drive competitive advantage
msg global solutions
Our mission is to deliver solutions that improve operational efficiency and decision-making capabilities.
Finance is changing for the better. When I started my first Finance job as a fresh-faced graduate in a badly-fitting suit back in 2006, the ERP systems I worked with were ugly, slow, and required a master's in computing to navigate. We still worked with a surprising amount of paper, and I spent many hours, weeks, and months ticking and bashing numbers from one printout (or spreadsheet) to another.
Thankfully, today, both my suits and our Finance systems are better tailored to what we actually need. Today's ERP systems are generally more user-friendly, but Finance still has some catching up to do. We’re struggling to keep up with the tidal wave of data that has been coming our way for quite some time.
Faced with a deluge of data, many Finance departments' initial focus was to take the bare minimum needed to get the right postings in the general ledger. But our needs have grown. Now, we need to know how sustainable our business is, what our greenhouse gas emissions are, whether our tax liability aligns with BEPS requirements, and our financial result under the many different GAAPs that could well apply to a single multinational.
So, how do we ride the wave??
To ride the wave, we need to harness the power of this data in a flexible, scalable, but, of course, auditable solution.?Enter SAP PaPM’s Accounting Rules Engine, the Cloud-based solution exclusively available on the SAP Profitability and Performance Management Cloud Universal Model.
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Takeoff with SAP PaPM's Accounting Rules Engine
The Accounting Rules Engine is sample content included within the Profitability and Performance Management Cloud Universal Model subscription. It can unlock the power of data by enabling customers...
Read the full article on our webpage at the following link: Future-Proofing Finance: How the PaPM Accounting Rules Engine can drive competitive advantage (msg-global.com).
The beauty of the solution goes without saying… but I could do without the memories of the squeaks and squeals of a dial up modem, glad we no longer need that! ??
Director, BU Finance at msg Global Solutions
6 个月Thanks Rachel Thomas, this was a great post! It perfectly captures the challenges that so many of us in finance face today. We're drowning in data, and traditional systems just aren't cutting it anymore. The idea of a cloud-native solution like the PaPM Accounting Rules Engine is really exciting. The ability to centralize and standardize our data while still having the flexibility for complex calculations is a game-changer. Saying goodbye to the never-ending spreadsheets nightmare would be a dream come true! I'm definitely excited in learning more about how this can help our customers gain a competitive edge in the coming weeks. #FinanceTransformation #msggglobal
Principal Consultant at msg global solutions
6 个月Great article Rachel!