The international situation in financial markets “altered the game” for financial services companies, more so than in other markets. In an economic environment that provides limited visibility into income development and future demand, finance functions are focusing on activities that assist their companies manage efficiency day to day. In response to the increasingly harsh external environment, finance is turning its focus inward, spending even more of its time on cost decrease, performance management, and profitability analysis. In addition, regulatory oversight has become even more stringent, requiring financial services business to produce brand-new forecasts more frequently, faster, and with new levels of information and analysis.
If finance executives in the financial services market had the ability to invest more time on offering analysis of forecast results and making referrals to the business it would assist their companies satisfy efficiency targets. SAP Â® Business Planning and Consolidation can help companies regularly manage performance, enabling them to end up being more agile and competitive by supplying alignment, visibility, and higher confidence. SAP BPC enables financial organizations to better forecast capital expense and budgets more effectively.
Financial Services companies can leverage SAP BPC to:
- Remove hours of manual inputs at start of month
- Lower time spent getting files prepared for next period
- Report on a section and line of work basis just and swiftly
- Produce dynamic work documents and statements
- Create business statements at a combined, stand alone or contribution basis
- Develop pooled financial statements
- Create expenditure allowance process
- Lower close procedure to 5 days from 20
- Save 10 % in headcount utilized to gather information
- Conserves 500 guy hours in 6-month duration
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