Challenge
A major player, a leader in the market for home and personal care products, with offices both in Italy and abroad, expressed the need to automate its consolidation process to prepare consolidated statutory financial statements in accordance with ITA GAAP national accounting standards. The goal was to implement the SAP Group Reporting system to replace the previous manual process managed in Microsoft Excel.
Solution
As part of a program of evolution of its SAP S/4HANA application platform, the Client expressed the need to govern the consolidation process in a structured and efficient way, in order to optimize procedures and guarantee the consistency of the final consolidation data. The choice therefore fell on SAP Group Reporting, which is natively integrated into S/4HANA from which it inherits master data and data and guarantees high performance in terms of data processing time.
With the adoption of SAP Group Reporting, the Group was able to structure the process of preparing the consolidated statutory financial statements in a homogeneous way, unifying the information needs of Group reporting in a single tool. Results have been achieved in terms of less time consuming in the process of preparing the Consolidated Disclosure, whose quantitative information is historicized, easily usable and navigable.
Results
- Convergence of the statutory consolidation process into a single environment and reference tool
- Optimizing the time of the closure process, ensuring higher data quality
- Data and Process Certification and Data Audit
- Enhanced integration between management reporting and ordinary accounting, ensured by sharing master data between the accounting model and the consolidated model
Quote
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