Consolidation Extension for SAP Analytics Cloud (SAC)
Prepackaged & ready to deploy comprehensive consolidation solution that is built and runs natively on SAP Analytics Cloud, allowing business users to automate the statutory and managerial consolidation process.
The Consolidation Extension for SAP Analytics Cloud eliminates the complexities and inefficiencies of managing two separate systems; the first for Consolidation (such as SAP Group Reporting or BPC), and the second system for Business intelligence and Planning, such as SAP Analytics Cloud.
This solution is designed to bring all the functionalities, features and automations required to conduct the financial consolidation cycle, in the most streamlined and simplified manner, directly on SAP Analytics Cloud.
Automate the Consolidation Process Natively on SAP Analytics Cloud
- Import from the SAP Content Network, Configure and Execute!
Beyond Group Reporting & SAP BPC
- Multiple methods of consolidation
- Integrates with any source system
- Comprehensive currency translations
- Detailed group ownership management
- Automated Eliminations and Adjustments
- Automated Scope & ownership change treatment
- IFRS/GAAP compliant Consolidation
- Simulations, variances and what/if analysis
- Streamlined & Guided Consolidation process
- Covering Actuals, Forecasts, Budgets and plans
- No additional licenses, applications or hardware
- Scalable Functionalities with On Demand innovations
Transform SAP Analytics Cloud into a
Single Source of Truth
The solution consists of the below steps, which can be executed individually or through one Data Action Trigger:
Click on the icons below to know more about each step in the consolidation process
Maximize the Return on Investment & RISE beyond the traditional Consolidation Solutions by adopting the Consolidation Extension for SAP Analytics Cloud
Leverage the powerful combination of consolidation capabilities and augmented analytics with predictive AI to gain unparalleled insights into your financial performance. Discover meaningful trends, uncover patterns, correlations, outliers, and unlock valuable opportunities by harnessing the comprehensive features of our solution.
- Business Intelligence Platform
- Enterprise Planning Features
- Augmented Analytics
- Artificial Intelligence
- IFRS/GAAP Consolidation
- No Additional Licenses
- No Additional Hardware
- No Code/Low Code
- Import data and run same day
- On-demand innovation
Our pre-built consolidation solution is ready for deployment
By adopting the Consolidation Extension for SAP Analytics Cloud solution, companies realize significant reduction in licensing and implementation cost, hardware and software maintenance, enhance visibility, faster period close, and higher adoption rates.
The solution is flexible and scalable, which allows it to adapt to changing market demands and evolving business requirements. It can scale seamlessly without any wait time for SAP releases or additional costs, thanks to its use of innovative SAP BTP technology.
The consolidation process covers the following areas:
- Uploading the trial balances of all your companies
- Generating the opening balances of your balance sheet
- Calculating the net variation of your balance sheet movements and other specific flows
- Preparing and executing detailed Currency Conversion (which goes beyond the SAP Analytics cloud native capabilities whereas we convert per flow and calculate CTA; also the ability to conduct currency translation based on global rates or entity specific rates)
- Managing your group ownership structure
- Running the intercompany matching to reconcile differences
- Executing the consolidation process to generate the consolidated financial statements
- Entry of adjustments for specific audit trail (type – manual) to impact the standalone or consolidated balances
Benefits of Adopting the Consolidation Extension for SAP Analytics Cloud
Unified
One solution that provides Statutory & Managerial Consolidation, Planning, Forecasting, budgeting, Augmented AI & Business Intelligence.
Innovative
Develop the needed tools and functionalities directly through SAP Analytics Designer & the Business Technology Platform; no waiting time for SAP to have new release.
Automated
Providing live & load data options, automation of the full consolidation cycle & access to smart insights with advanced analytics; least intervention for highest output.
Less Hardware
One cloud bases tenant that can conduct Consolidation, Forecasting, Budgeting, Planning, Augmented AI & all the business intelligence needs with live & load data.
Less Applications
With the Consolidation extension for SAP Analytics Cloud, you will no longer need SAP BPC or group reporting & SAP BI. Reduce licensing, maintenance & upkeep costs.
Less integration
Eliminate the need of moving data between the different applications & tenants. The Consolidation Extension for SAC is a unified solution that provides a single source of truth.
A Single and Scalable Source of Truth
The landing page is completely customizable to adopt the customer’s theme, business requirements and individual user’s preferences with a Unified User Experience.
Don’t let the complexities of managing separate systems hold you back.
Embrace the future of financial management with our unified consolidation, forecasting, budgeting, and planning system. Simplify your processes, optimize your resources, and elevate your financial operations to new heights.
Why adopt InsightCubes Consolidation Extension for SAP Analytics Cloud
Without an Automated Consolidation Solution
- Manual Data Collection: Heavy reliance on gathering data manually from various sources.
- Scattered Excel Sheets: Data is dispersed across multiple Excel files, leading to disorganization.
- Time-Consuming Reconciliation: Extensive manual effort required for reconciling data, especially for intercompany transactions.
- Manual Intercompany Reconciliation: Significant workload in manually reconciling transactions between subsidiaries.
- Difficult Historical Retrieval: Challenges in retrieving historical data efficiently due to disorganized record-keeping.
- No Data Audit Trails and Logs: Lack of tracking changes in data, leading to accountability issues.
- Complex Manual Currency Conversions: Handling foreign currency conversions without automated assistance.
- Inefficient Ownership Management: Manual methods for tracking and managing changes in ownership structures.
- Adapting to Changing Reporting Requirements: Struggling to keep up with evolving reporting standards and requirements due to manual processes.
- Difficulty in resynthesizing Data for Analytics: Inability to effectively bring together data sets to generate new meaningful analytics and insights.
- Increased Error Margin: Manual data collection is prone to human error, leading to inaccuracies in financial reports.
- Inefficiency and Data Loss Risk: Using scattered Excel sheets can result in lost or outdated data, hindering analysis.
- Prolonged Financial Close Process: Time-consuming reconciliation processes delay financial reporting and decision-making.
- Overwhelming Workload: Manual intercompany reconciliation demands significant time and resources, impacting operational efficiency.
- Challenges in Audit and Compliance: Difficulty in historical data retrieval complicates audits and compliance processes.
- Lack of Transparency and Accountability: Absence of data audit trails and logs can lead to unclear data lineage and responsibility.
- Risk of Currency Miscalculation: Manual currency conversions increase the risk of financial inaccuracies due to fluctuating exchange rates.
- Complicated Handling of Mergers and Acquisitions: Inefficient management of ownership changes can lead to errors and delays in financial consolidation.
- Inflexibility in Reporting: Inability to quickly adapt to new reporting requirements can lead to non-compliance and outdated insights.
- Limited Analytical Scalability: Difficulty in recomposing data for new analytics limits the ability to derive strategic insights and make informed decisions.
With the Consolidation Extension for SAP Analytics Cloud
- Automated Data Integration: Efficiently import and integrate data from diverse sources automatically.
- Centralized Data Management: Consolidate all financial data into a unified platform, replacing scattered Excel sheets.
- Streamlined Reconciliation Processes: Automate the reconciliation of data, especially for complex intercompany transactions.
- Advanced Intercompany Reconciliation Tools: Implement specialized tools for automating the heavy workload of intercompany reconciliation.
- Efficient Historical Data Retrieval: Enable easy access and retrieval of historical financial data for analysis and reporting.
- Robust Data Audit and Tracking: Incorporate data audit trails and logs for enhanced transparency and accountability.
- Automated Currency Conversion and Analysis: Facilitate accurate and automated foreign currency conversions and related analytics.
- Dynamic Ownership Management: Implement tools for managing and adjusting ownership structures easily and efficiently.
- Adaptability to Changing Reporting Requirements: Ensure the system is flexible to adapt to evolving reporting standards and requirements.
- Advanced Analytics and Insight Generation: Leverage the platform for deeper financial analytics and insights, bringing disparate data together cohesively.
- Accuracy and Reliability: Significantly reduce errors and increase the reliability of financial reports with automated data integration.
- Operational Efficiency: Save time and resources by streamlining reconciliation processes and centralizing data management.
- Rapid Financial Closing: Accelerate the financial closing process with efficient reconciliation and automated systems.
- Enhanced Compliance and Audit Readiness: Improve compliance and audit processes with easy access to historical data and robust data tracking.
- Effective Risk Management: Minimize the risks associated with manual currency conversions and ownership changes.
- Strategic Decision Making: Empower decision-makers with advanced analytics and insights derived from comprehensive and accurate financial data.
- Flexibility in Reporting: Quickly adapt to changing reporting requirements, maintaining up-to-date and relevant financial reports.
- Improved Intercompany Harmony: Achieve smoother intercompany reconciliations, enhancing overall corporate financial integrity.
- Resource Optimization: Redirect resources from manual tasks to more strategic activities, improving overall business productivity.
- Forward-Looking Insights: Utilize the platform for predictive analytics and scenario planning, aiding in future-focused financial strategies.
WHAT’S INCLUDED
- Cloud Consolidation Model
- Intercompany Matching Model
- Ownership Model
- Rates Model
- Journals
Analytic applications:
20+ stories for Standalone and Consolidated reports, input templates for Forecast and plan, variance analysis (including charts)
- Advanced formulas, data action triggers, multi action
- Calendar
- Validations rules
- Custom widgets
Preconfigured unified web interface with Menu and quick access to every activity group (Landing Page Dashboard)
SOLUTION PREREQUISITES
- SAP Analytics Cloud Planning Licenses
- SAP Analytics Cloud connector and cloud agent
SOLUTION DEPLOYMENT
End to end project life cycle services which includes:
- Detailed scoping and fit analysis
- Blueprinting
- Standard or custom implementation
- Knowledge transfer and role based training
- Support with maintenance and upgrades
FAQ
Yes, SAP Analytics Cloud can become a consolidation solution only by acquiring InsightCubes consolidation extension for SAP Analytics Cloud.
InsightCubes consolidation extension for SAP Analytics Cloud enables consolidation for different methods (Holding, Full, Proportionate and Equity) and for as many consolidation scopes as required. Click here to know more.
Yes, with InsightCubes consolidation extension for SAP Analytics Cloud the process of Intercompany Matching and booking can be executed before and/or after the consolidation process (basically, after loading the standalone data into the Cloud Consolidation model on SAP Analytics Cloud)
Yes, with InsightCubes consolidation extension for SAP Analytics Cloud you can create Consolidation Scopes, map relationships between the scopes, add entities to scopes, assign the entities’ ownership methods and percentages – hence, manage ownership structures of your group with ease.
Yes, using InsightCubes consolidation extension for SAP Analytics Cloud, you can prepare and execute detailed Currency Conversion (which goes beyond the SAP Analytics cloud native capabilities whereas we convert per flow and calculate CTA; also the ability to conduct currency translation based on global rates or entity specific rates)
Yes, InsightCubes journal interface in SAP Analytics Cloud was built using SAP Analytics Designer, allowing entry of adjustments for specific audit trail (type – manual) to impact the standalone or consolidated balances. These debit and credit balances can be manually entered or uploaded from an excel file. Each journal can be saved, posted/unposted, locked/unlocked and deleted. This provides the full set of functionalities to manage journal entries among subsidiaries and their respective holding companies.