Responding to the constant struggle of corporations to complete a timely and reliable financial period-end close, SAP and Redwood have collaborated to provide a world-class closing solution tailored for SAP ERP Financials customers.

The SAP Financial Closing cockpit incorporates job scheduling technology jointly developed by SAP and Redwood Software. It enables customers to achieve a fast, reliable close by managing and monitoring close processes across the entire enterprise.

A Powerful Improvement

While a fast close is the focal point, the closing cockpit also addresses deeper aspects of the financial closing process:

• Reliability: Having a robust closing process capable of generating reliable information for reporting and auditing purposes is the cornerstone of every world-class financial closing process.
• Speed: Reducing the number of days to close facilitates additional time for analysis of results and variance reporting.
• Efficiency: The cost effective use of manpower, systems and processes is critical for working within both resource and budgetary constraints.
• Compliance: Monitoring of internal controls is essential for generating accurate financial reporting and complying with various regulatory guidelines.

A Reliable and Transparent Financial Close

SAP Financial Closing cockpit can shorten your financial period-end close by up to 50%, provide more transparency and reliability in period-end closes, and give senior management more time for decision-making based on financial information they can trust.