By Shak Akhtar, SVP Finance Automation/Customer Experience Officer, Redwood Software
In this episode from our series of SAP-focused finance automation podcasts, we discuss why it’s a challenge to manage finance process dependencies in SAP and ensure tasks are completed in the correct sequence.
In the podcast, writer and editor Andy McCue talks to Adrian Li, a finance transformation expert with more than 20 years’ experience in the design, build and running of SAP ERP in both large and small organizations across many industry sectors.
Li explains how the failure to manage dependencies within SAP can have a huge impact on finance processes such as asset depreciation and, in turn, the period-end close. “If you don’t update the asset register and close that down before you run depreciation, the depreciation figures are going to be inaccurate,” he says. “Once you’ve discovered that something has been done out of sequence there is a rework aspect there. So there is more effort, particularly at month-end, which is time-challenged anyway.”
Listen to the full podcast to find out:
- Why it is a challenge to manage dependencies for finance processes in SAP
- How failing to manage dependencies effectively can result in rework, more effort and misstatement of results
- How organizations try to work around the gaps in SAP to manage dependencies in their finance processes today
- How task management and automation can help manage dependencies, reduce latency and ensure tasks are executed in sequence.
Li goes on to explain how customizing SAP and using third-party add-ons isn’t enough to plug these automation gaps. “You need an overarching end-to-end task management capability, which brings some level of automation of not only the management of those dependencies but also in an ideal world the execution of some of those tasks as well.”
Find out how to tackle the finance process automation gaps and manage dependencies in your SAP system. Listen to the Redwood Finance Podcast now.