To provide complete financial management capabilities, today’s organizations need access to integrated applications that can be used from early planning and forecasting to reporting outcomes. Throughout this cycle, stakeholders demand real-time analytics to identify patterns, analyze anomalies, and anticipate results rapidly.
In recent times, many FP& A solutions have successfully and easily integrated with SAP systems. This enables a range of new and advanced capabilities. More companies opt for integrated platforms that help provide a uniform user experience, integrated analytics, and simplified system deployment and management across their organization.
This article will look into the benefits of integrating Performance Canvas Financials, a stand-alone financial reporting, and budgeting software in the cloud, with SAP.
Seamless Process and Data Integration
SAP is an integrated software system (it combines the many software systems used by an individual firm) that enables the integration of all a business’s operations (modules) into a single system by resolving data exchange issues between departments in real-time.
By integrating financial reporting and analysis software like Performance Canvas with SAP ERP systems, companies can attain a more comprehensive, responsive, and adaptive financial management at a reduced cost and less risk.
SAP ERP systems support the free flow of business processes, master data, transactional data, and workflow between its components by supplying the connection in the integrated platform. When purchasing Performance Canvas financials to do financial reporting, budgeting, forecasting, and consolidation -the free flow of data from your ERP system to your FP&A solution become seamless. It becomes easier to make comparisons of figures, perform deeper tracing and investigation, and you can have a single source of truth for the entire organization.
By allowing Performance Canvas to integrate with your ERP system, you can start by following the mapping of data in your ERP system and then finetuning them. Alternatively, if you are unhappy with how things are mapped in SAP today, you have the option to do it differently within Performance Canvas.
It is more user-friendly due to its industry-specific solutions.
Users can benefit from having an integrated solution in one platform. It can be customized to meet the unique requirements of any organization. With the SAP-integrated platform, users will appreciate a consistent experience throughout software components and seamless interaction between components, simplifying and intuitively integrating their duties and decreasing the danger of failing to adapt to new solutions.
Performance Canvas is built to address specific pain points identified in the industries it serves. For example, Performance Canvas Financials today is used by many manufacturing companies, healthcare/hospitality companies, and banks. Certain reports found within Performance Canvas or input sheets are very specific to how certain industries operate. You can take advantage of these so that you have a solution that integrates with your ERP system and understands the industry you are in.
Provides a Better User Experience for All
Deploying integrated SAP ERP – FP&A systems helps companies mitigate the challenges of educating users and convincing them to utilize the new capabilities. With minimal user uptake, the investment is rendered insignificant. Those already familiar with another SAP program will notice that Performance Canvas is very user-friendly. It is built in a way that finance or business users will not have to worry about coding or any technical aspect of the solution. They only need to focus on their finance tasks.
Performance Canvas carries a promise to its users that all they will see are tools that will allow them to display and analyze data, develop budgets, or create consolidated financial statements quicker and more accurately.
Overall, financial reporting and analysis software integrated with SAP unifies all business operations and transforms them into a seamless functional chain.
It provides better security
Managing user security is a demanding responsibility in any business, but it becomes more difficult in big firms. An integrated SAP ERP – FP&A system simplifies user security of all of its products to assist enterprises in maintaining robust security, making it easy for IT teams to manage this vital responsibility in a centralized profile.
Performance Canvas Financials has its own set of security measures and its own way of managing security, approvals, and role-based access separate from that of SAP. This adds another layer of protection for your finance figures.
Why Choose Performance Canvas
Performance Canvas Financials is an FP&A tool that can seamlessly integrate with existing SAP ERP systems. Performance Canvas is a scalable reporting, budgeting, forecasting, and consolidation application that integrates with on-premise or cloud-based enterprise resource planning systems to manage business performance.
Today, we have several customers that are using SAP or are planning to shift to SAP in the future but are using Performance Canvas to bridge that financial gap they have as they transition.
Curious about Performance Canvas? Contact us today so we can show you a demo of our reporting, budgeting, forecasting, and consolidation abilities against SAP systems.