Need for SAP BPC in the Global Market Scenario
If we assess the Business requirements of an organization, then following are the points to be considered:
• To improve and manage the Business performance of an organization, there is a need to build the future plan and budget, which are in tune with the strategic goals of a company. • There has to be an evaluation criterion for corporate planning as well, apart from that revising the existing business conditions, and hence trying to capture the pitfall arising out of the current business conditions. • Finally, ensuring an entire documentation of the audit as well as reporting and consolidation in strict compliance with the regulatory bodies such as International Financial Reporting Standards (IFRS).
Keeping in mind the aforementioned points there is a huge demand for a software that can entirely take care of all the aspects related to the business unit of an organization, that is the major reason why SAP BPC (Business Planning and Consolidation) has been regarded as a highly efficient ERP technology that can take care of the entire business needs of an organization.
SAP BPC application can reorganize the processes related to planning, budgeting and forecasting of a particular organization. BPC application takes care of the entire financial consolidation as well as the reporting aspects, thereby improving the intricacies related to the budget and thus greatly reducing the risks related to the particular business unit. SAP BPC also can reduce costs related to external auditing and financial implications arising thereof.
There are basically two versions available in SAP Business Planning and consolidation: (1)The first version of this technology is for Microsoft Platform which is especially designed for and managed by the business executives of a particular company. (2)The second version of this technology is for Netweaver which means it has been built on SAP Net weaver technology and again can also be used and managed by business executives.
Following are the benefits an organization can derive by successfully implementing SAP BPC:
• Improved agility: one can model new business specifications as per the needs of the corporation and hence come out with a feasible course of action which can greatly enhance the value of the particular corporation in terms of improving its overall business performance, and hence trying to reduce the risks that may arise in future.
• Reducing Series time: All the finance as well as non-finance managers of the company can restructure their processes by creating effective plans, perfect budgets and proper forecasting based on the future business needs. • Minimizing risks related to Business and compliance issues: using BPC application the data will be accurate as the data will be stored in high-end ad hoc reports for current as well as future data analysis. • Increase in the overall productivity of a corporation: By effectively using BPC application the risks and errors will be minimized and the productivity in terms of revenues will be improved to a greater extent.
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