SAP S/4HANA Cloud 1611 was made available in November 2016. Sap added many innovative features based on customer and partner feedback. This blog summarizes the insights and highlights at a glance for SAP S/4HANA Cloud 1611.
SAP S/4HANA Finance Cloud
SAP S/4HANA Finance Cloud 1611, offers 40 new items and provides reporting capabilities for both external financial disclosures and real-time controlling to enable intelligent business decisions. Processes can run seamlessly across cloud solutions to connect finance processes to other operations, including procurement, sales, and human resources, enabling customers to streamline their entire financial value chain. In this article, we wanted to highlight few of the key new features available.
This graph illustrates how SAP S/4 Hanna Integrate with the SAP Suite of Products:
Sven Denecken, Senior Vice President of SAP S/4HANA Product Management, provides us with insights into the scope and benefits of SAP S/4HANA Finance Cloud 1611 update in the following Video:
Cash and Bank Account Management
This new feature allows you to monitor your cash position and centralizes management of bank accounts. Users can take advantage of a centralized management of bank account master data as well as the approval and yearly review processes. This release also includes the capacity to create, edit and close bank accounts.
You can monitor your bank transfers and statements, cash polling, and cash reports.
Extensibility for Finance with SAP Hana Cloud Platform
User can leverage the delivered end to end integrations to extend your core finance capabilities with SAP RealSpend solution and the SAP Financial Statement Insights web application. You can with ease create user specific budgets. Using SAP Financial Statement Insights you can visualize profit and loss account group balances over time with daily granularity.
You can compare the ratio of planned and actual costs on a project with the ratio of planned and actual revenue to determine whether the project costs can be capitalized as work in process You can also settle projects to capitalize the balance from the results analysis and obtain detailed data in the results analysis for enterprise controlling.
Accounts Receivable Accounting
Monitoring of receivables
You can manage receivables, display customer balances, and process individual customer items.
Accounts Payable Accounting
Analysis of payments to suppliers
You use this feature to view information about payments to suppliers. You can check the overdue payable amount and the future payable amount. If you identify negative trends in the payable amount, you can notify the responsible persons to take action.
Management of cash discounts
You use this feature to forecast the available cash discounts and to monitor the cash discount utilization in your responsible area. You can find out where you need to make better use of cash discounts in order to avoid cash discount loss in the future.
Interested in learning more about how you can take advantage of a SAP S/4HANA solution or are you looking for some help on defining your Cloud strategy to support your digital transformation? The Ataway SAP experts team is here to help you and make your digital transformation a success. Consider talking to one of our local Ataway offices. Ataway has worked on several SAP S/4HANA implementations and can help you. Consult with Ataway’s team of experts today to learn more or send us an email: firstname.lastname@example.org.