Accelerated Financial Close using SAP S/4 HANA

Book excerpt: How can SAP S/4 HANA and a set of complementing systems help an organisation close the books faster? This book is meant for technology strategists, solution architects, project managers, SAP finance consultants, finance practitioners, and IT consultants. The financial closing process is a behemoth of a process, and it creates enormous strain on the resources of an organisation. There is a significant responsibility on each of the different departments like business, finance, information technology and any service partners to plan, orchestrate and execute the activities required for periodic financial closing. However, such a process can be significantly automated using SAP systems like S/4 HANA Finance and Group Reporting, Disclosure Management, Analytics Cloud. There are intelligent tools provided such as SAP Financial Closing Cockpit, Advanced Financial Close and partner solutions like Blackline Account Substantiation and Automation that can monitor and orchestrate part or whole of the closing process.