Sponsored by: OpenText
Corporate Finance is the combination of direct financial staff functions such as the creation of a journal entry, and indirect operational transactions such as maintenance activity. In Finance, much of the supporting documentation for both direct and indirect transactions is still paper-based. Some studies say approximately 80% of documentation is paper. Whether financial or operational staff, the time expended to review for accuracy and completeness is significant and open to errors in financial postings.
In order to implement a successful digital financial transformation, a digital content platform is mandatory. A successful digital platform must address the ability to digitize, utilize, deliver and control content. The SAP landscape has changed from single monolithic applications to distributed, purposeful applications in a hybrid architecture. These applications related to direct and indirect financial transactions are based on content transformed into information.
Digitization of information eliminates manual entry thereby improving productivity, digital utilization ensures optimal processing, digital delivery provides intelligent facts from across the enterprise and control reduces the risk of errors or fraud. Within an intelligent enterprise based on a digital content platform - financial records and corresponding decision based are quick, accurate, consistent and risk-averse.
In the future, with more connected applications and devices, content will change from simple documents to componentized and rich content delivered in real time. Utilization of a digital content platform supports SAP customers transition to intelligent and connected enterprises.
In this session, learn how OpenText and SAP working together deliver a digital content platform that drives direct and indirect financial value creation in the intelligent enterprise!
Tom Walker, Senior Program Manager, SAP Finance Center of Excellence, OpenText