Stream­line Cash Man­age­ment and Liq­uid­i­ty Fore­cast with SAP S/4HANA

Renee Fan — Direc­tor of Finan­cial Sys­tems and Con­trols, Freeport LNG

Freeport LNG is a pri­vate com­pa­ny. A sig­nif­i­cant por­tion of inter­nal and exter­nal report­ing are cash basis. Before the imple­men­ta­tion of SAP Cash Man­age­ment and liq­uid­i­ty fore­cast, many cash-rel­e­vant trans­ac­tions were record­ed in SAP via man­u­al jour­nal entry, and cash actu­als were con­vert­ed from GAAP (gen­er­al­ly accept­ed account­ing principles)-based account­ing. Process effi­cien­cy and pro­duc­tiv­i­ty were chal­lenged due to mas­sive man­u­al oper­a­tions on spreadsheets.

Dur­ing this web­cast, Renee Fan will give a pre­view of her 2019 Best Prac­tices for Oil & Gas ses­sion on the new­ly imple­ment­ed cash func­tion­al­i­ty that intro­duces straight-through pro­cess­ing and trans­forms the trea­sury man­age­ment sys­tem, using SAP S/4HANA as a side-car work­sta­tion. Finance pro­fes­sion­als are rede­ployed from man­u­al tasks to val­ue-added analy­sis and the sys­tem is now able to gen­er­ate cash-basis reports with con­sis­tent and reli­able sys­tem data, allow­ing the com­pa­ny to share infor­ma­tion in a more secure and effec­tive manner.

Key take­aways:

• Sig­nif­i­cant time and cost reduc­tion asso­ci­at­ed with man­u­al operations
• Sup­port real-time report­ing with reli­able and con­sis­tent sys­tem data
• Improved secu­ri­ty and con­trols includ­ing fraud risk reduction