NEW FOR GROW with SAP: ADD-ON PACKAGES FOR FINANCE AND HR FUNCTIONS

In today's business market, a company's growth relies not only on the competitive edge of its products and services but also on the management and optimization of internal resources. Therefore, the Human Resources and Finance departments play a crucial role in building a foundation for sustainable success. In the first half of 2024, the comprehensive enterprise management solution 𝐆𝐑𝐎𝐖 𝐰𝐢𝐭𝐡 𝐒𝐀𝐏 introduced uniquely customized add-on packages to meet the needs of Finance and HR functions. By integrating cloud solutions with the latest services into a strategic toolkit, these new add-on packages will help address the challenges and opportunities businesses face, promoting increasingly efficient and sustainable operations.

Digital Banking Package for GROW with SAP

The Digital Banking Package for GROW with SAP opens the door for banks, financial institutions, and payment service providers to connect directly with SAP S/4HANA Cloud Public Edition through a single, centralized platform. The package provides a multi-bank, digital channel between ERP systems and banks with optional embedded SWIFT connectivity. Integrated payment and statement processes are also available, bringing more comprehensive visibility across the payment value chain. 

With the Digital Banking Package, businesses not only connect seamlessly with financial and payment services but also enhance their procurement processes and compliance with PCI DSS standards. Using cloud services in credit card processing, incoming and outgoing payments, and API-based instance balances helps minimize cash reconciliation efforts while optimizing IT costs. This not only provides flexibility in choosing suppliers but also enhances the efficiency and sustainability of businesses in financial management.

GROW with SAP Advanced Treasury and Risk Management Package

The Advanced Treasury and Risk Management Package of GROW with SAP enables fund managers to invest confidently and mitigate financial risks while doing more with fewer resources. This add-on package offers a comprehensive solution to capture exposure data, classify and qualify risks, and trigger trade actions. Predefined connectivity and integration capabilities are available as well, connecting businesses to trading platforms and providers and supporting cash, investment, and risk processes in SAP S/4HANA Cloud Public Edition.   

The package  includes proven solutions, such as:

- Financial risk management

- Debt and investment management

-  Advanced treasury analytics and executive dashboards

- Hedge management and hedge accounting in compliance with IFRS and U.S.GAAP requirements.

- Smart trading using SAP Business Technology Platform and smooth integration with external trading platforms.

GROW with SAP Advanced Compliance Automation Package

With the Advanced Compliance Automation Package, businesses can address evolving regulatory and industry compliance requirements with greater ease and confidence, empowers finance teams to transform and standardize their processes globally while adhering to local standards efficiently. Furthermore, the package helps meet e-invoicing mandates while keeping order-to-cash processes efficient and internal controls adequate. 

The advanced compliance automation package features proven compliance offerings, including:

- SAP Document and Reporting Compliance solutions to fulfill local compliance mandates and automate compliance processes.

- SAP Risk and Assurance Management application to centrally manage internal controls over financial reporting, improving performance and protecting core data and processes.

GROW with SAP, Core HR Add-on 

The Core HR Add-on for GROW with SAP contains the SAP SuccessFactors Employee Central solution, allowing organizations to use a common data model for HR and finance, marking a significant step in providing optimal solutions for businesses. Built on an advanced cloud platform and integrating the latest technological advancements such as A.I, this HR system not only serves as an accurate and reliable data source but also brings significant benefits in integrating and optimizing daily business workflows:

- Improve people and financial data quality with pre-designed integration.

- Drive more effective workforce planning with holistic real-time insights.

- Engage users with consistent experiences across HR and financial applications.

- Get up and running quickly with pre-configured processes and best practices.

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The new add-on packages from GROW with SAP not only enhance financial and HR operations but also lay a solid foundation for future success. With advanced and flexible features, these updates help optimize workflows, improve service quality, and create a more efficient working environment. Businesses need deep insights and the strength to confidently embrace innovations, gain competitive advantages, and achieve ongoing growth in an ever-evolving economy.

With pioneering capabilities in embracing new technology waves, along with 16 years of experience in implementing reputable and quality ERP solutions, CMC Consulting proudly asserts its position in consulting and implementing comprehensive management solutions for domestic and international businesses. Contact us now to stay updated with leading technology trends here.

Source: https://news.sap.com/2024/04/grow-with-sap-add-on-packages-expand-cloud-erp-value/

Author: Eric van Rossum - Chief Marketing and Solutions Officer for Cloud ERP at SAP.