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Financial Master Data Governance for SAP Business Suite

Financial Master Data Governance for SAP Business Suite

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Published by AnkushBhardwaj

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Published by: AnkushBhardwaj on Feb 27, 2012
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02/23/2014

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SAP Solution Brie
SAP Businss SuitSAP Mastr Data GovrnancIn your ntrpris it is important to pr-orm accurat rconciiations and groupcoss in a timy mannr. You musticinty support ntrpris-wid com-pianc with such rguatory standardsand ga rquirmnts as IntrnationaFinancia Rporting Standards (IFRS),th Sarbans-Oxy Act, and gnrayaccptd accounting princips (GAAP).Your rports to stakhodrs must bprcis and timy. Th quaity o yourinancia mastr data must b high, butto improv its quaity you must invov your stakhodrs ary in th rviwprocss. Ths goas ar within rach whn you stabish a sing sourc otruth or inancia mastr data. Th onyqustion you hav to worry about is: how?I your approach to inancia mastr datamanagmnt is manua or homgrown –prhaps simpy a spradsht – main-taining consistnt data across th ntr-pris and govrning that data is goingto b a probm. You mor than ikyxprinc srious impdimnts togood govrnanc, athough your sta works hard to crat and maintain inan-cia mastr data manuay across svrasotwar andscaps and a varity oappications. You hav no car audittrai. Nor do you hav a cary struc-turd chang-approva procss or yourinancia mastr data. What’s mor,spradsht-basd and homgrownsoutions usuay hav no procss ormanaging tim-dpndnt vrsionso th mastr data.Without an intgratd approach tontrpris-wid data maintnanc andgovrnanc, th rturn or your orts wi probaby b:
Inconsistnt inancia mastr data
Manua rconciiation o data inprparation or month-nd, quartry,and yar-nd cosings
Uncrtainty about th prormanco your subsidiaris
Diicuty compying with industry andgovrnmnt rguationsYou ar not th ony on wrsting with ths srious stbacks. Thyar systmic to corporat accountingprormd or a corporat group –comprisd o mutip ntitis – whnsupport or mastr data govrnanc isacking. Data inconsistncy and xpn-siv manua rwork o inancia data arth rsuts you can xpct.
Management o Financial MasterData in SAP® Business Suite
SAP ors a soution that supportsinancia mastr data govrnanc orSAP® Businss Suit sotwar. Thappication nabs th intgration o your corporat inancia mastr data with your subsidiaris’ inancia mastrdata. It aciitats th cntra maint-nanc o inancia mastr data usd in your corporat consoidation chart oaccounts, gnra dgr accounts, costmnts, inancia rporting structurs,and organizationa units – incuding“group companis,” proit cntrs, andcost cntrs. Th appication supportsth automatic distribution o inanciamastr data to your subsidiaris, and itass maintnanc o inancia mastr
Whn mastr data is main-taind manuay or acrossmutip appications, inaccu-racis can dvop that hin-dr inancia coss, riabrporting, and data govr-nanc. With th SAP® Mas-tr Data Govrnanc appi-cation, you can cntraymaintain th inancia mastrdata usd in SAP BusinssSuit sotwar.
Financial Master Data Gover-nance For saP® Business suite
CONTROl DATA CReATION, QUAlITY, AND CONSISTeNCY
 
Tim-Dpndnt and Priod-DpndntVrsioningTo manag inancia data comptntyand produc accurat, unambiguousrports, you must b ab to vrsionit. You must maintain th chart oaccounts or th irst quartr and orth scond quartr simutanousy without any risk o conusion. SAPMastr Data Govrnanc supports vrsioning, which aows you to achivtransparncy o your inancia data. Itaso supports tracabiity o th data.data or your subsidiaris. Th sotwarcan track a changs mad to mastrdata through auditab govrnanc pro-csss that compy with th Sarbans-Oxy Act. In addition, th appicationprovids xib approva workowsthat xpdit and provid contro ovrth chang-rqust procss. It asosupports mandatory approva procss-s whr at ast two dirnt popmust approv actions.Th sotwar can nab mappingsbtwn consoidation and oprationacharts o accounts. Using rpicationmthods such as ntrpris srvicsand Ale, th sotwar can distributchangs to othr appications runningthroughout your company, incudingth SAP eRP appication, consoidationappications, and non-SAP sotwar.You can xtract mastr data and importit into th SAP NtWavr® BusinssWarhous componnt and upoad anddownoad th data to othr appications.
Integrated Financial Master DataGovernance
Th SAP sotwar ors a numbro aturs that automat th tasks omaintaining and distributing your inan-cia mastr data, intgrating th datamor tighty, and incrasing data con-sistncy across th ntrpris.Fxib Data ModTh xib data mod supportd bySAP Mastr Data Govrnanc aows you to maintain your inancia data cn-tray. A data mod or standard inan-cia objcts usd in SAP sotwar isincudd, which can b rind throughnhancmnts you din to mt yourorganization’s spciic nds.Fxib and Robust Data MaintnancWith a usr intrac dvopd in thWb Dynpro dvopmnt nviron-mnt, SAP Mastr Data Govrnancsupports a vry xib usr intracmod. You can din your own usrintrac or xtnd th xisting onto mt your businss and nd-usrprrncs. With th businss rusramwork too within th SAP sot- war, you can din businss rusand buid unctions into th sotwarto vaidat data input. You can st upth appropriat authorizations to n-orc scurity and workows across your ntrpris. You can prorm datamaintnanc on an individua businssobjct or on a rang o objcts, andmaintain businss objcts within hirar-chis. With th abiity to viw th com-pt structur o your inancia mastrdata, you gain much-ndd visibiityand can dri down into th dtai o anyparticuar objct you want to maintain.
SAP ors a soutionthat supports inanciamastr data govr-nanc or SAP Busi-nss Suit. Th appi-cation nabs thintgration o yourcorporat inanciamastr data with yoursubsidiarisinanciamastr data.I your approach to inanciamastr data managmntis manua or homgrown –prhaps simpy a sprad-sht – maintaining consis-tnt data across thntrpris and govrningthat data is going to b aprobm.
 
Customizab Approva ProcsssWho rqustd th chang to yourinancia mastr data? What businssrasons wr givn or making thchang? Who authorizd th chang?Who mad th chang? Whn didach vnt tak pac?To govrn your inancia mastr dataand maintain compianc, you musthav a vriiab audit trai. You mustaso hav th abiity to contro both thchang-approva procss and th x-cution o changs. SAP Mastr DataGovrnanc hps you with both. Itsuppis th ncssary tracking inor-mation and ts you din th approvaprocss workow stps. You can stup procsss that hp you achivcompianc with IFRS, th Sarbans-Oxy Act, GAAP, and othr rguatoryrquirmnts.
Beneits
SAP Mastr Data Govrnanc givs you suprior support or managing yourorganization’s inancia mastr data inSAP Businss Suit appications. SAPMastr Data Govrnanc:
Faciitats ast coss, which:Aows you to pubish quartry andannua inancia statmnts on timIncrass th icincy o corpo-rat groups by suppying mor ri-ab and accurat data through thrduction o manua maintnanc
Supports ntrpris prormancmanagmnt by:Providing data to compar pror-mancs o subsidiaris and ocabranchsHping maintain th consistncyo mastr data and hirarchisthroughout th corporat group oraccurat, comprhnsiv rporting
Supports icint compianc withIFRS, th Sarbans-Oxy Act,GAAP, and othr rguations througha govrnd mastr data procss withauditab data, data changs, andaudit trais
Find Out More
To arn mor about how SAP sotwarsupports you with govrnanc o inan-cia mastr data, contact your SAPrprsntativ.
SAP: Delivering IT-PoweredBusiness Innovation
SAP divrs products and srvicsthat hp accrat businss innova-tion or our customrs. W biv thatdoing so wi unash growth and cratsigniicant nw vau – or our custom-rs, SAP, and utimaty, ntir indus-tris and th conomy at arg. Today,customrs in mor than 120 countrisrun SAP appications – rom distinctsoutions addrssing th nds o smabusinsss and midsiz companis tosuit orings or goba organizations.SAP dins businss sotwar ascomprising ntrpris rsourc pan-ning, businss intignc, and ratdappications such as suppy chainmanagmnt, customr rationshipmanagmnt, product icyc man-agmnt, and suppir rationshipmanagmnt.
From Walldor to Wall Street: The SAP Success Story
Foundd in 1972, SAP has a rich historyo innovation and growth that has madus a tru industry adr. SAP hassas and dvopmnt ocations inmor than 50 countris wordwid andis istd on svra xchangs, incud-ing th Frankurt Stock exchang andNYSe undr th symbo “SAP.”
Helping Companies BecomeBest-Run Businesses
Our vision is or companis o a sizsto bcom bst-run businsss. Intoday’s changing businss nviron-mnt, bst-run companis hav carityacross a aspcts o thir businss, which aows thm to act quicky withincrasd insight, icincy, and xi-biity. By using SAP soutions, compa-nis o a sizs – incuding sma busi-nsss and midsiz companis – canrduc costs, optimiz prormanc,and gain th insight and agiity nddto cos th gap btwn stratgy andxcution. To hp our customrs gtth most out o thir IT invstmnts sothat thy can maximiz thir businssprormanc, our prossionas divrth highst v o srvic andsupport.
Th xib data modsupportd by SAPMastr Data Govr-nanc aows you tomaintain your inanciadata cntray. A datamod or standardinancia objcts usdin SAP sotwar isincudd.

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