Data acts as a resource for knowledgeable decisions. There are many steps to take before the numerous data volumes generated every day can be transformed into reliable information and well-founded decisions.
Raw data has no real value – but information does. There is a limit to what lengths decision-makers can go to to obtain said information without outweighing the benefits of a better decision-making process.
Easier said than done, though. In theory, it seems simple. Practical experience shows that analyzing data has always been a complex task for CFOs.
Before they were able to make a well-founded decision, they had to invest a lot of time and effort into analyzing and structuring data. More often than not, this resulted in decisions based on unreliable data.
S/4 can help analyze data
S/4 opens up new possibilities of decision-making for CFOs. With S/4, SAP does not just offer customers user-friendly, standardized data analysis, but it also helps them access information without having to laboriously structure data.
For example, the results of the data analysis are already displayed and evaluated on S/4’s dashboard. Fiori’s neat user interface did win the Red Dot Design Award, after all.
Users do not have to search for subtotals in lists anymore. A S/4 app charts the figures for them. Filters make it possible to further specify necessary information. If someone wants to take a look at the data themselves, CFO’s can simply send them a link instead of a screenshot with which they can easily access the display and graphs.
Comprehensive search and selection possibilities of S/4 Finance replace many laborious tasks, like creating cost centers and accounts in advance. This saves time and effort and increases flexibility.
With only a tiny bit of effort, CFOs have access to all the information they need to make knowledgeable decisions. Furthermore, S/4 shows them how urgent and crucial decisions are with KPIs and a traffic light system.
S/4 is beneficial for all areas of finance, but especially if decisions regularly have to be revisited and adjusted, like in cash management. S/4 supports better decision-making processes in finance. As the system shows information from every area of business, every decision can be made with less effort and more profit.
Apart from the economic benefits, every decision made is documented simply and comprehensively. Decision-making processes become transparent and sustainable. Consequently, the confidence of management in the work of CFOs increases.