Modern businesses are no longer run by the same old business processes. They are more complex and need to have the right processes in place that match the way their business works.
SAP Central Finance is a complete package that provides your business with the tools you need to manage all the financial aspects of your business with great efficiency. However, like everything else, there are myths surrounding it that need addressing.
Here are five common myths of SAP Central Finance:
1. SAP Central Finance is only for large enterprises
SAP Central Finance is a scalable solution that can be tailored to meet the needs of businesses of all sizes. It is designed to help organizations streamline and centralize their financial processes, regardless of their size or industry.
2. SAP Central Finance is only for organizations with a high volume of transactions
SAP Central Finance can be implemented by organizations of any size and with any volume of transactions. It is a platform that allows companies to centralize and standardize their financial processes, providing real-time visibility into their financial data and enabling them to make more informed business decisions. So, just because an organization doesn’t have a high volume of transactions doesn’t necessarily mean SAP Central Finance isn’t an apt fit for them.
3. SAP Central Finance is only for global organizations
SAP Central Finance can be implemented by any organization, regardless of its size or global presence. It offers a centralized platform for financial data management, allowing for improved visibility, efficiency, and control over financial processes.
4. SAP Central Finance requires a significant amount of technical expertise to implement
While SAP Central Finance does require some technical expertise, the implementation process is designed to be user-friendly and can be carried out by trained business users with support from SAP experts. Additionally, SAP offers training and support resources to help organizations successfully implement and use SAP Central Finance.
5. SAP Central Finance is only for organizations with complex finance processes
SAP Central Finance is suitable for organizations of all sizes and industries, regardless of the complexity of their finance processes. It offers a centralized platform for managing finance processes and data, which can streamline and simplify finance operations, even for organizations with relatively simple finance processes.
A lot of these myths can be dispelled when you would try SAP Central Finance firsthand and understand its utility value for your distinct use cases. But before that, make sure your employees are effectively trained to adopt and manage SAP Central Finance. There are many SAP solution providers that offer corporate training. Find one and get your team trained to make the most of this SAP system.