SAP Financial Consolidation is a software for current SAP customers with complex tax and statutory requirements. Key features include automated consolidation processes, matrix consolidation for diverse reporting needs, and real-time reporting capabilities on platforms like SAP HANA. SAP Financial Consolidation is still being maintained and supported by SAP, with mainstream maintenance extended until December 31, 2030.
Pros
Automated consolidation processes
Matrix consolidation
Fully traceable audit trail
Cons
Only for SAP Business One customers
Overwhelming for businesse with simpler consolidation needs
Target Market
Larger enterprises with complex consolidation needs, including handling multiple currencies, compliance with various accounting standards, and dealing with diverse business entities.
About SAP Financial Consolidation
SAP Financial Consolidation helps create fast and accurate financial statements with multiple currencies and among varying levels of departments, entities, mergers, and acquisitions. SAP Financial Consolidation is a way to streamline compliance and meet management/global regulatory requirements when it comes to reporting your financial close. The solution will help you meet accounting standards such as IFRS and GAAP.
This product is only available for current users of SAP solutions, such as SAP Business One.
SAP Financial Consolidation Key Features
Automated consolidation processes: Streamline the production of financial statements and meet reporting requirements such as local Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Matrix consolidation: Satisfy both statutory consolidation and management reporting requirements by using two different reporting unit rollups in a single consolidation.
Performance: Run all processes with a fully traceable audit trail that doesn’t compromise performance.
Reporting structures: Combine legal and management reporting structures in a single consolidated view. Compare what-if simulations side-by-side to analyze organizational changes, mergers, or acquisitions.
Real-time reporting: SAP Financial Consolidation runs on the SAP HANA® platform, in addition to Microsoft SQL and Oracle.
Open integration: Seamlessly integrate data and master data from both SAP and non-SAP sources into your financial planning and consolidation environment.
Accounting software with full traceability from top to bottom
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