In this blog post we will see how the traditional Record to Report processes which were manual, tedious, time consuming can get automated, simplified with innovations in intelligent technologies like SAP Intelligent Robotic Process Automation, Embedded Analytics.
Record to report (R2R) involves collecting, processing, and presenting accurate financial data. R2R provides strategic, financial, and operational feedback on the performance of the organization to inform management and other stakeholders.
Record to Report processes –
Journal entry posting
GL reclass postings
Exchange rate updates
With innovations in Intelligent technologies, these tasks can be automated, simplified, thus RTR team can focus on more strategic tasks that create actual business value.
SAP Intelligent Robotic Process Automation
Let’s see how Innovations in Intelligent Robotic Process Automation automates the Record to Report processes.
Standard Bots -
Automated Upload of General Ledger Entries (48I)
This bot collects the journal entry templates from the user's mailbox and uploads them using the standard Fiori application. Afterwards, the user gets notified on the status of the upload, receiving a list of accepted and rejected entries with the explanation included in the application log. This bot works on both SAP S/4HANA Cloud and on premise 1809, 1909, 2020 and beyond.
Automated Upload of Manual Entries via API (4CA)
This bot automatically collects template of General Ledger Journal upload from Microsoft Outlook, extracts and validates the content and post the entries into SAP S/4HANA systems via API.
Smart Accruals Collector (4FN)
Creating manual accruals is a repetitive task that involves getting information from a spreadsheet to copy/paste it in the accounting system. In some cases, the accountant need to create accrual objects manually in the occurrence of a purchase order not created in time. The accountant need to get information from business and create document manually. With this bot we will automate the accrual creation process. This bot works on both SAP S/4HANA Cloud(EX) and on premise 1809, 1909, 2020 and beyond.
Automated Generation of GL Re-class Postings (5AK)
The bot checks journal entries created with specific company codes and G/L accounts and reclassifies the journal entries by transferring the amounts to other G/L accounts based on predefined mapping rules. The reclassified journal entries will be created as Excel template files. This bot works on SAP S/4HANA Cloud.
Demo: Automated Generation of GL Re-class Postings
Inconsistent New-GL Open Item Exclusion for Migration Cockpit (4JD)
In a two-step approach, this bot automatically executes the report to get information on the inconsistent documents and then removes the inconsistent documents from the SAP S/4HANA On-Premise 1909 system. Currently, the exchange/orchestration of information between various frameworks like readiness check and migration cockpit requires a tremendous amount of effort due to the volume of data involved in it. Ensuring data consistency during migration is one of the most common and complex challenges for transformation to the SAP System. This bot simplifies the work of SAP S/4HANA users, who are responsible for data migration projects, and core business users, who are responsible for business decisions.
Demo:SAP Intelligent RPA 2.0 Automation - SAP Logon Pad and SAP GUI
Reporting with Embedded Analytics:
We get embedded Analytics in SAP S/4HANA Cloud and on premise systems which gives us real-time data in Analytical Apps, Dashboards, Data Analyzer.
General Ledger Overview - With this analytical overview app you can monitor important general ledger accounting indicators and access the relevant general ledger accounting apps.
Group Financial Statements - You use this app to display group financial statement reports.
Group Data Analysis - Analyze consolidated financial statements, such as balance sheets and profit and loss statements by drilling down to specific dimensions.
Group Data Analysis with Reporting Rules - Use this app to perform ad hoc analyses for rule-based reports, such as cash flow statements, statement of changes in equity, and comprehensive income statements, by drilling down to specific dimensions.
Cash Flow Comparison by Time - Cash Flow Comparison by Timestamp with SAC