Financial Management with SAP Business ByDesign
Get an up-to-date view of your financial condition, and optimize your core accounting processes.
SAP Business ByDesign can help you meet global financial reporting standards, deal in multiple currencies, and streamline tax reporting. Plus, accelerate your period-end closing process, make more informed decisions with real-time integrated analytics, and seamlessly manage payables, receivables, liquidity, inventory, and more.
Financial and Management Accounting
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SAP Business ByDesign is a complete financial and managerial accounting solution that provides the full scope of accounting functionality required by growing companies. This functionality includes general ledger, accounts receivable, accounts payable, fixed assets, inventory, cash and liquidity, managerial and project accounting, compliance, and internal and external reporting. With SAP Business ByDesign, you can streamline financial processes through automation and workflow that help minimize the time and effort of gathering and entering data. It also extends integration with customer- and supplier-facing business processes (such as order to cash and procure to pay) and helps ensure that transactions automatically flow to the general ledger. With SAP Business ByDesign, you always have real-time, reconciled financial statements, such as balance sheets, income statements, cash flow statements, and tax reporting. It also provides complete transparency into every financial transaction with full audit trails, approvals, and document flows.
The solution’s general ledger functionality lets you establish parallel ledgers to simultaneously manage reporting for company divisions with different fiscal years, multiple reporting standards such as GAAP and International Financial Reporting Standards (IFRS), and different currencies. SAP Business ByDesign automatically converts foreign currency transactions into your company currency using preconfigured currency conversion settings. By automating a wide variety of processes and tasks, the solution accelerates period-end closings across multiple business entities and transaction currencies. Monitoring tools help you oversee the closing process, while collaboration tools enable workers to assign, monitor, and complete tasks regardless of their location. The solution provides a large set of preconfigured reports covering statutory requirements and a variety of managerial requirements.
Cash Flow Management
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SAP Business ByDesign gives you timely and accurate visibility into your cash inflows and outflows so you can make sound cash management decisions. It enables you to analyze and forecast liquidity using real-time data reporting. It also provides complete transparency into every financial transaction with full audit trails, approvals, and document flows.
Employees can generate detailed reports by multiple dimensions, such as line items by cost center, geography, department, and customer engagement, and then reconcile line items back to the general ledger.