Simple Finance. Sounds like an oxymoron, doesn’t it?
Not according to SAP. They’ve worked hard to make their finance solutions simple to use, real time, SAP HANA-powered and cloud based.
This morning, SAP CEO Bill McDermott announced his organization's new finance solution during his keynote address at SAPPHIRE NOW, SAP's user conference being held in Orlando, Fla.
All About Simplicity
Though SAP has had plenty to say about In-Memory, SAP HANA, Big Data, Analytics and ERP in the past, there’s a new word in their presentations this year: simple, simplification, simplify -- however you to choose to say it. It’s one of the key themes at SAPPHIRE NOW.
Some conference attendees appreciated the “simple” message but pointed out it will come with challenges:
So, it goes to follow that the new finance solution they unveiled today is appropriately named Simple Finance.
SAP Simple Finance, according to Steve Lucas, president of SAP Platform Solutions, will provide a giant step into the future for finance departments around the globe because it leverages both SAP’s proven, market-leading finance solutions which were built according to customer input, and the real-time in memory technology of SAP HANA.
The integration of these components will allow companies to run their mission critical processes in real time on the SAP Cloud and set a new benchmark in the industry.
SAP also announced the free offering of SAP Fiori Tuesday morning.
Speaking of the new finance solution, McDermott told the audience in Orlando that there are data and processes out there “built for controlling and not collaborating."
“Why can't we get actual data to make our own decisions in real time?” he asked. “Why can’t we get financial data by searching for it? It’s time for SAP to make sophisticated finance simple. This is another SAP game changer for the business software industry.”
The win here for companies is the ability to make strategic decisions and take action gleaned from insights in the moment, as they pertain to planning, accounting, treasury, financial applications, risk and compliance and so on.
SAP Simple Finance solutions are hassle free as well because they live on SAP’s elastic, secure and reliable SAP Enterprise Cloud and are powered by the SAP HANA platform.
It’s also worth noting that SAP Simple Finance holds solutions built specifically for 25 industries in more than 50 countries that comply with both local and global requirements of finance departments.
The big win for SAP customers doesn’t even stop there because SAP has more than 40 years of experience delivering world class software to enterprises all over the world.
Because these solutions have been built on HANA, which SAP owns, they won’t be subject to the whims of a third-party database vendor like Oracle, which is the case for most financial and other solutions, like Salesforce.com.
We have yet to learn what customers who have previewed it have to say, but SAP, and every other computing company for that matter, are at a critical juncture right now, and releasing a solution that fails to delight would show a critical lack of judgment.
And while we don’t know McDermott very well yet, we’d certainly bet on Lucas.
Staff Reporter Dom Nicastro contributed to this report.