Hana from the perspective of a CFO

There is currently a mood of change in most companies that use SAP. As the manufacturer pushes ahead with the switch to the new technology platform, many companies in Germany already have a short- to medium-term Hana strategy.

In the vast majority of cases, the SAP BW business intelligence package is the first step on the path to comprehensive Hana migration. In principle, SAP Hana provides a great deal of technology at the database level - a fact that CFOs in particular should take advantage of.

Especially for the area of evaluations and analyses, there are in part completely new, greatly improved possibilities. Database communication is just one of the keywords here.

Another aspect is that analysis models can in many cases be implemented directly by the business departments. This is a plus in terms of control and usually saves a considerable amount of time, as it actively relieves the IT department.

Hana strategy: technology is only one aspect

However, none of this can succeed if the general, overarching Hana strategy focuses purely on the technological aspects and remains limited, for example, to topics such as reporting, ERP, or the operational systems.

From the CFO's point of view, it is much more important to broaden the perspective considerably and to consider the entire landscape in the form of an approach for integrated business intelligence.

This is where the finance department's control systems from the entire spectrum of CPM tools (Corporate Performance Management) and related aspects come into play: for example, planning, consolidation and various regulatory topics.

The focus of a holistic Hana strategy should be to integrate the necessary control systems, which in a sense form the content component, as seamlessly as possible into the technological platform.

So instead of proprietary, separate stand-alone solutions that ultimately just create new, isolated islands again, the goal must be to embed key control systems to achieve maximum benefit.

Financial Reporting Standards

In addition to planning and consolidation, the regulatory topics that currently stand out for CFOs are IFRS 16, IFRS 17 and IFRS 9. IFRS 16, for example, will come into force at the beginning of 2019.

The new set of rules under the International Financial Reporting Standards has massive implications in terms of the entire approach and process chain when dealing with leases.

In some cases, far-reaching changes are required, which must be mapped both in terms of content and technology. Here, too, the objective in the course of a Hana strategy should be complete integration.

Conclusion

In summary: CFOs should make sure to get involved as early as possible in the planning and realization of a changeover to SAP Hana in their company.

The most important strategic course is to also rely on technologies from a content perspective that can be embedded without breaks - in a sense, "Business Intelligence embedded by SAP Hana".

If this balancing act is successful, the doors open for numerous added values as well as more flexibility and control in the area of financial processes. In addition to powerful analyses, this also includes significantly more independence for the specialist departments. And the Office of Finance emerges from the migration clearly strengthened and optimally positioned for the future.