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Because of the diverse economic and regulatory pressures that companies face, many finance executives worry that their current reporting and planning systems won't be able to deliver the necessary transparency or instill appropriate confidence in stakeholders.
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SAS® Accelerated Computation Engine
Read about the new patented algorithm in SAS Financial Management designed to streamline the consolidation process. (PDF: 271KB) |
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And because global organizations store financial data in disparate, geographically dispersed source systems, some using different accounting and reporting standards, it is difficult to organize data into a central repository and even more difficult to report and analyze comparative results. Moreover, the planning and budgeting process within many companies consumes an excessive number of costly resources and often provides little value for management.
SAS Financial Management improves the accuracy, relevance and timeliness of financial plans, budgets and reports while promoting the alignment and execution of strategy. This solution uses the integrity, analytic power and scalability of the SAS Intelligence Platform to facilitate flexible, strategic financial and operational planning within a collaborative environment – across the entire enterprise. Using SAS Financial Management, organizations can more effectively analyze and manage the true drivers of shareholder value in relation to strategy in real time.
SAS Financial Management includes two integrated functional components:
- Planning – allows finance executives and other key finance department personnel to embed advanced SAS analytics into budgets and plans for more accurate forecasting of future operating results.
- Financial reporting – provides the unique capability to consolidate multidimensional information on demand while performing all financial calculations relevant to the reporting and planning processes, thereby enabling companies to close their books more rapidly.
Using these powerful components, companies will be able to:
- Create more frequent, accurate forecasts. SAS Financial Management allows an organization to create plans and forecasts which can easily be updated in response to changing business and operational circumstances. As a result, forecasted earnings expectations can be released with greater confidence, and the continuous process of managing strategy execution is enabled and shared across the enterprise.
- Ensure financial transparency. SAS Financial Management provides a transparent environment for managing financial and operational data in order to produce timely, accurate and relevant reports. This transparency is achieved by extending control of information horizontally across the enterprise and vertically between transaction-oriented systems and the higher-level financial management system.
- Publish reports more quickly. Because of the growing need to publish accurate reports more quickly, SAS Financial Management significantly reduces the time required to produce and publish financial reports. On-demand consolidations, which simultaneously incorporate any necessary currency conversion, eliminations, ownership adjustments and allocations, can reduce the time and cost necessary for financial consolidations.
SAS Financial Management is one component of SAS Financial Intelligence, a vision for financial performance management that includes solutions for financial management, activity-based management, dashboards and scorecarding, risk management, and advanced analytics such as optimization and forecasting. By combining the hindsight, insight and foresight provided through these powerful solutions, corporate finance departments can build credibility and confidence within other areas of the company.
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