SAP announced new innovation for the SAP Business Suite powered by SAP HANA, modernizing the SAP ERP Financials solution with a next-generation architecture and reinvented user experience.

Announced from SAPinsider May 21-23 in Nice, France, the update leverages the native capabilities of the SAP HANA platform while enriching it with: a common source of information for all regulatory and managerial accounting processes; new reporting and analytics capabilities with self-service access to information; and on-the-fly capabilities for moving finance processing from batch to real-time.

The innovation, also serving as the basis for SAP Accounting powered by SAP HANA and SAP Cash Management powered by SAP HANA, gives users a better understanding of business drivers by analyzing all data in real-time on any dimension. SAP itself deployed the innovation, including an evolution from the classical to new SAP General Ledger application, in less than two months.

“We see CFOs around the globe starting the next wave of finance transformations to cope with the new normal of business reality and partner more closely with the business,” stated Bernd Leukert, member of the executive board of SAP AG, products & innovation. “Technology is a major enabler of this transformation. With this advanced innovation, Finance organizations can now achieve a new level of alignment, agility and predictability not previously possible.”

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