The Challenge of Internal Control
Countless spreadsheets, contradictory data, late reports – internal control is a challenge for any larger business enterprise. Consequently, costs for achieving financial compliance may be unreasonably high and the risk to fail audits may increase.
What is more: due to globalization, companies in all fields of business are confronted with increasing regulations. Whether it is ISO or SOX compliance, no company can operate without meeting legal rules and regulations.
Next Generation Internal Control
This challenge can be met by centralized and automated controls and reports. The SAP Financial Compliance Management tool provides unbeatable advantages as an internal control system:
Transparency in Real Time
Using SAP Financial Compliance Management, all your SAP S/4HANA systems can be bundled and controlled – in the cloud as well as on premise. Thus any authorised person has central access to all data in real time.
Individualised Controls
Legal and industry-related regulations can be programmed as custom-made controls for the specific requirements of your enterprise. All data are checked in real time by automated or pre-planned manual controls which will alert you of any deviations.
Effective Issue Management
Any alert is directly linked with the faulty data and can be checked directly out of the cloud-solution. On the push of a button you will get a statistical overview of all incidents in a pre-selected period of time.
.jpg)
Reduce Relevant Risks
SAP Financial Compliance Management enables you to concentrate on the really important tasks. Reduce the number of less important and recurring controls through automation and multiple application of test routines in different processes. Focus instead on how to protect your business effectively and efficiently:
- You can identify the biggest risks for your enterprise.
- You can see the current impact on the most important business processes.
- You can always keep track of the rules and regulations that affect your business.
Save Time and Money in regard to Compliance
SAP Financial Compliance Managment saves you time and costs – without cutting back on the quality and quantity of your internal controls. The integration of all your SAP S/4HANA systems in particular will increase your performance and decrease the costs per control.
Additionally, the cloud tool guarantees that all data are complete in real time, which enhances the reliability of your internal controls significantly. This enables you to deal only with actual deviations in your processes (and not with theoretic faults that usually require intense examination).
Why you should work with Turnkey Consulting
Turnkey Consulting experts have been significantly involved in the development of SAP Financial Compliance. This makes us one of the few SAP partners in the world, which are proficient in handling the cloud solution at all.
In addition, we have 70+ ready-made controls at our disposal, which allow us to have SAP Financial Compliance Management up and running for your business in an instant.
Moreover, we are able to implement all relevant regulations and all special requirements into manual or automated controls in the SAP Financial Compliance Management tool within a very short time.