Business transformation with SAP Central Finance
An integrated oil and gas company streamlines its business structure to reduce costs and reinforce its strong balance sheet.
An integrated oil and gas company with a diverse range of operations sought to streamline its business structure to reduce costs and reinforce its strong balance sheet. The company decided to use this as an opportunity to transform its existing financial systems and leverage digital technologies to accelerate its finance and IT journey. The client determined that a single, unified and transparent financial system would eliminate segmented reporting, automate manual processes, and simplify reporting for internal and external parties.
The client chose SAP S/4HANA® Central Finance with Central Payments and worked with Accenture to enable this leading-edge finance solution.
The client needed the Central Finance system to be launched within 12 months, followed by Central Payments, so Accenture leveraged its assets and accelerators to be able to meet that critical deadline. The team embedded SAP Group Reporting within the S/4HANA core to increase the granularity of data in group reports so that operational accounting data could be exposed to the corporate group level.
As a global SAP partner, Accenture was best placed to lead the multi-vendor project and help the client minimize risk along the way.
For example, the client and Accenture used a three-month trial run or “business simulation” of the new solution to validate and confirm that the results as presented out of the new system were reconciled with the legacy system. This phase also supported the necessary organizational change management activities to increase user knowledge and adoption of the new ways of working.
Throughout the project, the team adopted a hybrid-agile approach—meaning much of the development and implementation effort was delivered in four-week sprints. The project culminated in a flawless transition from the old site to the new.
Accenture was able to build, test and deploy SAP Central Finance and Central Payments within an 18-month schedule. The S/4HANA solution was also aligned to the company’s cloud-first strategy to achieve reduced IT costs and act as the foundation for the client’s S/4HANA roadmap. For the finance organization, the new system successfully reflected the streamlined financial model, reducing the number of manual processes, speeding up operations, and enabling more accurate and transparent reporting on business transactions.
With the SAP Group Reporting solution, reconciliation efforts have been reduced, consolidated financial reports are more accurate and available earlier, and continuous-close capabilities are now achievable in the near future. More accurate data and a leading-edge solution has enabled better decision-making for the client in the long run, resulting in cost savings, organizational efficiencies and better outcomes.