SAP BPC (Business Planning and Consolidation) is a software tool that helps organizations plan and helps manage their financial and operational performance. It provides a range of capabilities for budgeting, forecasting, consolidation, and reporting.
One of the key features of SAP BPC is its ability to support financial and operational planning, allowing organizations to align their financial and operational goals and objectives. It also enables users to create and manage multiple planning scenarios, such as “what-if” analyses, to help organizations make more informed decisions.
SAP BPC also supports data consolidation and reporting, using which organizations can combine financial data from multiple sources and view it in a unified format. It aids organizations in gaining a more accurate and complete view of their financial performance, further enabling them to make better decisions.
In addition to its planning capabilities, SAP BPC also offers a range of other features, such as support for data validation, and workflow, to help organizations ensure the accuracy and integrity of their data.
SAP BPC is constantly evolving to meet the changing needs of organizations, and thus there are more fields where SAP BPC can create a huge impact. Some of which are:
- Cloud-based deployment: SAP BPC is currently available as both on-premises and cloud-based software. In the future, easier cloud-based deployment options may enable organizations to access and deploy the tool.
- Artificial Intelligence and Machine Learning: SAP BPC may integrate with AI and Machine Learning technologies to enable more advanced forecasting and prediction capabilities.
- Mobile Accessibility: SAP BPC may be enhanced to be more mobile-friendly to allow users to access their data on the go using mobile devices.
- Integration with other SAP products: SAP BPC may be integrated with other SAP products to provide seamless and comprehensive solutions for organizations.
- Automation: Automating the entire planning process, such as data collection, validation, and submission, can be enhanced in future versions of SAP BPC.
These are only examples of potential future investments and integrations, and many more possibilities will open as the company and market demand change.
Developing an SAP BPC strategy involves several key steps and considerations, including:
- Define business requirements: Understand the specific business needs and objectives that SAP BPC will help to achieve. Identify the key processes, data, and stakeholders that the implementation will impact.
- Assess current systems and data: Evaluate the systems and data that will feed into SAP BPC to ensure they are compatible and capable of supporting the desired functionality.
- Define the scope of the implementation: Clearly define the scope of implementation, including which modules will be deployed first, for which, which processes will require to be automated, and consecutively the corresponding data that will be used.
- Continuous improvement: Monitor and evaluate the system’s performance and make necessary improvements. Establish a process for regular review to ensure the system meets the business’s evolving needs.
By following these steps and considerations, organizations can develop a comprehensive and effective strategy for implementing and using SAP BPC to support their financial and operational planning and performance management needs.
TekLink can help you kickstart your SAP BPC Journey enabling your business to scale-up better.