SAP is launching an S/4HANA-Based Subledger solution for Financial Products, providing a central hub to manage data between operational and finance systems. It takes advantage of SAP’s in-memory computing platform, SAP S/4HANA, for flexibility and speed.
The subledger solution runs on a multi-GAAP accounting engine that provides enhanced calculation and accounting capabilities for payments, business events, and estimated cashflows.
Centralizing all accounting rules for financial instruments and insurance contracts unburdens the product systems from accounting and controlling tasks, thus allowing for significant cost reduction and easy reconciliation of different sets of books.
For insurance companies, an additional component supports the preparation of estimated cashflows provided by actuarial systems.
“This solution supports sophisticated multi-GAAP valuation and accounting concepts,” said Luka Mucic, CFO and member of the executive board of SAP. “SAP Fiori-based embedded analytics makes the solution a dynamic tool for the end user and takes it beyond a pure instrument for documentation to a powerful platform that generates data analysis to facilitate financial steering. These enhancements build on what we’ve already accomplished in our co-innovation project with Swiss Re, and we look forward to implementing this at a larger scale among our banking and insurance customers.”
For more information about this solution, visit www.sap.com.