We very commonly are asked to help create applications or integrate Project reporting and surface financial information for end users. Advisicon constantly works to help showcase new tools or capabilities to help you increase your productivity. If you are in a SAP environment, there are some new capabilities you can take advantage of. As a line-of-business manager, it can sometimes be difficult to get a real-time look at your spending and budgets.
However, a new app for line managers can make budgeting quick and efficient. The new app is called SAP RealSpend and is based on SAP’s Hana Cloud Platform. It can pull data from core financial reporting systems so managers can do impromptu spend analyses and calculations if needed. This app allows you to drill down, analyze the data in real time and see what current expenditures are while projecting future spending.
What are the other key features for line managers?
Feature #1: The app can provide a synopsis of expenses, listed by categories including cost centers, internal orders, and accounts.
Feature #2: The app will allow managers to supplement booked data from an ERP system with planned expenses, which allows them a rapid look at whether they are maintaining their budget plan and operating within it.
Feature #3: The app allows managers the chance to simulate what influences are affecting the budget, including marketing, travel, overall sales, equipment investments, and other employee expenses.
Feature #4: It works with other data from SAP, as well as other third party sources.
Feature #5: The app allows users to collaborate with team members to resolve budgetary issues.
Feature #6: Users can sign up to receive customized spending alerts.
If you’re a line manager, you are likely always looking for ways to streamline your business practices and save time. While spreadsheets have value for individual use, it can be difficult to use these effectively on-the-go in real world situations, so an app like this has the potential to revolutionize the way busy line managers do financial business while they’re mobile. General manager and global head of LoB Finance at SAP says, “This app uses the cloud to innovate on top of our finance core and provides line managers and others with budget accountability the tools they need to make sound spending management a real-time activity across the entire enterprise.” (1)
If you’re a line manager looking to manage your spending in a proactive way and be sure that you follow your budget restrictions and guidelines, this app is a great option. It is the first app to connect to the SAP S/4 Hana Finance product in real time without having to duplicate data. Download it to your iPad and access it anywhere, anytime.
Have questions about this tool, or looking for other ways to keep track of your budgets, or perhaps you are not a SAP shop, but using Microsoft or Office 365? Contact our experienced team at Advisicon for the latest business intelligence tools and strategies.
- Lee, Danielle. “SAP Launches Budgeting App RealSpend.” May 17, 2016. Accounting Today. Accessed May 19, 2016. http://www.accountingtoday.com/accounting-technology/news/sap-launches-budgeting-app-realspend-78128-1.html