SAP Reconciliations
SAP Reconciliation is a process that ensures the accuracy and consistency of data across different SAP modules and external systems. It involves comparing and matching balances, transactions, and other key information to identify and resolve any discrepancies.
Mission Statement
SAP is an enterprise level software application with large coverage from HR, Finance to CRM’s and Digital Solutions. This means capabilities are locked within each plan and there is limited flexibility for our clients that utilise SAP for their business processes.
Firstly, they require SAP data to be available to users and analysts across the business. However, this can be a challenge as accessing the data within SAP is time consuming and adds little value. SAP stores its data within data stores, and this means it is not in an easy consumable format for users.
Secondly, our client uses two financial systems, Pershing and SAP Banking for different business areas. However, for financial reporting it is imperative that both systems are aligned and correct as incorrect reporting can lead to hefty penalties or fines.
This is where Alteryx and our partner DVW enable us to provide end to end solutions for our client.
Tools Used
Alteryx Server
Designer
Server
DVW
Alteryx Connectors
Detailed Solution
The solution to our client’s problem consists of the following steps:
Alteryx allows the client to define filters and criteria for data extraction and this can be altered for different requirements. Data can then be extracted from SAP using the DVW Alteryx Connector, which allows direct and secure access to SAP data without coding or scripting and utilising the users existing permissions. Alteryx can then process this data output to excel, or any shared data source for business users to take advantage of the SAP data.
Alteryx can access the DVW Alteryx Connector to ingest this data while simultaneously connecting to the Pershing system and reconciling across accounts and clients. After this reconciliation all errors are sent to team members to notify them of any issues and an issue log is also created where it can be further analysed to mitigate future errors. This allows peace of mind that both systems contain correct and accurate data.
Both processes are powered by Alteryx Server providing a fully automated solution to the business.
Impact
The benefits of this solution are:
Increased efficiency and accuracy: The client can save time and resources by automating and streamlining the data extraction and transformation process and ensure data quality and consistency across systems.
Enhanced visibility and agility: The client can gain a holistic and granular view of their financial data and performance, and quickly respond to changing business needs and opportunities.