Connect with us

TECH

Transform Finance Operations using SAP Business Planning and Consolidation

Published

on

SAP Business Planning

Proper business planning is essential for its establishment and growth. There are many ways in which data collected from multiple sources can be used to carry out different strategy-making processes. This consolidation and planning become more complex as the size of the enterprise increases and large transactions spanned over other countries start taking place.

This is where SAP BPC comes to help the organizations make the best use of the data and analyze them to make successful plans. The software is also capable of generating reports which form an essential part of the regular audits.

Financial consolidation is a topic that is involved in collecting transactional and other financial data from different sources. This is suitable for companies having multiple groups having multiple financial statements. The month-end process can be very tricky, and an automated system is highly essential for this step. In this article, we will be discussing the importance and ways of consolidating financial data.

Importance of Consolidating Financial Data

Companies usually work in multiple countries, and different countries have different financial rules which need to be followed. Financial reports that have to be made by every company every month should have been uniform and easy to understand. To get this consolidation of financial data is very important. It converts different economic systems and policies into one form by following their norms.

A company can also be owned by more than one owner from different countries, so the financial report should correctly display this information. The report should mention the percentage of ownership by each country and their productivity along with other crucial details. The SAP BPC consolidated statements will also properly reflect intercompany sales, goods cost, and receivables.

Performing Consolidation using SAP BPC

There are primarily four broad steps that are involved in completing a consolidation in SAP BPC, the steps are as follows:

  • Prepare – This is the step where the database is created, and the master data is transferred. The different business rules are security measures taken into consideration as the consolidation process is being started.
  • Collect – As the name suggests, this step is involved with collecting data both manually and automatically from multiple reliable sources. The data is validated before adding it to the central database, and then the currency translation for different currencies is done in this step as well.
  • Consolidate – This step involves three significant tasks, namely elimination, reclassification, and data validation.
  • Report – The report is automatically generated by analyzing the different data, which is then added to an Excel sheet. The business queries are taken care of via the SAP BusinessObjects Dashboard.

This was an overview of the steps involved in the entire consolidation process. But the whole system follows a particular workflow known as Business Process Flow (BPF). The steps involved in BPF are:

  • Balance Carry Forward – This step carries the last year’s records and details into the new financial year.
  • Import Actuals – The current data is imported from multiple sources into the local database to be integrated with the planning and consolidation process.
  • Data Validation – Data validation helps check the transparency of the asset, and the liability checks are run at this point.
  • Reclassifications – Adjustments and minute changes, if required, can be done at this point.
  • Journals – This helps in adjusting entries so that they can be made to follow the compliance norms. This can also be done at a later stage.
  • Ownership Data – The ownership data and the percentage of ownership by each owner are considered here.
  • Currency Translations – All the different currencies are converted into one central currency, which is acceptable (Like the US dollar).
  • IC Matching – IC differences are observed and booked here.
  • IC Elimination – IC revenues and cost of goods are eliminated.
  • Consolidation Monitor – This takes care of the various currency translations and ownership eliminations.
  • Publishing Group Financials – The final statements are published at the end of the consolidation process.

Introducing Business Rules in SAP BPC

Business rules are planning and consolidation steps for entering metadata into the tables of a database. It includes different attributes that help in differing and filtering the input data. Different calculations using these data are also carried out in this phase. The business rules are present in the environment level; the two different environment level business rules are:

  • Methods – There are different methods under this, namely 86 Purchase Method, 70 Proportional Method, and 30 Equity Method.
  • Method Based Multipliers – This is used to select different entity source values and book these data using different percentages.

Again there are six different rules for consolidation type models, which are as follows:

  • Currency Translation – Local currencies are converted into centrally used currency for easy calculations.
  • Elimination and Adjustments – Eliminates ownership and intercompany activities.
  • US Eliminations – Used to simplify the system by eliminating IC revenues and COGS.
  • Intercompany Bookings – Reduce intercompany differences by using IC matching techniques.
  • Account-Based Calculations – Used for reclassifications.
  • Carry Forward – Used to carry forward before period closing balances.

Conclusion

SAP BPC is an important tool for consolidating data and organizing them to be used across all departments. It forms a platform for integrating all financial data in a system and plays an integral part in regularly generating financial reports. Consolidation using BPC is a simple process that consists of four-pillar processes as described above.

Remember, SAP BPC is one of the most ideal tools for maximizing scalability while ensuring stable growth!

Continue Reading

APPS AND SOFTWARE

Increase Your Business’ Growth With Window Blinds Software 

Published

on

By

Increase Your Business' Growth with Window Blinds Software 

Giving end clients the best window treatments requires a great deal of work, notwithstanding a decent comprehension of the current style and plan. Wholesalers are, in the present circumstance looking for software to assist them with meeting and surpass client assumptions. Furthermore, they see that awnings software enables their groups and supercharges development and benefits. So if you need to find out about this software and how its assists organizations with expanding their development.

Why Window Blinds Software Valuable For Wholesalers? 

Before analyzing the elements of this product, we see for what reason to buy window blinds software. How it is valuable in a cutting-edge market, where the rivalry between window treatment organizations is savage. Wholesalers of blinds have been around for quite a long time and a considerable lot of them are dug in customary ways of working together. Significantly such software utilizes to deal with the entire of a blind distributer business and in addition to a piece of it.

  • Better management of retailers: In the window treatment business, the emphasis is on treating retailers as clients and dealing with the orders that they place. While conveying these orders to retailers, wholesalers need to guarantee that the items meet the determinations laid out. This is the place where software is convenient as insights concerning orders like estimations, colors, texture, and more can be put away online by sale agents while they are working in the workplace or the field. With the guide of this information, completely flawless orders convey to retailers with practically no issues.
  • Easily oversee clients and their information: Wholesalers and retailers in the window treatment industry need to look at details of a few hundred clients. Moreover, client information and insights concerning past orders need to access regularly and used to take new requests or convey items. BMS link software is helpful in this situation as it takes into consideration information to be accessed from any place in no time. Workers significantly don’t need to trust that pages will get done with stacking at a lethargic speed and get reliable day in and day out admittance to client information.
  • Allows for simple access from any area: In case, you are investing time and energy into developing your business then there is a need for software that works without a hitch and problems. With the BMS interface, you get awnings software that can be effortlessly accessed through the web whether you are in the office, at home, or an extended get-away. The cloud-based software is accessed with the guide of a program, permitting you to make statements, take requests, and close deals from any area.
  • Fast admittance to catalog and prices: Blinds wholesalers depend on lists with subtleties and pictures of items and costs in dominant sheets to make statements to retailers and to take orders. The software significantly lessens the requirement for getting sorted out and putting away paper-based indexes in file organizers. It additionally decreases the measure of physical work expected to look and discover them. Sales agents can, consequently, right away make statements inside a couple of snaps, send them to retailers and take orders dependent on them in practically no time. This quick course of making statements and taking requests permits wholesalers to beat contenders who are increasingly slow to win more deals.
  • Operation costs are diminished definitely: Cash set aside is cash acquired, and at the BMS interface we comprehend this idea well. The product by removing physical work makes sure that independent ventures don’t need to recruit additional representatives in any event when they serve more clients. All things considered, existing staff can deal with more clients inside their work hours with the guide of software and the business can save money on pay rates.
  • Business serves more clients easily: clients frequently require new window treatments while moving into another place, or when they need to redesign to deal with the blistering climate of summer. Wholesalers and retailers of blinds can deal with this unexpected expansion in client volume effectively in case they are utilizing the right software. Significantly, they don’t have to recruit impermanent staff, can, in any case, convey statements to clients before their rivals.

Organizations, for example, BMS interface, which offers window blinds software continue to add to highlights gave. If you want to buy window blinds software then, at that point, visit us today and get the most extreme advantages presented by this product. The features enlisted by such software, consequently, don’t stay stale however continue to increment. Reach us if you need to select a free preliminary and experience how BMS interface software functions.

 

Continue Reading

WINDOWS/ IOS/ ANDROID

12 Important Reasons Why You Should Choose WordPress for Your Website

Published

on

By

Choose Wordpress For Your Website

WordPress was launched in 2003, currently, it has been one of the most used CMS (Content Management Systems) in the world. WordPress development Australia is very much in demand.  Today, around 75 million websites use WordPress. Around 30% of websites are powered by WordPress. More and more businesses are using WordPress today to develop their website.

WordPress is a powerful Content Management System (CMS). CMS stands for a content management system, and it is a platform that allows you to manage your website by allowing you to employ a variety of options. As a result, you should utilize WordPress for your website as well.

Apart from all the above-mentioned things, we will tell you 12 major reasons why WordPress can be helpful to you.

12 Important Reasons Why You Should Choose WordPress For Your Website

1. Safe & Secure Platform

In present days, safety is one of the major concerns of entrepreneurs. Hackers have been more active in this era of technology. They are using new methods to attack the websites and steal the data or hack it. So, the owners and management should be very careful.

When you use WordPress, your website can be completely safe & secure from hackers and other online attacks. WordPress has all the security measures in place to avoid any type of attack on the website. Just you have to make sure that you download the plug-ins only from trusted sources.

2. Ready to Use

You can use WordPress instantly after installing it, you don’t need any type of configuration for it. This can save a lot of your time. Many things will be pre-installed in it, like social media feed, comments, etc. Many business owners want a tool that performs exactly what it says on the time, so the ability to use WordPress right away without any difficulty is another added advantage.

3. Freely Available

One major benefit of using WordPress is that it is free to use. So, small companies can also use WordPress for their business website. Also, the big companies have to run under their budgets, and so, for them also this can be very beneficial. Apart from this, you also don’t have to pay anything even if your page is seeing an enormous increase in traffic.

4. Easy to Use

Because WordPress is an open-source platform, you can improve and update the source code in any way you like. You can also enhance the appearance and performance of your website. Even if you are not technically competent, you can easily set up your website with WordPress, which would have been quite tough with alternative platforms. This is one of the most important reasons to use WordPress for your website.

5. SEO-Friendly

Today, the use of SEO is very important due to increased digitization. You can only rank your website if you have used proper SEO on your website. Otherwise, your website won’t rank and neither will the people who visit your site because people only click on the top results. And, this can affect your sales.

If you are using WordPress for your website, then Google will also favour your website and rank it higher. If you also want your website developed by using WordPress, then you should take help from a WordPress development company. They have experts who can build a professional website for your business.

6. Mobile-Friendly

Most of the people now use the internet on mobile and surf websites through mobile only. So, it is very important that your website is mobile-friendly, otherwise, you will lose many customers.

WordPress offers themes that are readily responsive for various devices like smartphones, tablets, etc. And, people can easily access your website. This is one more reason why you should choose WordPress for your websites.

7. Social Media Integration

Today, almost everyone uses social media today. In fact, the majority of the time on mobile goes on social media only. Therefore, as a business owner, you should take advantage of social media and especially the vast audience that is present on social media.

If you use WordPress, then WordPress will allow the users to post comments, views, etc. on your page by using their social media accounts. Also, it will be easier for the users of social media to engage with your website by using their accounts. This is a crucial reason why you should choose WordPress for your website, as it directly provides access to a vast audience.

8. Multimedia Support

The websites with the lowest bounce rates are usually those with a lot of multimedia. People using WordPress can easily integrate their videos. You also get the option to add audio, images, and many other types of media. By this, the visitors using your website can stay interested and engaged.

9. Customizable

By using WordPress, you get enormous options to customize your website. You can pick any theme that you feel is suitable for your brand and your website. You will get even more options if you buy premium themes of WordPress. You also get the option to add the features that help in delivering the better performance of your website. You can hire a WordPress developer Melbourne for all this work.

10. Schedule posts

With the help of WordPress, you can schedule your posts. It is impossible to be on screen the whole day, so in this case, WordPress can be helpful. You can write all the content together but you get the option to publish that posts at different times in the day. This is an amazing feature offered by WordPress.

11. Trusted Platform

WordPress is a trusted & reliable platform that is used by big companies in the world. Companies like Forbes, Walt Disney, etc. use WordPress. Today, WordPress holds around 60% of the modern CMS market. This shows the trust that the companies have in this platform.

12. Multi-User Capacity

WordPress supports multi-user capacity. So, if you have multiple teams, agencies, or freelancers, then you have to grant them access. And, with the help of WordPress, you can easily give access to any specific user that you want.

Conclusion

WordPress is a trusted & secure platform. It provides amazing features that make the work of business owners very easy. However, if you want to develop a professional website using WordPress, then you should take the help of wordpress development Australia. You will get a really professional website that can boost your brand awareness & visibility and ultimately increase your sales.

Continue Reading

APPS AND SOFTWARE

How Can You Revive Your Faded Phone Back Cover

Published

on

By

How Can You Revive Your Faded Phone Back Cover

Has your phone’s or laptop’s back cover faded beyond repair? You don’t like the iPad skin your father gave you? Are you dissatisfied with the look and feel of the hand-held gadget you’re now using? Don’t worry, though; equipment does wear down with time, but this has no effect on their efficiency. In terms of functionality, they are still adequate, but not in terms of aesthetics.

Most of us like to carry equipment that is attractive and capable of attracting attention. We are generally pleased with new hand-held devices since they are attractive and fashionable, but not with older ones. With regular usage, they fade and become jaded, and we feel the urge to replace them. However, replacing is an expensive business, and this is where we differ.

Rather than purchasing a new device, why not enhance the visual attractiveness of the one you already have? This seems exciting because it will not only save you money but will also allow you to show off your creative abilities. You can now customize the device’s skin to your taste. There’s no need to rely on someone else’s ideas and designs when you can create your own with relative ease.

Should you Customize your Phone Back Cover?

This is an obvious question, as we should seek to modify the skin of our device in order to make it appear attractive in the genuine sense. This will spare you the trouble of having to buy a new product while the old one is still in good working order. This is how phone skin designer software has changed the game and helped hand-held devices become more magical.

We can alter the phone or smartphone’s skin for a variety of reasons, including –

  • The device is cosmetically altered and given a new appearance.
  • You will not have to pay for a new gadget.
  • On the device’s skin, you can put your favorite images, designs, patterns, or colors.
  • The device can be given the appearance of a specific kind.
  • In a true sense, the back cover can be made to look brilliant and wonderful.
  • Users can show off their artistic side by customizing the smartphone with their preferred design.
  • There is no need to rely on designs produced for someone else.
  • A terrific method to personalize your phone cover and make it have the impact you want it to have.
  • Finally, there’s a chance to make the handheld device look fresh.
  • Get the enchantment that only a recently purchased item can provide.

Features Phone Cover Design Software:

We now have software that allows us to personalize the skin and back cover of any of our mobile devices. So, regardless of whether we have a laptop, a phone, or an iPad, we can now easily customize the back cover of any of them. The task-specific software we have is advanced in nature, with several features and functionalities.

Here are features and functionalities of the software –

1. Create your own customized skin design:

The software was created to assist users who have hand-held devices and want to personalize their device’s skin. They can design using a template or from scratch, as both methods can be employed for design objectives. The size and shape of the goods are irrelevant because any gadget’s skin cover can be altered in a matter of minutes.

All you have to do is choose the product you want to alter, and the rest is simple; even handling the product is not difficult. With almost minimal technological skills, you can design.

2. Choose any colors, text, or graphics:

Users can select any color from a wide gallery incorporated into the app. Everything is possible with the tool, from aligning the text to selecting the font of choice, from utilizing graphical effects to tinkering with photos. Cropping, rotating, and stretching photos to achieve the optimum visual impact takes seconds.

It’s also able to apply borders to the text or photos, as well as shadow effects. To top it off, photographs in any format may be uploaded to bring the rear cover to life. You can certainly think of anything to put the device back to life.

3. Leverage the power of 3D technology:

The software uses 3D technology to make product design look more realistic.

You can now touch the back cover from every angle and get a good feel for it. You may use a 360-degree perspective to custom develop your design and obtain the results you want. Because three-dimensional technology is used, there will be no discernible difference between the genuine design and the personalized design you make.

All of the visual effects that have been included and developed may be seen and previewed before deciding on the design for your back cover.

4. Compatibility across devices and web browsers:

The app for customizing your device’s back cover is not only simple to use but also cross-platform compatible. That is, you can access them from any device and use these online tools to their full potential. These programs are also multi-browser compatible, meaning they load quickly in any browser.

This also means you can access them regardless of the web browser you’re using. This feature aids in the smooth operation of the software as well as the easy expansion of their presence to new markets and consumers.

5. Simple front-end and admin panel:

It is not a problem for consumers or those who want to utilize phone skin designer software for commercial purposes to use it. It offers a user-friendly front-end interface and an equally user-friendly admin panel.

Sellers can integrate the tool with their e-commerce site and assist buyers with skin customization possibilities. The interface will load quickly, allowing users to take advantage of the features and customize the skin cover with ease. Learning to use the product is simple, and no one will have any problems at any point.

Conclusion:

The user can express their creativity by using product customization tools to create the greatest phone cases for themselves.

With the different customizing possibilities available, the user can turn their perception into reality. Finally, when you complete the design, preview it. Then Save, Pay and get it manufactured.

 

 

Continue Reading

Trending