Sto: SAP SEM-BCS and SAP BO Disclosure Management for automated consolidated financial statements
- Success stories
- Business Objects, Data Science, disclosure management, consolidation, planning, predictive analytics, forecasting
- 2 min reading time
Dr. Yvonne Avaro
SAP SEM-BCS | Re-Design of IFRS
Notes in the annual financial statements:
Optimisation of the consolidated financial statements automated by means of SAP SEM-BCS
and SAP BO Disclosure Management
About Sto SE & Co. KGaA
Sto SE & Co. KGaA is a leading international manufacturer of thermal insulation composite, coating and curtain wall systems as well as paints, plasters and varnishes. With the support of s-peers AG, the company has successfully restructured and optimised its automated group reporting system. New layouts were created within the SAP SEM-BCS consolidation system - combined with a realignment of the chapter structure in SAP BO Disclosure Management to enable efficient and flexible creation of annual reports. In addition, the previous query views in SAP BO Disclosure Management were replaced by newly modelled queries in order to simplify use and adaptation.
The task
The SAP SEM-BCS component offers several standard modules for consolidation in large companies. Through the targeted use of these modules, the data processing in the closing process should be automated. The optimisation of the chapter structure in SAP BO Disclosure Management was also accompanied by the challenge of reliably ensuring the increase in data quality in the consolidated financial statements. Furthermore, the manual workload had to be significantly reduced - among other things, by means of the overriding goal of creating stringent IFRS Notes. Overall, the task was to increase data quality and guarantee the elimination of redundancies through automation.
Requirements
- Expansion of the SAP BO Disclosure Management
for the purpose of improved automation and process optimisation of the consolidated financial statements - Automation and quality optimisation of the annual financial statement
- Rebuild IFRS Notes for automation plus internal and external quality optimisation
Solution
- Redesign of the database
- Create new balance sheet and income statement items
- Create new layouts for data entry
- Redesign of the chapter structure in SAP BO Disclosure Management
- Modelling and implementation of new queries to replace outdated and difficult to customise query views within SAP BO Disclosure Management.
- Chronological structure of the annual report
Highlights
- Integration of all necessary process steps in the SEM-BCS consolidation monitor with the help of customer-defined measures
- Significant reduction in manual effort and thus error-proneness, resulting at the same time in great time savings
- Simple and uniform data provision even for company units that do not have an SAP system in use themselves
- Creating more effective steering options through accelerated and standardised
reporting
Technologies
- SAP SEM-BCS
- SAP Business Objects (BO) Disclosure Management
- SAP BW
- SAP-BEx-Toolset
