GROW with SAP unveils finance and HR add-on packages

Published: 02/May/2024

Reading time: 1 mins

Key Takeaways

⇨ Single toolkits for digital banking, advanced treasury and risk management, advanced compliance automation and core HR

⇨ Helps to boost visibility of payment value chain, manage risk, standardise processes and centralise people data

⇨ The digital banking package also available for RISE with SAP customers

SAP has unveiled new add-on packages for its SME and midmarket cloud offering GROW with SAP, centred on finance and human resources.

The add-on packages – which integrate cloud, infrastructure and services into single toolkits – are for digital banking, advanced treasury and risk management, advanced compliance automation and core HR.

SAP said the packages aim to simplify everyday work, steer regulatory compliance and help optimise the workforce for customers, by providing a company-wide view to strengthen financial and HR management practices.

The digital banking package offers a fully integrated payment process, allowing customers to connect their banks, financial institutions, and payment service providers directly to SAP S/4HANA Cloud Public Edition. Payment and statement processes can also be integrated with SAP S/4HANA Cloud to provide end-to-end visibility across an organisation’s entire payment value chain.

This is also made available to RISE with SAP customers.

The advanced treasury and risk management package helps customers mitigate financial risks in investments while using fewer resources. It captures exposure data, classifies and qualifies risks and helps with making smart investments.

The advanced compliance automation package helps finance teams transform and standardise their processes on a global scale while adhering to local standards. It also helps meet e-invoicing mandates while ensuring order-to-cash processes remain efficient and that internal controls are in place to safeguard financial data, policies and processes.

The package has two elements – a document and reporting compliance solution and a risk and assurance management solution.

The Core HR add-on integrates SAP SuccessFactors Employee Central to SAP S/4HANA Cloud, acting as the source of people data. The aim is to tear down silos between HR and Finance through a common data model, helping drive continuous alignment and support end-to-end processes, business-wide insights, and improved user experiences.

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