SAP Financial Closing Cockpit


What Is SAP Financial Closing Cockpit?

SAP Financial Closing Cockpit is a comprehensive solution that enables you to manage all aspects of the financial close process. It provides an end-to-end view of your company’s financial position, so you can make better decisions and streamline the entire process. Using SAP Financial Closing Cockpit, finance and accounting teams can close the books more efficiently with a single point of entry for all financial data and transactions and robust reporting and analysis features, including drill-down and pivot capabilities.

What Is SAP Financial Closing Cockpit?

SAP Financial Closing Cockpit is a comprehensive solution that enables you to manage all aspects of the financial close process. It provides an end-to-end view of your company’s financial position, so you can make better decisions and streamline the entire process. Using SAP Financial Closing Cockpit, finance and accounting teams can close the books more efficiently with a single point of entry for all financial data and transactions and robust reporting and analysis features, including drill-down and pivot capabilities.

Key capabilities include:

  • Automate financial close processes and improve accuracy
  • Consolidate data from multiple SAP and non-SAP systems in a single view
  • Manage your company’s liquidity and cash flow
  • Gain insights into your company’s performance with financial reports and dashboards
  • Ability to consolidate financial data from multiple source systems.

Key Considerations for SAPinsiders  

Enhance SAP Financial Closing Cockpit functionality with third-party integrations. SAP Financial Closing Cockpit offers a wide range of features to help you streamline the financial close process. Organizations can integrate process automation with third-party providers to accelerate closing workflows and reduce closing task lists.

Confirm manual closing processes and spreadsheet utilization requirements to determine the best use cases for SAP Financial Closing Cockpit. Finance and accounting managers using SAP Financial Closing Cockpit in ECC 6.0 can also automate manual processes and collect spreadsheet information easier by creating custom-developed tables to capture tasks and information.

Accelerate closing tasks in SAP Financial Closing Cockpit with updated closing templates. Finance managers can configure the closing template in SAP Financial Closing Cockpit to update important parameters automatically based on the closing hierarchy and the critical date of the task list. As a result, SAP customers can reduce the number of variants needed to run a single scenario in various programs, which helps reduce the number of closing tasks.

6 results

  1. SAP Financial Close

    Accelerating the Financial Close Process: BlackLine Launches 5-Day Fast Track for Mid-Size Organizations 

    Published: 15/August/2023

    Reading time: 2 mins

    Finance leaders at mid-sized organizations are under increasing pressure. They face requests to enhance the efficiency of the financial close process, yet many have budget constraints that make it more difficult to leverage emerging technologies that can help in this area. BlackLine's recent announcement of their 5-Day Fast Track program seems to be in direct…
  2. Factors Driving Financial Close Transformation

    Published: 20/April/2023

    Reading time: 2 mins

    In this post, we will explore the drivers behind why organizations are overhauling their financial close strategies and procedures. In SAPinsider’s Financial Close Transformation report, most respondents surveyed either agreed or strongly agreed that their organization’s financial close processes and technologies are too reliant on manual methods and legacy tools. Outdated manual tools and methods…
  3. SAP Environment

    Automating Your Financial Consolidation Process Using Automatic Jobs and Job Templates

    Published: 04/April/2023

    Reading time: 9 mins

    Consolidating data can be difficult, as users must take time to validate its quality. This process can be made more difficult in complex environments and organizations. One of the top tools at the disposal of SAP users for this process is SAP S/4HANA Group Reporting. The product allows users to created automatic jobs and templates…
  4. Advanced Financial Closing

    The entity close is a key milestone in every company's record to report process. SAP has a new Cloud service advanced financial closing that can help your company orchestrate the close for improved efficiency and compliance. Attend this session to: •See the solution in action •Learn how SAP S/4HANA Cloud for advanced financial closing can…
  5. A Look at Current SAP Marketplace Trends

    Published: 16/January/2020

    Reading time: 3 mins

    SAPinsider recently sat down with an expert in the SAPinsider community, Rohana Gunawardena, Director – SAP Practice, Exium Inc., to discuss some of the trends he’s seeing in the marketplace. A Major Priority for Finance Company CFOs A big priority for SAP customers in the finance industry right now, says Rohana, is making the monthly…
  6. How Well Do You Know Your SAP Financial Close?

    Published: 16/October/2017

    Reading time: 1 mins

    Audio pioneer Dolby Laboratories, which has been delivering audiophiles a superior sound and sight experience since the 1970s, decided in 2016 that it wanted an equally stringent level of quality assurance for its business process testing. The business sought a risk-based automated testing solution to reduce or eliminate regression test coverage gaps and lengthy testing…