At a glance
Omni Devices partnered with High Insight to modernize and automate its financial consolidation processes using SAP S/4HANA Public Cloud with Group Reporting. The transformation streamlined consolidation and intercompany eliminations, enabling a faster financial close, reducing manual intervention, and giving finance leadership greater visibility and confidence in consolidated financial results.
The challenge
As Omni Devices continued to evolve its finance operations, there was an opportunity to move away from manual consolidation activities and establish a more automated and integrated approach.
The organization needed to:
- Automate financial consolidation processes
- Streamline intercompany eliminations
- Reduce manual intervention
- Accelerate the financial close cycle
- Improve the timeliness and visibility of financial reporting
- Establish a scalable consolidation framework within a cloud environment
The High Insight Approach
High Insight brought its specialized expertise in SAP Planning, Reporting and Consolidation to implement an automated financial consolidation solution using SAP S/4HANA Public Cloud - Group Reporting.
The implementation focused on standardizing and automating key consolidation activities, including intercompany eliminations, to simplify the overall consolidation process and accelerate the financial close.
High Insight worked closely with Omni Devices’ finance and technology teams to understand existing consolidation requirements, design the solution, configure Group Reporting, automate consolidation processes, and validate the results to ensure a smooth transition to the new consolidation process.
Business Impact
The transformation enabled Omni Devices to move from a largely process-driven consolidation approach to a more automated, standardized, and efficient financial close process
Streamlined Consolidation
The consolidation process was standardized within SAP S/4HANA Group Reporting, creating a consistent approach to managing financial consolidation across the organization.
Automated Intercompany Eliminations
Intercompany elimination activities were automated, simplifying one of the most critical and time-consuming areas of the consolidation process and reducing manual dependencies.
Accelerated Financial Close
With key consolidation activities automated and standardized, finance teams were able to complete the consolidation cycle more efficiently, contributing to a faster financial close.
Improved Financial Control
The structured consolidation process provided greater consistency and transparency across consolidation activities, strengthening control over the preparation and reporting of consolidated financial results.
Better Management Visibility
Faster availability of consolidated information enabled finance leadership to gain earlier visibility into financial performance and spend more time on analysis and decision-making rather than consolidation activities.
Client perspective
“The new environment has given our teams greater confidence in the reporting process while significantly reducing the effort required to complete each reporting cycle.”
