At a glance
TAQA partnered with High Insight to implement SAP S/4HANA Group Reporting for financial consolidation, complemented by SAP Business Data Cloud for reporting and Group Reporting Data Collection (GRDC) for data transformation. The solution established a modern, integrated framework for consolidation and financial reporting.
The implementation automated key consolidation processes and enabled finance teams to gain faster, real-time visibility into consolidated financial results. By combining streamlined consolidation with flexible reporting and data transformation capabilities, TAQA accelerated its financial close and enabled finance leadership to access timely insights for faster and more informed decision-making.
The challenge
TAQA's consolidation landscape involved multiple SAP systems and different charts of accounts, creating complexity in bringing financial information together for group-level consolidation and reporting.
The consolidation process relied heavily on manual activities to collect, transform, map, and consolidate financial data from different sources. This made the close process more time-consuming and created challenges in maintaining consistency across entities and reporting requirements.
As the organization continued to grow and its reporting requirements evolved, TAQA needed a more integrated and automated approach that could standardize financial data and simplify the consolidation process.
The key objectives were to:
- Consolidate financial data from multiple SAP systems into a unified consolidation process
- Address differences in charts of accounts and financial structures across entities
- Reduce manual data collection, mapping, and consolidation activities
- Automate key financial consolidation processes and Fast close
- Enable real-time visibility into consolidated financial results
- Provide flexible reporting to support different management and financial reporting requirements
- Establish a scalable consolidation framework for future business needs
The High Insight Approach
High Insight designed a streamlined consolidation approach to address TAQA's multi landscape, different charts of accounts, and manual consolidation processes.
Using SAP S/4HANA Group Reporting, supported by GRDC for data transformation and SAP Business Data Cloud for reporting, High Insight standardized financial data, automated key consolidation activities, and simplified the overall consolidation process.
High Insight worked closely with TAQA's finance and technology teams to design, configure, integrate, and validate the solution, ensuring a smooth transition to a more automated and efficient consolidation process
Business Impact
The transformation gave TAQA a more integrated, automated, and responsive approach to financial consolidation, significantly simplifying the way consolidated results are prepared and reported.
Real-Time Consolidated Visibility
Finance teams gained faster access to consolidated financial results, providing management with timely visibility into group performance.
Faster Financial Close
Automation of key consolidation activities reduced manual dependencies and streamlined the close process, enabling faster financial closure.
Simplified Multi-ERP Consolidation
Financial data from multiple ERP systems and different charts of accounts could be brought together through a standardized consolidation and transformation process, reducing complexity across entities.
Flexible Reporting
The integration with SAP Business Data Cloud enabled flexible reporting and analysis, allowing finance teams to access consolidated information in formats aligned with different management and reporting needs.
Improved Finance Efficiency
By reducing manual data preparation and consolidation activities, finance teams were able to spend more time on reviewing results, analysing performance, and supporting business decisions.
Stronger Consolidation Control
A standardized consolidation process improved consistency and transparency across financial data, consolidation activities, and reporting.
Client perspective
“The new consolidation solution has significantly streamlined our financial close process. With faster access to consolidated results and more flexible reporting, our teams can spend less time on manual consolidation activities and more time focusing on analysis and business insights.”
