Role of service design and target operating model for finance transformation
Finance and finance processing are the major business activities that require a lot of observation, awareness, and process security. As it determines the entire business profitability and facilitates stronger customer loyalty, financing requires exclusive solutions to transform the entirety of the process into an effective infrastructure.
Planning a proper service design is imperative to deliver quality business processing and enhance the interaction between the company and its customers. Through the process of service designing, companies can create a sustainable financial experience for both ends.
Service Designing with SAP Finance
SAP Finance with SAP S/4 HANA facilitates service designing capabilities to help in shaping the new age finance transformation in a more efficient way.
Outcomes to expect out of service designing with SAP
- Streamlined finance operations.
- Eliminate disruptions in financial transactions.
- Highly impactful financial processing.
- Cost optimization and controlling
- Cost planning and analysis
- Benefit realization
- Reduced Revenue Leakage
- Optimized working capital
- Accelerated contract closing and settlements
- Modernized finance platform
- Single source of truth
Service designing is critical for determining these visioned outcomes out of any finance transformation. It helps define the finance journey and then execute the vision to the business infrastructure. Service designing aided by SAP S/4 HANA and SAP Finance helps retain sustained service delivery at every point of business expansion.
Target operating model is the futuristic model for any organization and requires a lot of planning in hindsight. It is based on the reports and previous process insights that could help build a better version of the current financial structure. It helps you identify the wrong comings, analyze the ways to eliminate the cause and bring up new strategies that could fit effectively.
While planning new financial strategies, it is important to consider the constraints that could happen while implementing the strategy. This would not only build a better infrastructure, but also a flexible one that can adapt to the constraints as it occurs without having to compromise on the improvement as an outcome.
Process digital transformation through SAP Finance and SAP S/4 HANA to adopt an accurate target operating model. Analyze the reliability of the model through standardization, automation, and cognitive analysis.
Service designing and target modeling help bring in people & ethics, standard accounting platform, and standard global process held together for better governance, a better understanding of people and culture, develop loyalty, better analysis, and better adaptation of technology.