SAP's Universal Journal powered by Blockchain!

One of the biggest updates in S4 HANA Finance is the Universal journal being a single document that holds and reports information from FI (Financial Accounting) CO (controlling), ML (Material ledger) and Account-based COPA.

As we move into Industry 4.0, integration between systems in the eco-system could see the future of Universal journal having extensible coding blocks which can capture and report additional data from 3rd party sources. The data could be designed to flow into the ACDOCA table or perhaps an extended virtual table.

This is will create the base layer for an SAP system that is integrated with Blockchain that will allow C-Level insightful reports that pull in data from both internal and external data points across the eco-system. Real-time verified data streams powered by Blockchain will lead to the execution of on-time ⏳ transactions (via smart contracts) and pro-active decision making. 📊

Solutions like this are already being built in the DeFi (Decentralised Finance) space, keen to see when the BIG players will join.

For more visit the free dedicated SAP Blockchain channel on:

https://discord.gg/Dv6aZwa

#futurearchitecture #dataservice #sap #sapleonardo #blockchain

Part 2 - Get the best out of your SAP Finance system.

As the Finance function moves to operating in "fusion" rather than isolation and having to be more agile than ever before, here are a few focus areas to set up properly to get the best out of an SAP Finance system.

#CPA #financegoals #accountingandfinance #digitalfinanceleader #SAP #CIMA 

SAP Sourcing powered by Blockchain. 🚚🛒

Scenario: SAP Info Records, Source of Supply & Purchasing orders executed & completed on the Blockchain.

The future of SAP custom developments could be calling Smart Contracts on the Blockchain services offered within the SAP HCP or by the #hyperscalers.

The in-built business logic in the smart contracts will automatically perform all key supplier verifications (i.e credit days, product quality, after-sales service, background checks, ethical score, price conditions, etc) and select the best supplier that meets the criteria set. In short, smart contracts can perform keys tasks of matching buyers purchasing requirements with the seller’s selling conditions & stock availability.

Solutions similar to these are already available as web app add-ons, on the SAP Store by Tata Consultancy Services - Intelligent Field Inventory Management. The add-ons are built on the SAP Leonardo platform and are proof that blockchain-based solutions will be part of SAP solutions in the future.

What's more, these smart contracts can also be made public to be used by any other enterprises using SAP that require a similar functionality powered by Blockchain. #newbusinessmodels

For more SAP + Blockchain scenarios, visit the free dedicated SAP Blockchain channel (bc_sap) on Discord.

https://discord.gg/Dv6aZwa

#futurearchitecture #smartcontracts #fioriapps  #sapleonardo  #blockchaintechnology #sap

Blockchain as a Service (BaaS)

As more organizations are beginning to explore Blockchain and prepare for ways to integrate it with their on-premise systems, this has seen a rise of offerings such as,  Blockchain as a Service (BaaS) that makes the adoption of Blockchain easy and quick. 

Blockchain as a Service is making large strides in enabling organizations to take the first step into adopting Blockchain with minimal effort & a low cost of implementation.

Read how BaaS offerings could benefit organizations. 

If you are keen to get started on exploring a BaaS solution, reach out and I'll be happy to help.

#sap #blockchainasaservice #blockchain #learnsharerepeat #platforms

Delivering SAP Solutions the Agile way !

 With the ever-changing business environment where the pace of change is faster than ever before, being AGILE is a super-power on its own. Large-scale projects are now being delivered on an agile methodology. The possibility of using AGILE for complex projects is further validated when you see organizations like NASA developing critical applications for the Space Launch System (SLS) and other major projects using AGILE.

Here are some basic rules, tips & processes to run an efficient agile SAP solution development & delivery.

Some of the key advantages of using AGILE in SAP implementation

• Flexibility to change to cater to changing business requirements
• Priority-based development
• Frequent delivery of software
• Outcomes arising from deliverable are faster to address
• Leads to higher customer satisfaction as they get to see the program being built in every sprint
• Lowers the total IT cost, as resources are shared across multiple tasks
• High visibility and measurable results.
• The agile nature leads to better coordination as stakeholders are involved at every stage of the project
• Risks are identified early and can be managed in time

#agilemethodology #sap #projectmanager #activate #scrummaster

Blockonomics - Some key aspects of the economics of Blockchain.

As Blockchain gains more prominence, it becomes imperative to understand the wider economic impact of such an emerging technology. Here is a brief highlight of some key aspects of the economics of Blockchain.

#blockchain #sap #economics

Part 1 - Getting the best out of your SAP Finance system

Getting the best out of your SAP Finance system is not about configuring & activating all available functionality that the system has to offer, but rather to design & assess the system's processes/outputs on achieving the enterprise-wide key financial business objectives.

The Finance function has seen a significant shift to operating in-fusion rather than isolation, make sure your system is set up to enable this change.

#sap #CIMA #CPA #financegoals #accountingandfinance 

Blockchain in Accounting - The End of Double Entry ?

 

For research papers on Blockchain per domain, visit the below channel.

Channel: https://discord.gg/RJV9VTYCr4