Achieve greater efficiency through the collaboration of human and artificial intelligence
Successful corporate management hinges on the availability of information that is relevant for decision-making. Besides actual data, this mainly pertains to planning data, which must still be up-to-date at the moment decisions are made. Rolling forecasts can serve as a valuable addition to annual operational planning to ensure this.
Creating planning data requires expertise. This involves comprehending the connections between performance indicators and their internal or external influencing factors. Previously, this understanding had to be repeatedly established through labor-intensive analyses and calculation. With the help of AI, these tasks can now be significantly simplified and expedited. In other words: AI can enhance the efficiency and effectiveness of generating planning data.
SAP's offer for AI-assisted financial planning:
- Under the term "Smart Predict", SAP provides preconfigured forecasting methods within its Software for Analytics Cloud (SAC).
- Utilizing time series forecasts, planning data for upcoming periods can be automatically calculated based on incurred costs and revenues. These forecasts consider trends and seasonal patterns.
- By using classification and recourse methods, the relevant influencing factors for performance indicators can be identified. This ensures that the planning team concentrates on the relevant influencing factors.
- Moreover, SAC introduces a Monte Carlo simulation for the first time. Unlike previous simulations that only featured a "what-if" query, SAP now incorporates probability distributions for key influencing factors. This allows for the first time to predict intervals with probabilities of occurrence for required performance indicators.
- SAP does not restrict its development in the AI environment only to SAC. The SAP Databricks platform provides comprehensive forecasting procedures and additional functions for AI. Tailored individual solutions can be provided through in-house programming.
Our service offer for AI-assisted financial planning
Years of expertise in designing and implement planning processes underpin our service offer for AI-assisted financial planning:
- The analysis of the planning steps and dependencies between these planning steps serves to identify inefficiencies.
- During this analysis, we consistently consider the information needs of decision-makers to ensure that the planning data produced aligns with the decision-making requirements of your management team.
- Leveraging the SAP Best Practice solution for integrated financial planning offered by SAP, we create the ideal framework for your future planning processes concerning annual planning and forecasts.
- The result is a combination of planning steps with AI-assistance and traditional planning steps that actively engage your employees.
- We assist you in developing a data model with the right structure for dimensions and key figures, thereby establishing the foundation for the seamless and rapid implementation of forecasting methods.
- We guide you on what to consider when managing the parameters of the forecasting methods.
- In line with your specifications, we develop data models that define the key figures subject to influence and their probability distributions.
- We collaborate with you to establish the data connection between the data model and your ERP system.
We are happy to advise you!
Figure 1: Time series forecast of costs for the combination of cost element and cost centre.
Figure 2: Result of the Monte Carlo simulation for the company profit.
Enhance your planning processes and elevate the informational quality of your planning data. We will be happy to advise you.
Please complete the form to contact us. We will get in touch with you as soon as possible.
We are labelled and certified
