Sarbanes-Oxley: Speed Your Closing Processes with BW and SEM

  • by Peter Jones, BI Solution Architect, M16 Solutions
  • October 1, 2003
One result of the Sarbanes-Oxley Act of 2002 is that companies will need to close their books faster. BW and SEM offer functionalities and applications that help you achieve the fast close, including process chains, Business Consolidations System, and the Corporate Performance Monitor. Learn how you can use each of these to speed your closing.

 

By now, you are aware that the Sarbanes-Oxley Act (SOA) of 2002 will affect the methods you use for your core business processes. The closing process is a case in point. The Act requires companies to close their books faster and simultaneously increase the level of detail and in-depth analysis. This is where SAP BW comes into play. BW has many touch points not only during your closing processes, but also during two other processes that have a direct effect on the fast close: data consolidation and risk-management analysis.

To help you with your fast-close, data-consolidation, and risk-management processes, SAP provides a number of tools and functionalities either in BW or that work with BW. Let me show you how you might use these tools and functionalities.

Peter Jones

Peter Jones is a business intelligence solution architect in the areas of CO, EC, SAP BW, BI, BusinessObjects, Planning and Consolidation (BPC), and SEM for MI6 Solutions. He is certified in all these areas and is a subject-material expert for SEM, CO, BI, and BPC, with over 14 years of experience in these areas working for SAP and MI6 Solutions. Currently, he is involved in projects incorporating SAP BW 7.4, HANA, BPC 10.0, and EPM 10.0. He has consulted in all those areas for the last nine years. Peter was an SAP instructor for seven years and has written several books about SAP NetWeaver BW, FI/CO, and has recently revised his book about BPC Implementation to version 10.1. He is a contributor to Best Practices for Financial Reporting in SAP, an exclusive anthology of articles that delivers unparalleled guidance on how to optimize financial reporting processes with SAP applications.

See more by this author


Comments

No comments have been submitted on this article. 


Please log in to post a comment.

To learn more about subscription access to premium content, click here.