SAP Financial Closing Cockpit

November 2015
Financial Closing- Business Challenges

• Time-consuming manual tasks such as journal entries, accruals, intercompany

reconciliations , and gathering of financial data from across different systems.

• Execute a complex series of tasks on time and in the correct sequence to meet reporting
deadlines

• Coordinate numerous people across different subsidiaries, divisions, time zones, and
software systems

• Standardize the closing cycle into a series of repeatable process steps.

• Ensure that close processes are consistent across organizational units

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Benefits of Financial Closing Cockpit

• Increased efficiency and greater control over the financial closing cycle

• Lower maintenance and administrative costs via standards-based, single product solution,
which is both powerful and intuitive

• Improved productivity through improved coordination and collaboration across distributed

organizational units and through an intuitive display of dependencies across task owners,
helping to ensure less time spent in communication lags and faster task execution.

• Rapid time to deployment via simple configuration and powerful administrative tools.

• Broad-scale deployment to all users across geographies and time zones via scalable,
server-based, enterprise class infrastructure.

• Comprehensive storage ability, which records the history of all tasks performed and by
whom, to support audit.

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Financial Closing Cockpit- Overview

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Financial Closing Cockpit- Implementation Steps
Create
Organizational Enhancement of the delivered
Hierarchies organizational hierarchies
Create Template Creation of uniform template for the
entire closing process
Create Tasks Determination of the individual
activities based on the
chronological process within the
org..structure.
Define Definition of programs and
Dependencies transactions preceding a program in
the template
Create Derivation of actual task lists from
Task List templates, incl. parameters for
variable of the program variants
Release
Transfer of configured task list to the
Task List application
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Determination of the
organizational Structure in
the Closing process.
Division of the Overall
Process Chain
Creation of the Structure for
Transactions and Programs
Specification of Program
Sequences Using
Predecessor Relationships
Implementation of the
Template in Actual Task List
Status Maintenance
Regarding Whether Task
List can be executed.
Financial Closing Cockpit 2.0 – Introduction

• Provides a global game plan perspective for the Financial Close

• Minimizes the process cycle time to close providing complete visibility to the closing tasks.

• Allows for easy integration with SAP BW/BI and Enterprise portal for reporting and SAP
BPC for Planning and Consolidation.

• Execute Closing tasks in Web application

• Centrally Define the responsibilities and schedules for each individual task.

• Efficiently manage and run your tasks during the close process,

• Adjust the schedules and responsibilities afterwards.

• Access all information concerning a close - this includes the status, duration, logs,
comments, and documents.

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Financial Closing Cockpit 2.0 – New Features

• New Task type External Job

 We can create tasks that you use to monitor jobs created or scheduled in a remote or the
local system using other external schedulers, such as IBM Tivoli Workload Scheduler, BMC
Control-M, and UC4.

• New Task Type Remote Flow Definition

 We can schedule flow definitions in remote systems. Financial Closing cockpit application
can retrieve the flow definition status and the scheduling and execution results from the
remote systems.

• Custom Variables at the Folder Level

 We can now also use custom variables at the folder level by adding them to the Custom
Variables section in the Create Subfolder and the Change Folder dialog box.

• Background Job Monitor

 It provides us with a central point of view for all the background jobs delivered with the
Financial Closing cockpit. We can check whether each background job is running and display
the job details and also find the Background Job Monitor in the new Customizing activity
Monitor Background Jobs.

• Paused Status for Task Lists

 We can no longer change the status of a task list back to Not Released once we have
released it. To change the task list, such as add, change, or delete a task, change the status
to Paused. When we are done making changes, change the status to Released.

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Financial Closing Cockpit 2.0 – New Features

• Improved Internal Control

 With the new Internal Control tab when you create a task, you can now define internal control
tasks, such as reconciliation and checking for configuration changes, as compared to normal
closing tasks, such as asset depreciation and inventory valuation.

• Enhancements to Change documents Monitor

 The status of a task list has changed.
 The status of a task has changed.
 A document has been attached to or changed for a task.
 A note has been created or changed for a task.
 A message has been sent for a task.
 A task has been locked or unlocked.
 New Column Task name is added to help more easily identify which task an entry is for.

• Deletion in Template Export and Import

 We can now delete folders and tasks by editing the comma separated values (CSV) files that
are created for an exported template. Prefix the letter d to the corresponding item ID or
document ID to mark a folder or task for deletion when importing the template.

More Control in Choosing Data for Transport

 We can now define whether you want to also transport the following data between systems:
 Global IDs, Automatically generated Global IDs, Updates to templates from task
groups, Profiles.

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Financial Closing Cockpit 2.0 – New Features

 Importing Organizational Units from Multiple Systems.

 Specification of Name and Owner for Jobs.

 More Information About SAP CPS Tasks on the Output Logs Tab.

 Better Experience when Changing Task Status.

 Better Experience when Executing Programs Using the Web Application.

 New Customizing Activities.

Customizing activity Category

Monitor Background Jobs General Customizing
Define Organizational Hierarchies Organizational Hierarchies
Define Organizational Units
Import Organizational Units

Define Significance Internal Control

Define Automation
Define Purposes
Define Profiles Template Maintenance

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Financial Closing – Task Creation

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Financial Closing – Task Creation

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Financial Closing – FIORI Integration.

 Financial Closing cockpit 2.0 is closely integrated with SAP FIORI analytical apps.

 Standard KPIs defined for the FCC 2.0

 Financial Closing Progress

 Get an Overview of the completion status of the tasks in closing cycle.
 Shows Number of tasks that are in open, In progress, with Errors and Completed
Status.

 Financial Closing Progress (Due Today)

 Get an Overview of the completion status of the tasks that are overdue today.

 Financial Close Tasks with Errors

 Displays the task with errors in a closing cycle

 Financial Close Overall Delay.

 Display the total number of delayed tasks in the closing cycle

 Financial Close History

  Track the historical close information to find out whether the financial close in the
previous posting periods was on track.

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FCC 2.0 FIORI apps – Financial Close History

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FCC 2.0 FIORI apps – Financial Close History

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FCC 2.0 FIORI apps – Financial Close History

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FCC 2.0 FIORI apps – Financial Close History

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FCC 2.0 FIORI apps – Financial Close History

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