Don’t Roll the Dice with Your Future … Find Out What Happened at SAPinsider Financials 2018 …

  The first event of 2018 is under our belt and we’re pleased to say it was a great success. The Hanse Orga Group companies, including Dolphin and e5 Solutions all gathered at the Wynn Hotel in Las Vegas to discuss the future of Finance for customers running SAP systems. We were thrilled to get the opportunity to meet so many different finance leaders from across the US, Canada and the rest of the world during the week. Everyone we talked to was eager to get the information they needed to adapt their SAP systems and processes to support strategic growth in the coming years. The week started off with a keynote address from Todd McElhatton, CFO of SAP North America on Digital Finance Transformation. He spoke about how CFOs can support digital transformation by leveraging SAP systems to improve cost efficiency, expand digital services, add intelligence to products and services, and proactively identify risk and compliance concerns. According to Todd, CFOs need the right platform and tools in place to do this, and they need to do it now or risk being left behind. CFOs who help lead this change will be able to benefit from more efficient and engaged teams, become more involved in business partnering rather than managing back office operational tasks, and drive greater innovation and growth across the organization. Later that day Hanse Orga CEO, Sven Lindemann was interviewed by Rizal Ahmed of SAPinsider on the biggest challenges facing CFOs right now. According to Sven the three biggest challenges for CFOs are: Transparency, Centralization and managing Risk of Fraud and Compliance. "What we see is a need to automate processes along the entire financial value chain. We see everything ending in a Payment. If you see an Order to Cash or a Procure to Pay process it ends in a payment. For Order-to-Cash this starts with Know Your Customer, credit management, collections, cash application and ends in payment. For Procure-to-Pay, you receive an invoice which ends with a payment sent to the bank. Combining these processes and automating them provides CFOs with essential cash visibility across the organization. And you have to know this as an organization ― how much cash you have on hand.... We at Hanse Orga Group are working on solutions that will help CFOs gain the transparency they need to meet the challenges facing them today.” As in previous years, Financials 2018 was co-located with GRC 2018, therefore, many attendees were interested in learning more about the quickly approaching May 2018 deadline for the General Data Protection Regulation (GDPR). GDPR is a new data privacy regulation that applies to European residents for all companies worldwide whether the person is a customer, supplier, or employee. James Baird, Senior Data Consultant of Dolphin, a member of the Hanse Orga Group, was there to let everyone know that there’s no need to panic. “GDPR is similar to many existing privacy regulations such as PII and PCI, so if you already comply with these regulations, you’re off to a good start” said James. “However, there are some differences between these regulations and GDPR. Companies will need to know how to address “the right to be forgotten” and other unique GDPR requirements by the deadline – sorry, no extensions.” Many of his points were reflected in his recent article “Putting a Retention Plan in Place: 7 Steps to Prepare for GDPR”. We learned many other interesting titbits while at the event. For instance, did you know ….?

  • “74 % of companies experienced payment fraud in 2016” according to a recent AFP survey. Brian Shannon and Ingo Czok discussed this statistic as the explained how to control your upstream and downstream Procure to Pay processes to protect against fraud.
  • “42% of companies in the US that delay payment are doing so because of insufficient funds” according to Atradius Payment Practices. Andy Büch discussed this statistic in his presentation on Disputes and Collections. According to Andy it’s important to know if your customer is not ABLE to pay or is not WILLING to pay because how you handle collections will be very different.
  • “73% of Finance organizations see end-to-end O2C processes as critical or very important” based on a recent survey of finance leaders by Hanse Orga Group. Marko Kling brought up this data point when he discussed how to achieve greater automation and centralization of O2C processes using an O2C Factory.
  • “Less than 50% of companies are capturing available discounts from suppliers” according to a recent survey by Dolphin and Shared Services Link. Brain Shannon used this statistic to discuss how automation can be used to auto-post invoices so companies can take advantage of available discounts.
  • "Three ways to protect sensitive electronic payments are 1) Strict and well documented access rights, 2) Strong encryption, and 3) ISO 27001 and SSAE 16 certification” according to Ingo Czok who discussed how it is possible to achieve simple and secure payment solutions in the Cloud or through a Managed Service.
We were particularly proud of our two customers who gave excellent presentations on their journey toward process improvement:
    • Goldcorp recounted how it was one of the first customers to implement SAP S/4HANA Treasury and Cash Management functionality. The session drew a large crowd of people who wanted to know how the company was able to make the transition to S/4HANA and jettison its legacy Treasury Management Systems (TMS). The company’s new SAP-centric treasury system has seamless integration with the company’s various interest/FX rate and trading systems and provides real-time reporting capabilities which are essential for efficient treasury operations. Using a unique sidecar approach, the company minimized its risk and disruption by implementing S/4HANA in parallel with its existing SAP ECC system. With this approach the company was able to continue daily operations on its stable SAP ECC system while benefiting from the new advanced features available with S/4HANA.
    • Vishay Intertechnology shared its lessons on how to cajole users into adopting process improvements. While they say you can’t teach old dogs new tricks, Vishay proved that every user has unique needs and provided the audience with creative strategies for getting those “dogs” to embrace change to drive greater process efficiency.
Want more information on what else happened at Financials 2018 and GRC 2018? Check out the following links or email us at contact@dolphin-corp.com to receive a copy of the presentations Hanse Orga Group delivered while at the show.

Don’t Roll the Dice with Your Future … Find Out What Happened at SAPinsider Financials 2018 …

 

The first event of 2018 is under our belt and we’re pleased to say it was a great success. The Hanse Orga Group companies, including Dolphin and e5 Solutions all gathered at the Wynn Hotel in Las Vegas to discuss the future of Finance for customers running SAP systems.

We were thrilled to get the opportunity to meet so many different finance leaders from across the US, Canada and the rest of the world during the week. Everyone we talked to was eager to get the information they needed to adapt their SAP systems and processes to support strategic growth in the coming years.

The week started off with a keynote address from Todd McElhatton, CFO of SAP North America on Digital Finance Transformation. He spoke about how CFOs can support digital transformation by leveraging SAP systems to improve cost efficiency, expand digital services, add intelligence to products and services, and proactively identify risk and compliance concerns. According to Todd, CFOs need the right platform and tools in place to do this, and they need to do it now or risk being left behind. CFOs who help lead this change will be able to benefit from more efficient and engaged teams, become more involved in business partnering rather than managing back office operational tasks, and drive greater innovation and growth across the organization.

Later that day Hanse Orga CEO, Sven Lindemann was interviewed by Rizal Ahmed of SAPinsider on the biggest challenges facing CFOs right now. According to Sven the three biggest challenges for CFOs are: Transparency, Centralization and managing Risk of Fraud and Compliance.

“What we see is a need to automate processes along the entire financial value chain. We see everything ending in a Payment. If you see an Order to Cash or a Procure to Pay process it ends in a payment. For Order-to-Cash this starts with Know Your Customer, credit management, collections, cash application and ends in payment. For Procure-to-Pay, you receive an invoice which ends with a payment sent to the bank. Combining these processes and automating them provides CFOs with essential cash visibility across the organization. And you have to know this as an organization ― how much cash you have on hand…. We at Hanse Orga Group are working on solutions that will help CFOs gain the transparency they need to meet the challenges facing them today.”

As in previous years, Financials 2018 was co-located with GRC 2018, therefore, many attendees were interested in learning more about the quickly approaching May 2018 deadline for the General Data Protection Regulation (GDPR). GDPR is a new data privacy regulation that applies to European residents for all companies worldwide whether the person is a customer, supplier, or employee. James Baird, Senior Data Consultant of Dolphin, a member of the Hanse Orga Group, was there to let everyone know that there’s no need to panic.

“GDPR is similar to many existing privacy regulations such as PII and PCI, so if you already comply with these regulations, you’re off to a good start” said James. “However, there are some differences between these regulations and GDPR. Companies will need to know how to address “the right to be forgotten” and other unique GDPR requirements by the deadline – sorry, no extensions.”

Many of his points were reflected in his recent article “Putting a Retention Plan in Place: 7 Steps to Prepare for GDPR”.

We learned many other interesting titbits while at the event. For instance, did you know ….?

  • “74 % of companies experienced payment fraud in 2016” according to a recent AFP survey. Brian Shannon and Ingo Czok discussed this statistic as the explained how to control your upstream and downstream Procure to Pay processes to protect against fraud.
  • “42% of companies in the US that delay payment are doing so because of insufficient funds” according to Atradius Payment Practices. Andy Büch discussed this statistic in his presentation on Disputes and Collections. According to Andy it’s important to know if your customer is not ABLE to pay or is not WILLING to pay because how you handle collections will be very different.
  • “73% of Finance organizations see end-to-end O2C processes as critical or very important” based on a recent survey of finance leaders by Hanse Orga Group. Marko Kling brought up this data point when he discussed how to achieve greater automation and centralization of O2C processes using an O2C Factory.
  • “Less than 50% of companies are capturing available discounts from suppliers” according to a recent survey by Dolphin and Shared Services Link. Brain Shannon used this statistic to discuss how automation can be used to auto-post invoices so companies can take advantage of available discounts.
  • “Three ways to protect sensitive electronic payments are 1) Strict and well documented access rights, 2) Strong encryption, and 3) ISO 27001 and SSAE 16 certification” according to Ingo Czok who discussed how it is possible to achieve simple and secure payment solutions in the Cloud or through a Managed Service.

We were particularly proud of our two customers who gave excellent presentations on their journey toward process improvement:

    • Goldcorp recounted how it was one of the first customers to implement SAP S/4HANA Treasury and Cash Management functionality. The session drew a large crowd of people who wanted to know how the company was able to make the transition to S/4HANA and jettison its legacy Treasury Management Systems (TMS). The company’s new SAP-centric treasury system has seamless integration with the company’s various interest/FX rate and trading systems and provides real-time reporting capabilities which are essential for efficient treasury operations. Using a unique sidecar approach, the company minimized its risk and disruption by implementing S/4HANA in parallel with its existing SAP ECC system. With this approach the company was able to continue daily operations on its stable SAP ECC system while benefiting from the new advanced features available with S/4HANA.
    • Vishay Intertechnology shared its lessons on how to cajole users into adopting process improvements. While they say you can’t teach old dogs new tricks, Vishay proved that every user has unique needs and provided the audience with creative strategies for getting those “dogs” to embrace change to drive greater process efficiency.

Want more information on what else happened at Financials 2018 and GRC 2018?

Check out the following links or email us at contact@dolphin-corp.com to receive a copy of the presentations Hanse Orga Group delivered while at the show.

Our Executives Predict What’s To Come in 2018

It was a record setting cold start to 2018 but that doesn’t mean that there aren’t burning issues that IT and Business leaders need to keep watching over the next 12 months.

We asked our executives what their predictions were for 2018 and this is what they had to say.

 

Sven Lindemann: Centralize Payments to Control Cash Flow, Improve Compliance and Prevent Fraud
“Centralization, fraud prevention and compliance are all major topics that clients are focusing on at the moment. Everyone wants to discuss these issues, and organizations are increasingly open to moving to the cloud in order to address these areas more effectively…. Increasingly we see companies wanting to approach [Payments] in a centralized way so that they can make sure they are working with the right partners, paying the right amounts and receiving the expected sums.”

Learn more about the payment challenges facing global organizations by reading Sven’s latest article in Treasury Today.

 

Dr. Werner Hopf: Risk and Compliance: Driving the Need for Chief Data Officers

“With the impending onslaught of compliance requirements, the regulation of data will be paramount in 2018.  Companies needs to be keenly aware of where they store and manage data over the residual life cycle to not only be in compliance, but – more importantly – to protect their organizations and customers from unnecessary risk and associated costs. We will see a spike in the specific need for Chief Data Officers, as this role becomes paramount and perceived as highly valuable within the enterprise.”

Read Dr. Hopf’s predictions and other data-related predictions from industry leaders at “Analytics in 2018: AI, IoT and multi-cloud, or bust”, ZDNET

 

Vishal Awasthi: Robotics and RPA: Use Wisely

“Robotics is here to stay, yet it is not the panacea.  Robotics and RPA can offer great value to the enterprise by cutting costs, eliminating manual errors and freeing up high-value employees. However, it’s imperative to understand that there is a threshold and “dark side,” if not managed properly. For the classic rules based RPAs, if the rules get too complex, or get setup by business analysts not familiar with all the nuances of the processes, RPA can produce incorrect results and put companies at risk. This is a classic case where you gain efficiency at the cost of effectiveness. Since people put machines to higher levels of accountability compared to humans, this could be a deathblow to such systems. This problem could be even worse for the Machine Learning based Robotics systems as the Machine Learning models are notoriously opaque.  Therefore companies need to be aware of both the pros and cons of RPA to ensure they’re implementing it for processes that will truly benefit from RPA – and properly balancing it with human oversight and processing.”

To find out more about Vishal’s latest thoughts on the latest technology trends on Robotics, AI, and more follow him on Twitter @vishalaw

 

Brian Shannon: Transparency and Secure Access with Blockchain
Blockchain is here and now, and it will continue to gain traction as it provides transparency to the supply chain – especially in complex supply chain industries, such as the automotive and retail industries. Blockchain securely grants access to all transactions that are taking place across the entire ecosystem. We used to think of blockchain within the context of the banking industry, yet the technology is rapidly gaining traction in the automotive and retail world.  Blockchain-ready transactions is a concept we will talk more about in 2018.”

Find out more about Blockchain trends in “Predictions 2018: Why Blockchain is Ready to Break Out in the Enterprise”, eWeek