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.

Looking Back on 2017: Increasing Global Business Complexity, New Regulation Concerns, Payment Fraud and Robots!

As we hurtle towards the end of December, it is hard to believe that 2017 is almost over. It has been an eventful year for us at Dolphin. In May, we joined the Hanse Orga Group and we began the transition from being a North American-based company to a truly global enterprise.

We are very excited about the possibilities that the future holds as part of this larger organization as we bring our data and process solutions to the rest of the world. However, as the year winds down, we thought we would take some time to review the biggest trends we saw over the past 12 months.

SAP HANA and S/4HANA Still Dominate the Conversation for SAP Customers

For those of us in the SAP ecosystem, SAP HANA and SAP S/4HANA continue to be the main topic of conversation.

In 2017 we had several customers share their stories about the move to HANA both at ASUG events including the ASUG Annual Conference in Orlando and at SAP TechEd. One thing we learned from these customers is that whether you are moving quickly to SAP HANA (Dr Pepper Snapple Group) or taking a few years to make the transition (Lanxess), good data hygiene, including data archiving, is an important prerequisite for moving to the next generation of SAP systems.

Dolphin CEO Dr. Werner Hopf and Sr. Solution Architect Rob Jackson both had events this year discussing various strategies for making the transition to SAP HANA easier. We also received SAP Certification for the Dolphin Process Tracking System for Accounts Payable. Dolphin is very proud of our dedication to keeping our products aligned with the latest SAP technical innovations so we can help our customers make the transition to SAP HANA or S/4HANA as seamless as possible.

Learn More …

Corporate Mergers and New Regulations Require New Strategies for Managing Data and Documents

The trend for large companies that run SAP systems to acquire new companies or divest divisions that are not part of the company’s core business continued in 2017. This rapid onboarding or separation of businesses requires companies to re-evaluate the way they manage and retain data and documents across the new enterprise. Both Lanxess (formerly Chemtura) and Nexeo Solutions discussed the impact of recent corporate changes and the benefits of selectively retaining or carving out data that was no longer required by the new company.

New regulations also pose a challenge for many of our customers. In 2017 many companies became aware of the General Data Protection Regulation (GDPR), which goes into effect in May 2018. This regulation will require any company that does business with an individual in Europe to protect the privacy of the data it collects from that individual whether they are a customer, supplier, or employee. Unsure if the GDPR will affect your organization?

Learn More …

The Robotic Revolution is NOW

Robots, which seemed like science fiction only a short time ago, are now a reality in many companies. The Robotic Revolution, which started with robots automating tasks on the manufacturing floor have moved to the back office and are quickly taking over. According to Hanse Orga Group CEO, Sven Lindemann,

“We are witnessing a strong trend towards process automation. Robotic process automation, for example, is a term that started to become popular about a year ago. Today you cannot avoid it, because digitization increasingly dictates how we work. That’s why it is so important for companies to stay on the ball here and maintain their edge through technological innovation.”

This is especially true in the Finance department where Robotic Process Automation (RPA), Artificial Intelligence (AI), Machine Learning (ML) and Blockchain are being rapidly adopted to improve the speed and accuracy of invoice processing:

  • RPA can be used to capture information from inbound documents – such as invoices and goods receipts – providing the AP team with much greater insight into the “back story” of the transaction. RPA can also be used to automate many simple tasks, freeing users to do more complex and valuable work.
  • Artificial Intelligence and Machine Learning help extend the automation provided by RPA into decision making support and can suggest next steps to users based on past behavior, further reducing the time and effort required to process an invoice.
  • Blockchain is a relatively new technology for enterprises that will enable companies to quickly and securely conduct transactions on shared ledgers with suppliers and other business partners.

Finance leaders must quickly educate themselves about these technologies, so they are prepared to help their companies grow in the coming years.

Learn More…

Payments Fraud

Another rapidly emerging business requirement we saw this year is fraud prevention. According to the Association of Finance Professional’s Payments Fraud and Control Survey (2017), almost three-quarters of organizations (74%) have experienced actual or attempted payment fraud in 2016. In response to this high level of fraud, many organizations are urgently introducing new process controls, including supplier information management and supplier scoring. However, until organizations move to completely digitized and transparent business processes it will still be very easy for a savvy criminals to continue this pattern of massive payment fraud.

Learn More …

Emergence of New Roles: Global Process Owners and Chief Data Officer

As many companies deal with rapid changes and increasing business complexity, they are creating new roles to provide the company with enterprise-wide oversight of data and processes. These Global Process Owners and Chief Data Officers require a broad understanding of both business process and technology as well as specialized solutions to help them meet their company’s strategic goals.

We spent a lot of time this year speaking with Global Process Owners at SAP conferences and other specialized events about the importance of digitizing processes across SAP and non-SAP systems to provide global view that increases efficiencies, lowers costs, and reduces risk. We were thrilled when our customer Adient, was able to speak at the Hanse Orga User Group in Hamburg this year to discuss how the company was able to manage its global invoice processing operations, handling over 25 languages across 40 countries from its in-house Shared Services Center in Brataslava, Slovakia.

While the role of the Chief Data Officer is relatively new, it is becoming more common as new regulations such as GDPR require companies to make data stewardship a corporate priority. We attended several events this year where we were talking about the importance of managing the lifecycle of data and documents, to comply with legal, fiscal and industry regulations and to provide greater transparency across the organization for analytics and reporting and were pleased to have our CEO, Dr. Werner Hopf introduce the topic at the Hanse Orga User Group this year.

Learn More …

Conclusion

Whatever 2018 will hold remains to be seen, but we are very proud of the success our customers have been able to achieve in 2017. For now, we are looking forward to the continued opportunity to provide our customers with the solutions and strategies necessary to meet the constantly changing needs of global business.

All the best for the New Year! The entire Dolphin team wishes you a very happy holiday and peace, joy and prosperity in 2018.

 

4 Ways to Outpace Competitors in the Order-to-Cash Race

With many different ways to improve processes, it can be difficult for organizations to decide where to start. For those that want to be able to outpace competitors in global process improvement, even small changes to existing processes can deliver significant benefits through lower costs, greater productivity and reduced risk. Based on case studies, here are 4 ways organizations have successfully improved order-to- cash processes.

1. Automated order handling reduced processing costs by 72% for a leading worldwide manufacturer of electrical products, tools and hardware.

2. Digitizing order and deliver documents reduced buyer inquiries from days to minutes for a global designer and maker of communication and navigation products.

3. Templated-based process simplified payment from large retailers for a world leader in imaging, precision equipment and instruments.

4. Centralizing payment processing quickened time to payment for a leading maker of medical devices for home, hospitals and laboratories with multiple distributed locations.

If you are looking for ways to drive improvements in O2C, read Brian’s blog on Shared Services Link or read the case studies linked above.