Tuesday, August 28, 2012

Five Benefits of the SAP New General Ledger

More utilities are exploring the impact of an SAP New GL migration on their financial and regulatory reporting. While HPC is agnostic in the Classic vs. New GL, FERC or no FERC debate (we've built effective solutions for every scenario), we recognize five key benefits to migrating:
  1. Integrates external legal accounting with internal cost reporting
  2. Provides a means to satisfy IFRS reporting (although convergence deadlines are still pending)
  3. Allows for full balance sheets below company code level (e.g., by segment)
  4. Provides extensibility to introduce new fields to the GL (e.g., FERC account)
  5. Quickens the month-end close
Utilities on SAP can realize these benefits in part due to key features in the New GL that are not available in the Classic GL. Click the image below for a larger version: