"I am a big fan of automatizations and embrace them in all areas of a business – in this case in our SAP S/4HANA Finance project.
The EBS Workbench add-on is a highly valuable tool has a visible positive magnitude on our business. I will go ahead in list the benefits we are already seeing:
- standardization in accounting - EBS allows us to standardize and harmonize our accounting and enables the headquarter direct control to ensure accuracy of the accounting entries
- 3 way match internal control and cross-reference between: our bank cash-flows, our Treasury system and our SAP ERP, in the means that we are segregating and limiting the processing and approval of cash flow transactions to the authorized employees and ensure a safeguard against fraud
- direct visibility over the outstanding FX deals
- efficiency gains in processing time - now we can perform value added activities instead of repetitive bank statement postings
- thousands of transactions per day are processed in 5 minutes, instead of tens of hours of manual posting work
- cost avoidance/savings - there is no need for additional FTE"
Denisa Simion, Consolidation and Compliance, Finance / Accounting & Reporting, Huf Hülsbeck & Fürst