Name: SAP Advanced Financial Closing
Author: SAP

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The SAP Advanced Financial Closing solution helps organizations to meet regulatory disclosure mandates and gain real-time insights to make better decisions and ensure compliance.

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.

Professional

Complete

Vena

Oracle Fusion Cloud Enterprise Performance Management (EPM) is a solution that helps users model and plan across finance, HR, supply chain, and sales, streamline the financial close process.

EPM Standard

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Oracle Fusion Cloud Enterprise Performance Management

SAP Advanced Financial Closing

Financial Close software provides reconciliation management, tasks assignment and checklist to ensure an orderly financial close process.

Financial Close

SAP was founded in 1972 and is headquartered in Walldorf, Germany. The company employs over 105,000 people globally and develops software solutions for enterprise resource planning (ERP) and related business functions. SAP’s early products, SAP R/2 and SAP R/3, were widely adopted for managing core business processes. Its current ERP platform, SAP S/4HANA, uses in-memory computing to support data-intensive operations and integrates capabilities such as artificial intelligence and machine learning. SAP offers a portfolio of software applications that support various business functions across industries. These applications are designed to operate on a unified digital platform. As of 2025, SAP reports over 230 million cloud users and provides more than 100 solutions. The company’s offerings are used by organizations to manage finance, human resources, procurement, supply chain, and other operational areas.

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

Financial data consolidation

Consolidating data from several entities into a single statement using US GAAP, IFRS or other standards.

Journal entries and reports

Ability to enter journal entry adjustments and produce reports showing all journal entries for a specific period.

Multi-currency management

Ability to handle foreign currency conversions during consolidation.

Detailed Audit Trails

Tracing changes to data and processes that were run.

Reconciliation Automation

Programmatic assistance for reconciling financial records with a central ledger.

Close Checklist

The ability to assign and track various tasks on multiple time bases, e.g., monthly, quarterly, and annually.

Customizable Workflows

The ability to adapt the software to complete tasks in a particular order according to business needs.

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Financial Close Software

SAP Advanced Financial Closing

Overview

What is SAP Advanced Financial Closing?