Magnitude Software, provider of enterprise application data integration and analytics solutions to the world’s leading businesses, today announced the release of SAP Central Finance Data Harmonization application by Magnitude for SAP S/4HANA. Building upon the launch of the company’s SAP Central Finance Transaction Replication application by Magnitude for SAP S/4HANA solution, the new offering helps accelerate the consolidation, initial load, and ongoing interface of master data to speed implementations of SAP S/4HANA® for central finance foundation.
Read More: SalesTechStar Interview With Leonardo Scatturice, CEO At OCP Tech
The new harmonization offering for the SAP Solution Extension portfolio creates the master data foundation by providing the tools, methodology and automation of the process of extracting master data from SAP and non-SAP source systems. Before transactions can post from source ERPs to central finance, the systems must speak the same language through configuration, master data definitions and source mappings. In supporting the entire central finance lifecycle, the Magnitude solution automates the assembly and onboarding of master data into SAP Master Data Governance and SAP S/4HANA for central finance foundation.
“The accelerators that Magnitude has created for the SAP central finance community are changing the game,” says Martin Naraschewski, senior vice president and general manager, Head of Line of Business Finance for SAP. “This addition to the SAP solution extension portfolio allows customers to automate master data integration tasks and harmonize data efficiently, while significantly decreasing risk and accelerating SAP central finance deployments. Customers can now take advantage of the full value of the SAP S/4HANA central finance platform faster than ever.”
Read More: SalesTechStar Interview With Dana Attar, Vice President Of Products At Tikal Center
The software extracts raw master data from all relevant sources and profiles the data. It then matches and merges duplicates using machine learning and loads the master records and mappings into central finance. By efficiently building and maintaining the master data foundation and mappings, the solution automates and simplifies critical aspects of a central finance deployment.
Key Capabilities:
- Pre-built extractions of configurations and master data for more than 15 source ERPs plus universal flat file format for custom data sources
- Data integration functionality to support any and all SAP central finance ERP landscapes – allowing for direct connection from both SAP and non-SAP source systems
- Data profiling tool to help determine cleanup efforts
- Configuration mapping templates to maximize efficiency in early stages of central finance setup
- Automated harmonization algorithms to match and deduplicate records
- Programs to prepare master data such as business partner creation and explosion to company code associations
“Master data harmonization is a major challenge businesses face in central finance projects. The complex data mappings required across multiple systems are difficult to understand and proper scoping is crucial for project success,” said Bas Kamphuis, General Manager, Productivity at Magnitude Software.
“With Magnitude’s expanded SAP solution, we’ve automated the process of extracting and harmonizing data from multiple systems into one golden copy in central finance. By leveraging automation and machine learning within the Magnitude solution, customers can avoid months of work extracting and preparing their master data for central finance, saving significant time on their overall project. We’re not only empowering finance organizations to go from start to finish faster in their implementations, but also improving the resiliency and reliability of financial operations by taking the daily error-prone manual data management dependencies out of the process.”
Read More: Accenture Named A Leader And Star Performer In IT Security Services By Analyst Firm Everest Group
