Proxyon International's vision on SAP Financial Closing Cockpit (SAP FCc)
- The subject 'Financial Closing' is the primary area of interest, since that area delivers the roots of SAP FCc . It is about the 'classical closing activities' like opening and closing financial periods, allocating an distributing remaining balances from cost centers, overhead orders and profit centers, revaluating foreign currency balances and regrouping balances on balance sheet accounts.
- In Proxyon's view many activities that are traditionally related to financial closing could be part of another cycle, to be executed before period end, like depreciating assets and posting accruals for cost and revenue that are calculated (or similar) each period. They are in the area of Financial - Non Closing, and should relief the burden of Period End work pressure.
- Like financial related activities also non financial activities like enabling blocked customer invoices to be posted and sent should be controlled within FCc.
- Since it is possible to define manual checks, creating e-mail messages based on the state of a process, maintaining office documents and producing reports within FCc, FCc should be used as the basis for Continuous Auditing / Continuous Monitoring.
- FCc has been built to enable Planning, Executing, Monitoring and Analyzing the periodic activities. This means it is a 100% control tool, thus providing the components to build it's organizational foundation, 'Continuous Business Process Improvement', the management layer to enhance business processes and their corresponding supporting automated functionality.
- Execution, Monitoring and Analysis should be enhanced by using the Web based SAP portal interface, so a web browser is the only software tool needed and the dialogue is as simple as it should be.