The Ledger

Manufacturing Finance of the Future: The Digital CFO

 “The CFO function within manufacturing organizations needs to make significant changes to enable companies to meet the challenges of the shift to digital manufacturing, Industry 4.0, smart manufacturing, or any one of the other associated names.”

Efforts to adapt finance functions to digital manufacturing has become a priority for modern CFOs in the industry. Manufacturers of all sizes are connecting finance directly to digital manufacturing’s data-rich environment with cutting-edge data analytics, revising strategic plans and accounting practices to incorporate new approaches to the market, and building new partnerships and finance arrangements with technology and equipment suppliers. The key to accomplishing this is developing the data analytics and systems capability to achieve real-time managerial costing and other business analytics and finding the flexibility and means to adapt the manufacturing business model and management capability to a digital Industry 4.0 world.

Read More at Strategic Finance Magazine >

First Steps in SAP S/4HANA Finance – Fiori Apps Reference Library

“The Fiori apps reference library provides an overview of all available applications. It contains information about installation and configuration, as well as documentation and examples for the respective application software.”

You can access the library Here!

Learn more SAP S/4HANA tips and tricks in Espresso Tutorial’s book, First Steps in SAP S/4HANA Finance >

Digital Transformations Are Only as Successful as The Data Source

“It’s no secret that AI and machine learning have become the top wish-list items among CIOs and CEOs. However, the real potential of AI can be reached only if your organization’s data, which AI relies on, is accurate and business-relevant. You need to trust the source of the data being used to feed AI programs, and the data must be governed properly across the organization. This fundamental piece of the AI and machine-learning puzzle is critical for allowing AI and machine-learning technologies to “learn” how to evolve intelligence and make smarter recommendations for the business. It is also based on the premise that knowledge from the past and present must be preserved, as it ensures valuable reuse and time to market.” 

Read More at The Digitalist by SAP >

What is Holding Manufacturers Back from Adopting Advanced Technologies?

The landscape of business is changing due to digitalization and the introduction of advanced technologies. The manufacturing industry has always been seemingly content with how they operate their supply chains. Because of this, many manufacturers have deemed digitalization unnecessary. However, with product life-cycles getting shorter and competition tightening among industries, these businesses can’t afford to keep their processes the same much longer. So, why are manufacturers so hesitant to shift to new tools and processes? There are four common misconceptions about digitalization that could be hindering them from taking the leap to new technologies.

Read More at Manufacturing.Net >