The Journey to SAP S/4HANA — An Overview of Key Changes and Associated Risks

Journey-to-SAP-S4-HANA_Protiviti
The Journey to SAP S/4HANA — An Overview of Key Changes and Associated Risks

S/4HANA: What You Need to Know

S/4HANA is an innovative business suite reflecting a single source of truth with capabilities of real-time soft close and consolidation for reporting in multiple currencies and books of accounts across various platforms. It features interactive business intelligence analytics with machine learning for financial operations, and Fiori analytical apps that are aimed at creating KPIs for CxO dashboards.

Key Changes and Benefits

  • Simple Finance, predefined templates and unified data models
  • Real-time financials processing, enabling fast close
  • Introduction of business partner for master data for vendors, customers
  • Revenue recognition to meet statutory reporting requirements
  • Fiori Apps introduced across mobility platforms to access frequently used transactions for viewing, reports and analytics

SAP S/4HANA Features

  • Changes to chart of accounts, finance and accounting process to work effectively with S/4HANA system(s)
  • Impact on security model and skills because S/4HANA security includes two additional layers around database security (HANA) and mobility/apps (Fiori)
  • Compliance framework changes applicable to IT General Controls (e.g., changes in infrastructure, security settings), and configurable/automated controls
  • Updates to SoD ruleset for new/removed transactions

SAP S/4HANA Implementation: Challenges

  • A comprehensive project plan is not defined with detailed activities, target completion dates, cross work-stream dependencies or critical path
  • The future end-to-end business processes are not designed, documented in detail and/or approved by the business process owners (BPOs)
  • A comprehensive user acceptance testing (UAT) plan is not developed, including entry/exit criteria, definition of test scenarios, test steps and expected results
  • There is no defined strategy or plan for business-data validation as an entry criteria to each test cycle, including the level of validation testing of the converted data
  • Data-quality controls for master data are not defined, and workflow for the authoring and maintenance of master data is not developed
  • Future business reporting requirements are not signed off on by the business owners

What are the Key S/4 HANA Security Changes?

How Protiviti Assists Compliance Organizations in S/4HANA Implementations

When implementing S/4HANA, Protiviti helps clients to bridge the gaps among internal audit, the IT organization and the CFO organization by focusing on the following key risk areas:

Contacts

Toni Lastella

Managing Director, New York

+1.212.399.8602

[email protected]
Carol Raimo 

Managing Director, New York

+1.212.603.8371

[email protected]
Aric Quinones 

Managing Director, Atlanta

+1.404.240.8376

[email protected]
Martin Nash

Managing Director, Tampa

+1.813.348.3374

[email protected]
John Harrison 

Managing Director, Houston

+1.713.314.4996

[email protected]
Thomas Luick 

Managing Director, Chicago

+1.312.476.6342

[email protected]
Steve Cabello 

Managing Director, Los Angeles

+1.213.327.1470

[email protected]
John Livingood 

Director, San Francisco

+1.415.402.3682

[email protected]

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