Fluence : The future for Financial Consolidation.

In the dynamic world of finance, the tools and systems that organisations use to manage their consolidation processes are essential components of robust governance.  SAP Business Planning and Consolidation (SAP BPC) has been a stalwart in this domain for many years, providing robust solutions for financial reporting, budgeting, forecasting, and consolidation.  However, with SAP BPC nearing its end of life, and certainly well past it’s sell by date with regard to SAP’s failure to develop it, many organisations are seeking alternatives that can not only match but exceed the capabilities of their legacy system. Read on to find out why Fluence is the alternative for SAP BPC.

Enter Fluence, a cutting-edge solution designed to meet the evolving needs of mid-sized to large enterprises.  Fluence offers a compelling suite of features that make it the solution of choice for organisations looking to transition from SAP BPC for consolidation use cases.  

Fluence stands out as the preferred alternative for a number of reasons:

1. Tailored for Modern Finance Teams:

Fluence is built with the modern finance team in mind.  It offers a no-code platform that empowers finance professionals to manage their processes without relying on IT support.  This autonomy is crucial in today’s fast-paced business environment. Agility and the ability to adapt quickly to changes can make a significant difference.

2. Rapid Deployment:

One of the most significant advantages of Fluence is its out-of-the-box functionality.  Unlike SAP BPC, which typically involves extensive setup and customisation, Fluence is designed for rapid deployment and straight forward configuration.  This means organisations can get up and running with Fluence in a fraction of the time it would take to implement or update SAP BPC. This leads to faster time-to-value and reduced implementation costs.

3. Advanced Consolidation Features:

Fluence excels in providing advanced consolidation features that go beyond the capabilities of SAP BPC. With built-in templates for intercompany eliminations, account reconciliation, and cash flow management, Fluence simplifies the consolidation process. This will ensure accuracy and compliance with financial reporting standards.

4. Powerful and Flexible Integration:

Fluence’s ability to integrate with any ERP systems makes it an attractive option for organisations that have a diverse landscape. Even those who are heavily invested in SAP, but need to integrate multiple instances. The sophisticated capabilities ensure data flows smoothly between systems. Thus reducing the risk of errors and increasing the reliability of financial reports. It also delivers enhanced capability such as possibility of drill back to transaction detail.

5. Enhanced Collaboration and Workflow Automation:

The platform’s has workflow automation and collaboration tools, such as drag-and-drop task management and integration with communication platforms like Slack. This enhances teamwork and streamline the consolidation processes.  This leads to improved efficiency and allows finance teams to focus on strategic analysis rather than manual tasks.

6. A Powerful Excel Interface with Robust Reporting:

Fluence maintains the familiarity and flexibility of an Excel-based interface, which users of SAP BPC are accustomed to.  However, it enhances this experience by providing a single Excel client (Fluence XL), capable of connecting to diverse sources. (This including, for example Anaplan, who have recently announced their acquisition of Fluence) and delivering a significantly enhanced functionality over SAP BPC. The Fluence commitment to supporting Excel makes it a stand out solution that’s ahead of any others on the market.

7. Scalability and Flexibility:

As organisations grow, their financial consolidation requirements become more complex.  Fluence is designed to scale with businesses, accommodating unlimited subsidiaries, regions, and data sources as well as enabling rapid extension to include acquisitions.  This scalability ensures that as a company expands, its financial systems can grow alongside it without the need for costly upgrades or replacements.

8. Cost-Effective and High-Value Investment:

Fluence offers enterprise-level functionality without the enterprise-level price tag.  Total cost of ownership (TCO) can be significantly lower than other alternatives, enabling organisations to allocate both their financial and human resources more efficiently.

9. Continuous Innovation and Support:

Fluence is committed to continuous innovation, ensuring its platform remains at the forefront of financial consolidation technology.  Unlike for SAP BPC where effective SAP support is almost non existent, Fluence has a dedicated support team and regular updates, users can be confident that they will always have access to the latest features and best practices.

10. A Clear Path for Migration:

For current SAP BPC users, Kabeelah, who boasts a deep expertise in both solutions, provides a clear migration path that minimises disruption to ongoing operations.  The transition process is designed to be straightforward, ensuring historical data is preserved and that the integrity of financial reporting is maintained.

Conclusion: Why Fluence is the SAP BPC Alternative

Fluence represents the next generation of financial consolidation. Its user-friendly design, powerful features, and commitment to innovation make it the ideal choice for organisations looking to replace SAP BPC.  As the financial landscape continues to evolve, Fluence has become a significant player in the Financial Close and Consolidation space delivering a modern, robust solution that will support a business in its consolidation processes for many years to come.