Firms are faced with migration to SAP S/4HANA before 2027. Although it appears to be a straightforward software and technology migration, many choices that need to be made will impact Finance’s and Treasury’s operating model and management – it is unlikely to be a fully “1 for 1” migration from your current state. A successful migration demands focus on more than an expedient migration with reconcilable balances.
Finance and Treasury currently interacts with many internal and external parties. The migration will generate considerable changes to data provisioning and acquisition. In addition, Treasury teams are looking into use of SAP Multi-Bank Connectivity (MBC) and/or migrating to ISO 20022. These need to be prioritized based on impact to Finance and the Enterprise. Best practice is to take a risk-based delivery approach to these feeds and managing them accordingly – prioritizing and sequencing them may not be enough to ensure there are no business disruptions.
Budgets for change are tight and infrequent, as a result the opportunity to drive change is limited. Migrations need to judiciously consider additional changes that could occur during the migration. Changes must consider delivery risk, cost, time, and benefit. Our experience has shown that many changes, reflecting both remediation and improvement, can be accomplished within a migration program if considered and planned accordingly. This is what is at the core of Davies’ S/4HANA MigrationPlus.
