Improve Retention by Bridging the SAP-to-Excel Gap

October 4, 2023

Finance teams are under pressure to slash costs while playing a key role in data strategy, yet they are still bogged down by manual tasks, overreliance on IT, and low visibility on company data. This expansion of responsibilities is exacerbating the well-documented trend of finance team burnout, leading to undesirable turnover. It’s no surprise that 82.4% of public company hiring managers for finance and accounting report talent retention as a big challenge, according to a recent Deloitte poll.

This is a serious issue for organizations around the world who want to focus on efficiency and profitability, not training new staff. CFOs must carefully examine the day-to-day pain points for their teams to mitigate quality of life reductions and improve staff retention.

Disconnected Data Drags Finance Teams Down

Many finance teams that use SAP work with disconnected data through overly manual processes and struggle to bridge the gap between ERP data and a user-friendly working environment, like Microsoft Excel. These teams feel helpless, trapped on a hamster wheel of data extraction, manual data entry then checking for accuracy, before rinsing and repeating the next month. They struggle to satisfy more intricate, ad-hoc requests and this leads to a reduced sense of value and job satisfaction.

Disconnected SAP data can pose several challenges:

1. Inaccurate and outdated financial reporting:
   • Disconnected SAP data often leads to manual data entry and reconciliation efforts, increasing the likelihood of errors in financial reporting.
   • Finance teams may struggle to provide accurate and up-to-date financial statements, which can hinder decision-making and compliance efforts.
2. Inefficient and time-consuming processes:
   • Without seamless integration and real-time access to SAP data, finance teams may spend a significant amount of time on data extraction, transformation, and loading (ETL) processes.
   • This inefficiency can slow down financial close processes, budgeting, forecasting, and other critical financial activities, reducing overall productivity.
3. Lack of data visibility and insights:
   • Disconnected SAP data often means limited visibility into the organization’s financial performance.
   • Finance teams may find it challenging to gain insights from disparate data sources, hindering their ability to identify trends, risks, and opportunities on time.

Addressing these challenges often requires investing in data integration solutions or third-party data integration tools. These solutions enable finance teams to streamline data access, improve accuracy, and enhance their ability to make data-driven decisions, as well as help maintain data quality and consistency across the organization.

Bring Finance Tasks to Life by Connecting Your SAP Data and Excel

The most efficient route to bridging the disconnection between SAP data and Excel is investment in robust, intuitive reporting and process automation tools. With these tools in hand, your finance team will enjoy increased:

1. Efficiency and productivity: Excel-based SAP tools streamline financial processes, allowing employees to work more efficiently. This can reduce overtime hours and the need for employees to consistently work long hours to meet deadlines, improving work-life balance and overall job satisfaction.
2. Data accuracy and accountability: The right solution can enhance data accuracy and provide a clear audit trail. This increases accountability among team members and reduces the likelihood of being blamed for errors that were the result of manual processes.
3. Reduced repetitive tasks: Employees often appreciate tools that automate repetitive and mundane tasks. Excel-based SAP tools can automate data entry, report generation, and other routine activities, allowing financial professionals to focus on more strategic and rewarding aspects of their roles.

The benefits of SAP data management and financial reporting tools enhance employee satisfaction, reduce turnover, and contribute to a positive work environment within financial teams. When employees feel supported, empowered, and engaged in their roles, they are more likely to remain committed to their organization, leading to improved employee retention rates. Giving them a tool that connects SAP data and Excel provides them with:

• Skill enhancement: Working with Excel-based SAP tools provides employees with opportunities to enhance their skills and expertise. Employees who feel that they are continually learning and growing in their roles are more likely to stay with their current employer.
• Career development: Many organizations offer career development opportunities related to SAP, such as certifications and training programs. This not only benefits employees by enhancing their career prospects but also improves their loyalty to the company.
• Collaboration and teamwork: Excel-based SAP tools facilitate collaboration and teamwork within financial teams. When employees feel that they are part of a cohesive team working together efficiently, they are more likely to stay in their roles.
• Career advancement: With improved skills and experience gained from working with SAP tools, employees may be better positioned for career advancement within the organization. This potential for growth and upward mobility can increase retention rates.

Discover the Tools That Deliver the Connections Finance Needs

insightsoftware’s SAP products are purpose-built to connect SAP data with Excel and ensure accuracy, transparency, and user proficiency while creating a reliable foundation for critical business decisions. Together, Wands for SAP and Process Runner GLSU, excel in data cleansing, automatically identifying and rectifying errors, inconsistencies, and inaccuracies in data, ensuring its accuracy and reliability.

They also enhance data transparency by offering insights into data sourcing and data handling processes within SAP systems, allowing users to generate and share meaningful insights. These tools empower users to solve data-related issues effectively, even without technical expertise. Armed with Wands and Process Runner GLSU, your team will spend less time on manual data entry and more time on value-added analysis, increasing their perceived value and job satisfaction.

Wands for SAP: Empower business users to create their own refreshable and drillable reports with flexible layouts, and provide them with an intuitive interface in which they can create custom reports, in minutes, without requiring technical knowledge. Without a proper reporting tool, many finance teams rely on the error-prone, manual process of dumping data from SAP tools into Excel. Wands automates time-consuming reporting processes while adhering to your ERP security to control access to sensitive data. Being based in Excel—finance’s tool of choice – ensures fast and high levels of user adoption.

Process Runner GLSU: Streamline routine financial processes and FICO data entry without adding complexity. Eliminate cumbersome manual processes and tedious tasks that consume significant time and effort. GLSU provides the ideal blend of features for your SAP finance team while eliminating the need for lengthy internal development life cycles, budget overruns, and excessive support costs. GLSU improves efficiency and empowers users to create their own templates without a phone call to IT. With it, you can streamline business processes and financial operations without adding complexity and eliminate cumbersome manual processes and tedious tasks that consume significant time and effort.

Visit our website to schedule a demo and learn how your team can bridge the gap between its SAP data and Excel.