SAP Master Data Governance: Automate and Control Financial Master Data Changes While Supporting Regulatory Compliance

Learn how SAP software can facilitate the maintenance of financial master data while ensuring data consistency and validity and compliance with governance regulations.

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  • http://global.sap.com/demos/mmov/demos/sap-master-data-governance-automate-and-control-financial-master-data-changes-while-supporting-regulatory-compliance-demo-us.mp4
    • SAP Master Data Governance: Automate and control financial master data changes while supporting regulatory compliance.
    • This demonstration shows how SAP software allows you to create a time-dependent version of financial master data,
    • create new profit centers and the profit center hierarchy, evaluate and approve change requests, and release an edition of new data
    • Enabling you to centralize financial master data management,ensure the consistency and validity of financial master data, and comply with regulatory guidelines.
    • Create a time-dependent version of financial master data.
    • Cindy Morgan is a master data administrator who is responsible for the master data governance hub.
    • Cindy opens her SAP software to create a new edition, which is version of master data that is valid for a specific period of time.
    • The company needs the edition to ensure reporting accuracy for new profit centers that will support the launch of an additional line of business.
    • She completes the form by adding relevant information.
    • Then she checks the edition to make sure it is valid.
    • Since there are no errors, she saves the edition.
    • Create new profit centers and the profit center hierarchy.
    • Kevin Flynn is a corporate accountant.
    • Kevin opens his software to request a master data change.
    • He wants to add new profit centers to the edition Cindy has created.
    • The software streamlines master data changes by enabling an approval workflow and provides an audit trail to help you meet Sarbanes–Oxley requirements.
    • The company is producing a new brake system, so Kevin needs to create the profit centers and the profit center hierarchy for reporting purposes.
    • He describes the reason for the change to justify his request.
    • He specifies the object to be maintained and indicates the controlling area and the ID of the new profit centers.
    • Kevin also specifies the profit center groups in the controlling area.
    • Since the controlling area does not already have a standard hierarchy, Kevin specifies one.
    • After he specifies all the objects, he verifies that his input is correct and submits the change request for review.
    • Evaluate and approve change requests.
    • Maria Spencer is master data specialist.
    • Maria opens the change request Kevin created to evaluate it.
    • By selecting different tabs, she can see details about the request.
    • She can select different entity types in the object list and she can switch to the profit center hierarchy to check these details.
    • She can also add notes and attach files.
    • After she checks all the content, she agrees to the change request, which sends the task on for approval.
    • Alan Bradley, the master data steward responsible for approving change requests, receives the task.
    • He selects the change request from his work list and opens it.
    • He sees the information entered by both Kevin and Maria, and approves the change request.
    • Now Maria can execute the changes.
    • She opens the request number so she can begin.
    • She selects a profit center and enters relevant information before saving it.
    • Maria also maintains information for two other profit centers, the profit center hierarchy, and the profit center group, following a similar sequence before saving her changes.
    • Alan Bradley reviews the changes executed by Maria.
    • He performs a final check and approves them.
    • Release an edition of new data.
    • Now that the change request has been approved and no more changes need to be made to the edition, Cindy Morgan can release it.
    • She selects and validates the edition before releasing it into the company’s master data.
    • Kevin Flynn, the corporate accountant, now wants to replicate the data to target software such as the company’s operational SAP ERP application.
    • He expands the edition
    • and selects the replication model that specifies the target software application where the data will be replicated.
    • He refreshes the screen to update the status of the data, which shows that the action has been completed.
    • By centralizing the management of financial master data and requiring structured change-approval processes,
    • SAP Master Data Governance facilitates the maintenance of master data.
    • The software provides a clear audit trail of changes to ensure the consistency and validity of financial master data, while ensuring regulatory compliance.
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  • video SAP Master Data Governance: Automate and Control Financial Master Data Changes While Supporting Regulatory Compliance

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