Seamlessly integrate to your new cloud-based ERP with Cadency for quicker adoption and ROI
Cloud evolution continues to grow as more enterprises embrace the Cloud as the way forward for all digital solutions. This will also be accelerated as vendors start announcing the end of life of on-premise solutions — as both buyers and sellers realize the reduction of cost for Cloud solutions, in addition to the ability to further digitalize the Office of the CFO.
Now more than ever, finance operations look to move their SAP® and Oracle® ERP systems from on-premise hardware to Cloud technology.
In addition to the move to the Cloud, finance transformation teams should also take this opportunity to review their policies and processes to overcome some of the other challenges highlighted in a recent Forrester report.
Organizations should also take this opportunity to review the optimization of data flows to address the need for improved accuracy of reporting and, ultimately, enable a faster forecasting and planning process.
Challenges of Moving to the Cloud
Though extremely beneficial and necessary, migration to the Cloud requires enormous planning and coordination from various teams in the following areas:
- Extensive data migration efforts
- Workflow/process transformation
- System testing/user adoption testing
- Secure access to data
- User training
Trying to juggle these challenges can increase the risk of not accomplishing your financial close on time and could even lead to inaccuracies in your reporting.
Make the Move Easier with Cadency® by Trintech
Cadency by Trintech can significantly help with this longer transformation journey and enable the Office of Finance to build a future proof technical solution that will enable the Office of Finance to become a value-adding partner to the commercial organization.
Smart Controls within Cadency can not only help identify the risks of these inaccuracies but also keep you and your team on track as you embark on your ERP transformation. For this transition to be as painless and risk free as possible, we would recommend taking advantage of the Smart Controls and Smart Data within Cadency and adjusting to the best practices we help implement with our system.
This would include:
- Keeping track of all your tasks in Cadency Close to ensure that you are completing all the necessary items in your financial close on time.
- Importing your transaction data into Cadency Reconciliation Match using one of our dedicated ERP Connectors to handle your high-volume transaction matching.
- Use the ERP Connectors to import your accounts into Cadency Reconciliation Certify to then start reconciling those accounts.
- If journal entries need to be posted, you can then handle these within Cadency Journal Entry and get real-time confirmation of your postings with the ERP Connector.
Once you have that increased insight into your financial close, you can be comfortable knowing that those risks mentioned earlier will be mitigated while you tackle your migration. Once you have fully migrated to your new Cloud ERP, there is no need to worry about integration, because we are now supporting SAP® S4/HANA Cloud and Oracle® Fusion as part of our ERP Connector offering.
How to Deploy the Cloud With Trintech
Migration Process Scenario 1: Non-Cadency Client
- Deploy Cadency now while on-premise and gain visibility and control in your Record to Report
- Stabilize and implement Cadency best practices
- Migrate to the Cloud ERP when you are ready without worrying about the additional cost and effort of integration. Cadency as support for Cloud ERP is growing starting with SAP® S4/HANA Cloud and Oracle® Fusion.
All our previous Cadency Connectors have the following capabilities as they are typically the most needed:
- Data extraction for reconciliation needs: GL, SL, balances and transactions, FX rates
- Real time Journal Entry capabilities: validation, postings, reversals
These capabilities will be released in the latest Connector offering supporting the newest releases of these Cloud ERPs. At a high level, this will help our customers who are using or are planning to use Cadency with Oracle® Fusion or SAP® S/4HANA Cloud to further achieve the benefits of an integrated Cloud ERP, eliminating the pain points with which organizations often struggle.
Migration Process Scenario 2: Starting With Cadency in Place
- Ensure utilization of Cadency best practices
- Migrate to Cloud ERPs when you are ready without worrying about additional cost and effort of integration with Cadency as support for Cloud ERP is growing starting with S4HANA Cloud and Oracle Fusion.
Whatever stage your organization is at with your ERP system, Trintech is ready to support you.
Already on Oracle® Fusion or SAP® S/4HANA Cloud and wanting to make life easier for you and your company’s IT team?
Great, we are ready to support you!
Planning to migrate in the future? No problem, we support various other ERPs until you are done with your migration, and we will be here to help with making sure your integration to Cadency continues smoothly.
To get a high-level view of how our Cadency Connectors for Oracle® Fusion and SAP® S4/HANA Cloud work, feel free to reach out to us for more information.
Written By: Charles Hitt, Technical Product Owner at Trintech