SAP Master Data Governance - Automate and Control Financial Master Data Changes while Supporting Regulatory Compliance: Product Demo

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

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    • 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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