Monthly Archives

July 2018

US GAAP ACCOUNTING PRINCIPLES

by adminJuly 11, 2018

US GAAP ACCOUNTING PRINCIPLES

Generally Accepted Accounting Principles is the full form of GAAP. It means a collective set of accounting standards, procedures, and principles that companies should follow while confirming their financial statements. It is the commonly approved way of reporting and recording accounting information. In simple words, GAAP improves the transparency of the statement of financial communication.

GAAP should be followed when the company sends its financial statements outside the company. GAAP covers some important things like outstanding share measurements, balance sheet item classification and revenue recognition. The investors should remain cautious if in case they find the financial report is not in line with GAAP.

How US GAAP Accounting Techniques at Sierra Infosys Inc Helps to Plan Ahead?

GAAP serves as the financial crystal ball: Companies making use of GAAP should prepare their reports with the same figures and methods every time. It offers an exact picture of the revenue to predict and identify cash flow trends every time.

Avoid fraud and reduce risks by focusing on hard stuff: GAAP forces to think about other issues like why you are not able to hit sales expectations. It gives the information you require to identify gaps in earning capacities, mistakes you need to clean and collection issues.

Find out areas for competitive analysis and improvement: With GAAP, you can easily compare your performance with your competitors or other companies. You can easily find out the areas that changes can be done.

If you know the value of these benefits and looking to switch to GAAP, here is the right time to start on to it. Get in touch with Sierra Infosys Inc for more details.

Nakisa,

Why Nakisa Lease Administration Software?

by adminJuly 11, 2018

Why Nakisa Lease Administration Software?

It is well known the lease administration process is complex. You need lease accounting experts to solve your queries and discover the fine points of lease administration.

Nakisa Lease Administration is an all-inclusive lease accounting software that allows the business owners to report and manage their leasing requirements. It offers a clear idea to make up-to-date decisions in terms of leasing liabilities and unifies different leasing data in a single platform. Nakisa Lease Administration software helps in optimizing both transactional processes and lease accounting including business planning, supplier management, equipment and more.

About Nakisa

Nakisa is a global frontrunner in offering organizational transformation and lease administration business solutions for large enterprises. Delivering forward-thinking, innovative, financial management and tough human resource solutions that advance a client’s business strategies, Nakisa solutions are easily available in the cloud and on-premise. Nakisa is one among the few successful SAP partners providing business solutions for SAP since 2007. Nakisa has launched a new version of lease accounting software which is in compliance with ASC 842 and IFRS 16 leases standards- SAP Lease Administration.

Features

In simple terms, Nakisa Lease is an end-to-end lease accounting software that consolidates the entire company lease data. It helps the organizations to gain deep knowledge into financial data, manage global lease portfolios and reorganize lease accounting operations. Moreover, it assists you to gather, abstract and validate the qualities of your leased asset contracts and revenue contracts from a single entry system.

The leasing solution offers to hasten off the accounting assessment needed for the revenue agreements. The stakeholders can get the global view of lease contracts through this system. They can get complete knowledge about contractual data and scrutinize their contract folder covering the financial statements impact. It is beneficial for both lease and revenue contracts where they can get a complete idea about the changes and make decisions.

Standardize lease classification and determination
Manage lease contracts with multi-level contract structure
Lease lifecycle management
Perform initial amount of lease liabilities and ROU assets
Facilitate asset causalities, measurement, and lease modification
Prepare necessary quantitative note disclosures

Benefits for Business

Using Nakisa Lease proven methodology the user can:

Examine financial consequences
Reduce unnecessary leasing expenses
Access to accurate and up-to-date information
Automated report production
Transition to the latest standards
Save cost and time by unifying all lease data in a single source
It satisfies current IAS 17 and also FASB ASU 2016-02 and IFRS 16 lease releases
Easily and quickly visualize lease exposure and at the same time ensure all the leases satisfy lease accounting standards

Nakisa Lease is available in the SAP HANA cloud platform or on-premise. By offering the best lease solutions to your clients, you are not only attempting to achieve sales goals but also ensuring that customers make use of the best leasing solutions available at present date.

SAP HANA,

What is SAP S/4 HANA?

by adminJuly 9, 2018

For several years, SAP concentrated on creating one of the highest of the class enterprise ERP applications. With the dawn of data focused concepts like Big Data or the Internet of Things (IoT), SAP took forward to invest in creating its own database. SAP realized the bottleneck in existing database architecture for achieving performance and processing unstructured data like text mining. SAP revisited and re-engineered from ground zero by designing a database that will best use the memory, CPU processing power. HANA is a reliable in Memory database that combines both row and column store database architecture with a high level of data compression and parallel processing. SAP S/4 HANA is a next-generation ERP product that redesigns SAP ECC to take advantage of HANA database and introduce design thinking in User Interface, superior performance, automatic failover mechanism, and replication that many enterprises wish to have.

Several companies working with ECC have shifted to SAP HANA as the main database. S/4 HANA has several interpretations especially in terms of functionality across modules and data models. Let us discuss the alterations from a logistics perspective.

Master Data

The basic level of change relays to master data. HANA, SAP can attempt massive processing and also offer better performance.

Customer Master

The main idea of managing vendor and customer master in S/4 HANA is applying business partner approach. Thereby, the customary transactional codes like XD02, XD01, XD03 or VD01, VD03, VD02 are terminated in S/4. It is similar in case of MK01, MK02 and MK03 and XK01, XK02 and XK03. When the enterprise is changing to S/4, they should properly examine and make use of SAP S/4 HANA adaptation pre-checks.

Material Master

The material number area has been prolonged up to 40 characters. It is the major single alteration in Material Master. Other changes in S/4 HANA include:

Foreign trade fields are not present. GTS (Global Trade Service) is the optional solution.
Material type SERV is the new introduction for service materials in S/4 HANA.
It does not support Product Catalog functionality. SAP has suggested using Hybris as the recommended functionality.

Transactional Data

Just like the Master Data, SAP has made some changes at the transaction information. Multiple tables can be removed by SAP in the background.

To conclude, SAP S/4 HANA aims to eliminate indexes and replaces with new dimensional solutions. Fundamental data model interpretation will help enterprises control better and run faster.

Default,

What is SAP S/4 HANA Finance?

by adminJuly 9, 2018

SAP S/4 HANA Finance was basically referred as SAP Simple Finance. It has several features like the real-time analytics, streamlined design, and universal journal. One of the best examples of the financial module is SAP Asset Accounting. It has been reshaped in S/4 HANA suite to improve process efficiencies throughout the asset’s lifecycle.

Most people were not clear and questioned what SAP S/4 HANA Finance is. SAP S/4 HANA is actually SAP ERP 6.0 suite with a capacity of running on SAP HANA database. The next level of this application is SAP S/4 HANA Finance. It includes a set of interrelated financial management functions offering real-time data from ERP (Enterprise Resource Planning) applications. It is constructed on SAP HANA in-memory database platform. It uses SAP Flori for personalized and computerized UX (user experience).

It was established to remove customary barriers between analytics, transactional and planning systems to offer on the fly analysis and direct insights with all stages of financial data.

SAP S/4 HANA Finance is suitable for financial specialists and professionals in all sectors, including CFO’s (Chief Financial Officers) and other employees involved in financial operations, treasury, risk and compliance and accounting and tax. It is used by Fortune 100 enterprises, small companies, and corporations around the world.

Advantages of SAP S/4 HANA Finance

The main benefit of SAP S/4 HANA Finance is its processing speed is joined with incorporated features for several financial functions like management accounting and financial accounting. The software allows for a faster understanding of financial processes like quarterly close.

Another main benefit it has the capacity to employ real-time statistics with analytics to predict and model the influence of changes which a company wish to make, like acquisitions. It helps CFOs and financial professionals to play a major role while taking corporate decisions.

It is possible to implement SAP S/4 HANA Finance in hybrid, cloud and on-premises environments. The applications can be applied as bundled or standalone products.

Migration

SAP ERP ECC 6.0 systems can migrate to S/4Hana Simple Finance 1503 or 1605 based on source level and/or migrate to S/4Hana Suite 1511 or 1610, which consist of Simple Finance and Simple Logistics.

SAP HANA,

How SAP HANA Vora help enterprises?

by adminJuly 9, 2018

With implementing HANA Vora, SAP desires to leverage analytics and big data market in India. SAP HANA Vora can identify the present problems in any analytics setting. Most companies that have implemented big data could not find and employ facts in real time due to lack of considerable latency. SAP HANA Vora is the new software, which is an addition to the HANA platform. It can address the main problems allowing enterprises to smartly make use of their facts in real time.

As claimed by the company, SAP HANA Vora assists to lengthen in-memory computing revolution to distributed data and offers OLAP-similar analytics with a corporate semantic knowledge of data throughout the Hadoop ecosystem. The best part is companies can improve their decision-making activities with a complete understanding of business activities along with SAP HANA Vora. Information access can become democratized especially for developers and data scientists. It makes easier to mashup Hadoop and corporate data together to find out answers to unidentified questions.

The executives have suggested that SAP HANA Vora functions will all kinds of business intelligence tools. It can benefit customers in different industries like healthcare, manufacturing, telecommunications and financial services. With the help of case examples, SAP HANA Vora benefit customers in the following ways:

Improve product recall process and deliver preventive maintenance by examining services records, bill of material and sensor data.
Enhancing telecommunications bandwidth by finding traffic patterns to evade network bottlenecks and enhance network QoS (Quality of Service).
Mitigate fraud and risk by finding new anomalies in customer history data and financial transactions.

SAP HANA,

Features of SAP HANA Vora

by adminJuly 9, 2018

In the recent years, companies face various kinds of challenges like the absence of business alignment, insufficient data processing, and high expenses while managing big data. SAP HANA Vora address these challenges by making decisions precise through drill-down and interactive analysis across Hadoop and corporate data.

The core features of SAP HANA Vora:

In-memory inquiry engine which functions on Apache Spark framework
An open development edge
Compiled queries for faster processing through Hadoop Distributed File System nodes
Improved Spark SQL semantic include hierarchies to allow drill down and OLAP analysis
Maintenance for all Hadoop allocations
Improved mashup application programming module for easy access to enterprise application facts for machine learning assignments
NUMA awareness
Support for ORC, Parquet, and HDFS
Hadoop and HANA mash-ups

It is a different process to implement Vora for customer and developer. It is supported by Apache Spark framework – a popular framework presently on the marketplace for examining multiple data streams. SAP HANA Vora allows customers to employ abstract mechanisms in spite of the velocity and variety of data. It allows the users to compose a function that depends on different data repositories and data streams and obtain the results.

How is SAP HANA different from SAP HANA Vora?

Vora is systemized to work coherently with HANA and offer close to close in memory computing through Hadoop and SAP HANA systems. Both are independent products employed for different kinds of use cases. It does not need another platform to function.

Who will make use of SAP HANA Vora?

SAP HANA Vora remains useful to people in following positions:

Software developers: They can install a query engine inside applications that can extend Hadoop and enterprise systems employing familiar programming tools.

Data scientists: These professionals find patterns by attempting new modeling techniques by combining Hadoop and business data and at the same time without repeating prints within data lakes.

Business Analysts: They can do root cause examination by interactive queries across both Hadoop and business data to understand the business context better.

SAP HANA,

An Overview on SAP HANA Vora

by adminJuly 9, 2018

SAP HANA Vora is actually an in-memory enormously distributed data treating engine for Hadoop. It functions on Apache Spark structure to investigate and Big Data kept in Hadoop. It eases the assimilation of SAP data with the dispersed data lakes and combines together all kinds of data (warm, cold, hot, etc.) through the single access point.

How is it accomplished?
It is accomplished through performance supporter supplementary for Apache Spark that eases HANA connectivity to Hadoop collections without any information replication. It can also support interactive SQL on Enterprise Analytics and Hadoop data including:

On the fly money conversion support
UOM (Units of Measurement) support
Hierarchy support
SAP HANA Vora permits the user to capture real-time hot information and combine with less hot information in Hadoop collections through a distinct entry point. It helps the data scientists to obtain amazing understanding by combining all kinds of data.

Being a plugin for Apache Spark, SAP HANA Vora settles above Hadoop clusters enabling a large array of new features.

Unified admin through the SAP HANA cockpit
Rule-based DLM permitting Hadoop/Apache Spark systems to take part in vibrant data tiering
Compiled queries enhancing the performance of inquiries in Hadoop/Apache Spark
OLAP on Hadoop offering the ability to perform drilldowns, hierarchies, and conversions
Parallel Access providing enhanced performance between Apache Spark and SAP Hana
Open Programming Language assistance like Python, Java, Scala or R.
It is possible to deploy SAP HANA Vora in various platforms like Amazon EMR, MAPR, Cloudera, and Hortonworks. If needed, you can make use of test drive possible for Vora Developer 1.2. It is deployed in Zeppelin and Hortonworks which are preinstalled. The test drive would last for about three hours for free of cost.
It is possible to access Vora Developer 1.2 through the SAP cloud library.

Robotic Process Automation,

What are the Benefits of Process Automation?

by adminJuly 6, 2018

A technological system executing a series of everyday jobs which was basically performed by humans is referred to as Process Automation in Information Technology. The automation can also correct, controls, visible the status of tasks and workflows and bring out the reports at the end of the process. It is possible to run at a specific time or depending on the result of certain factors or previous processes. It helps in planning future tasks.

Key Benefits

Companies that have implemented process automation in their business can visualize competitive gain over their competitors especially in terms of reliability and operability.
Process automation increases reliability and speed of task development, implementation, and support and reduces operative costs.
It satisfies the appeal for computer systems and IT departments and enhances work continuity.
It increases productivity and efficiency of the organization and eliminates manual performance of command sequences resulting in a human error.
It enables control and visibility of all tasks and workflows, offering status reports of accomplished processes, in incoming and progress tasks.
It supports hybrid, virtual and local settings in the cloud, thus improving the possibilities of process control and management.

Sierra Infosys Inc strongly claims that implementation of automation systems in IT companies results in:

Improved productivity of the company
Greater control in complete IT processes
Promptness in delivering workflow
The growth of operational efficiency

It is also predicted that IT process automation would spread to another level- business process automation.

It is significant to have a clear strategic development for the business in terms of set-up: organization and applications before selecting a resolution for process automation.

At Sierra Infosys Inc, we help you to verve beyond process automation in order to accomplish workflows of applications. This way, you can see a reduction of 25% or more of the expenses by systematizing IT processes in your business.

Robotic Process Automation,

What is Business Process Automation?

by adminJuly 6, 2018

Operational efficiency with lowered costs and productive measures is what every company target to accomplish their processes. The major requirement of the present scenario is to automate manual and repetitive work and assimilate the disparate processes in the enterprise and protect the enterprise facts at different levels by providing role-based access.

Business Process Automation is an advanced business strategy which helps to assimilate the diverse departments and applications within the business, systematize the processes, streamline the organization comprising labor and deploy secure software to perform various tasks. Thus, it helps to reduce overall costs and increase efficiency. One of the best example to explain BPA is ERP. It is used in the majority of modern enterprises.

The three major principles that lead BPA software are as follows:

Planning: Companies can construct systems that provide centralized management structure required for the business using absolute computing architecture by proper planning.

Streamlining: Various business processes, functions, and departments are combined and procedures are streamlined for enhanced outputs.

Systematize manual tasks: When multiple repetitive tasks are programmed using BPA, it results in increased productivity and better outcomes.

Business Process Automation and Outsourcing

Sierra Infosys Inc works towards providing the best business process automation solutions. By outsourcing automation needs to Sierra Infosys Inc, you can focus on your core. We assist you in getting real-time important data, construct your IT infrastructure and assist you in making informed decisions.

Our BPA solutions help to increase visibility throughout the enterprise, thereby keeping the higher management thread into various departments and alterations within.

Onboarding and recruitment process is simple with our BPA solutions that focus to assimilate various departments comprising HR with the high-level management.

Sierra Infosys Inc offers custom BPA solution and architecture with necessary BPA extensions, thereby making sure solutions encompass your enterprise capabilities. We work with the main aim to enhance the overall experience and thereby translate it into customer satisfaction.

Robotic Process Automation,

How to Choose Robotic Process Automation Vendor?

by adminJuly 5, 2018

How to Choose Robotic Process Automation Vendor?

Are you looking to implement (RPA) Robotic Process Automation in your company? Thousands of companies wish to simplify and optimize growing operations over various tasks and functions like optimizing accounting department, streamlining data transfers within company databases, improve the timeliness and quality of company’s services, and reducing operating expenses. During the course, several questions would arise such as: How to finalize RPA vendors? How to make the right choice? What are the characteristics of ideal RPA vendor?

Here Sierra Infosys Inc lists some of the key features of reputed RPA vendor:

Commitment to technology innovation: Leading RPA vendor show deep dedication to continue advancing its presently available RPA software systems. It is necessary to look for a dedicated and competitive company that provide minor releases frequently and major releases or updates once in a year.

Customer support:

Around the clock, technical support and implementation are important for facilitating automation success. It means a vendor should be open to provide phone and email support as well as personal demo’s throughout the journey of RPA. Moreover, the RPA vendor should be able to meet the changing demands of the customer over time.

Comprehensive user training:

The customer should carefully assess the product training tools as these resources play an important role for developers and business users. Most leading RPA vendor offers training in either remote or onsite mode and comprehensive access to virtual training libraries.

Streamlined user experience:

Business users should confidently create process automation using a comprehensive set of natural, self-evident features and tools. The user should feel confident and comfortable with the straightforward RPA platform.

It is not an easy task to choose the right Robotic Process Automation Vendor as there is sufficient information about the services and products easily available. We have featured some key features which will serve as a starting point to frame the best choice.

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