[
SAP Adv... Reviews
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[
SAP Adv... Reviews
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# SAP Advanced Financial Closing Features

##### 
## Reconciliation (3)

Consolidation

Data from multiple systems can be centralized into a single repository

Management

Financial information can be imported from multiple sources such as spreadsheets, text files, or databases

Accounting

Match invoices, payments, and bank statement information

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##### 
## Reporting (3)

Report Types

Provide multiple types of reports such as point-in-time snapshot reports, or year over year

Standard

Offers standard financial reports out of the box

Custom

Allows users to edit reports and to combine multiple reports

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##### 
## Closing Process (3)

Audit

Creates workflows to assign tasks for audit and inspections, monitor work in progress, timelines, and approvals.

Journal Entries

Adjusts journal entries in order to have an accurate balance sheet and income statement

Distribution

Financial statements and statistical reports (such as KPI) can be assembled into financial packages

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##### 
## AI - Financial Close (5)

Autonomous Task Execution

Capability to perform complex tasks without constant human input

Compliance

Uses AI to ensure the following of rules and creates detailed audit trails which helps compliance and audit preparation.

Reconciliation

Uses AI to match transactions across accounts and systems, and flag exceptions and discrepencies.

Data Collection

Uses AI to extract, clean, and validate financial data from disparate sources, while identifying errors and inconsistencies.

Analysis

Generates AI-assisted financial reports and provides thorough analytical insights.

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## Top-Rated Alternatives

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BlackLine Financial Close Management

4.5/5

(1,050)

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[

 ![FloQast](https://images.g2crowd.com/uploads/product/hd_favicon/8879cabe97b0a5cf9c4cd643615a107b/floqast.svg "FloQast")

FloQast

4.6/5

(1,393)

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[

 ![Workiva](https://images.g2crowd.com/uploads/product/hd_favicon/8845cbdae0f5f9ef98fcde16c1e2f544/workiva-workiva.svg "Workiva")

Workiva

4.5/5

(2,131)

](https://www.g2.com/products/workiva-workiva/reviews)

[
View All Alternatives
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SAP Advanced Financial Closing Comparisons

 ![Product Avatar Image](https://images.g2crowd.com/uploads/product/image/small_square/small_square_558e0aa21ea4876096e0aff8f8e3b4dc/blackline-blackline-financial-close-management.jpg "Product Avatar Image")

BlackLine Financial Close...

4.5/5

(1,068)

[
Compare Now
](https://www.g2.com/compare/blackline-blackline-financial-close-management-vs-sap-advanced-financial-closing)

##### Categories on G2

[
Financial Close
](https://www.g2.com/categories/financial-close)

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Pros and Cons Details
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