Unlock the Future of Financial Forecasting with AIVIAN in SAP Analytics Cloud
Looking to improve your financial forecasting? Discover AIVIAN’s seamless integration with SAP Analytics Cloud (SAC) to supercharge your financial decision-making in a fast-paced business environment.
The Drawbacks of Traditional Forecasting Methods
Forecasting is an important element in any finance department, but traditional manual methods leave much to be desired. Not only are they prone to human error and bias, but they’re also incredibly time-consuming and resource intensive. These limitations can directly impact your department’s effectiveness and put your strategic planning at risk.
Upgrade to AIVIAN: Efficient and Accurate Forecasting
That’s where AIVIAN comes in. As an AI-driven platform designed specifically for the financial sector, AIVIAN eliminates the inefficiencies and inaccuracies of manual methods. Our cutting-edge algorithms sift through massive datasets to provide accurate forecasts on-demand. Imagine cutting your forecasting time to a mere few days, while maintaining or even increasing accuracy – that’s the power of AIVIAN.
Effortless Integration with SAP Analytics Cloud
When AIVIAN is paired with SAP Analytics Cloud, the synergy created is nothing short of revolutionary. Your finance department gains a 360-degree view of your business operations, with actionable insights at your fingertips. The integration is seamless, different options exist depending on your requirements and landscape – we evaluate together which fits the best for your planning solution.
How Does It Work?
We recommend uploading at least three to five years of historical data to unleash the full potential of AIVIAN’s AI capabilities. From there, it’s as simple as a few clicks to integrate this data into your existing SAP Analytics Cloud workflow. Various possibilities exist to derive input data, trigger the AI forecast generation, and write the data back into your SAC planning model. Possible technical integrations include REST-API calls or automated imports from a source system. The specific technical architecture and data flow needs to be evaluated depending on your requirements.
Once integrated into SAC, the AI-generated forecast can be used in various ways and can be refined using your team’s experience. One common use case is to generate the forecast upfront to the planning period, to be used as starting point for your planning or target setting process within SAC. Another common use case focuses on challenging manually generated forecasts with AI-generated forecasting results. If you are looking for on-demand integration, up-to-date forecasts can be generated on a button click and used directly within SAC planning or reporting apps. These are only some examples. However, various other options exist.
The screenshot below shows the integration of an AI-generated Revenue forecast in SAC for comparing AI-based planning results to manual planning.
Comparison of AI-based forecast to manual planning in SAC
Human and AI: A Perfect Blend for Your Team
By combining AI-generated forecasts with your team’s specialized knowledge, you achieve a level of precision that’s simply unattainable with traditional methods. This means your forecasts will be tailored to your business’s unique needs, allowing you to strategically allocate resources and make data-driven decisions like never before. We know about the challenge of transformation: people and machines. You can find out how to successfully master the change in our blog post: „Successfully through the transformation“.
Ready to Take the Next Step?
Imagine having actionable, accurate forecasts within a few days, with less people spending time on planning. Contact us to recreate your planning journey and see firsthand how AIVIAN and SAP Analytics Cloud can elevate your finance department’s effectiveness.
Tanja Aue is Consultant for Advanced Planning with a dual master’s degree in finance and information systems and 3 years of experience in finance advisory and IT. Tanja specializes in digitalization and automation, harnessing advanced analytics to optimize financial processes, effectively bridging the gap between business requirements and technical design.
Bettina Bauer has been a Senior Consultant at verovis since November 2021 and has headed the Planning & Forecasting consulting field together with Senior Consultant Alexander Fath since the beginning of 2022 and has been a Business Advisor at verovis since mid-2023. She has over three and a half years of professional experience in controlling and is passionate about future topics in the finance sector.
Explore More:
Interested in further enhancing your financial processes? Check out our other solutions in Planning & Forecasting and Data Science & Advanced Analytics. Or read our blog post „Successful planning with AI in the financial sector“ to find out what an innovative, AI-supported financial planning process looks like.
Questions for our experts? Get in touch with us!
Von Team #valantic Digital Finance
