SAP RealSpend Budgeting App Launched by SAP
SAP RealSpend is a mobile app recently introduced by SAP which offers visibility and accessibility to up dated budgetary and spending information. Having a base on the cloud platform SAP HANA, the app obtains data from fundamental financial reporting systems in order for line managers to conduct ad hoc spending analysis and other high tech computations for live business processes.
The app was developed at Potsdam Germany/ SAP Labs Berlin by means of design thinking principles and through the input of finance professionals, managers and end users of SAP. SAP RealSpend allows line managers to spend, monitor and manage budgets actively.
Thack Brown, the SAP world leader of LoB Finance stated that SAP is a well- known leader in offering leading –edge tools for the corporate and CFO finance function for managing budgets and effective spending. He continued to state that the app makes use of cloud in the innovation of top financial cores and providing line managers and others with budgetary accountability tools that they need in making sound spending management which is a real –time activity across the whole enterprise.
The drill-down features of SAP RealSpend entail an analysis that is fine grained concerning actual and future spends, budget plans and related forecast. Financial data can also be augmented by users through particular tagging features that allow flexibility in reporting and grouping. SAP RealSpend is one of the first apps to connect to the Finance solution SAP S/4HANA in real time without necessarily replicating data. RealSpend realized the ability of the cloud platform in supporting on-premise and hybrid environments and works with other information from third party and SAP sources.