BEST GL Recons vs 3rd Party GL Solutions

BEST GL Recons vs 3rd Party GL Solutions

Common GL Recon Functionality

bestsap-tickAutomated GL Reconciliationsbestsap-tickReconciliation Notes & Attachmentsbestsap-tickAutomated Approvalsbestsap-tickAutomated Rejections
bestsap-tickRecon Approval & Audit Trailbestsap-tickManagement & Exception Reportingbestsap-tick Open Item Clearingbestsap-tickPosting of Adjustments

Common GL Recon Functionality

bestsap-tickAutomated GL Reconciliationsbestsap-tickReconciliation Notes & Attachments
bestsap-tickAutomated Approvalsbestsap-tickAutomated Rejections
bestsap-tickRecon Approval & Audit Trailbestsap-tickManagement & Exception Reporting
bestsap-tick Open Item Clearingbestsap-tickPosting of Adjustments

Common GL Recon Functionality

  • bestsap-tick Automated GL Reconciliations
  • bestsap-tick Reconciliation notes & attachments
  • bestsap-tick Automated Approvals
  • bestsap-tick Automated Rejections
  • bestsap-tick Recon Approval & Audit Trail
  • bestsap-tick Management & Exception Reporting
  • bestsap-tick Open Item Clearing
  • bestsap-tick Posting of Adjustments

BEST GL
FUNCTIONALITY

OTHER THIRD PARTY
SOLUTIONS

bestsap-tickAll functionality in SAP – no interface requiredbestsap-crossTransactional data to be interfaced and duplicated in 3rd party system
bestsap-tickReal Time – no updates requiredbestsap-crossNot real time – updates required
bestsap-tickNo need to recreate existing SAP Standard Functionality i.e. Journal Postings, Authorisation, Closing Cockpitbestsap-crossIn house solutions required to be created to replicate pre-existing SAP Standard solutions
bestsap-tickAdjustments are made directly in transactional system (SAP)bestsap-crossAdjustments need to be interfaced to transactional system
bestsap-tickClearing is done directly in transactional system (SAP) – no interfaces or status syncing between SAP and Reconciliation systembestsap-crossClearing has to be recreated in SAP to keep statuses in sync
bestsap-tickUse existing SAP authorisations with additional BEST rolesbestsap-crossAdditional authorisations to be created for 3rd party system
bestsap-tickExisting SAP logons and system used for BEST GL Modulesbestsap-crossAdditional system to log into for managing recons
bestsap-tickBEST GL Modules look and feel like SAP and can be easily used by existing SAP usersbestsap-crossNew system requires all new training and learning of a foreign system by user community
bestsap-tickSAP reports can be attached directly from spool list – no printing requiredbestsap-crossData confidentiality concerns with financial transactional data stored in 3rd party system
bestsap-tick3 way Bank Recon check – GL Balance to SAP Statement Table Balance to Physical Bank Statementbestsap-crossRequires remote access and related controls to access SAP System Data
bestsap-tickDrill down capability into source transactions directly from Reconciliation Reportsbestsap-crossRequires remote access and related controls to access SAP System Data
bestsap-tickReal Time Inter Company specific solutions to cater for high volume complex Inter Company relationships. SAP Standard Organisational Units are inherently embedded in solution.bestsap-noExtract driven solutions that are not real time
bestsap-tickCompliance and Risk Control managed by Management Reportingbestsap-no3rd Party systems exist outside of SAP Authorisation and inherent SAP Compliance & Audit Controls
bestsap-tickAll Historic Reconciliations and Approval Audit History available online all the time within SAP systembestsap-crossHistoric Recons are not in SAP and require login to 3rd Party system
bestsap-tickReasonably Pricedbestsap-crossHigh Pricing Model dependent on 3rd Party Product
bestsap-tickProduct implementation and upgrades are managed via Customer SAP Deployment Methodologybestsap-crossImplementation and Upgrades are managed outside of Customer SAP Deployment Methodology
bestsap-tickBEST is a SAP Development Partner and BEST Products are annually Certified with SAP on the latest product versionbestsap-noSAP Partner relationship dependent per 3rd Party Product

BEST GL
FUNCTIONALITY

bestsap-tickAll functionality in SAP – no interface required
bestsap-tickReal Time – no updates required
bestsap-tickNo need to recreate existing SAP Standard Functionality i.e. Journal Postings, Authorisation, Closing Cockpit
bestsap-tickAdjustments are made directly in transactional system (SAP)
bestsap-tickClearing is done directly in transactional system (SAP) – no interfaces or status syncing between SAP and Reconciliation system
bestsap-tickUse existing SAP authorisations with additional BEST roles
bestsap-tickExisting SAP logons and system used for BEST GL Modules
bestsap-tickBEST GL Modules look and feel like SAP and can be easily used by existing SAP users
bestsap-tickSAP reports can be attached directly from spool list – no printing required
bestsap-tick3 way Bank Recon check – GL Balance to SAP Statement Table Balance to Physical Bank Statement
bestsap-tickDrill down capability into source transactions directly from Reconciliation Reports
bestsap-tickReal Time Inter Company specific solutions to cater for high volume complex Inter Company relationships. SAP Standard Organisational Units are inherently embedded in solution.
bestsap-tickCompliance and Risk Control managed by Management Reporting
bestsap-tickAll Historic Reconciliations and Approval Audit History available online all the time within SAP system
bestsap-tickReasonably Priced
bestsap-tickProduct implementation and upgrades are managed via Customer SAP Deployment Methodology
bestsap-tickBEST is a SAP Development Partner and BEST Products are annually Certified with SAP on the latest product version

OTHER THIRD PARTY
SOLUTIONS

bestsap-crossTransactional data to be interfaced and duplicated in 3rd party system
bestsap-crossNot real time – updates required
bestsap-crossIn house solutions required to be created to replicate pre-existing SAP Standard solutions
bestsap-crossAdjustments need to be interfaced to transactional system
bestsap-crossClearing has to be recreated in SAP to keep statuses in sync
bestsap-crossAdditional authorisations to be created for 3rd party system
bestsap-cross