Hugo Ehrnreich, CEOPredictive analytics is a significant component of SAP which guides in analysis of big data across various platforms. SAP's Enterprise Performance Management (EPM) improves the business performance through integration and analysis of data from various resources. According to a report from MarketsandMarkets, the global spending on predictive analytics will top $5 billion by 2018. Today, SAP’s EPM portfolio’s consumers demand efficient planning, budgeting, and forecasting capabilities with management of legal consolidation functionalities to cater accurate and real time financial reporting and predictive analytics. The Netherlands-based CXO-Cockpit offers a web-based and mobile Strategic Performance Reporting and Dash boarding for SAP EPM applications that are financially intelligent, highly flexible, robust, and intuitive with low implementation times. “The SAP landscape is fragmented with many hybrid solutions. We have specifically designed a simple, single integrated suite for the SAP BPC environment that is native, live, and seamless across all devices and output media that helps SAP clients unleash the full power and ROI of SAP BPC,” begins Hugo Ehrnreich, CEO at CXO-Cockpit.
The Excel-driven reporting processes and non-financially intelligent generic BI tools still used by many organizations lack the agility and focus on governance, dynamic guided analysis and commentary required to guarantee an 100 percent human error-free single version of the truth, and shared and trusted narrative of business performance. The result, finance teams still spend the majority of time on producing static numbers, rather than effective creating and sharing dynamic insight. CXO-Cockpit was founded by a team of finance and EPM professionals who identified this challenge and decided to solve it once and for all. “Our advanced strategic performance reporting solution dramatically reduces the reporting cycle and eliminates the errors and risks associated with Excel-driven or generic SAP reporting tools,” asserts Ehrnreich.
CXO-Cockpit provides advanced financial reporting for SAP Business Planning and Consolidation (BPC) to help their clients unleash the full value and potential of their staff, SAP BPC data and system.
We help unleash the full power of your SAP EPM systems by closing the last mile of strategic performance reporting
Not only helping teams spend less time on low value-added activities and more on analysis and support to the business, but also providing top executives with the full benefits of this information with dynamic (as opposed to static) reporting and dashboards. Leveraging financial close and reporting workflow processes, report-level exception and KPI calculations, and dynamic exception reporting, this ensures optimal and efficient decision-making. “We’ve not developed a generic suite of products, but built a platform that is specifically designed for SAP, is business/finance-owned and built for executive use,” affirms Ehrnreich.
CXO-Cockpit has engi¬neered a dedicated connector for the SAP BPC (both Win¬dows and NetWeaver), SAP Business Ware¬house (BW) and SAP HANA environment that seamlessly connects to the SAP BW Info Provider cubes and directly unlocks the full data, meta-data and “financial in¬telligence” built into these systems without the need for (and risks associated to) staging areas, redundancy in data and double-maintenance. “We’ve designed a connector that interfaces with the data, systems and hierar-chies that exists in SAP, so you just have to plug and play and leverage all the hard work and time already put into setting up SAP,” states Ehrnreich.
In the days ahead, CXO-Cockpit will continue to focus on its specialization on strategic performance reporting through integrated dashboards in the EPM and Finance arena. Within its hybrid vision of cloud, its future roadmap focuses on achieving a single, integrated and secure management view across a heterogeneous reality of multiple clouds and on premise systems. “I expect a hybrid future of multiple clouds combined with on premise systems and the challenge will be to bring that all together in a secure fashion,” concludes Ehrnreich.