SAP S/4HANA Cloud vs. ReconNET by Trintech

The software reduces the stress of managing multiple departments in the supply chain sector. It offers great performance for both small and large businesses. With the built-in AI, it improves the overall efficiency of the organization and helps in reducing maintenance. The product customer care and support services are available 24/7.

Incentivized

It is well suited in scenarios where customers have tremendous volumes of data to deal with and where the reconciliation of the information is of paramount importance to businesses and stakeholders. We use it primarily for balance sheet reconciliations that come with features, such as exception management, which is great for focusing on the few that matter the most at the end of the day.

Incentivized

• SAP S/4HANA Cloud is entirely based on continuously monitored processes enhanced in numerous operational business areas.
• The solution allows the immediate analysis of company performance indicators due to enhanced functions.
• Ideally built on future technologies, the organization’s platform aims at providing a system intended to expand based on business complexity.

Incentivized

• The ReconNET tool has a great audit-trial system that captures every detail in the life of a record and helps eliminate any manual intervention. It's fully SOX Compliant, and helps track any changes in the data from an audit perspective.
• The automation helps us focus entirely on the exceptions, which helps eliminate attention from the mundane tasks to areas with potential problems.
• Exception management and automated posting to the GL are great features that help streamline many of the routine, mundane, and yet time-consuming activities, freeing up time to focus on issues at hand.

Incentivized

• The beginner's user-friendly UI can help learners learn easily, and it feels a bit complex.
• Implementation of AI bot on common tasks.
• There are no offline functionality that users can use remotely.
• As the scalability of the products grows, they become more expensive.

Incentivized

• It takes a little bit of practice to get the hang of the tool to set up the reconciliations, but its not necessarily a drawback, since this applies to every other automation tool out there. However, once someone gets the hang of it, it's pretty user-friendly to run it on a daily basis.
• Since automatons can only be built on a set logic, at times certain items that show up as exceptions are not truly a cause of concern. However, since it's always better to flag too many potential exceptions than too few, it's not a true drawback.
• It has quite a few features, such as multi-currency reconciliation, bank deposits, disbursements, automated postings to G/L, etc. which could be of great value for various requirements for clients. It is especially useful where volumes of data are too large to deal with. The uses might not be phenomenal for low volume reconciliation requirements.

Incentivized

I am not part of the team that makes this decision but I would recommend renewing the contract. Most employees at Tennant are long term employees and would find it difficult to change to a different software. They are comfortable using SAP.

Incentivized

SAP S/4HANA Cloud has a super flexible and intuitive dashboard, allowing every user to navigate effectively. It also has powerful customer help, which acts as a guide for new subscribers. The features deployed are realistic and functional, without defects. Constant changes and updates are proactively shared.

Incentivized

The support system I find great as whenever I run into problems they rectify them quickly as possible they never reacted late the support is just up to the mark for me. They provide many solutions to the problems I faced the [technical] team support is always amazing they [listen] to mean work accordingly.

More effective

Incentivized

SAP requires
a lot of internal and external resources to complete its successful
implementation. The cloud version requires a deeper understanding of the
different capabilities of the local systems (hardware) and the connection
towards your local IT team. We found several problems on our systems that we
couldn't foresee before the implementation and roll out.

Incentivized

Previously we had implemented Azure Cloud Services which had cost us excessively compared to SAP cloud. Also I found the user interface easier to work with compared to the azure cloud as well. Overall the features are really good compared to Azure and cost is also less compared to it

Incentivized

Each automation tool has its own set of features, but the fact that ReconNET is built for reconciliation purposes sets it apart from the rest. The ease of usage once the user gets a hang of it, the extensive audit trial, and the ability to focus on exceptions rather than the necessity to scroll through a bulk of irrelevant information, all provide the key-user with the critical decision-making ability.

Incentivized

• Surpasses many well reputed applications in terms of performance and data insight when you are into SAP products
• More reliable and secure as we are not going to create multiple copy of master data, one single shared master data and all will work like charm
• For authentication we can also use Microsoft MFA or Google single sign-on , so less complexity
• For customized business process, we can implement extension packages which are like templates

Incentivized

• It definitely has a positive impact on ROI with freeing up resource availability and usage on the most pressing tasks at hand. For example, focusing on exceptions rather than reconciling from scratch.
• Another positive impact on the ROI can be realized with the detailed audit trials on sensitive information.
• Strong Financial Reporting is the backbone of any industry, regardless of the sector it operates in, and having an automated reconciliation tool such as ReconNET helps you attain the key objective of integrity of information in a timely fashion, to support the close process.

Incentivized