Manuscript Number : SHISRRJ221222
Standardizing Cost Reduction Models Across SAP-Based Financial Planning Systems in Multinational Operations
Authors(6) :-John Oluwaseun Olajide, Bisayo Oluwatosin Otokiti, Sharon Nwani, Adebanji Samuel Ogunmokun, Bolaji Iyanu Adekunle, Joyce Efekpogua Fiemotongha This paper addresses the critical need for standardizing cost reduction models within SAP-based financial planning systems in multinational enterprises. Variations in cost management approaches across global subsidiaries often result in inefficiencies, data inconsistencies, and compliance risks, undermining financial control and operational agility. By analyzing SAP's financial modules and the challenges of multinational contexts, this study proposes a unified framework grounded in principles of cost accounting, process standardization, and cross-border financial harmonization. The designed model incorporates clearly defined cost drivers, KPIs, benchmarking templates, and automation rules configured within SAP, supporting consistent and transparent cost optimization. A phased implementation strategy that balances global standardization with local adaptability is outlined, emphasizing stakeholder engagement, change management, and governance. Furthermore, risk mitigation and performance monitoring mechanisms are integrated to ensure system resilience and sustained financial improvements. The paper concludes with implications for enhanced scalability, predictability, and cross-functional collaboration in multinational financial planning and highlights future research avenues, including AI-driven cost optimization and hybrid ERP integrations.
John Oluwaseun Olajide SAP Financial Planning, Cost Reduction Standardization, Multinational Enterprises, Financial Governance, Process Automation, Cross-Border Financial Harmonization Publication Details Published in : Volume 5 | Issue 2 | March-April 2022 Article Preview
Lipton, USA
Bisayo Oluwatosin Otokiti
Department of Business and Entrepreneurship, Kwara State University
Sharon Nwani
Migo, Lagos, Nigeria
Adebanji Samuel Ogunmokun
United Utilities, UK
Bolaji Iyanu Adekunle
Data Scientist, GSFEN Limited, Nigeria
Joyce Efekpogua Fiemotongha
Independent Researcher, Lagos, Nigeria
Date of Publication : 2022-03-30
License: This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 150-163
Manuscript Number : SHISRRJ221222
Publisher : Shauryam Research Institute
URL : https://shisrrj.com/SHISRRJ221222