what is business planning and consolidation

SAP BPC – What is Business Planning and Consolidation?

What is SAP BPC?

SAP BPC is a SAP module that provides planning, budget, forecast, and financial consolidation capabilities. SAP BPC meaning Business Planning and Consolidation. It provides a single view of financial and operational data and a unified solution that supports Performance Management processes like adjust plans and forecasts or speed up the budget and closing cycles.

It delivers built-in functionalities for

• Strategic Planning
• Forecasting

There are two platforms in SAP BPC finance. About 80% of its functionality is same except the difference in the back-end. In each platform, there is two version.

• SAP BPC MS (Microsoft Platform) – SAP BPC 7.5 MS and SAP EPM 10
• SAP BPC NW (Net Weaver Platform) – SAP BPC 7.5 NW and SAP BPC 10 NW.

Like any other module, SAP BPC module too holds master and transaction data. BPC in SAP is divided into two components namely “ Administration ” and “ Reporting “.

SAP BPC Overview

For any organization to run a business successfully financial planning, budgeting, and forecasting are important attributes. SAP BPC software provide everything in one package.

• Unified – Planning and Consolidation in One Product. Single application lessens maintenance, enhance data integrity, and simplifies deployment. It also enables flexible planning & consolidation functions
• Owned and Managed by Business Users : – Business users manage processes, models & reports with little IT dependence.
• An open, adaptable application : – Extends the value of your investment in both SAP and non-SAP environments
• Familiar, Easy to use : – It is easy to use and support native Microsoft Office tools (e.g. Excel) and web browsers accessing a central database.
• Align Financial and Operational plans : – It helps to determine financial goals and operational plans with strategic objectives.
• Reduce budget cycle time : – It helps to reduce budget cycle time.

Let’s see each attribute of SAP BPC in detail,

It helps management team to formulate its vision, mission, core values, and objectives. The team develops strategic plans to uphold its competitive advantage in the marketplace. It helps them to answer the following questions.

• What does corporate want to be?
• What to do?
• How to measure what we do?
• What do operating units need to do to achieve corporate objectives?

It is not just a prediction of future results. It is also a plan of actions and expected operations of the organization over the next year. Budgeting is done for proactive management and measurement of corporate performance.

• How to execute corporate strategy at operating unit level?
• How to measure what operating units do?
• What is the quantitative execution plan of operating units?

It ensures performance progress is monitored, problems are anticipated, and continuous improvement efforts are promoted.

• How to measure that we perform towards achieving our targets and objectives?
• What information would help management decision making?
• How to control performance of corporate?

It is the act of predicting outcomes. It is done throughout the year to reflect changes that have occurred both in the internal and external environment. It determines how the internal or external environment impact on the original plans and budgets? The main objective is to provide more accurate information for less risk management planning and decision making.

What is EPM in SAP?

The EPM solution use is widening over the financial divisions. It is similar to CPM (Corporate Performance Management), BPM( Business Performance Management) and FPM (Finance Performance Management). EPM is being used as a unique repository to manage relevant information.

SAP BPC Architecture

SAP BPC Architecture. It uses various business rules and script logics for doing the planning. The key components in BPC architecture are shown in the image below.

BPC Administration

BPC Administration allows administrators to perform maintenance and setup tasks for BPC client applications.

How to start BPC administration

BPC financial administration has two interfaces; a client application and a web interface. The administration action pane lists the available tasks for both interfaces

To start BPC administration

• Open a browser and type http://<server name>/osoft, where <server name> is the name of your BPC server.
• From the Windows Start menu, select SAP > BPC
• From your Windows Desktop, click the BPC icon
• From the Launch page, select BPC Administration
• From the Administration action pane, select the desired task

The console client is a Microsoft explorer-like window. Where we manage items such as application sets, applications, business rules, dimensions and business process flows. The browser client allows to control application set and application properties, as well as maintain BPC web parameters.

Creating a new dimension

Dimensions represent the entities of a business (e.g., accounts, company codes, and categories). They represent the master, text, and hierarchy data for each of the business entities.

It is possible to create new dimensions in a BPC application set. There is no restriction to create a number of dimensions in SAP BPC. These dimensions then become shared dimensions that are available for use in any application within the appset.

Some dimensions are required dimensions. It must exist in all the applications within an application set. While the dimension type determines the default properties to be included in the dimension. It is possible to add additional properties as needed.

Dimension types

Required in each application

• A = Account type dimension
• C = Category type dimension
• E = Entity type dimension
• T = Time type dimension

Required in each application set

• R = Currency type dimension

Needed to validate currencies that are input in Entity type dimension. This may not be part of any applications within the application set

Required for Intercompany Eliminations

• I = Intercompany

It is also possible to create additional dimensions as a requirement

Un = User defined dimension type. For each user-defined dimension, the number ‘n’ will be incremented. For e.g; U1, U2, U3 and so on

Creating Dimensions

Select Dimension Library on the left side. The action pane will display the related dimension tasks.

To create a new dimension, click on “Add a new dimension”.

Similarly, it is possible to copy, modify, process and delete dimensions. While adding dimensions, you need to enter reference type.

Next in this SAP BPC training, we will learn about BPC reporting.

BPC Reporting

BPC for Office combines the power of BPC with the rich functionality of Microsoft Excel , Word, and Powerpoint. With BPC for Office, we have all of the Microsoft functionality we are used to. On top of it documents, worksheets, and slideshows can be linked directly to the BPC database that has Company’s reporting data.

BPC for Office allows to collect data, build reports, perform real-time analysis and publish reports in a variety of formats. You can save your reports so that you can use them disconnected from the database. You can take reports completely offline and distribute them based on user access rights

A sample layout looks as follows

BPC Security

BPC security is managed in Administration Console. There are four key components in BPC security?

• Users : It is used to add users to the environment and manage their access rights
• Teams : You can define a group of users with same access rights
• Data Access Profiles : It enables setting up profiles for tasks to be performed.
• Task Profiles : It is used to set up profiles and enable access to data in models.
• BPC definition or SAP BPC means: A SAP module that provides planning, budget, forecast, and financial consolidation capabilities.
• BPC stands for Business Planning and Consolidation.
• SAP BPC provides you with a single view of financial and operational data.
• SAP BPC delivers built-in functionalities for
• SAP BPC Administration is a tool that allows administrators to perform setup and maintenance tasks for BPC client applications.
• SAP BPC supports Microsoft Excel, Word, and Powerpoint. SAP Business Planning Consolidation for Office allows to collect data, build reports, perform real-time analysis and publish reports in a variety of formats.

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What Is Business Consolidation?

How business consolidation works, types of business consolidation.

• Advantages and Disadvantages

Example of Business Consolidation

• Corporate Finance

Business Consolidation: Definition, How It Works, and Example

The term business consolidation refers to the combination of different business units or companies into a single, larger organization. Business consolidation is a legal strategy that is often initiated to improve operational efficiency by reducing redundant personnel and processes. Often associated with mergers and acquisitions (M&A), business consolidation can result in long-term cost savings and a concentration of market share no matter how expensive and complex it may be in the short term.

There are various types of business consolidation, including statutory consolidation and variable interest entities.

Key Takeaways

• Business consolidation is a combination of several business units or companies into a single, larger organization.
• The reasons behind consolidation include operational efficiency, eliminating competition, and getting access to new markets.
• There are different types of business consolidation, including statutory consolidation, statutory mergers, stock acquisitions, and variable interest entities.
• Consolidation can lead to a concentration of market share and a bigger customer base.
• Some of the disadvantages of consolidation include dealing with cultural differences between firms and potential issues with personnel.

Consolidation happens when two or more companies merge to become one. Also known as amalgamation , business consolidation is most often associated with M&A activity. This generally happens when several similar, smaller businesses combine to form a new, larger legal entity. In most cases, the smaller entities cease to exist after being swallowed up by the acquirer.

Combining multiple companies or business units into a brand new entity is the most drastic option. This may be an expensive proposition if one of the merging companies is liquidated . The process may carry additional costs associated with creating a new brand . But businesses that want to consolidate their operations have other options at their disposal, including the movement of smaller operations into an existing company that won't be dismantled.

The reasons behind consolidation vary, and there are many. They include but aren't limited to:

• Operational efficiency
• Eliminating the competition for customers and/or resources
• Access to and expansion into new markets
• Innovation and new products
• Cheaper financing options for bigger businesses
• Shared operations
• Increased revenue

Regardless of the rationale, businesses can't and shouldn't take the decision to consolidate lightly. Not only are the costs associated with consolidation fairly heavy, but there are also other things to consider. For instance, executives and other key personnel have to satisfy the concerns of shareholders , they must consider what happens with workforce redundancies, whether to sell assets , and how to market and brand the new company once the whole process is complete.

There are antitrust laws and regulations in place to discourage monopolies that may arise as a result of business consolidation.

Just like company types, there are many different kinds of business consolidation. It all depends on the strategy, the desired outcome, and the nature of the businesses involved.

• Statutory Consolidation: When businesses are combined into a new entity, the original companies cease to exist. By combining them together, they create a new, larger corporation . As such, statutory consolidation is normally done through a merger .
• Statutory Merger: This kind of business consolidation occurs when the acquirer liquidates the assets of its target. Once done, the acquirer incorporates or dismantling the target company's operations. Unlike a statutory consolidation, the acquiring company keeps its operations going, while the acquired entity no longer exists.
• Stock Acquisition: This is a combination of businesses in which an acquiring company buys a majority share or a controlling interest of another company. In order for it to be a majority share, the acquirer must buy more than 50% of the target. Both companies end up surviving.
• Variable Interest Entity: When an acquiring entity owns a controlling interest in a company that is not based on a majority of voting rights, it is referred to as a variable interest entity . These entities are normally established as special purpose vehicles (SPVs).

Advantages and Disadvantages of Business Consolidation

There are many advantages to combining two or more business entities together. But with the positives, there also comes a lot of negatives. We've listed some of the key pros and cons for this business strategy.

As noted above, combining businesses or business units into a larger entity often increases the new company's bottom line. This means it may be able to cut costs and boost revenue . The new company may also be able to use its larger size to extract better terms from suppliers. That's because it is more likely to buy more units to satisfy a larger consumer base.

Newer, smaller, and/or struggling businesses may have problems getting access to capital in order to grow. But consolidated businesses may have an easier time obtaining financing —often at cheaper rates. This is especially true if the newly formed entity is more stable, more profitable, or has more assets to use as collateral .

Business consolidations can result in a concentration of market share, a more expansive product lineup, a greater geographical reach, and therefore a bigger customer base.

Disadvantages

Companies that combine operations must deal with cultural differences between firms. For example, merging an older, established technology company with a small startup company may achieve a transfer of knowledge, experience, and skills, but it may also lead to clashes. The older firm's management may feel more comfortable with strict corporate hierarchies , while the startup company may prefer less administrative authority over operations.

Some businesses may find that their synergies are well-suited for consolidation. But that may backfire if one or the other has far too much debt . Consolidation, therefore, may increase the new company's debt load. If not addressed, it can be problematic for the company's management and, ultimately, its shareholders if the company is public.

While it may lead to cost-cutting and increased revenue, business consolidation does have a negative economic effect. That's because it often leads to redundancies in the workforce, which often ends in layoffs and unemployment , even if not on a major scale.

Cut costs, boost revenue, and get better terms from suppliers

Easy access to (cheaper) financing

Larger market share, product line, geographical reach, and customer base

Cultural differences between firms

Increase in debt load

Redundancies in the workforce often lead to layoffs and unemployment

As noted above, the process of business consolidation is often associated with mergers and acquisitions. To show how it works, let's use a hypothetical example. Suppose Company 1 (the larger company) decides it wants to acquire smaller rival Company 2. Shareholders, management, and the board of directors of both companies all approve of the deal. Once the consolidation takes place, both companies operate under Company 1's name while Company 2 ceases to exist.

Askinglot. " What is business consolidation? " Accessed May 25, 2021.

GoCardless. " What is business consolidation? " Accessed May 25, 2021.

CFI. " Motives for Mergers ." Accessed May 25, 2021.

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What Is SAP Business Planning and Consolidation?

SAP is one of the leading providers of enterprise resource planning (ERP) systems. It’s better than similar services in its category; SAP even outperforms Oracle ERP . 

SAP Business Planning and Consolidation (SAP BPC), one of the top corporate performance management (CPM) systems, is another of its high-quality offerings. It enables companies to create and adjust strategic plans, speed up budget and closing cycles, and ensure financial reporting standards. 

It’s a great module to add to your existing SAP Business ByDesign ERP, letting you consolidate all your business processes into a single all-in-one solution—without significantly affecting your SAP ByDesign implementation costs .

SAP BPC is a planning and consolidation solution that greatly benefits fast-growing and rapidly changing small to mid-market businesses. It delivers operation and financial capabilities, including planning, budgeting, forecasting, and financial consolidation functionalities, allowing enterprises to improve strategic planning and results to drive revenue and profitability.

Benefits of SAP Business Planning and Consolidation

SAP BPC can be greatly advantageous, directly affecting how your business makes decisions, collaborates between departments, and achieves its goals. Here are some reasons why you should consider adding it to your SAP Business ByDesign ERP:

High Usability

SAP BPC is a single-deployment solution for various planning and financial tasks. These include planning, budgeting, forecasting, reporting, and management consolidations. It has various uses that can increase efficiency in different departments.

Better Decision Making

SAP BPC can provide budget plans, forecasts, and analysis that can help you derive better insights to inform your business decision-making. You can base plans on what-if analyses and scenario planning for better outcomes, as well as assess budgets and forecast models in real-time, adjusting as needed.

Improved Collaboration

Your teams can work together on a single viewpoint in SAP BPC. This lets you break down communication barriers and information silos, improving accountability and work accuracy with it.

Increased Efficiency

Connect your departments to the same data points and processes with SAP BPC, allowing you to shrink cycle times, close the books fast, reduce your forecasting cycle, and accurately align your plans with strategic goals.

Flexible Deployment

SAP BPC is available as both on-premise and cloud deployment. Being able to choose your method of implementation allows you to increase accessibility on your own terms.

Key Functions of SAP Business Planning and Consolidation

SAP BPC helps you create an even more integrated ERP system. Here are the key functionalities that you can benefit from after implementation:

Unified Planning and Collaboration

SAP BPC, added to SAP Business ByDesign, completes an all-in-one integrated software solution for business planning and consolidation. This allows you to save time and reduce errors as you come up with strategies and achieve your goals.

Financial Intelligence

SAP BPC comes with robust financial intelligence tools that enable you to automate aggregations, allocations, and other manual processes. It allows you to speed up planning cycles and identify quick course corrections for every what-if scenario.

Microsoft Office and Web Reporting

SAP BPC can help you engage stakeholders across finance touchpoints and throughout the platform with Microsoft Office and HTML5. It also gives you enhanced visualization with SAP Analytics Cloud.

Management Consolidations

Complete all your financial reporting requirements with speed and accuracy with SAP BPC’s management consolidation functionalities (which include automation).

Budgeting and Forecasting

Generate what-if models and scenario plans to assess your business’s budget suitability in real-time. SAP BPC also lets you build forecast models that you can update and adjust as you go.

Get SAP ERP With Navigator Business Solutions

SAP Business ByDesign consolidates all your business processes into one system. The all-in-one solution meets all your departmental needs, and this is made even easier with SAP BPC.

Find out how SAP Business ByDesign and SAP BPC can fit your business requirements and how you can get started in integrating its modules into your operations.

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How Can SAP BPC Help? Overview and Key Benefits

Home > Insights > How Can SAP BPC Help? Overview and Key Benefits

Have you ever wondered what it would be like if there was a one-stop-shop solution that allowed you to build budgets, adjust plans, and consolidate organizational activities in the same place? Well, with SAP , there is.

Cue SAP Business Planning and Consolidation (SAP BPC).

Read on to learn how the solution can help streamline your business processes and maximize your technical investment, as well as how our team of consultants can provide the support you need to succeed.

What is SAP BPC?

SAP Business Planning and Consolidation is a native SAP module that provides budgeting, planning, forecasting, and financial consolidation capabilities to help companies adjust business plans, improve the efficiency of financial cycles, and ensure compliance.

The SAP BP&C application offers pre-built functionality for improved:

• Strategic planning
• Forecasting

The BPC platform also offers functionality for two platforms, Microsoft Excel and Microsoft Office (SAP BPC MS) and SAP NetWeaver (SAP BPC NW), and each platform contains two versions to provide the most accurate and reliable tools to hold, manage, and store transaction and master data.

SAP BPC as an EPM Solution

SAP Business Planning and Consolidation provides users with an enterprise performance management (EPM) solution that helps companies build a unique repository for relevant business data and improve planning, reporting, and analysis features within the SAP Analytics Cloud.

With SAP EWM and BPC solutions, companies can improve operational and financial performance management processes, like financial consolidation, supply chain performance management, business strategy management, and more.

Key Capabilities of the Solution

Now that you have a better understanding of BPC in SAP let’s take a closer look at the key capabilities of the solution.

Built-in Business Intelligence

The SAP Business Planning and Consolidation solution offers built-in financial intelligence features that help companies eliminate the need for manual data entry and other business processes and run “what-if” scenarios to ensure they are adequately prepared for any business or market change.

With BPC’s intelligent features, automating tedious manual processes, like allocations or aggregations, is simplified, making way for faster, more efficient planning cycles.

Integration with SAP Analytics Cloud and SAP S/4HANA

On the one hand, BPC can be integrated with the SAP Analytics Cloud to provide a more collaborative approach to crucial planning processes, enhance financial data visualization, and improve predictive analysis functionality.

Conversely, the BPC platform is also embedded within the SAP S/4HANA cloud, making it even easier for companies to plan, consolidate, and analyze business process flows in real-time. And, because BPC’s integrated software solution is embedded in an on-premise solution like S/4HANA, integrations between critical financial and operational functions within SAP are simplified.

SAP BPC also helps engage important stakeholders throughout the enterprise by connecting core SAP functionality with other external solutions like Microsoft Excel and HTML5.

Unified Planning Solutions

SAP BPC offers a single software solution with built-in integration capabilities to not only help customers save valuable time by automating manual tasks but also reduce data entry, duplication, and migration errors with a single source of truth.

With one solution and pre-built integrations between applications and modules, companies will have the correct data whenever and wherever they need it.

More Accurate Business Consolidations

With SAP BPC, users can automate the consolidation process and enable better productivity across their entire SAP landscape.

This means that instead of wasting valuable time handling tedious auditing and closing processes, the BPC solution automates legal and management consolidations to help you deliver a quick and accurate close.

Automation of your financial processes not only enables you to meet financial reporting standards but also provides a complete and accurate audit trail to keep up with financial operations in the long run.

Improved Reporting and Forecasting

Improved web reporting, “what if” modeling, and strategic scenario planning features help companies assess their budget and closing cycles in real-time and enhance engagement and visualization.

The BPC solution allows companies to build in-depth budget models and determine the best course of action when budgeting or forecasting changes need to be made.

Top 5 Advantages for Your Company

Here are a few main advantages of SAP BPC for your organization:

Organizational alignment:

Alignment between employees, teams, and areas of your organization is crucial to the success of your entire organization.

BPC improves alignment by offering a single source for all of your organizational data and streamlines data management processes to determine organizational goals and outline plans to achieve them.

Improved productivity:

SAP BPC automates time-consuming manual processes, saving your team valuable time and maximizing budget cycle efficiency in the process.

With its automation capabilities, integration compatibility with other systems, and one-stop-shop solution for data monitoring, reporting, and analysis, the SAP Business Planning and Consolidation solution improves overall system efficiency and employee productivity.

Adaptable system organization:

With SAP’s business planning and consolidation features, SAP customers have all the tools needed to simplify legal and management reporting processes and store all necessary operational and financial data in one place on-premise or in the cloud. Users can also easily change data management and organizational operations to meet growing or evolving market needs over time.

Maintained legal compliance:

With BPC functionality, customers can leverage advanced reporting capabilities and detailed financial records to manage, consolidate, and store vital financial records safely and securely.

In the case of an audit, these well-structured records and reports help companies remain compliant with local, state, and federal regulations and provide quick and easy access to internal records whenever they’re needed.

More profitable decisions:

SAP BPC offers advanced capabilities that allow users to more accurately and efficiently process real-time data and outline more accurate projections for future financial budgeting and risk purposes.

With the SAP Business Planning and Consolidation platform, companies can not only allocate their resources more efficiently but also use more comprehensive data to make more informed and profitable decisions.

Partnering with Experts

Interested in learning how SAP’s Business Planning and Consolidation platform can improve the functionality and efficiency of your management team? Want to know more about how our team of consultants can help improve the reporting and analysis of important data, process cash flow statements and other records more accurately, and meet external financial reporting requirements? Surety Systems is here to help!

With extensive experience in virtually every SAP module and application and skillsets that have been built upon for years, our team of senior-level SAP consultants has what it takes to lead your team to success… the first time . Regardless of your organization’s size, location, industry, or complexity, we have the right consultant to meet all of your project needs.

How Can We Help?

Whether you need help deciding between SAP BPC versions, additional support understanding the built-in reporting and analysis features in the BPC platform, an extra hand leveraging BPC functionality to optimize business operations, or anything in between, our team is here to help.

And, to give you a better idea of what to expect when partnering with us, we’ve included a snapshot of one of our top-notch SAP consultants:

Surety Senior SAP BPC Consultant

• 20+ years of SAP BPC experience
• Excels as an SAP Solution Architect and hands-on Developer
• Well-versed using S/4HANA, SAP BPC, SAC, and Group Reporting
• SAP Certified Application Associate – SAP BusinessObjects Planning and Consolidation 10/11
• Delivered multiple Full Life Cycle SAP/BPC Implementations
• Prior experience working directly at SAP America

Contact us today to learn more about our SAP support services, or get started with one of our expert BPC SAP consultants.

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What is SAP BPC?

SAP Business Planning and Consolidation (BPC) is SAP’s flagship product for planning, budgeting, forecasting, and both legal and management consolidations.  SAP BPC provides a highly scalable, robust database combined with business process and logic capabilities to provide a true Enterprise Performance Management (EPM) platform. SAP BPC is a unified solution that does not require individual software components to perform a core set of business functions and tasks. 

Let’s begin to understand BPC’s capabilities with an overview of the five core EPM business processes it is most commonly used to address. 

Core Capabilities

• Planning Planning is typically defined as long-range planning spanning multiple years, that can be entered in any combination of periodicity (week, month, quarter year).  Some companies use models with strategic or long-range planning that span years or decades into the future. These plans are usually at a higher level than the budget or forecast.  The planning cycle also combines a variety of financial and non-financial information to form a complete view.  BPC provides a platform to integrate business planning, connecting strategy, operations and financial processes. 
• Budgeting A budget cycle is a full outlook for the upcoming year based on your business calendar.  Some budgets start out with predefined assumptions or targets (top-down), while others begin with a set of detailed inputs from various participants across the organization (bottom-up). It is quite common for organizations to develop a budget with a combination of both top-down and bottom-up assumptions, with multiple versions being developed during an iterative and collaborative process. 
• Forecasting Many companies have abandoned the traditional 12-month budget in favor of a rolling forecast, which looks at the remaining months of the year and a full 12-18 months (or more) into the future.  BPC easily combines the actual periods with forecast periods into one category or version. This facilitates more efficient reporting and analysis.  For example, the May forecast version (category) would have four periods of actual data (January – April), and at least eight periods of forecast data.  This also allows users to easily compare the current forecast to previous forecast periods. 
• Consolidations BPC has built-in financial intelligence including robust legal and management consolidation capabilities.  These capabilities include the ability to import data from various data sources.  SAP BPC customers can enjoy a variety of integration options, including real-time consolidations with SAP’s flagship ERP solution, S/4HANA.  BPC also fully supports non-SAP ERP systems.  Many BPC users have multiple ERPs – one of our customers had so many acquisitions they consolidate over 90 different GLs with different COAs. Additional consolidation features include currency translation, intercompany eliminations, allocations, partial ownership, equity pick-up, journals, and reporting and analysis. Reporting and analysis features include P&L, Balance Sheet, Cash Flow statements to accommodate internal and external financial reporting requirements.
• Legal and Management Reporting & Analysis for both Operations and Finance BPC enables a wide variety of reporting and analysis formats including what-if scenarios with real-time modeling, by leveraging Excel to dynamically read data and write back to the database.  Users can easily develop both ad-hoc and production reports, including financial statements, in their required format.  BPC includes a book publication wizard within the Excel interface that dynamically generates any combination of cost centers, profit centers, product lines, etc. and product books into a distributable PDF document.  An optional Disclosure Management  solution is available from SAP to help automate filing with various regulatory agencies, including SEC.

SAP BPC Versions Read Less

BPC currently supports several database platforms, but SAP will eventually phase into ongoing support of two main platforms, described below.

Version 1, BPC Microsoft 10.1 is the latest version that is available on the Microsoft technology stack, and leverages the latest versions of Microsoft SQL Server and Analysis Services. 

Version 2, BPC 11, version for BW/4HANA , is the most recent version of BPC, and leverages SAP’s HANA in memory database as the engine.  BW/4HANA was released in Q4 of 2016 and is the next-generation version of SAP’s Data Warehouse software.  Much like SAP’s introduction of S/4HANA as the successor to ECC, BW/4HANA is not just an upgrade from BW, but an entirely new platform fundamentally changing the way SAP approaches EPM.  BPC 11 allows cloud deployment across a variety of platforms including Amazon Web Services (AWS), Microsoft Azure, Google Cloud and SAP’s HANA Enterprise Cloud (HEC). Column5 has developed flexible options allowing customers to deploy BPC as a cloud service across those same platforms, with added private and public infrastructure service options. 

Both versions of BPC use the same Excel Add-in (Analysis Plug-in and EPM Plug-in), but may exhibit additional functionality and features when enabled in Excel, depending on your backend database.

BPC supports two model types -  Standard and Embedded .  For a more detailed comparison of BPC Standard vs. Embedded please visit " SAP BPC NW 10.1 Standard and Embedded Compared ".

The Standard model is a BPC model structure (or cube) with a single account dimension. The Embedded model structure supports multiple ‘key figures’ and shares more of the SAP ERP structures, reducing replication of both data and master data (dimensions).  BPC Microsoft 10.1 supports the Standard configuration.  BPC 11, version for BW/4HANA supports both the Standard and Embedded configuration, and can be customized to run the two side-by-side. Customers who are using S/4HANA also have the option to leverage pre-built content, known as “BPC Optimized for S/4HANA”. Column5 can help you determine which model configuration (Standard, Embedded or both) meets your existing and ongoing business requirements.

SAP Analytics Cloud provides cutting-edge visualization capabilities along with advanced analytics, combining business intelligence, planning and predictive analytics.  To better understand the benefits of SAP Analytics Cloud with BPC please see our blog entitled “ Using SAP Analytics Cloud as a Client to BPC .” 

History of SAP BPC Read Less

In 2007, SAP acquired the foundation of today’s BPC solution from OutlookSoft, a software company founded in 1999 by two of Hyperion Software’s key executives. A couple of years earlier, Arbor Software (original developer of the Essbase multidimensional OLAP engine) merged with Hyperion Software and decided to move forward with the Essbase database as the platform for future software development.  This helped ignite the vision for the founders of OutlookSoft: They wanted to build a next generation Enterprise Performance Management (EPM) solution on a robust, open and multi-dimensional platform, leveraging Microsoft Excel as the database’s primary interface. 

Taking advantage of a unique opportunity to develop the solution on the Microsoft technology stack, OutlookSoft leveraged both Microsoft SQL Server and Microsoft Analysis Services, providing the most complete integration with Microsoft Office.  Hyperion was eventually acquired by Oracle and OutlookSoft was acquired by SAP.

BPC was originally designed to leverage Microsoft Excel with planning, budgeting and consolidation capabilities, along with patented technology to interface with the Microsoft technology stack. Not even Microsoft could create a more efficient interface.

SAP BPC Today Read Less

BPC also includes Business Process Flows (BPFs) that can be used as a formal workflow for both financial and operational processes, or as a menu to organize various assets including input forms, reports, books and dashboards.

BPC attracts users with its innovative user experience, including native Excel integration. BPC’s founders at OutlookSoft understood that Excel was crucial for finance users to accomplish their daily tasks.  Copying and pasting information into a proprietary tool or using a web interface cannot match the flexibility, power, variety, and convenience of Excel.  They successfully turned Excel into a “window to the database” and they removed many of the traditional pain points previously associated with Excel.

Today, the Excel Add-in for BPC is called Analysis Office. Analysis Office (AO) is comprised of two “Plug-ins”, the Analysis Plug-in and the EPM Plug-in.  Additional information along with recommended use cases from SAP can be found in the   .  In summary, SAP recommends the following:

• For any BPC Standard model, SAP recommends using the EPM Plug-in.
• For the BPC Embedded model, SAP recommends using the Analysis Plug-in due to its superior integration into BW metadata. The EPM Plug-in has some architectural limitations and will not receive any functional enhancements on the Embedded model.
• Both EPM and Analysis Plug-ins will be maintained and developed as part of the Analysis Office release based on these recommendations.

SAP has invested heavily into improving BPC since the OutlookSoft acquisition.  Today, BPC’s Excel interface is truly exceptional – we think it’s the best on the market.  Please contact us to experience the latest version of BPC through an informative demonstration and personalized conversation.

In addition to the built-in financial intelligence capabilities, BPC is also a robust analytic application development platform.  BPC can solve a variety of business needs that fall outside the core five standard business processes.  Rather than making sacrifices and changes to your existing processes, BPC can be configured to meet your specific requirements; it is not limited by a software platform. This flexibility is key as businesses evolve and you make processes improve.  The BPC platform allows customers to be nimble and dynamic in their design and to expand their use of the solution as business grows or changes.

SAP BPC Customer Profile Read Less

There are over 6,000 BPC customers worldwide.  While they all share the core common set of capabilities, due to the flexible nature of the platform, each customer has a unique BPC implementation.  They can configure the solution with their “secret sauce” and other best practices to give them a competitive edge in their industry.  Customers range from small and medium-sized businesses to top ten members of the Fortune 500.

SAP BPC Demo Read Less

We invite you to take advantage of a free demonstration and workshop from Column5 that can show how your organization can benefit from SAP BPC or SAP Analytics Cloud.

Helpful Links:

Death of the Budget - Long live the Rolling Forecast

What Should an SAP BPC Implementation Team Look Like?

5 Overlooked Features of BPC

Y ou Might Be in Excel Hell If...

Replace a Working Spreadsheet Based Forecasting Model with SAP BPC?

3 Reasons You Will Be Happy w /  BPC

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7 Deadly Sins of a BPC Implementation

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SAP BPC Business Planning and Consolidation

What is business planning and consolidation (sap bpc).

SAP BPC is one of the important tools of SAP systems and it stands for Business Planning and Consolidation also known as Outlook Soft.

SAP BPC is a high-performance management tool that enables all types of planning,  future forecasting, and consolidation. At the same time SAP allows for an easy integration and consolidation at all levels. Besides that, with SAP BPC it’s quite easy to make use of reporting tools.

Why SAP BPC is so important?

Chief Financial Officers of all companies are always under great pressure to produce maximum profits and increase the profitability of all processes. They are also under pressure to minimize risk, reduce operational costs to as much as possible, and enhance the shareholder confidence in their companies. All of these tasks are easier for CFO by using SAP BPC , which is the leading technology product in the business. BPC helps your organization to integrate all your business processes and technologies onto just one single platform which supports both high-end as well as shoestring budgets, making your planning, forecasting, and reporting activities much easier.

Advantages of SAP BPC

1. With the help of Business Planning and Consolidation you can plan and monitor business activities in a more comprehensive manner and helps better decision making.

2. Most importantly, SAP Business Planning and Consolidation gives you the space and freedom to use your most skilled employees to work at more high-value or high-end work than spend all their time at mundane and boring work that could be easily done by anybody who is less capable.

3. It makes it possible for you to improve your cross-organization collaboration and increases your organization’s responsiveness to a much more dynamic business environment.

4. More than anything else, SAP Business Planning and Consolidation allows you to reduce the cost of your training and minimize your IT resources significantly. Further SAP has a very user-friendly interface that integrates perfectly with Microsoft Office and Internet Explorer,  even when it is implemented on a Microsoft or on an SAP NetWeaver platform.

5. SAP BPC works on the back end by enhancing the business transparency and speeds up filing financials by using the highly sophisticated Extensible Business Reporting Language (XBRL) extension, and allows for a  statutory consolidation in combination with GAAP, IAS, IFRS, FASB, or Sarbanes-Oxley.

Important features of SAP BPC

• SAP BPC is Multi-Dimensional

The multidimensional nature of SAP BPC makes it possible for business organizations to “slice and dice” the data and the information in accordance to their needs.

• SAP BPC is Dynamic

 SAP BPC makes use of the OLAP technology, which makes the data available right at the time of entry. There is no need for aggregate data.

• Allows for Workflow Management

SAP systems makes it possible for a business to track and closely monitor its progress through a sophisticated budgeting and forecasting process

• BPC integrates and unifies all processes

Other planning and consolidation software products use different modules  for consolidation and future forecasting. But SAP BPC unifies and integrates both modules within a single software process.

• SAP BPC is integrated with Microsoft Office

Business Planning and Consolidation is perfectly integrated with Microsoft Excel and has the ability to report directly using Microsoft Word as well as PowerPoint documents.

• BPC comes with a special Zero footprint Option

SAP BPC can access data and share reports without install the client add-ins. Indeed, you don’t even have to install Microsoft Office for BPC, and it produces reports in Microsoft Word, Excel or PowerPoint software.

• You can store comments with SAP BPC

It makes it possible for a user to store commentary at any data point while working on an application.

SAP BPC versions

SAP BPC provides a multi-user platform and is integrated with Microsoft Excel.  The earlier versions of SAP Business Planning and Consolidation (BPC) leveraged the Microsoft SQL Server and Analysis Services. But the latest version of BPC only uses SAP Netweaver as its only back-end database. While both versions of SAP BPC are very similar in concept, in functionality they differ considerably.

Financial Planning, Consolidation and Analysis for fast growing organisation >>

SAP Business Planning & Consolidation (BPC)

A flexible, robust and proven solution for planning and consolidation

What is SAP Business Planning & Consolidation (BPC)

SAP Business Planning and Consolidation (SAP BPC) , as globally embraced , robust and reliable CPM tool, delivers planning, budgeting, forecasting, and financial consolidation capabilities . Companies using SAP BPC can easily create and adjust plans and forecasts, speed up budget and closing cycles and ensure compliance with financial reporting standards .

This proven solution for planning and consolidation provides many benefits to rapidly changing organizations , among which efficiency gains , streamlined planning and accurate ‘closing’ processes .

SAP Business Planning and Consolidation (SAP BPC) enables organizations to better strategize and plan, analyze , optimize , close and disclose results, to increase revenue and profitability.

SAP BPC has different versions. If you want to know more about the differences between these versions and which version of SAP BPC is suitable for your organization contact us or select one of the links below:

• The different versions of SAP BPC>>
• How to choose among different versions of SAP BPC>>

We, at cpm view , help global enterprises of different sizes with their requirements around consolidation and reporting . We work with modern and leading consolidation and reporting s olutions that meet legal and managerial requirements.

Key Benefits of SAP BPC

Leverage usability

SAP BPC is a single deployment solution for planning, budgeting, forecasting and management consolidations and reporting , as well as statutory consolidations.

A comprehensive consolidation engine is included in SAP BPC. The legal and management consolidation processes can be automated, establishing efficiency gains and eliminating error-prone reporting steps. The possibility for multi-GAAP reporting is standard available.

Leverage visualization

W hat-if modeling and scenario planning assess B udget suitability in real – time . Forecast models can quickly be updated and easily be compared with Budgets and Actuals.

SAP BPC integrates financial and operational planning , both top-down and bottom-up , enabling accurate decision-making and reducing throughput time in the reporting processes . The automated update of Actual data e nables continuous planning and rolling forecasts to meet rapidly changing business conditions .

Increase Productivity

SAP BPC uses an add-in on Microsoft Office that enables users to open reports from Word, PowerPoint and Excel.

Workflow and reports can also be opened from any device with a n intuitive HTML web interface. The tool combines the strong features of Microsoft Office with robust process features, automated business rules and workflows of SAP BPC in a single data source .

Intelligent Action Panes

An offline mode is available to share input templates and reports with users without a software license.

Input schedules can be returned and provided data records can be s aved into the database by one click.

Leverage Big Data

Powerful data tracking capabilities are offered in SAP BPC. SAP BPC can cope with large data volumes.

Data is stored in a single database and data security settings can easily be applied per user or per group of users . Data models in SAP BPC translate raw data into valuable information.

On-premise or Cloud deployment

SAP BPC is available for both, Cloud and On-premise deployment.

SAP BPC has different versions. What are the differences between these versions and which version of SAP BPC is suitable for your organization?

Related articles

Sap bpc versions – update and advice 2019, sap bpc: how to choose among different versions, sap bpc 11.1 for bw4/hana 2.0 – more power under the hood, why is cpmview a specialist in sap business planning & consolidation.

Cpmview is recognized by SAP as ‘Expertise Partner’ for SAP Business Planning & Consolidation (SAP BPC) implementations. We are specialized in Corporate Performance Management.

We develop best of breed solutions, incorporating our great scale of best practices that we composed over the past decades. Our solutions can easily be adopted by any company using SAP BPC.

W e have built an extensive track record with successful and global SAP BPC implementations . Y ou can benefit from our many years of experience in implementing SAP BPC. Our consultants implemented SAP BPC, formally OutlookSoft , as one of the first consolidation and planning solutions in the Netherlands , back in 2003.

Summary of SAP BPC benefits

SAP Business Planning and Consolidation is a robust and reliable solution that meets all your requirements in the area of budgeting, planning, consolidation and reporting.

From a single application, SAP BPC supports your financial and operational planning, but also your consolidation process. Both top-down and bottom-up. This means that you are assured of smooth and punctual financial closings. The result is that you always comply with the increasingly strict regulations and global reporting requirements. Our expertise and proven methodology help you utilise the full potential for consolidation, planning and budgeting, reporting and analysis.

Do you want full control over your financial processes, now and in the future? SAP BPC can help you to achieve this, because it gives you control over:

• Financial reporting and analysis
• Consolidation
• Business planning & budgeting
• Forecasting
• Audit trails and workflows

SAP BPC – What is Business Planning and Consolidation? : All you need to know [ OverView ]

Last updated on 05th Nov 2022, Artciles, Blog

• In this article you will get

Preface to SAP Business Planning and connection

Sap bpc overview, what’s epm in sap, sap bpc architecture, core capabilities.

SAP BPC is a SAP module that provides planning, budgeting, soothsaying and fiscal connection capabilities. SAP BPC stands for Business Planning and connection. It provides a single view of fiscal and functional data and an intertwined result that supports performance operation processes similar as conforming plans and vaticinations or accelerating budgeting and ending cycles.

It provides erected-in functionality for:

• Strategic plan

SAP BPC Finance has two platforms. It’s nearly 80% the same functionality except for the difference in the reverse- end. Each platform has two performances.

SAP BPC MS( Microsoft Platform) – SAP BPC7.5 MS and SAP EPM 10.

SAP BPC NW( NetWeaver Platform) – SAP BPC7.5 NW and SAP BPC 10 NW.

Like any other module, the SAP BPC module also contains master and sale data. BPC in SAP is divided into two factors called “ Administration ” and “ Reporting ”.

Fiscal planning, budgeting and soothsaying are important rates for any organization to run a business successfully. Integrated – planning and connection into one product. Single operation reduces conservation, increases data integrity, and simplifies deployment. It also enables flexible planning and connection functions.

Strategic plan:

It helps the operation platoon to formulate its vision, charge, core values and objects. The platoon develops strategic plans to maintain its competitive advantage in the business.

It isn’t simply a vaccination of unborn issues. It’s also a plan of the organization’s conduct and anticipated operations in the coming time. The budget is prepared for active operation and dimension of commercial performance.

This ensures that performance progress is covered, problems are anticipated, and nonstop enhancement sweats are promoted.

It’s the act of prognosticating the results. This is done to show the changes in the internal and external terrain throughout the time. What determines how the internal or external terrain affects the original plans and budget? The main ideal is to give lower threat operation planning and more accurate information for decision timber.

The use of EPM results is getting wider in the fiscal divisions. It’s analogous to CPM( Corporate Performance Management), BPM( Business Performance operation) and FPM( Finance Performance Management). EPM is being used as a unique depository for managing applicable information.

Business needs benefits and features:

• Process Control Business Process Flow( BPF) ways for environment- Driven Workflow and Process effectiveness.
• Centralized data and operation operation.
• Status monitoring and workflow operation.
• Part- grounded security and stoner authentication.
• Dimensional inspection trail for budget, cast and factual.
• Interpretation control supports any number of performances.
• Data lockdown as per dimension or specified period.
• Compliance and auditability inspection follows the history of the entire planning, reporting and vaticinating.
• “ A Single interpretation of the verity ” at reported figures.
• Data- grounded translucency – and data change – visibility.
• Ensures responsibility as belief in figures increases power responsibility.

SAP BPC Architecture. It uses colorful business rules and script sense for planning.

BPC Administration:

BPC Administration allows directors to perform conservation and setup tasks for BPC customer operations.BPC fiscal administration has two interfaces; A customer operation and a web interface. The Administration conduct pane lists the conduct available for both interfaces.

To start BPC administration:

Any of the following will work.

• Open a cybersurfer and type http:// / osoft, where is the name of your BPC garçon.
• From the Windows Start menu, choose SAP> BPC
• From your Windows desktop, click on the BPC icon
• From the Launch runner, elect BPC Administration
• From the Administration conduct pane, elect the task you want

The press customer is a Microsoft Explorer- suchlike window. Where we manage particulars similar as operation sets, operations, business rules, confines and business process flows. The cybersurfer allows customer operations to set and control operation parcels, as well as to maintain BPC web parameters.

Creating a new dimension:

Confines represent the realities of a business( eg, accounts, company canons, and orders). They represent master, textbook, and scale data for each business reality.It’s possible to produce new confines in a BPC operation set. There’s no restriction to produce multiple confines in SAP BPC. These confines also come with participating confines that are available for use in any operation within the app set.Some confines are needed. It must be present in all operations within the operation set. Whereas the dimension type determines the dereliction parcels to be included in the dimension. It’s possible to add fresh parcels as demanded.

BPC Reporting:

With BPC for Office, we’ve all the functionality of Microsoft that we’re used to. BPC for Office allows to collect data, induce reports, perform real time analysis and publish reports in colorful formats.You can take reports fully offline and distribute them grounded on stoner access rights.

BPC Security:

Druggies This is used to add druggies to the terrain and manage their access rights.Brigades You can define a group of druggies with the same access rights.Data Access Profile It enables setting up biographies for the tasks to be performed.Task Profile This is used to set up biographies and enable access to data in models.

SAP BPC client Profile:

There are over,000 BPC guests around the world. While they all partake in an introductory common set of capabilities, due to the flexible nature of the platform, each client has a unique BPC perpetration. They can configure results with their “ secret sauce ” and other stylish practices to give them a competitive edge in their assiduity. guests range from small and medium- sized businesses to the top ten members of the Fortune 500.

SAP bpc moment:

BPC also includes Business Process Flow( BPF) which can be used as a formal workflow for both fiscal and functional processes, or as a menu to organize colorful means including input forms, reports, books and dashboards. can be used as

BPC attracts druggies with its innovative stoner experience including native Excel integration. The authors of BPC at Outlook Soft understood that Excel was important for fiscal druggies to carry out their diurnal tasks. Copying and pasting information into a personal tool or using a web interface can not match the inflexibility, power, variety, and convenience of Excel. They successfully turned Excel into a “ window for databases ” and they removed numerous of the traditional pain points associated with Excel.

Planning is generally defined as a long- range plan gauging several times, which can be entered into any combination of periodicity( weeks, months, quarter times). Some companies use models with strategic or long- range planning that run times or indeed decades into the future. These plans are generally at a advanced position than calculated or read. The planning cycle also combines colorful types of fiscal and non-financial information to form a complete view. BPC provides a platform to integrate business planning, strategy, operations and fiscal processes.

A budget cycle is a complete outlook for the forthcoming time grounded on your business timetable. Some budgets begin with predefined hypotheticals or pretensions( top- down), while others begin with a set of detailed inputs from colorful actors in the organization( bottom- up). It’s relatively common for organizations to develop a budget that contains a combination of both top-down and nethermost-up hypotheticals, with multiple performances being developed during an iterative and cooperative process.

numerous companies have abandoned the traditional 12- month budget in favor of a rolling cast, which looks at the remaining months of the time and a full 12- 18 months( or further) into the future. BPC simply combines factual ages with cast ages into an order or interpretation. It facilitates more effective reporting and analysis. For illustration, the May cast interpretation( order) will have four ages( January – April) of factual data, and at least eight ages of cast data. It allows druggies to fluently compare the current cast with the former cast ages.

BPC has erected- in fiscal intelligence, including strong legal and operation connection capabilities. These capabilities include the capability to import data from colorful data sources. SAP BPC guests can enjoy a variety of integration options including real- time integration with SAP’s leading ERP result, S/ 4HANA. BPC also completely supports non-SAP ERP systems.

Numerous BPC druggies have multiple ERPs – One of our guests had so numerous accessions that they consolidated over 90 different GLs with different COA’s. fresh connection features include currency restatement, intercompany elimination, allocation, fractional power, equity pick- up, journal, and reporting and analysis. Reporting and analysis features include P&L, balance distance, cash inflow statement to accommodate internal and external fiscal reporting requirements.

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SAP Business Planning and Consolidation

What is sap business planning and consolidation .

Business planning and consolidation solution that offers financial forecasting, budgeting, scenario planning, consolidation and collaboration tools.

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SAP Business Planning and Consolidation Reviews

This product has an Excel interface so everyone was pretty comfortable using this application. When I needed to call support, they were fantastic and went above and beyond.

Ease of use by finance community with XL friendly add-on; multi dimensional cubes ease the reporting capabilities.

The application is extremely powerful in terms of data collection and consolidation leading to effective business planning.

Overall extremely pleased with the application. It was seamless in terms of installation and deployment.

It should be noted that the errors were due to settings that came by default.

Limited documentation on scripts. Training on scripts is very specialized and intensive.

Overall, I would say that functionality of this software is greatly limited by the slow performance. I am constantly getting errors that are complete gibberish and never get resolved.

The script logic language and the BADI programming is not simple and the documentation is limited. SAP does not provide training for SAP Script logic.

Most Helpful Reviews for SAP Business Planning and Consolidation

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What is SAP Embedded BPC (Business Planning and Consolidation)

SAP Embedded BPC (Business Planning and Consolidation) is a specific deployment option within the SAP BPC suite. Unlike the standard version of SAP BPC, which uses a separate application server, the Embedded version is embedded directly within the SAP BW (Business Warehouse) system. Here are some key points about SAP Embedded BPC:

• Integration with SAP BW: SAP Embedded BPC is tightly integrated with SAP BW, allowing for a seamless flow of data and metadata between the two systems. This integration enables organizations to leverage their existing SAP infrastructure.
• Unified Platform: It provides a unified platform for business planning, budgeting, forecasting, and financial consolidation, making it easier to manage financial processes.
• Real-Time Planning: With Embedded BPC, you can perform real-time planning and analysis using data stored in SAP BW, ensuring that your financial plans are based on the latest information.
• Simplified Data Models: Embedded BPC leverages SAP BW data models, simplifying the process of creating and maintaining planning models.
• Leveraging SAP HANA: Many organizations that use SAP Embedded BPC also take advantage of SAP HANA, an in-memory database platform, for enhanced performance and analytics.
• Customization: SAP Embedded BPC allows for more extensive customization and flexibility in designing planning and consolidation solutions to meet specific business requirements.
• Scalability: It is suitable for organizations of varying sizes, from small to large enterprises, and can scale to accommodate growing data and planning needs.

SAP Embedded BPC is a popular choice for organizations that are already using SAP BW and want to streamline their financial planning and consolidation processes by utilizing their existing SAP landscape. It offers a robust and integrated solution for financial management and reporting within the SAP ecosystem.

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• Earn Over 150,000 student loan borrowers   will soon have their debt forgiven
• Become Debt-Free Student debt relief due to financial   hardship could be on its way
• Become Debt-Free Some student loan borrowers will start   seeing their debt forgiven in February
• Become Debt-Free President Biden forgives student debt for   nearly 78,000 borrowers through PSLF
• Earn Americans making student loan payments have   up to 36% less saved for retirement

25 million student loan borrowers could see their balances shrink under Biden’s new forgiveness plan

President Joe Biden and his administration are moving forward with plans to provide student debt relief to as many people as possible.

The administration announced Monday the details of its new plan to reduce student debt balances for millions of borrowers. The proposed regulations — which were drafted as part of the months-long negotiated rulemaking process — feature several different ways for borrowers to see their debt balances reduced, if not eliminated entirely. 

The provisions of the plan include forgiving excessive interest that has accrued, discharging balances that have been in repayment for 20 years or more and relief for borrowers who attended now-closed or insolvent institutions.

"[The] plan is focused on the reasons that people are struggling with their student loan debt," James Kvaal, Under Secretary of Education, told CNBC Make It. 

"People who are upside down on their student loans because interest has racked up faster than they could pay it, people who have been making payments on their loans for decades and still owe those loans — it's a sign of how aggressive the President is [being] in tackling the student loan crisis," he said.

The relief provisions will soon be open for a public comment period where the administration will consider revisions to its proposal before it goes into effect. Some provisions are expected to roll out as early as this fall, the administration said.

As with Biden's previous student debt forgiveness proposals, it's possible this plan will come under legal scrutiny if challenged by opponents. But this plan differs from his previous action by using a different legal authority — the Higher Education Act — and narrowing the scope of borrowers eligible for relief.

In the event this plan is enacted and a future presidential administration wanted to repeal it, it would need to go through the same lengthy rulemaking process, Kvaal said.

Here's the relief borrowers may expect to see in the coming months.

Up to $20,000 of accrued interest forgiven

Interest accrues daily on student loans and some borrowers have interest rates as high as 8%. As a result, many borrowers wind up with balances higher than what they initially took out for school, despite making regular payments.

Biden's plan aims to address that "runaway interest" by canceling up to $20,000 of the amount a borrower's balance has grown due to unpaid interest after entering repayment. Single borrowers who earn $120,000 or less and married borrowers earning $240,000 or less who enroll in an income-driven repayment plan would be eligible to have their entire excess interest balances discharged, the administration said. 

Some 25 million borrowers stand to benefit from their interest balances being reduced if the plan goes into effect as proposed. An estimated 23 million of those borrowers will have their entire balance growth forgiven, according to the administration.

Automatic loan discharge for forgiveness-eligible borrowers

The Biden administration has canceled debt for over 1 million borrowers through existing forgiveness programs, including Public Service Loan Forgiveness , income-driven repayment and closed school loan discharges.

The administration estimates another 2 million borrowers are eligible to have their debt forgiven under these programs, but have not yet applied .

The new plan will allow the administration to use available data to identify and automatically clear balances for these borrowers as they are eligible, without borrower action.

Debt forgiveness for long-term borrowers

Another 2 million borrowers could benefit from a provision that will clear debt balances that are at least 20 years old for undergraduate borrowers and 25 years for graduate borrowers. It will apply to undergraduate borrowers with direct loans or direct consolidation loans who entered repayment on or before July 1, 2005, and graduate school borrowers who entered repayment on or before or July 1, 2000.

Currently, borrowers enrolled in the Saving on a Valuable Education plan or other income-driven repayment plans are eligible to have their remaining balances discharged after 20 or 25 years, but the new regulation would eliminate the IDR requirement.

Relief for attendees of 'low-financial-value' programs

The Biden administration has made a concerted effort to "hold colleges accountable when they leave students with mountains of debt and without good job prospects," it said in its statement. 

As such, the new plan would waive loans for borrowers who attended institutions or programs the administration identifies as "low-financial-value."

That includes schools that have lost eligibility to receive federal student aid or were denied recertification due to cheating or taking advantage of students, as well as programs that have since closed or have a history of leaving students with high debt loads and poor earnings outcomes.

Help for borrowers facing financial hardship

The administration says it is committed to pursuing a "specific action" for student loan borrowers experiencing a variety of financial hardships , although it's not yet clear who may receive relief and to what degree their balances will be reduced.

"This could include delivering automatic forgiveness to borrowers predicted to be likely to default on their loans, or through an individualized applications where borrowers could detail their financial hardship that is preventing them from being able to fully pay back their loan, such as a child care or medical expense," the administration said in its statement.

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Student-loan borrowers could benefit from Biden's new debt cancellation plan as early as this fall. Here's what you need to know.

• Biden unveiled details for a new student-debt relief plan that could benefit 30 million borrowers.
• The new plan could go into effect as early as this fall.
• While there could be lawsuits, the White House said it's confident in the legality of the plan.

A new student-loan forgiveness plan is coming — and millions of borrowers could benefit.

President Joe Biden's administration unveiled new details for a student-debt relief proposal that could benefit over 30 million borrowers. While this plan is more narrow than Biden's first attempt for broad relief that the Supreme Court struck down , it would aim to tackle a range of issues borrowers face, including interest capitalization and decadeslong repayment without relief .

Biden formally announced the new plan during a speech in Madison, Wisconsin, on Monday, saying that even when borrowers "have worked hard and paid their student loans, their debt increases, not diminishes."

"Too many people feel the strain and stress, wondering if they're going to get married, have their first child, start a family, because even if they get by, they still have this crushing, crushing debt," Biden said.

While more details on the plan will be announced in the coming months, Monday's announcement offers a fresh look into the types of borrowers that could benefit from this debt relief. Here are the key details from the administration's proposal.

Which borrowers will qualify for this relief?

The administration outlined five groups of borrowers that could benefit from this relief. They include:

Up to $20,000 in debt relief for over 25 million borrowers whose balances have grown due to unpaid interest. 23 million of those borrowers would have "all of their balance growth forgiven," per the White House.

Relief for borrowers eligible for loan forgiveness under repayment programs like Public Service Loan Forgiveness or an income-driven repayment plan but who have not yet enrolled

Relief for borrowers who entered repayment over 20 years ago. Borrowers with undergraduate student debt would qualify if they entered repayment on or before July 1, 2005, and borrowers with graduate debt would qualify if they first entered repayment on or before July 1, 2000.

Relief for borrowers with who took on debt for "low-financial-value programs," including schools that lost financial aid eligibility or were found to have defrauded students.

Relief for borrowers experiencing financial hardship . A senior administration official told Business Insider that more details on hardship requirements will be released in the coming months, but it's likely to address those who are at high risk of defaulting, along with borrowers who have other financial burdens on top of their student debt.

What is the timeline for this relief?

The administration said it expects to begin implementing this relief in the fall. In the coming months, it will publish the proposed text for the new rules to the Federal Register, after with the public will have an opportunity to submit comments on the proposals.

Is this relief legal?

This new plan results from the Supreme Court striking down Biden's first attempt at broad debt cancellation at the end of June. While the first plan used the HEROES Act of 2003, which allows the education secretary to waive or modify student-loan balances in connection with a national emergency like the COVID-19 pandemic, this new plan uses the Higher Education Act of 1965, which doesn't require an emergency but does require a lengthy regulatory process.

Senior administration officials told reporters during a Sunday press call that they believe this new plan for relief is consistent with the Supreme Court's decision, noting that the new plan differs significantly from the one the high court struck down.

Of course, the plan's legality is ultimately up to the courts, and it's likely conservative groups will launch legal challenges against the plan in the coming months. There are already ongoing challenges to some of Biden's other targeted debt relief efforts — for example, a group of GOP state attorneys general recently sued the administration over its new SAVE income-driven repayment plan, arguing that loan forgiveness through the plan is unconstitutional.

If you enjoyed this story, be sure to follow Business Insider on Microsoft Start.

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Best business chequing accounts

Your guide to the best business bank accounts in canada..

In this guide

Best business chequing accounts in Canada

Best overall business chequing account: loop, best mobile banking business chequing account: rbc digital choice business account, best multi-currency business account in canada: wise business account, best business chequing account for start-ups: rbc flex choice business account, best fx rates for a business bank account in canada: vault business account, best free business chequing account: bmo ebusiness plan, best basic business chequing account: td basic business plan, best premium business chequing account: cibc unlimited business operating account, best low-volume business chequing account: bmo business builder 1 chequing account, best high-volume business chequing account: rbc ultimate business account, what is a business chequing account, what are the benefits of a business chequing account, how to choose the best business chequing account, how to open a business chequing account, faqs about business chequing accounts.

Getting started

A business chequing account is a vital tool to help you run your business. It lets you manage all your everyday business banking needs, from paying bills to depositing cash and cheques, and makes it easy to keep track of your business spending.

But which is the best account for your business? To help you decide, we’ve put together this guide to the best business chequing accounts in Canada, with options to suit businesses of all shapes and sizes.

• Best FX rates for a business bank account in Canada: Vault
• Best low-volume business chequing account: BMO Business Builder 1

Methodology: How we selected the best business chequing accounts in Canada

To determine this best list, Finder Canada analyzed 16 business chequing accounts across 13 financial institutions. We compared accounts from traditional banks, digital banks, fintechs and credit unions. We narrowed down the list of accounts to the top 10 by only listing accounts that are available in all Canadian provinces.

We ranked accounts based on 18 data points within five major categories. Here’s how we ranked and weighted each product:

• Fees: 40% (Monthly fee, ability to waive monthly fee (if necessary), transaction fees, wire transfer fees, NSF fees, overdraft fees)
• Perks: 20% (Number of currencies you can bank in, interest rates, signup bonuses, other tailored rewards)
• Banking Access: 15% (In-branch banking, online banking access, ATM network access, national availability)
• Customer Experience: 15% (Live chat availability, mobile app ratings)
• Minimum Requirements: 10% (Minimum deposit requirements, minimum balance requirements)

No single business chequing account will be the best choice for everyone, so thoroughly compare your options before picking your new account.

Loop Global Business Banking Account

• Pros + Cons

Why it's one of the best

• $0 account fee. This account charges no monthly account fee.
• Multi-currency accounts. Easily open CA, US, UK and EU domiciled accounts to skip conversion fees, get paid faster and make free global payments.
• No FX credit cards. Eliminate FX fees with a Loop credit card. Spend in CAD, USD, GBP and EUR and earn points to use toward travel and experiences. Access up to a $1 million credit limit.
• Earn reward points for your business spending
• Hold and spend funds in multiple currencies
• Competitive foreign exchange rates
• Only one free plan available
• Read the fine print for details of other fees
• No Apple Pay or Google Pay

RBC Digital Choice Business Account

• Transactions. Enjoy unlimited electronic debit and credit transactions.
• Unlimited cheque deposits. Unlimited Moneris and electronic cheque deposits.
• Soft credit check only. When you apply for an account, RBC will only conduct a soft credit check, which means your credit score won't be impacted when applying.
• Unlimited electronic debit and credit transactions
• Unlimited Moneris and electronic cheque deposits
• Easy to use app
• Can only spend and receive in CAD
• Comes with a monthly fee
• Fees for cash deposits and paper deposits

Wise Business

• 70+ countries. Pay staff and suppliers in over 70 countries around the world.
• 40 currencies. hold funds in 40 different currencies, including CAD, USD, GBP and EUR.
• Competitive exchange rates. Get the mid-market exchange rate when you send money overseas.
• Get the mid-market exchange rate
• Hold funds in nine currencies
• User-friendly platform
• Transfer fees apply
• Doesn't accept cash or cheque deposits

RBC Flex Choice Business Account

• Only pay for what you use. This flexible account is suited towards those looking to only pay for what they use.
• Bank online or in-branch. If you think you'd rather have some in-person assistance occasionally with banking, RBC is happy to help in-branch.
• Access other banking products. Access corporate and business credit cards, GICs, personal accounts and much more with RBC.
• Only pay for transactions you use
• Bank online or in-branch
• Get RBC Preferred Pricing
• Monthly fee of $7 charged
• You'll pay for each transaction and e-Transfer
• Not suitable for larger businesses making lots of paper transactions

Vault Business Banking Account

• Earn cashback when you spend. Earn 1% cashback on corporate spend when you spend on all corporate purchases with your Vault credit card.
• Save with a GIC. Open a GIC and earn up to 5.25% on your money.
• No monthly account fee. With the Vault business account your firm can accept payments in four currencies, send transfers in more than 30 currencies, all for no monthly fee.
• Easy online signup process
• Send funds in 30+ currencies
• Earn cash back on spending
• Not available for sole proprietors or partnerships
• Not available in Quebec
• Can't accept credit card payments

BMO eBusiness Plan

• No monthly account fee. You won't have to worry about paying a monthly account fee.
• Unlimited transactions. Enjoy unlimited Moneris and electronic transactions so you can save more every day.
• No minimum balance requirements. You can have as little or as much money in your account as you'd like without incurring any minimum balance fees.
• $0 monthly account fee
• No minimum balance requirements
• Unlimited Moneris and electronic transactions
• You'll need to pay for deposits
• Not suitable for businesses looking to take advantage of premium banking features

TD Basic Business Plan

• Suited toward low-income businesses. You only get 5 transactions per month and five deposits per month (excluding cash deposits).
• Easy deposits. Deposit through TD Mobile and in-branch.
• Complimentary free services. Enjoy free online statements with cheque images, archived for seven years.
• 5 transactions included per month
• 5 deposit items included each month
• Low monthly account fee
• Not suitable for businesses making lots of transactions and transfers

CIBC Unlimited Business Operating Account

• Enjoy unlimited transactions. Enjoy unlimited transactions and free e-Transfers.
• Get the account fee waived. This account comes with a monthly fee, however you can have it waived if you maintain a balance of at least $45,000.
• Comprehensive deposit allowances. Deposit up to $15,000 cash, $1,000 coin and 100 cheques each month at no extra cost.
• Apply online
• Unlimited transactions
• Low minimum balance requirement compared to unlimited accounts from other banks
• $45,000 minimum balance to avoid monthly fee
• Some accounts at other banks allow larger cash deposits

BMO Business Builder 1 Chequing Account

• Targeted toward limited banking needs. You'll only get 35 transactions per month, including two Interac e-Transfers and unlimited Moneris transactions.
• Low monthly account fee. This basic business account comes with a low monthly fee of $22.50.
• No minimum balance requirements. There are no minimum deposit limits which means you can have as little or as much in your account as you'd like.
• No minimum balance required
• 35 transactions per month, including two Interac e-Transfers and unlimited Moneris transactions
• Monthly account fee of $22.50
• Not suitable for businesses making large numbers of transactions

RBC Ultimate Business Account

• Catered toward businesses banking a lot. This account offers a wide variety of features that cater towards businesses that are constantly banking.
• Unlimited transactions. Enjoy unlimited electronic debit and credit transactions and 500 outgoing Interac e-Transfers per month.
• Large deposit limits. Unlimited electronic cheque and Moneris deposits are included too, plus up to $25,000 free cash deposits per month
• Large deposit limits
• Unlimited monthly electronic debit and credit transactions
• 500 outgoing Interac e-Transfers each month
• 100 paper transactions per month
• Higher monthly account fee than most business accounts

A business chequing account functions in the same way as a personal chequing account. The key difference is that the account is held in your business name and is used for all your day-to-day business banking.

Most business chequing accounts in Canada come with a monthly fee and support a certain number of transactions per month — the higher the fee, the more supported transactions. Your account will also come with a linked debit card for in-store purchases and ATM withdrawals, along with the ability to write cheques.

You can use your business bank account to:

• Send payments to employees and suppliers
• Accept payments from customers, including electronic, cash and cheque deposits
• Pay for purchases online and in-store
• Track your income and expenses for tax purposes

A chequing account provides a host of useful benefits for business owners. These include:

• Keep track of spending. A business chequing account makes it easy to monitor your business cash flow. You can monitor your income, track expenses and use budgeting tools to improve your bottom line.
• Keeps business and personal finances separate. While a business bank account isn’t a legal requirement for all businesses, it’s important to stop your business and personal transactions getting mixed up. This makes it a whole lot easier to stay on top of your business finances.
• Manage tax obligations. Business chequing accounts also simplify your bookkeeping requirements, making it much simpler to meet your tax and reporting obligations at the end of the financial year. You can also link your business account to accounting software to ensure that you don’t miss any expense deductions.
• Builds credit history. Opening a business bank account and using it to send and receive payments helps establish your business’ credit history. A better credit score will improve your chances of qualifying for business loans, lines of credit and credit cards in the future.
• CDIC protection. If you open an account with a financial institution that’s a member of the Canada Deposit Insurance Corporation, you’ll receive up to $100,000 worth of coverage in the unlikely event that your bank fails.
• Adds credibility. Opening a business bank account is also a simple way to boost the credibility of your business. No matter whether you’re dealing with customers, suppliers or staff, using a business chequing account to do so will help your business appear more professional.

The best business bank account for your business depends on your banking needs. Ask yourself a few key questions before you start searching for the right account:

• How many business transactions do I make per month?
• Can all of my business banking be done online?
• Will I regularly need to make cash or cheque deposits?
• How many people will have access to the account and do they each need their own debit card?

Once you’ve decided exactly what you need in an account, it’s time to start comparing your options. Make sure you consider the following factors when searching for the right account:

• Monthly fee. Most business chequing accounts in Canada charge a monthly fee. This could be around $5 to $10 on a basic account, or up to $100 or more on an unlimited-transaction account. Some banks will also waive the monthly fee if you keep your balance above a minimum level.
• Supported transactions. Check how many transactions are included in your monthly fee. Some offer unlimited transactions, but other accounts will place restrictions on the number of transactions you can make per month, including limits on cash deposits and in-branch transactions. Exceeding your account limit will lead to extra transaction fees.
• Other fees. Read the fine print for details of any other fees to watch out for, such as excess transaction fees, ATM withdrawal fees and in-branch transaction fees.
• Debit card(s). Your business chequing account will come with a linked debit card for easy access to your funds. Check whether you can issue additional cards for other team members that need access to the account and whether this will incur any fees.
• Branch and ATM network. Does the bank offer convenient branch access near you? Does it offer a large ATM network so you can enjoy fee-free ATM withdrawals?
• International payments. If you regularly need to send payments to suppliers or employees overseas, check what exchange rates and fees apply to international payments. You may want to consider a multi-currency business account that lets you receive, hold, send and spend funds in CAD as well as several other currencies.
• CDIC coverage. If your bank is a member of the Canadian Deposit Insurance Corporation, up to $100,000 of your business funds will be insured if the bank goes bust.
• Discounts and rewards. You might be able to access discounts on other products from the same bank, such as a waived annual fee on a business credit card. Some accounts also offer cash back on spending and other rewards.

Make sure you prepare all the necessary paperwork in advance to ensure a stress-free application process.

Required information

The documents you need to provide to open an account vary depending on the bank you choose and the structure of your business. As a general guide, in addition to proof of ID you’ll typically be required to provide the following:

• Sole proprietorship. You may be asked to provide your trade name registration certificate or a copy of your master business licence.
• Partnership. You’ll typically need to provide a registered declaration of partnership or partnership agreement and your trade name registration certificate.
• Corporation. You’ll typically need to provide articles of incorporation/association, your trade name registration, your latest business notice of assessment, the business’ latest financial statements and more.

Check with your bank for a list of required documents before you apply.

How to apply

Once you’ve found the best business chequing account for your needs, you can usually apply to open an account online. You’ll need to provide personal information for all account owners, your contact details, and your business name and Canada Revenue Agency registration number. You’ll also be asked to provide proof of ID along with your business registration documents.

Please note that not all financial institutions offer a completely online account-opening process. In some cases, you may need to visit a branch to verify your identity and activate your account.

What's the difference between a business chequing account and a business savings account?

A chequing account is designed to be used for your day-to-day business banking needs. It provides easy access to funds so you can do things like pay staff and suppliers, receive payments from customers and purchase inventory. What a chequing account doesn't do is pay interest on the funds in your account, but that's where a business savings account comes in. Savings accounts let you earn interest on unused business funds, providing a boost to your bottom line and ensuring that your money is put to work.

Can I get a business chequing account with unlimited transactions?

Yes. If your business needs to perform frequent transactions, most banks offer a business bank account that supports unlimited monthly transactions. However, these accounts typically come with a high monthly fee of $60 or more, but this fee may be waived if you keep your balance above a minimum level.

Can I get a business bank account with no monthly fee?

Yes. Most no-fee business accounts come from online providers such as Wise , Loop and Vault . Of the "Big Six" banks, BMO offers the eBusiness Plan, which supports unlimited electronic and Moneris transactions for no monthly fee. Check out our guide to free business bank accounts for more information.

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.

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Key Benefits

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Base decisions on what-if analyses and scenario planning for better outcomes.

Improve collaboration

Use collaboration tools to improve accountability and planning accuracy.

Increase efficiency

Shrink cycle times, close the books faster, and align your plans with strategic goals.

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Save time and reduce errors with a single, integrated software solution for business planning and consolidation.

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Engage stakeholders across finance and throughout the enterprise with Microsoft Excel, HTML5, and enhanced visualisation through SAP Analytics Cloud.

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Use what-if modelling and scenario planning to assess budget suitability in real time. You can also build forecast models and quickly update and adjust forecasts as needed.

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Automate aggregations, allocations, and other manual processes to speed up planning cycles, while running what-if scenarios to identify quick course corrections.

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Deliver a fast and accurate close by automating the consolidation process. You can meet all financial reporting requirements, including a complete audit trail.

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How Does Long COVID Affect Your Retirement Planning?

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Planning for retirement is at least partially about building a financial structure that will support you or your loved ones if something happens, including illness or disability.

And the potential for that “something” has risen in recent years: Almost 1 in 5 adults age 50 and over say they’ve had symptoms of long COVID, according to a 2023 survey from AARP. Common effects include fatigue, brain fog, difficulty breathing, anxiety, depression and gastrointestinal issues, and 39% have had symptoms for a year or more.

“So many people got infected with COVID, you have a much bigger number of people who are infected with a significant chronic disease,” says Carolyn McClanahan, a physician-turned-certified financial planner in Jacksonville, Florida.

At the heart of the matter, long COVID isn’t unique in the way it impacts your retirement strategy — but it does reinforce that a successful retirement plan must hold up to unexpected illness. Here are some tactics to make your plan more resilient.

Beef up your emergency fund

At any stage of life, it’s important to have cash on hand in case you need it. “Too many people sock money away in retirement plans where it can be harder to access if you have an issue,” McClanahan says.

Depending on your life circumstances, you may want to have as much as six to 12 months of savings set aside. Your savings can help you make ends meet if you get sick and can’t work, or if you’re waiting for disability benefits to kick in.

“Life happens, emergencies happen,” says Ashton Lawrence, a CFP in Greenville, South Carolina. Instead of having to tap a home equity line of credit or take on debt, he says, you’ll have this cash sitting on the sidelines for emergency situations.

Review your estate plan

A basic estate plan might include a will, advance directive and both medical and financial powers of attorney. This helps ensure that if you’re incapacitated or unable to speak for yourself, your health and your affairs will be handled the way you want them to be.

If you didn’t work with an estate planning attorney to create your plan, have one review your documents to make sure they were executed correctly. Requirements for powers of attorney vary from state to state, says Shari Fleming, an estate planning attorney in Owings Mills, Maryland.

Fleming also encourages her clients to write a letter of intent that puts their wishes down on paper, such as the goals behind their estate plan or how they’d like the end of their life to go. “It’s not a legal document, but it does fill in the blanks,” she says.

Buy great health insurance

Don’t skimp on health coverage — get the best plan you can afford. If you’re under 65 or still covered by an employer plan, make sure you have the money to cover the plan deductible if you need medical care. “If you have long COVID, you’re pretty much going to max out your deductible every year,” McClanahan says.

If you’re eligible for Medicare, McClanahan recommends Original Medicare with a Medigap policy for greatest flexibility. “With Medicare Advantage, you’re basically locked into your insurer’s network, and they’re the ones who get to ration your care,” she says. “If you have traditional Medicare, you don’t have that issue.”

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Hit retirement savings goals early.

“I have clients that maybe aren’t as prepared for retirement as they need to be, and they tell me, ‘I know I’m going to have to work until I’m 67 or 70,'” says Liz Windisch, a CFP in Denver. “What if you get sick? What if your partner or parent or sibling gets sick and you have to care for them and can’t work full time?”

Windisch encourages her clients to get more aggressive with savings goals , and if they can’t save more, to get a roommate or a part-time job to make it happen. “I hope you can work until you’re 67 … but we need to plan as if you might not be able to do that,” she says.

Simplify your money life

Because there’s always the possibility of incapacity as you get older, streamlining your finances makes it easier if someone has to step in to manage things. Consolidate accounts, keep a list of usernames and passwords, and keep a folder with at least one statement from each bill that you pay.

Noah Damsky, a financial adviser in Los Angeles, has a client who was very independent before she started experiencing long COVID symptoms. Since then, her family has had to get more involved in her life. “We’ve got to make sure other family members are playing a more active role in some of the things they didn't [do] before, like making sure some bills get paid, doctors are seen, things like that,” Damsky says.

Check your life and disability coverage

If you have disability insurance through your employer, consider paying for higher coverage, if you can — employer plans for long-term disability usually replace just 60% of your income. Consider, also, a life insurance policy with a disability rider, which is generally less expensive than buying a disability policy independently.

Gregory Corneille, a CFP in Lawrenceville, Georgia, recommends life insurance with critical and chronic illness riders for people who have little or no disability coverage. Critical illness riders cover things like cancer, heart disease and lung disease. Though carriers may not have updated their coverage definitions to include long COVID specifically, long COVID causes some of the issues on the list, Corneille says.

You can also buy a life insurance policy with a long-term care rider, so you can use the death benefit to pay for long-term care costs like a nursing home or a home care worker.

“We’re going to find a lot of people that have a lot more health problems than they used to,” Windisch says. “COVID affects people in ways we haven't even realized yet.”

This article was written with the support of a journalism fellowship from the Gerontological Society of America, the Journalists Network on Generations and the Silver Century Foundation.

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