Computerised Accounting in an ERP System

Running head: COMPUTERISED ACCOUNTING IN AN ERP SYSTEM
Computerised accounting in an ERP system
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1COMPUTERISED ACCOUNTING IN AN ERP SYSTEM
Table of Contents
Introduction................................................................................................................................2
 Historical overview of SAP S/4HANA Finance.................................................................2
 Difference between the SAP S/4 HANA Finance and SAP ERP FICO.............................5
 Benefits of the SAP S/4HANA finance for the purpose of business..................................7
 Case studies.........................................................................................................................9
Case study of Fujitsu..............................................................................................................9
Case study of Wipro.............................................................................................................10
Conclusion................................................................................................................................11
References................................................................................................................................12

2COMPUTERISED ACCOUNTING IN AN ERP SYSTEM
Introduction
While reimagining the finance for digital age with SAP S/4HANA Finance solution
that was formerly known as SAP Simple Finance, operates on in-memory platform of SAP
HANA. It supports the planning for accounting and finance, cash and treasury management,
accounts receivable and payable and risk management. It is further used for (i) on-premise or
cloud deployment (ii) easy and flexible consumable reporting (iii) common view for all the
operational and financial data and (iv) automated process (Baumgartl et al. 2016). The main
purpose of the report is to focus on the historical overview of the financial solution SAP
S/4HANA. It will highlight various features of the software started from its announcement
date to its advantages and limitations. The report will progress with highlighting the
difference among the SAP S/4HANA Finance and SAP ERP FICO in use at present. SAP
FICO is the cost controlling and finance module under SAP ERP where FI stands for the term
financial accounting and other part that is CO stands for controlling. This module is
significantly robust and it covers almost entire business process those are encountered in
different industries. It is considered as one of the most widely implemented and important
modules under SAP. In the next part the report will highlight the benefits of SAP S/4HANA
finance solution for the purpose of business. This part will cover various benefits those can be
gained by the businesses through using that software as compared to other financing
solutions. In the last part of the report various case studies will be presented for those entities
those have faced some issues while migrated to SAP S/4HANA Finance. Finally, based on
the discussion the report will provide the conclusion.
 Historical overview of SAP S/4HANA Finance
For last more than 40 years, SAP is working with large number of customers all over
the world world for helping them to become the best run business in their respective

3COMPUTERISED ACCOUNTING IN AN ERP SYSTEM
industries through solving the IT challenges and complex businesses. Success of the SAP’s
ERP solution is perfect instance for stating the way in which the best run businesses have
been enables over the last 4 decades. However, the economy continues evolving and it is
reshaped through top trends that includes hyper connectivity, supercomputing, cloud
computing, cyber security and smarter world including of artificial intelligence, robotics, 3D
printing and sensors (Discuss.asug.com 2018). Combination of these trends is driving the
entities for innovating the way in which they can simplify and operate the underlying systems
for competing and growing under digital economy. SAP identified the trends in early stage
and developed the framework for digital business in order to support the customers in making
way through the digital transformation. It started during 2011 for the 1st time while the SAP
launched the SAP HANA as next-generation in-memory platform that is designed as simpler
platform for the customers. It was launched for inventing and re-inventing the business based
on real-time insight. During 2013 January, SAP business suite was launched by SAP business
that was powered by the SAP HANA for assisting the entities in driving the business on real-
time basis. It simplified the way in which the business uses the SAP business suite through
bringing the analytics and transactions together into single in-memory platform (May, Böhm
and Lehner 2017). The reaction from market was remarkable as more than 2000 customers
attained in less than 2 years time that made it the fastest growing software. Moving ahead,
during 2014 June it turned the focus to particular customers and business line and were able
to drive the insight on real time basis. It further simplified the way in which the businesses
are carried out with the SAP system (Plattner and Leukert 2015). Finally during 2015
February it announced next generation business suite named as SAP business suite 4 HANA
that is known as SAP S/4HANA Finance. It was the new product entirely and the largest
improvement since SAP R/3. SAP S/4HANA is considered as complete business suite that