Computerized Accounting in ERP Systems

Computerized Accounting in ERP an Systems1
COMPUTERISED ACCOUNTING IN AN ERP SYSTEM
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Computerized Accounting in ERP an Systems2
TABLE OF CONTENTS
TABLE OF CONTENTS................................................................................................................2
Introduction......................................................................................................................................3
Benefits of SAP S/4HANA to Customers.......................................................................................4
The Difference Between SAP S/4HANA Finance and Current SAP ERP FICO...........................6
Companies` Migration to SAP S/4HANA and Challenges Encountered........................................8
The Commonwealth Bank Group................................................................................................8
Center Point Energy...................................................................................................................10
Challenges Faced by the Two Companies while Adopting the SAP S/4HANA.......................11
Conclusion.....................................................................................................................................12
References......................................................................................................................................14

Computerized Accounting in ERP an Systems3
Introduction
SAP S/4HANA which has been in existence since 2011 as SAP HANA has its inception
as an advanced version on February 2015 by the New York Stock Exchange. It is a broad group
of financial accounting and management remedies surrounding risk together with compliance
management, treasury, and economic threat control, collaborative finance endeavors, accounting
as well as financial close, covering financial analysis and planning all these are made possible by
the hyper-efficient SAP HANA database memory in the software. The rising demand for this
software in business has led to the extensive training for many beginners. By October 2015, over
1200 customers had purchased and implemented the software due to it flexibility to be
customized to fit the financial needs of the premise, and in 2016 April the number had risen to
5400. The remedies have phased away the traditional barriers that existed between, transactional,
planning and analytical systems in business because of its instant delivery of insights in financial
information. India which is the pioneer country and other countries abroad that have recognized
the software efficiency in financial management have endeavored to offer Certification of SAP
Simple Finance through training (Sebastian G., 2018,np.).
The software is very convenient in the whole portfolio of financial management, but the
adoption and recognition have been enhanced in some areas than others. For instance, the
Financial Planning and Analysis (FP&A) enables the customer to improve profitability,
transform functions and speed up the planning processes while the Accounting and Financial
Close enhances the control and compliance, the capability to accelerate the closing of books
hence minimizing the workloads in the method of accounting and financial close. Besides, the
prediction of cash flow and management of risk and management of liquidity associated with
treasury risk management has been earned by Treasury and Financial Risk Management which is

Computerized Accounting in ERP an Systems4
integrated with the SAP S/4HANA. The version of SAP has been relevant and considered the
most significant update of SAP ERP tactic and platform for at least two decades (Elahi, T., 2015,
np).
Benefits of SAP S/4HANA to Customers
The conceptual adoption and implementation have been beneficial to the users in many
ways and digitalized financial management making it not only convenient but also convenient.
First, it can combine analytics and transaction hence enabling analysis, simulation, reporting,
and prediction. The question related to finance is gathered and answered at the client`s disposal
anytime anywhere as long as the customer implemented the software in the premises. The
predictive, simulational and analytical nature of S4HANA data enables doctors in big hospitals
to manage by keeping track of diseases through clinical indicators. The extensive data in the
health center can be used to monitor results while prescribing the proper treatment. Such
techniques have been employed by big organizations like National Center for Tumor Diseases to
manage and counteract cancer diseases by identifying the patient`s particular molecular profile
and integrating with the research findings and hence prescribing the best treatment based on facts
( Vosough et al., 2016, np).
Furthermore, the analytical transactions, as well as high-volume processes (OLTP and
ALAP) respectively, is reduced and made easier by the SAP S/4HANA, unlike the traditional
model whose data was redundant and thereby the new model creates opportunities by increasing
enterprise `s volumes in the existing investment (Missbach et al., 2016,pp.8). The simplified
version of has significantly decreased the footprint on the solutions almost ten times compared to
the previous model, as shown by benchmark studies, and critical processes of the company have
enhanced as a result. In the case of companies dealing with consumable goods, the software is