Benefits of SAP S/4HANA Finance for Businesses

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Introduction
SAP S/4HANA simple finance is basically a modernized SAP type. It entails several features
like the general journal streamlined design as well as the instantaneous analytics. The
fundamental aim for the design of SAP S/4HANA is to jettison the traditional obstructions
including transactional, planning as well as for analytics systems whose fundamental aim is
to provide instant or immediate insights as well as on the go analyses by making use of all the
financial level of data. The application of SAP S/4HANA Simple Finance is therefore of
critical importance for the process of decision making within any business undertaking. The
decision makers are able to make use of this tool to model data and subsequently create
forecasts for vital data through the use of real-time analytics. The fundamental aim for
undertaking the design of SAP S/4HANA Simple Finance was to modify their business
applications and thereby taking maximum advantage in doing its HANA database. SAP
S/4HANA simple finance user base includes companies that range from the fortune 500
companies across the entire globe. The program's development and general framework has its
main focus on the financial experts as well as major professionals across all the industries
(McKenna, 2018)
Brief historical overview of SAP S/4HANA Finance
SAP S/4HANA is an enterprise resource planning SAP for huge companies. The creation of
SAP S/4HANA succeeded SAP R/3 as well as SAP ERP. SAP S/4HANA optimized to meet
the operational requirements of SAP HANA which is SAP's in-memory database. The SAP
HANA platform has been in existence since 2010. In the same manner, SAP applications
including SAP ERP as well as SAP Business have been able to be embedded and installed for
use on databases such as SAP HANA or any other database. SAP S/4HANA as noted already
is an enterprise resource planning software (Shaul and Tauber, 2010). It is a package whose
main attribute is to cover all the daily processes of a given enterprise. Some of these day to
day processes include a plan to product, order through cash, request to service as well as
procure-to-pay among many other organizational processes and several other fundamental
capabilities. The software is embedded with functionalities which make it capable of
integrating functions from various business lines and related industrial solutions. The
software is also fitted with a unique capacity to reintegrate aspects of the products of SAP
Business Suite including SAP SRM, SAP SCM as well as SAP CRM. It should be noted
though that SAP Business Suite 4 is only capable of being run on the SAP HANA database.
For that reason, its packaging is in the form of one product and specifically the SAP
S/4HANA. SAP's standard R3, Enterprising Reporting planning, and the ECC which have

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their basis on the business and the associated products were designed with a specific capacity
to run on a number of database platforms. Some of these platforms include Oracle, IBM, and
Microsoft. The new suite referred to as SAP S/4HANA was launched in 2015 at News's stock
exchange. The event marked the introduction of the cloud as well as premier editions. It was
also during this period that the on-premise edition was also launched. The availability of the
cloud edition did follow the launch of the SAPPHIRE NOW in the same year of 2015. SAP
S/4HANA has been dubbed SAP's most significant update of its enterprise resource planning
strategy as well as a platform over the last two decades. The post-launch analysts did note
that SAP S/4HANA epitomized a transformational shift. Notably, though, they did raise
doubts concerning the availability, functionality, migration as well as pricing concerning the
S/4HANA. By the end of April 2015, around 370 clients had been credited with the purchase
of S/4HANA. There was also positive growth in terms of demand for SAP confirmed in the
aftermath of the first half of 2015. By the turn of October 2015, SAP had already confirmed
more than 1300 S/4HANA purchases. By the end of the financial year in June 2018, the
software's customer base had grown to tremendous 8,900 customers.
Difference between SAP S/4HANA Finance and current SAP ERP FICO
SAP S/4HANA Finance and the current SAP ERP FICO are quite different in a number of
ways. Whereas SAP HANA is essentially just a reporting tool within SAP as well as its
technical module, SAP FICO is categorized as a functional model where one can manage all
the activities associated with accounts. SAP ERP FICO is integrated with several modules
such as MM, PP, FICO, SD, and SAP. Whereas SAP ERP FICO falls under the
categorization of the core functional components in SAP ERP Central which facilitates an
organization's capacity to manage all of its financially related data, the S/4HANA suite
entails ERP proficiencies across a range of distinct areas including the human resource, the
finance department, sales, procurement as well as the supply chain. SAP FICO major purpose
is to aid the capacity of companies in terms of being able to generate as well manage their
financial statements for the reporting as well as analysis to ensure effective decision making
as well as planning within the business. On the other hand, S/4HANA is essentially a
business suit whose development supplements the SAP's in built-memory framework,
HANA. SAP S/4HANA Finance is therefore just a component within the S/4HANA suite
which particularly deals with solutions relating to financial management.
Benefits of SAP S/4HANA Finance for businesses