SAP S/4 Hana Finance: Overview, Comparison, and Advantages

SAP S/4 Hana

Contents
Introduction.................................................................................................................... 2
Brief overview of SAP S/4 Hana finance................................................................................2
Comparison between SAP ERP FICO and SAP S/4 Hana finance.................................................4
SAP S/4HANA Finance for business and its advantages.............................................................5
Case Studies................................................................................................................... 8
Conclusion................................................................................................................... 10
Reference................................................................................................................. 10

Introduction
SAP S/4 Hana finance software in ERP which is used in the database to store and help
companies execute transactions and help analyze real-time data. The implementation of SAP S/4
Hana in the company is included in this report and its influence on improving the performances
of different business units. This report includes the discussion of implication of SAP S/4 Hana in
the functions of business and its benefits to the organization for the competitive advantages. The
latest version SAP is SAP S/4 Hana which benefits the company in the process of accounting.
SAP Simple Finance is another name of SAPS/4 Hana as it helps in the accounting processes of
the corporates (Nieslanik, 2017). The transactions of the business can be simplified with the
implementation of SAP S/4 Hana finance and help in making the day to day transactions easy for
the finance department. This report includes a comparison of SAP S/4 HANA and SAP ERP
FICO. It includes the various benefits of the SAP S/4 HANA finance for the industries and two
company’s case studies will be provided who had faced the issues during the SAP
implementation software in the business process.
Brief overview of SAP S/4 Hana finance
SAP Simple Finance includes another name which is SAP S/4 HANA as all the traits of
accounting are included in this version. All the daily transactions can be recorded of the finance
which includes all the cash order, pay procurement, product planning, and services for request. It
is a measure of SAP S/4 Hana as it supports in integrating the cross-functional functions in one
system which combines the transactional process and analyze the real-time application. The
version of S/4 Hana was launched on 3 February 2015 and also two different products which are
SAP S/4 Hana on-premise and SAP S/4 Hana cloud (Nica, 2017). In SAP finance the use of SAP
Fiori is used for consumers and personalizing. The main purpose of SAP is removing the various
errors and barriers which arise in transactions, analyze and plan the systems for providing
insights and applying the analysis which is used for the financial data. Sap S/4 Hana is used by
the decision-maker in business for modeling the data and creating forecasts for making the
potential decisions with the help of real-time data of financials. SAP S/4 Hana is effective for the
professionals of finances and industries specialists which includes accounting and taxation,
financial operations, risk and compliance, and treasury. The main purpose of SAP Hana s/4 is to

provide the benefits to the company by integrating the features for the functions of finances like
financial accounting and management accounting. It is responsible for making the processes
faster for reconciling for the closing quarterly and providing the various financial truth for the
organization. It is the implementation of new software, system conversion and landscape
transformation (Necas, 2016). It can be customized according to the needs of the customers. It
includes controlling and monitoring the financial system effectively and it is useful to make the
process easy and generating the correct information for making effective decisions. There are
various elements that are comprised in the procedure of SAP S/4 HANA; accumulation and
application integration which are included in company process. It includes the analysis on a real
time basis, preparing journals, designing which are based on the streamlining. The vital element
of SAP is the SAP simple finance 2.0 and the latest version is SAP simple finance 1.0. for
financial accounting. Reporting and analysis is the element for ensuring to provide the work on
time by installing the SAP Hana live as an enterprise system. It is used as a financial tool for the
financial capabilities and development of the business (Kollars and Martisko, 2012). it brings
effective experience for the users and fulfills the requirements in business.
SAP brings the various opportunities and effective ideas and makes the process easy for the
employees by reducing the manual work in financial accounting. The implementation of an