SAP S/4 HANA Finance: Overview, Differences with SAP ERP FICO, and Benefits for Businesses

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Table of Contents
Introduction:...............................................................................................................................3
A brief historical overview of the SANA S/4 HANA Finance:.................................................3
The difference between SAP S/4HANA Finance and current SAP ERP FICO:.......................5
Issues faced by the companies during the migration to SAP S/4 HANA Simple Finance:.....11
Conclusion:..............................................................................................................................13
References:...............................................................................................................................15

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Introduction:
The report will consist of a study regarding SAP S/4 HANA it is a computerised
accounting system. This SAP ERP 6.0 runs the database of SAP HANA and is wholly
capable of performing it. In the year, 2014 there released the SAP simple finance was
polished with SAP HANA that acts as the optimized form of the Financial Accounting
module in the Business suite of SAP. In the year 2015, the SAP S/4 HANA was released.
These days SAP S/4 HANA finance is accessible in the both the versions that is the cloud
version as well as the on-premise version. This study will consist of a brief discussion about
the overview of the computerised accounting software that is the SAP S/4 HANA. Again, the
report will consist of a differentiation of SAP S/4 HANA with another software named as the
SAP ERP FICO. The benefits of the SAP S/4 HANA Finance are also to be discussed in this
report for the Finance purpose of the businesses of the companies. Some case studies are also
to be discussed in this report to recognise the issues while the companies are migrated to SAP
S/4 HANA from any other accounting software. A company with the assistance of the SANA
S/4 HANA can form a combined image about all the financial as well as the effective
information for lending easy and supple reportage with the computerization of developments.
A brief historical overview of the SANA S/4 HANA Finance:
The SAP S/4 HANA previously termed, as the SAP Simple Finance are comprised of
many characteristics for example the streamlined design, universal journal as well as the real
time analytics. The S/4 HANA suite that is redesigned for the increment of the efficiencies of
the procedures through the assets’ life cycle is an example of the new SAP Asset Accounting.
As the announcement of the SAP S/4 HANA Finance is announced by the SAP in the year
2014, there raised many queries regarding the knowledge and the details about the product
(Adams 2016). It was assumed by much of the race including the customers of the SAP that
the product is a sub-module of the Financial Accounting and Controlling that is a modest way

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to organize than that of the exertion which is essential in ERP suite at present. For receiving a
clear image of the SAP S/4 HANA Finance it is firstly required to get an idea about the
journey of the SAP along with the SAP HANA as because this relates to the SAP S/4 HANA
as well as the DNA of the SAP (Adenike and Michael 2016).
In the year 2015, in the month September, the SAP S/4 HANA has replaced the SAP
Simple Finance. As the SAP S/4 HANA is the portion of the S/4 HANA suite thus, to receive
a clear image of the S/4 HANA is essential (Aduamoah et al. 2017). The composition of the
SAP S/4 HANA is consisting of 4 modules:
 The core module: As a portion of the core or the functional component, the SAP
provides numerous capabilities of the finance as well as the enhancements. For
considering a relocation or to advancement the S/4 HANA, from the several figures
like the ECC that is the SAP ERP Central Component 6.0, SAP Net Weaver 7.4,
Enhancement Package 7, SAP Hana version 1.0, at least one is required. A migration
from the ECC 6.0 to S/4 HANA is an operational advancement that has included the
transaction tables migration (Alamin et al. 2015).
 The analytics modules: The real-time reporting is enabled in this component as well
as the analytics which castoff the pre-packaged view of the HANA Live. For the
installation purpose of the HANA Live 1.0 the pre-rudiments are the SAP HANA and
the SAP ERP which is an elective module (Anaeli 2018).
 App Module: In an enterprise, for the chief financial verdict producers this module
acts as a collection of the analytical module in the Financials Suite (Askarany 2015).
 The user involvement module: This is the GUI module which is a SAP that is based on
the Fiori assists in the interaction of the core module by the Fiori which is very much
comfortable to use. Here, the SAP Gateway version 2.0 and the SAP Net Weaver 7.4
is essential. As this is an optional module, thus; the continuation of the SAP GUI