SAP S/4 HANA Finance Overview and Benefits

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TITLE: SAP S/4 HANA FINANCE OVERVIEW AND BENEFITS
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Table of Contents

INTRODUCTION........................................................................................................... 3
BODY.......................................................................................................................... 3
A brief historical overview of SAP S/4HANA Finance-..............................................3
The difference between SAP S/4HANA Finance and current SAP ERP FICO.............4
What are the benefits of SAP S/4HANA Finance for businesses?.............................4
Case Studies of companies and the issues they faced migrating to SAP S/4HANA
Finance.................................................................................................................... 6
CASE 1:................................................................................................................ 6
CASE 2:................................................................................................................ 7
CONCLUSION:............................................................................................................. 9
REFERENCE:............................................................................................................. 10

INTRODUCTION
SAP stands for Systems Applications and Products in Data Processing. By
interpretation, SAP is often referred to as the company name of the ERP (Enterprise
Resource Planning) software. Wellenreuther, Hopp, Hector, Plattner and Tschira
created SAP Software in 1972. SAP model comprises of a range of totally embedded
systems covering nearly every element of corporate strategy. In the ERP industry,
SAP is at the top. SAP has more than 140,000 facilities globally as of 2010, more
than 25 enterprise-specific company systems and more than 75,000 clients in 120
nations. Other SAP Technology Strategic items on the field are Oracle, Microsoft
Dynamics etc. (Guru99.com, 2019)
SAP software solutions supply strong tools to help businesses handle their
monetary, operations, procurement, and other fields of company. The basis of the
development of SAP technology is the SAP ERP scheme, which is the most
sophisticated of presently accessible Enterprise Resource Planning (ERP) systems.
SAP has developed to give software tools to help complicated company features
and this report will clarify how SAP works (at high level). (ERProof, 2019)
BODY
A brief historical overview of SAP S/4HANA Finance-
SAP ERP 6.0 is a package that can function completely on a directory of SAP HANA.
This is a leap forward for SAP S4/HANA Finance. Some of the previous FI / CO
package's main parts were remade so that they can take complete benefit of the
possibilities of SAP HANA. The 2014 version of SAP Simple Finance (version 1.0) was
the add-on SAP HANA-optimized variant for the SAP Business Suite Financial
Accounting package. By contrast, SAP Simple Finance 2.0 is component of the 2015
edition of SAP S/4HANA package. (Management, 2019) SAP Simple Finance 2.0 is SAP
Simple Finance 1.0's revised and redone sequel. Since SAP S4/HANA Finance is
feature of the S/4HANA package, understanding what S/4HANA comprises of is
essential. There are four elements of SAP S/4HANA:
1. The operational / key element: as portion of the operational / key
element, SAP offers the different accounting capacities and improvements. To
be willing to entertain a transfer or redesign to S/4HANA, one must be on at
least SAP Net Weaver 7.4, SAP ERP Central Component (ECC) 6.0
Enhancement Package 7, and SAP HANA version 1.0. A transition from ECC
6.0 to S/4HANA is a feature update involving transfer sheets relocation.

2. Element demonstration / user experience (UX): This part of the SAP
Fiori-based GUI enables you to communicate with the key element through
the user-friendly Fiori displays. It calls for variant 2.0 of SAP Net Weaver 7.4
and SAP Gateway. Keep in mind that this element is voluntary and one can
precede as their UI with your current SAP GUI or Net Weaver Business User.
3. The disclosing / metrics element: This element uses pre-packaged HANA
Live opinions to allow actual-time reporting and analytics. SAP HANA Live 1.0
for SAP ERP and SAP HANA are the requirements for implementation. This is
also an optional element.
4. App element: This element is a compilation of technical apps for important
investment policy-makers in a business in the Investments set.
The difference between SAP S/4HANA Finance and current SAP
ERP FICO
SAP S4 HANA is placed as the fresh cyber hub for current ECC clients and an
immediate shift from SAP FICO. SAP now offers appealing rebates to further steer
this acceptance. But, in terms of features and capacities, it is not an immediate
substitute for SAP ERP. Equated to SAP FICO ERP, the significant shifts in SAP S4
HANA are:
1. Removal of replica features: SAP FICO has couple of systems of general
ledgers (GL). But, as portion of the S4 HANA transition, SAP S4 HANA utilizes
the new General Ledger Accounting system instantly introduced. SAP S4
HANA even has Extended Warehouse Management (EWM) features integrated
in the key scheme rather than having a distinct SAP SCM scheme as in SAP
FICO.
2. In S/4HANA, several FICO feature has no immediate substitute: SAP
has indicated that the features in SAP FICO are likely to be in the SAP
S/4HANA blueprint. However, this implies that companies moving to S/4
HANA will have outdated procedures.
3. S/4HANA key implementation of stand-alone alternatives: SAP
Transportation Management and SAP Extended Warehouse Management are
two stand-alone alternatives that S/4 HANA has introduced to its heart.
4. Fresh usable skills: SAP releases a range of fresh features intended to
operate with S/4HANA and in-memory coding. Cases involve S/4HANA-
Optimized Central Finance, SAP Cash Management, and SAP BPC. But extra
permits are required for these.
5. Replacing FICO and on-prem features with SAP storage LoB
strategies: Examples: replacing human capital handling with SAP Popularity
Variables and managing Ariba's provider partnership.
Generally speaking, the operational range of S/4HANA has some quite important
modifications. SAP offers integration bundles to enable S/4HANA to operate such
SAP FICO features. But this is a metric of halt-gap. In order to really use S/4HANA