SAP S/4HANA Simple Finance: What’s New?
Why SAP S/4HANA Finance?
The digital age calls for finance organizations to take a fresh look at brand new and constantly changing Business models to give decision makers the added benefit of instant insight. SAP S/4HANA finance lets you generate a consolidated view of all existing operational and financial data offering malleable and easily digestible reporting through the automation of processes. The instant assessment of financial consequences of Business choices with the aid of real-time simulations, prediction and in depth analysis with the added background of an aesthetically and functionally superior User Experience
SAP S/4HANA Finance Innovations
SAP S/4HANA which was formerly known as SAP Simple Finance is a holistic group of financial accounting and management solutions spanning enterprise risk and compliance management, collaborative finance operations, treasury and financial risk management, accounting and financial close, covering financial planning and analysis all the while being powered by the hyper-efficient SAP HANA in-memory database. SAP Simple Finance training for beginners is gaining widespread recognition and coupled with rising demand all across the world.
Specifically architected for today’s CFO and his office, such solutions erase the conventional boundaries between planning, analytical and transactional systems. Delivering instant insights coupled with on-the-fly analysis across every level of financial data is what this software does best. SAP Simple Finance Certification training is being adopted by companies worldwide to catch up with the latest developments in finance from the house of SAP with some of the best SAP Simple Finance training available in India and abroad.
This software suite of SAP spans the whole range of financial management portfolio. But there are also amazing enhancements and innovations in every finance area as is explained below:
Financial Planning and Analysis (FP&A)
The SAP S/4HANA Finance processes for Financial Planning and Analysis enables you as a customer to speed up planning sequences, enhance profitability greatly and transform finance functions into highly efficient processes.
Fresh Innovations — the SAP BPC or Business Planning and Consolidation version for SAP Netweaver allows planners to avail real-time accruals and master data within SAP ERP without the hassle of data replication. One unified financial planning model allows one to execute simulations on an end-to-end basis coupled with accelerated planning sequences.
- You can embed end-to-end planning processes while making use of operational data which is real time to remove redundancy and associated time lags.
- You can execute financial analysis on-the-fly at any level of detail utilizing an individual table in-memory.
- You can back the complete financial planning lifecycle which includes reporting, updates and development.
- Generate simulations on an ad-hoc basis for enterprise changes or even fresh Business models in your ERP system directly.
Accounting and Financial Close
Enhancement of compliance and control, the ability to close the books at an accelerated rate, minimizing the closing workloads and associated costs with the Finance processes for financial and accounting close.
Fresh Innovations- The integration of financial and management accounting is made possible with the help of SAP Accounting, including profitability into a common consolidated journal which can be referred to universally. This eliminates the need for indices, totals and other such pre-defined aggregates and depends only on line items which tend to act as a singular source of truth.
Data redundancy is eliminated since Fixed Asset Accounting for this software suite is consolidated into the universal journal architecture. Various parallel documents for every valuation are posted in real time to make sure of accurate values right from the start.
- Running closing tasks along with inter-period processes in real time
- Executing real-time reporting with full drill-down through any dimension
- Using a singular data model which is unified for the purpose of process simplification and enhancement of productivity and minimization of risk
- Easy execution of depreciation runs with the use of processing logic that is highly simplified along with simplified data structures
- Exclusive use of line item postings for each individual asset, enabling detailed reporting
Treasury and Financial Risk Management
One can precisely predict cash flow, reduce and manage risk, manage liquidity using this software suite for financial and treasury risk management. One can also integrate market data, commodity positions, transactions and cash flows as well. Optimization of straight-through processing is made possible with complete-view and real time analysis, compliance reporting and audit trails.
Fresh innovations like SAP Cash Management offers real time global cash positions and proves to be of great benefit, especially when in the presence of backed systems which are heterogeneous. Capabilities exist, which are new and offer in-depth analysis of predicted cash flows. This means bringing in higher consistency levels to cash balances, liquidity strategies and cash requirements.
- Integration of cash flow analysis, Business planning and also liquidity planning lifecycles
- Leveraging holistic bank account management
- Obtaining real-time visibility for currency exposures and bank balances
- Enhancement of executive engagement coupled with a User Interface that is Modern and intuitive
- Finance Operations which are Collaborative in nature
This software suite’s processes for finance operations that are collaborative, one can quickly react to market dynamics which fluctuate. Also possible will be the automation of payables and receivables processing, the complete overhaul of shared services delivery along with travel management which is highly streamlines, while simultaneously minimizing costs.
All the developments mentioned in SAP Simple Finance are detailed innovations that are looking at changing the way the world does finance as we know it. The above developments are the main reason why SAP Simple finance certifications are so much in demand, with SAP S/4HANA online training and certification leading the pack in terms of course demand.