A Deeper Analysis of SAP S/4HANA Simple FinanceCategory: SAP S/4HANA Finance Posted:Dec 09, 2016 By: Robert
The connection between financial leadership and IT capabilities of a company is enhancing increasingly tighter. A disappointment in finance can influence IT and a disappointment in IT can influence finance. Organizations cannot make board level and corporate decisions without knowing that relationship. SAP S/4HANA is a product that is built on the SAP HANA, the latest in-memory platform. SAP HANA is a well-honored technology platform for speed. The ability of HANA including reinforcing stability, simplify enterprise architecture, generate big savings, and scale limitlessly are equally impressive. Let us have a deeper analysis of this platform.
SAP HANA is a column-oriented, in-memory, relational database management unit, which is developed as well as marketed by the multinational corporation, SAP SE. Formerly, SAP S/4HANA was known as SAP high-performance analytic appliance. This simple finance platform empowers businesses to function in real-time and to crunch Big Data including operational, transactional, structured as well as unstructured functionalities. With the features like advanced in-memory densities, unmatched processing power, and columnar storage, SAP on HANA analyze, transact and predict immediately on a universal platform.
SAP S/4HANA Simple Finance is popularly known as the succeeding generation business group specially designed to support function hassle-free and simple in today’s digital economy. SAP HANA can offer an adapted user experience; since it is easy to access.
This comprehensive finance solution can be deployed on-premise or in the cloud. It can able to provide immediate intuition for professionals. It empowers non-disruptive migration, improves the portfolio of current finance solution and preserves its functional asset. Treasury management, financial risk management, financial close and collaborative finance operations are some of the financial areas, which are covered by this new business suite.
Contribution of SAP Simple Finance
- This can enable high-speed real-time analytics across all the dimensions of finance without any restrictions.
- It includes built-in ability to provide analysis, simulations, and prediction to validate the financial consequences of planned business options.
- It offers optimized business processes and event-driven processes.
- It provides a non-disturbing migration path.
Benefits of SAP S/4 HANA Simple Finance for Organizations
The following are some of the notable advantages for organizations, which utilize SAP S/4HANA as an ERP foundational key for their business functionalities:
- Simplified master data
- Eliminates redundant data
- Eliminates reconciliation effort
- Adorable user experience
- Support processing transactions and analytics together
- Accelerate financial close
- Improved system performance
- Real-time analytics
- Improved business advice with more appropriate and timely vision
- Lower IT complexity
- Effective Financial risk management
- Effective working capital management
- Reduce the cost of manual report generation
- Reduce operational dangers from swindle and other nonconformity activities
Source: SAP Simple Finance Architecture from Global Online Training
The figure shows that simple finance allows one common real-time universal journal entry for all subsidiaries. This feature guarantees enterprise-wide consistency. It also reduces reconciliation errors and time. With SAP on HANA Simple Finance, the CO, FI and CO-PA line entries are stored at the equal granularity level and are associated with the ratio 1:1. This facilitates that the reporting is not restricted by the boundaries of applications.
What users think about SAP S/4 HANA Simple Finance on-cloud?
Source: the UK and Ireland SAP User Group
Applications of SAP Simple Finance based on the deployment of the in-memory cloud platform are receiving a mixed response from the users. Over 4/10 user organizations are looking to use this technology. However, organizations who have no plans hesitate to use this platform. They consider its cost other than its benefits.
Deployment Choices of SAP
SAP S/4 Simple Finance can be deployed in three different consumption models. They are on-premise, managed cloud and hybrid.
Some users like to run the implementation of SAP on-premise. In this method, the software is deployed in the own data centre of the customers. This kind of implementation contains entire control on the systems including functional configurations and power to make an alteration of the system. The IT team of the company manages its security and governance.
Companies who are interested in the Simple Finance deployment in the cloud can make use of SAP S/4HANA enterprise cloud. In this managed service, the SAP maintains the software and servers of the organizations. They install the software on the server, which is appropriate for a particular customer. It allows customers to configure their unique business processes. However, they are not permitted to make alterations. SAP is responsible for performing upgrades, implementing technical maintenance, and handling hotfixes.
The hybrid model is the compilation of on-premise as well as cloud implementations. If the customers who have not moved their entire modules of ERP to the cloud, then it is difficult for them to run in this environment.
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Enterprises, which like to migrate to SAP S/4HANA Simple Finance platform, prefer to recruit SAP certified professionals. There are countless SAP training companies across the world. The professionals should have complete and full-fledged knowledge of SAP simple finance. They should have knowledge of administration, development, and application design of the real-time projects.
I hope that by now you have had an overview of SAP S/4 HANA Finance. Before you enroll in ZaranTech’s certification course on SAP S/4 HANA Finance, do check out the S4 HANA Finance demo: