SAP S/4 HANA Finance was basically referred as SAP Simple Finance. It has several features like the real-time analytics, streamlined design, and universal journal. One of the best examples of the financial module is SAP Asset Accounting. It has been reshaped in S/4 HANA suite to improve process efficiencies throughout the asset’s lifecycle.
Most people were not clear and questioned what SAP S/4 HANA Finance is. SAP S/4 HANA is actually SAP ERP 6.0 suite with a capacity of running on SAP HANA database. The next level of this application is SAP S/4 HANA Finance. It includes a set of interrelated financial management functions offering real-time data from ERP (Enterprise Resource Planning) applications. It is constructed on SAP HANA in-memory database platform. It uses SAP Flori for personalized and computerized UX (user experience).
It was established to remove customary barriers between analytics, transactional and planning systems to offer on the fly analysis and direct insights with all stages of financial data.
SAP S/4 HANA Finance is suitable for financial specialists and professionals in all sectors, including CFO’s (Chief Financial Officers) and other employees involved in financial operations, treasury, risk and compliance and accounting and tax. It is used by Fortune 100 enterprises, small companies, and corporations around the world.
Advantages of SAP S/4 HANA Finance
The main benefit of SAP S/4 HANA Finance is its processing speed is joined with incorporated features for several financial functions like management accounting and financial accounting. The software allows for a faster understanding of financial processes like quarterly close.
Another main benefit it has the capacity to employ real-time statistics with analytics to predict and model the influence of changes which a company wish to make, like acquisitions. It helps CFOs and financial professionals to play a major role while taking corporate decisions.
It is possible to implement SAP S/4 HANA Finance in hybrid, cloud and on-premises environments. The applications can be applied as bundled or standalone products.
Migration
SAP ERP ECC 6.0 systems can migrate to S/4Hana Simple Finance 1503 or 1605 based on source level and/or migrate to S/4Hana Suite 1511 or 1610, which consist of Simple Finance and Simple Logistics.