24 SAP S/4HANA Finance Benefits

Mon, 01 Mar 2021 02:30:10 +0000

SAP S/4HANA Finance is a powerful solution for businesses to use in their financial operations. This post will take a look at 24 benefits it brings for business growth, profitability, and agility.

Growth

Below are eight benefits SAP S/4HANA Finance brings for business growth.

Customer Lead Time

When it comes to customer lead time, SAP S/4HANA Finance provides faster payment runs, accruals posting, and loan valuations. In addition, a faster engagement period with customers helps improve customer relations. Lastly, SAP S/4HANA Finance provides a scalable platform for massive data (e.g., processing 50 million daily orders).

Data Volume

SAP S/4HANA enables a high-volume billing process to meet promotional and peak season requirements.

Days Sales Outstanding

With SAP S/4HANA Finance, companies can realize a reduction in days sales outstanding (DSO).

Invoice Processing Time

SAP S/4HANA’s architecture means that time spent on invoice processing can be substantially decreased.

New Revenue

The speed and ease of use of SAP S/4HANA means companies can reduce the time it takes to bring new products and services to the market.

Revenue Growth

Since SAP S/4HANA integrates processes directly from the sales plan to subcontracting execution through material requirements planning, it is easier to create a rolling forecast that leads to production meeting sales demand.

Revenue Leakage Reduction

SAP S/4HANA reduces revenue leakage by over 50% compared to the industry standard.

Transaction Processing

As mentioned above, SAP S/4HANA can be scaled to process millions of orders. It can do so with a very high accuracy, reducing costs incurred by mistakes.

Profitability

Below are seven benefits SAP S/4HANA Finance has to facilitate profitability and create value for an organization.

Bad Debts Written Off

SAP S/4HANA brings about a substantial reduction in uncollectable accounts receivable.

Days to Close Monthly Books Reduced

The number of steps required to achieve a monthly financial close is reduced with SAP S/4HANA Finance, meaning reports can be generated quicker.

Direct Material Spend

SAP S/4HANA provides an enhanced visibility to procurement activities that will enable reduced rates and optimized spend.

Employee Productivity

SAP S/4HANA gives easy and mobile access to sales and master data, i.e. contact details leading to easy access to information and improved usage of sales resources globally. Additionally, the integrated nature of the suite provides a streamlined and standardized corporate business process and buildup. And finally, automation such as predictive accounting creates a reduction in man-hours spent on manual processes, freeing employees up to do other tasks.

Inventory

As part of SAP S/4HANA logistics’ capabilities, optimized inventory management establishes real-time visibility into stock and spare part levels.

Profitability

Product costing across the supply chain that gives users visibility of viable products is important. SAP S/4HANA provides that visibility.

Reduced Total Cost of Ownership

SAP S/4HANA reduces the complexity of the technology landscape with hardware reduction, maintenance, and software license elimination.

Agility

Below are nine benefits SAP S/4HANA Finance has to increase agility for an organization.

Business User Satisfaction

Happy employees are productive employees. Simplified processes and an improved user experience with SAP Fiori in all functional areas are a key selling point for SAP S/4HANA.

Data Processing Performance

SAP S/4HANA reduces the backup time from hours to minutes.

Data Volume

SAP S/4HANA is run on SAP HANA, and reduces data size by 90% for faster reporting and improved process efficiency.

Days to Close Books

When it comes time for financial close, SAP S/4HANA Finance accelerates this process by a factor of three to four times.

Employee Productivity

Rationalized accounting, budget planning, reporting, and execution procedures are in line with best practices. With automation of tasks, employees don’t need to spend as much time on manual efforts across accounting, finance, and indirect procurement. This mitigates risk.

Order Processing Efficiency

Compared to legacy systems, SAP S/4HANA is 75% faster when completing key business processes.

Reduction of Cost

With the reduction of repetitive, manual work, waste can be reduced.

Reduction of Risk

Live reporting with improved audit and controls means a substantial reduction in the business-risk profile and fraud-prone areas. Additionally, consistency of business processes and financial practices for all locations worldwide reduces risk and operational complexity.

Reporting Efficiency

SAP S/4HANA is a single landscape, so no matter where subsidiaries are located, leadership can get accurate information and consolidated reports in real time.

Conclusion

This post shared some of the many benefits that SAP S/4HANA brings to a business, focusing on the area of finance. Which benefit is the most exciting to you? Share your thoughts in the comments below.

Credit for this blog

The post 24 SAP S/4HANA Finance Benefits first appeared on voisap.

Certifications for SAP S/4HANA Finance

Sat, 20 Feb 2021 13:37:15 +0000

Interested in certifications for SAP S/4HANA Finance ?

For SAP S/4HANA Finance, we are offering five different certifications in the space of Financial and Management Accounting. Depending on your level of expertise as well as your main focus area, the following summary should help you to choose the right certification for your situation.

You are already an expert in SAP Financials?

If you look back on several years of implementation experience of SAP ERP Financials, then you should consider the following certification:

SAP Certified Application Professional – Financials in SAP S/4HANA for SAP ERP Finance Experts (P_S4FIN)

This certification basis on trainings that are related to SAP S/4HANA and on your on the job experience. These focus on the differences between SAP ERP Financials and Finance in SAP S/4HANA. So if you want to prove your readiness to run implementation projects of SAP S/4HANA Finance – new implementations or migration projects – this certification is a valid and the best starting point for you. The following knowledge will be assessed:
– Accounting in SAP S/4HANA, 2 days (S4F01)
– Management Accounting in SAP S/4HANA, 3 days (S4F02) and
– Conversion of Accounting to SAP S/4HANA, 2 days (S4F03).

You can attend these courses in a classroom (S4F01 + S4F02 + S4F03) or consume the eLearnings (S4F01e + S4F02e + S4F03e) or study the course books.

Picture is an extract from the learning journey SAP S/4HANA Finance – Financial &Management Accounting – Upskilling for SAP ERP Experts.

Or are you rather a newcomer to SAP Financials?

For newcomers who are not yet experienced with SAP Financials, we are recommending the two following certifications – depending on your main area of expertise:

SAP Certified Application Associate – Financial Accounting in SAP S/4HANA (C_TS4FI)

This certification focuses at the full knowledge of Financial Accounting in SAP S/4HANA. It addresses ‘new’ learners with a recommended experience of 3 years (minimum 1 year) in Financial Accounting on SAP. These ‘newcomers’ are recommended to attend the academy ‘Financial Accounting in SAP S/4HANA’ (TS4F01, TS4F02). This is an ‘associate’ level certification, and the questions will stay in the context of Financial Accounting.

Picture is an extract from the learning journey SAP S/4HANA Finance – Financial Accounting.

SAP Certified Application Associate – Management Accounting in SAP S/4HANA (C_TS4CO)

This certification focuses at the full knowledge of Management Accounting in SAP S/4HANA. It addresses ‘new’ learners with a recommended experience of 3 years (minimum 1 year) in Management Accounting on SAP. These ‘newcomers’ are recommended to attend the academy ‘Management Accounting in SAP S/4HANA’ (TS4F03, TS4F04). This is an ‘associate’ level certification, and the questions will stay in the context of Management Accounting.

Picture is an extract from the learning journey SAP S/4HANA Finance – Management Accounting.

Do you want to prove your expertise in other specific Finance areas ?

SAP Certified Application Associate – Central Finance in SAP S/4HANA (C_S4FCF)

This certification focuses at the full knowledge of Central Finance in SAP S/4HANA. The learners are recommended to attend the below mentioned courses (classroom, ebook or eLearning) to be prepared for the exam.

Picture is an extract from the learning journey SAP S/4HANA Finance – Central Finance.

SAP Certified Application Associate – Treasury Management in SAP S/4HANA (C_S4FTR)

This certification focuses at the full knowledge of Treasury Management in SAP S/4HANA. The learners are recommended to attend the below mentioned courses (classroom, ebook or eLearning) to be prepared for the exam.

Picture is an extract from the learning journey SAP S/4HANA Finance – Treasury Management.

Credit for this blog

The post Certifications for SAP S/4HANA Finance first appeared on voisap.