Both FICO and S4 HANA Finance are two phenomenal SAP solutions. Using these solutions an enterprise can easily manage their financial data. But which SAP solution is better than the other? So, to find the answer to this question today we are going to learn about both of these amazing SAP solutions in detail.
What Is SAP FICO?
It is a very powerful module of SAP ERP that works on the ECC model. Moreover, the module consists of two sub-modules which are FI & CO modules. Both the sub-modules enable an enterprise to easily manage its business process. Furthermore, the FICO module enables an enterprise to effortlessly automate its financial processes. Moreover, it also makes financial reporting very easy for an organization. In other words, using the FICO module can be very advantageous for a firm. To learn how to configure the FICO module in more detail feel free to join our SAP FICO Certification Course.
The FICO module offers tons of benefits to its users. For instance, it enables its users to streamline their financial processes easily & efficiently. Furthermore, it comes with a real-time reporting feature that makes it very easy for an enterprise to analyze its financial performance. In other words, using this astonishing module of SAP ERP can be very beneficial for an organization. Following are the advantages/benefits that a firm gets by using the FICO module of SAP ERP:
- It makes it extremely easy for a firm to streamline all its financial processes.
- By using the FICO module, a firm can develop a better understanding of its current financial performance.
- The module gives its users flexibility to modify/customize it as per their business requirements.
- The modules make financial management and financial reporting very easy for an organization.
- By using the module, a firm can reduce manual errors in its financial reporting.
- The module empowers a firm to easily tackle changes & challenges in the business environment. Besides this, the module also assists an organization in doing better business planning.
- You can integrate the FICO module with various other modules of the ERP system. For instance, you can integrate the module with the MM & SD module of SAP.
What Is S4 HANA Finance?
It is basically a robust business application suite that is built using the HANA platform. By using SAP S4 HANA Finance a firm can easily manage its operational and financial data. Furthermore, the business application suite comes with robust analytics capabilities that allow its user to easily analyze its operation/financial data. Besides this, it also helps a firm in eliminating the need of reconciling data. Moreover, it also helps a firm have much better control over its inventory. Overall, SAP S4 HANA finance is a phenomenal business application suite and offers numerous benefits to its users.
The business application suite offers a lot of advantages to its users. For instance, it makes it quite easy for an organization to manage its operational & financial data. Moreover, it also enables an enterprise to eliminate the need of reconciling its business/financial data. In other words, it is worthwhile for an enterprise to use this amazing business application suite. Following are the benefits that this phenomenal business application suite provides to its users:
- The business application suite is built using HANA technology.
- It makes it very simple and easy for an enterprise to manage its operational/financial data.
- The business application suite features SAP Fiori.
- It enables a firm to eliminate the need of reconciling its financial data.
- By using this fabulous business application suite, a firm can have better control over its inventory.
- The business application suite makes financial planning & decision-making very easy for an enterprise.
SAP FICO vs SAP S4 HANA Finance
Following are the key differences between these phenomenal SAP solutions:
- S4 HANA Finance is built with the help of HANA technology. On the other hand, the latter is built with the help of the ECC model. To learn about the ECC model in detail feel free to join our SAP FICO Training in Delhi.
- S4 HANA Finance comes with SAP Fiori. On the other hand, the latter comes with SAP GUI.
- HANA Finance has extension ledgers, simulation ledgers, etc. On the other hand, its competitor has parallel ledgers.
- SAP S4 HANA finance offers numerous options to an enterprise that empowers it to reduce its cost of goods. On the other hand, FICO does not offer such options to its users.
As you can see there are various differences between SAP S4 HANA Finance and SAP FICO. For instance, S4 HANA Finance is built using the HANA platform. On the other hand, the latter is built using the ECC model. Similarly, SAP S4 HANA Finance use SAP Fiori. On the other hand, FICO uses SAP GUI. So, do keep these differences in your mind before selecting any of these solutions for your organization. This will ensure that you are able to use an SAP solution that is ideal for your organization.