SAP Simple Finance is a complete finance solution based on SAP HANA, which can be utilized in the cloud or on-premise. SAP Simple Finance is also called SAP S/4 HANA Simple Finance. Designed to be simple to utilize, it can give immediate insight for finance specialists. It improves the present finance solution portfolio from SAP, maintaining its functional strength while enabling non-disruptive migration.
Simple Finance consists of a set of interconnected financial management functions that give real-time data from the ERP applications. SAP S/4 HANA Finance is part of S/4 HANA and is based on the SAP HANA in-memory database platform. S/4 HANA coordinates cross-organizational capacities into one system that combines transactional processes and analytics for real-time applications. For the front end, SAP S/4 HANA Finance uses SAP Fiori for a consumer-like and personalized User Experience.
SAP Simple Finance is intended to remove traditional barriers between transactional, analytics, and planning systems to provide instant insights and on-the-fly analysis using all levels of financial data. A business decision maker, for example, can use SAP S/4 HANA to model data and create estimates of possible determinations using real-time financial data from different systems.
How has it been built?
SAPSimple Finance is the latest version of SAP ERP Financial & Controlling, which has been rebuilt based on the SAP HANA models in order to get full advantage of the opportunities offered by SAP HANA and to get cleared of any conditions of constraints coming from the disk-based database models, which no longer apply.
In this terms, SAP Simple Finance Training has built a completely new data model for the SAP Financial modules, where all aggregates, sub-totals, and stabilization tables have been reduced. The new financial data model will contain the data related to Finance, Controlling and Profitability Analysis (CO-PA) modules.
The SAP Simple Finance user interface will be SAP Fiori, allowing personalized, modern and regular user experience across the applications, and for any device (desktop, tablet, mobile).
What is the SAP Simple Finance offering?
· Enable high-speed real-time analytics at most granular level across all financial dimensions without any limitations.
· One common view of real-time harmonized financial and management accounting data for all subsidiaries, to help assure enterprise-wide flexibility and reduce adjustment time and errors.
· Built-in ability to use prediction, simulation, and analysis to estimate the financial connections of strategic business options.
· Optimization of Business Processes – Event-driven processes with real-time execution.
Following features are available for SAP Simple Finance Online Training
· Financial Planning and Analysis
Using SAP Simple Finance Course, organizations can use it to forecast, plan, and budget as an ongoing process. With the use of Predictive Analysis, you can forecast the impact of business decisions on the financial reports of the organization.
· Accounting and Finance
With the use of advance Finance and Accounting features, organizations can meet the legal terms and complete the financial reports on time.
· Financial Risk Management
Using Predictive Analysis, organizations can find the risk in financial processes at an early stage and device ways to mitigate them. It is easy to find the best possible investment rates as per market standards.
· Risk and Compliance Management
Using strong financial processes, it is easy to prevent unauthorized access to sensitive data in the organization. It is easy to detect fraud and abuse, and organizations can proactively balance the risk for all the financial processes.
Current situation of SAP Simple finance
· The technical software components of SAP S4 HANA Simple Finance Training have successfully passed ramp-up and are generally available since August, 1st.
· The software has been released for all Industries with the exception of Joint Venture Accounting for Oil & Gas and Mining.
· It is localized for all 62 country versions.
· Released Fiori User Interfaces for GL-, AP- and AR-Accountants plus Cash Managers are localized for 39 of the 62 countries.
Functionality and benefits of Simple Finance
· It is called as the single source of truth: which means we will be having one data entry table which is called as universal journal entry table, which contains all the GL, CO, ML, Access accounting all the information will be stored in one single table.
· It has got real-time process using SAP HANA
· It has got no data footprint, which means it has got no totals table and no secondary indices which mean reduction of data.
· As you will get a real-time result it is more profitable to the organization.
· Faster reporting which makes it easy to plan and analyze the data.
· The instant insight, which gives a real-time information and makes it faster and simple which of course leads to improving organization productivity.
Learn SAP Simple Finance Online Training Courses at Vintage IT Solutions in India, UK, USA. The SAP Simple Finance Training includes Financial planning and analysis, accounting and financial Close. SAP Simple Finance Tutorial provides new code to customers in specific areas, for example in the financial add-on for SAP Business Suite powered by SAP HANA and in the new, planned finance applications based on the financial add-on SAP accounting powered by SAP S4 HANA and SAP cash management powered by SAP HANA.
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