SAP S/4HANA Finance and SAP S/4HANA Enterprise Management’s Finance Line-of-Business (LOB)
In S/4HANA space, SAP has released TWO MAJOR PRODUCTS
SAP S/4HANA Finance (aka Simple Finance)
The Initial release started with “Simple Finance” – it could be deployed as add-on on ECC Implementation. & later SAP released the product with version#1503.
In later years, SAP focused on SAP S/4HANA Enterprise Management (with deployment in On-Premise & Cloud Versions)
SAP S/4HANA Enterprise Management ON-PREMISE (OP)
This picture represents the journey of initial days of the product SAP S/4HANA
SAP S/4HANA Finance covers following capabilities :
- Financial Planning and Analysis
- Accounting and Financial Close
- Treasury and Financial Risk Management
- Enterprise Risk and Compliance Management
- Collaborative Finance Operations
- Receivables Management
What’s changed in SAP S/4HANA in Finance Line-of-Business (LoB)
SAP S/4HANA has major changes in Finance, Controlling, Asset-Accounting, Inventory-Valuation, Financial Close and many other Finance Functions. All these functions have become extremly tightly integrated, thru UNIVERSAL JOURNAL – THE SINGLE SOURCE of INFORMATION & & Real-time availibility of information.
The Data-structures are simplified and it helps lower the data-footprint
The faster-thruput and data-fetch is acheived as result of HANA database. It also ensures facilitating advance capabilities of Machine-Learning.
For details on Innovations in S/4HANA, please refer to page on S/4HANA Innovations.