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What is SAP S/4HANA Finance?
Initially released in 2014, SAP S/4HANA Finance is the core financial solution for SAP customers, designed to leverage the SAP Fiori user interface and in-memory computing power of HANA. Previously referred to as SAP Simple Finance and SAP ERP Financials, SAP S/4HANA Finance provides multiple innovations, such as the Universal Journal single source of truth, allowing organizations to streamline financial processes, with real-time updates and reporting, across a simplified data model for storing financial and managerial accounting information.
What is SAP S/4HANA Finance?
Initially released in 2014, SAP S/4HANA Finance is the core financial solution for SAP customers, designed to leverage the SAP Fiori user interface and in-memory computing power of HANA. Previously referred to as SAP Simple Finance and SAP ERP Financials, SAP S/4HANA Finance provides multiple innovations, such as the Universal Journal single source of truth, allowing organizations to streamline financial processes, with real-time updates and reporting, across a simplified data model for storing financial and managerial accounting information.
Many SAP ERP customers utilize SAP S/4HANA to manage core business functions that enable timely and accurate financial operations and reporting, such as accounting and finance, financial planning and analysis, financial risk management, and risk and compliance management. SAP S/4HANA Finance is a powerful and versatile system that can be deployed in multiple ways to suit your organization’s needs.
Key features of SAP S/4HANA Finance include:
- Unified real-time data model for storing all finance-related information
- Enhanced financial closing capability
- Centralization of account payables and account receivables
- Predictive accounting
- Embedded analytics
Key Considerations for SAPinsiders
Start thinking about your SAP S/4HANA Finance journey now. In 2027, SAP expects to cease all new development for the core ERP and sunset support, requiring organizations to transition to S/4HANA Finance. Organizations that have yet to make the move to SAP S/4HANA Finance need to begin planning and develop a viable roadmap or risk falling behind their peers.
Reduce compliance risks by properly archiving financial information prior to SAP S/4HANA Finance transition. The size of your financial database directly impacts both the complexity and cost, which often leads to long timelines for moving everything over as well potential compliance risks that need addressing before they can be done. Achieve a high level of data protection by archiving critical financial information before it impacts performance, cost, or availability. Evaluate requirements for data cleanup to transfer historical data securely.
Leverage Central Finance in transition to SAP S/4HANA Finance as an opportunity to optimize core finance functions.Consolidating data from multiple sources and creating a single summary of the information is difficult. Central Finance can make this process easier, as it simplifies everything into one easily accessible place for greater visibility. Organizations can empower SAP S/4HANA Finance modules, applications, and extensions end-to-end with more accessible financial information.
127 results
Demystifying the Ledger, Currency Setup, and Currency Conversion in SAP S/4HANA Finance 1610Feb 27, 2017 — See how the ledger setup, currency setup, and foreign currency valuation features have evolved with SAP S/4HANA Finance 1610. This will help you evaluate if the new features can be used by your company. Key Concept SAP S/4HANA Finance 1610 offers a new feature called a simulation extension ledger. The simulation ledger is a category […]
30 minute read
How to Boost Profitability Performance by over 10X on SAP HANAOct 22, 2020 — Learn how organizations can leverage their investment in SAP to expedite profitability analysis, harness granular data, and gain greater insights into results. Learn how other SAP customers have moved their profitability modeling & analysis into the cloud with a trusted, SAP centric solution. CCH Tagetik, a certified 'powered by SAP HANA' solution, goes beyond basic integration and offers the ultimate in data processing performance. It enables you to explore profitability down to the most granular level. With financial and operational data centralized and best-in-class data exploration tools, you can drill into data across unlimited dimensions to see how operational costs impact profitability in real-time. Highlights of this session include:
- A live product demonstration on building, running and analyzing profitability rules as a business user
- How CCH Tagetik’s built-in financial intelligence runs natively on SAP HANA
- An overview of how one large manufacturing company moved to the cloud and boosted profitability performance by over 10x
1 minute read
Strategic Versus Standard Financial Planning in Healthcare Using SAP BPCAug 24, 2018 — Building a standard financial planning, budgeting, and forecast model in healthcare presents a daunting challenge because the key performance indicators (KPIs) are unique to each organization and the market conditions are ever changing. The KPIs for a cancer specialty research center may be quite different from those of a group of family medicine practitioners or […]
8 minute read
Unearth the hidden secrets of parallel currencies in SAP ERP FinancialsMay 12, 2021 — Functional currency. Group currency. Hard currency. Index currency. Controlling area currency. Ledger currency. Global currency. Add to these the complexities associated with parallel valuations — such as legal valuation and group valuation — and it is easy to see why currencies are one of the most misunderstood (but also most powerful) features of SAP ERP Financials. Attend this session to uncover the hidden secrets of parallel currencies and gives you a toolbox of tactics and workarounds. By attending, you will learn:
- How to fully exploit the most underutilized functionality of parallel currencies, including how to properly configure group currencies in ERP Financial modules as well as Universal Journal in SAP S/4HANA Finance
- How to plan for SAP General Ledger and SAP S/4HANA Finance’s impact on parallel currencies
- Step-by-step guidance on managing a currency conversion project in a live SAP system, including how to define the scope, frame out your methodology, and execute the strategy
1 minute read
SAP S/4HANA Finance 1610Oct 11, 2018 — SAP S/4HANA Finance 1610 provides users with the flexibility of using two main currencies plus eight freely definable currencies. The translation of the user-defined currencies, whether real time or not, is based on the currency configuration completed after executing transaction code FINSC_LEDGER. The eight freely definable currencies allowed by SAP S/4HANA Finance 1610 are available in all ledgers (leading, non-leading, and extension), but they are not available in the material ledger or Asset Accounting (FI-AA). These currency types still follow the traditional three-currency (document, local, and group) setup as in SAP ERP Central Component (SAP ECC).
This article describes the impact on currency from these five processes:
- Currency adjustment postings
- Business application programming interface (BAPI) functions
- Parking
- Foreign exchange (FX) valuation
- Reporting
10 minute read
Gain Insight and Take ActionJan 1, 2016 —
In a highly connected business-to-business (B2B) digital economy that values visibility and immediacy in the movement of goods and services along the extended supply chain, finance organizations need to play a central role in a procure-to-pay (P2P) value chain that connects buyers, suppliers, and even value-added partners such as banking institutions into a central hub. This article explores the various components that constitute network-centric finance – including the Ariba Network and SAP S/4HANA Finance – that together help to solidify an end-to-end P2P value chain.
6 minute read
Accelerate Your Finance Shared Services Transformation and Centralized ReportingJul 16, 2018 — New features have been introduced in SAP S/4HANA 1709 that enable enterprises to leverage the benefits of shared services for certain financial processes along with added reporting flexibilities. In this blog, I provide a quick overview of the innovations in SAP S/4HANA 1709 along with some key considerations and limitations while implementing them. I focus […]
13 minute read
A Next-Generation Finance Platform at Carter’sDec 19, 2016 —
Carter’s, Inc., whose business includes the well-known OshKosh B’gosh brand, is the leading brand of clothing items for children in the US. With merchandise sold in more than 1,000 company-owned stores, as well as in most large retail department stores and online, Carter’s has hundreds of thousands of transactions touching its financial systems every day ― a network of systems with manual, paper-based processes that could no longer keep pace with growth and an increasingly digital economy. Learn how Carter’s modernized its financial processes with SAP S/4HANA Finance and adopted best practices to improve efficiency and gain greater visibility into its financial operations.
9 minute read
How Finance Departments can Benefit by Moving from SAP ECC to SAP S/4HANAJan 20, 2021 — Although SAP S/4HANA has been available for over five years and been deployed at thousands of customer sites, not everyone is aware of all the potential benefits that it brings to finance departments that are currently using SAP ECC. There is much to learn and many questions to be answered. Attend this session for an easy-to-understand primer covering everything finance needs to know to make the transition. Topics include:
- What SAP S/4HANA is
- How it differs from SAP ECC
- The various options that organizations have when moving to SAP S/4HANA
1 minute read
SAP S/4HANA Finance and Central Finance: State of the Market 2022 ResearchMay 23, 2022 — As the operating environment grows more complex, it becomes even more important to have a clear and well-defined strategy for finance and accounting innovation. Our research shows that finance and accounting teams are accelerating their embrace of innovation. We found implementation increased across all technologies that support finance and accounting strategy, relative to our 2021 […]
1 minute read