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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.
128 results
What You Need to Know About Material Ledger in SAP S/4HANAOct 1, 2024 — Click Here to View Session Deck With Material Ledger a required part of SAP S/4HANA Finance, walk through the design considerations associated with a migration, learn to configure the Universal Journal for transfer pricing, and learn about the changes that have been made to actual costing with SAP S/4HANA Finance. You will: Understand the Difference […]
1 minute read
Top-7 Finance Features you need to activate when you migrate from ECC to SAP S/4HANAOct 1, 2024 — Click Here to View Session Deck You have been on ECC for all these years and now on the way to transitioning to SAP S4/HANA. Attend this session to learn about the Top-7 major enhancements you are about to collect when you move to S/4HANA Finance. Based on philosophy of delivering superior enhancements with simplifications, […]
1 minute read
30 Things All SAP S/4HANA Finance End Users Need to KnowOct 1, 2024 — Click Here to View Session Deck This back-to-basics session identifies the most important areas to address when training all end users on SAP functionality, including analysis, display, environment, and reporting. Take home 30 tips that will accelerate the end-user learning curve and reduce calls to the help desk. You will Learn how to help users […]
1 minute read
Proven Techniques to Optimize the Accounts Receivables ProcessSep 27, 2024 — Click Here to View Session Deck This session walks through four essential practices to increase the efficiency of accounts receivables management, including insight into: What’s new with SAP S/4HANA, AI-powered cash application, including the advanced rules engine, with SAP Cash Application software, lessons to streamline various accounts receivables processes, from tracing open items to checking […]
1 minute read
Understanding the many applications of “Reconciliation” – How SAP Financial Close Solutions by BlackLine Complement SAP S/4HANAJul 29, 2024 — If you’ve explored the capabilities of SAP S/4HANA you’ve probably heard that one of its benefits is the elimination of reconciliations. If you’ve seen this and you’re also evaluating SAP Solution Extensions by BlackLine for the financial close, you may be wondering whether companies running SAP S/4HANA would need SAP Financial Close Solutions by BlackLine.
3 minute read
SAP & BlackLine: Improving the End-To-End Financial Close Process, TogetherJul 29, 2024 — If you’re running SAP or closing with BlackLine, you may have already heard that BlackLine is an SAP Solution Extension. But you may be wondering, what exactly is a Solution Extension? How do SAP and BlackLine work together?
3 minute read
How Avantor Transformed its Finance Function with SAP S/4HANA Central Finance and Group ReportingJul 23, 2024 — The advent of SAP S/4HANA Finance and Central Finance has provided finance and accounting teams with new functionality that can help customers significantly improve their finance and accounting functions. The key to unlocking this potential is understanding these capabilities and how to enable them in the most effective way possible. In this interactive webinar you will go inside Avantor’s unique story and capture lessons learned from their journey. You will:
Understand why Avantor decided to deploy SAP S/4HANA Central Finance and Group Reporting capabilities and what they hoped to gain from this investment.
Learn how they leveraged SAP Master Data Governance along with SAP S/4HANA Central Finance to enable a new and more powerful way to do segment reporting.
Walk through their strategy for implementing Group Reporting, SAP Analytics Cloud (SAC), as well as secondary database for reporting including key updated they made to their GRC toolsets.
See how these implementation strategies created a strong foundation for Avantor to streamline business processes and take advantage of future improvement opportunities.
1 minute read
Transformation with SAP S/4HANA for Central FinanceMay 29, 2024 — Matthias highlighted three key strategies: adhering to standard processes to avoid unnecessary complexity, effectively communicating benefits and providing training to ensure user acceptance, and leveraging integrated reporting capabilities for continuous process improvement. By collecting detailed process data, organizations can optimize workflows with AI-driven self-optimizing processes. Matthias also emphasized the importance of sharing progress and successes with the user community to boost motivation and collaboration. Mallik concluded by acknowledging the critical role of OpenText in finance transformation projects and thanked Matthias for his insights. This discussion underscores the ongoing journey of enterprise transformation with SAP S/4HANA, showcasing OpenText's significant impact on finance operations and process efficiency. Discover more about optimizing your SAP S/4HANA Central Finance projects with OpenText.v
1 minute read
Accelerating Finance Functions in the Life Sciences Sector with SAP S/4HANAMar 28, 2024 — With the continuously growing demand for speed and efficiency in service provision, many companies are seeking to transform their legacy systems. This demand affects all industries, regardless of the purpose of the service. Especially in the case of the life sciences sector where companies are delivering critical life-saving equipment and services, the delays caused by […]
2 minute read