SAP S/4HANA Finance
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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.
109 results
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- SAP S/4HANA Finance
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How to Boost Profitability Performance by over 10X on SAP HANA
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…
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Penn State University Re-Imagines Business Processes and Financial System with SAP S/4HANA
Reading time: 5 mins
Relying on decades-old technology can cost institutions time, money, and valuable manpower. The importance of a digital transformation strategy is expected to accelerate as universities look to adapt to the ongoing pandemic. In this case study, Penn State University serves as an example of how important digital transformation projects can be to an institution of…
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Answers to Burning Questions on SAP S/4HANA Finance, Central Finance, Universal Journal, and More
Reading time: 5 mins
Read this recap of a live interactive Q&A from the SAPinsider 2020 conference where SAP finance expert Paul Ovigele, President and Founder of ERPfixers, shares his insights on what finance departments need to know about the new capabilities delivered with SAP S/4HANA.
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Business Partner Creation for Intercompany Customers and Vendors
Reading time: 5 mins
This article provides step-by-step instructions for setting up Intercompany Vendors and Intercompany Customers using the required Business Partner object in SAP for new SAP S/4HANA customers. Detailed screen shots and Best Practice proposed naming conventions are provided. By following the recommended approach, you will benefit when building the foundation for your cross-company scenarios with a(n):…
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How Zurich used BlackLine to move to SAP S/4HANA
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Zurich North America Uses BlackLine Solutions for Automation & Control During Transformation Find other insightful content from BlackLine on their Vendor Showcase
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4 Ways BlackLine Enables Successful SAP S/4Hana Implementations
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Accounting and finance teams credit BlackLine with adding value throughout the transition to SAP S/4HANA. Find other insightful content from BlackLine on their Vendor Showcase
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Evolve Your Planning and Reporting with CCH Tagetik on SAP HANA
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Managing a business on a legacy platform is challenging. Learn the top three warning signs to look out for, and learn how to save time, save money, and how to lower your risk. Find other insightful content from Wolters Kluwer | CCH Tagetik on their Vendor Showcase
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- SAP S/4HANA Finance
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SAP S/4HANA Finance: State of the Market Benchmark Report
Reading time: 1 mins
Finance departments today face increasing demands to deliver real-time reporting and analysis from a broader array of sources on top of fulfilling their historical responsibilities. Whether this involves integrating data from multiple systems into one centralized platform in order to conduct that reporting, or streamlining operations to free up resources to perform these new tasks,…...…
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- SAP S/4HANA Finance
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Your Guide to Generating Predictable Revenue Streams with SAP S/4HANA
Reading time: 6 mins
This article will shed some light on subscription order management (SOM), which has been folded into the SAP S/4HANA digital core. You’ll learn how SOM can empower organizations to evolve their business model into one capable of selling products-as-a-service to generate new and predictable revenue streams. This content is for SAPinsider Monthly Subscription, SAPinsider Annual…
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Revolutionizing and Modernizing your Financial Processes with SAP S/4HANA Finance
Reading time: 2 mins
A former accountant himself, Paul Ovigele, SAP Consultant and Founder and CEO of ERPfixers, understands this group’s mindset. “You can’t just hand an accountant a shiny new thing like SAP S/4HANA Finance and expect them to get excited. They want to get to the bottom of exactly what the benefits are and whether the benefits…
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