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Introduction to Simple Finance | Reasons to Learn SAP S/4 HANA Finance

Introduction to SAP Simple Finance
Even though Simple Finance sounds at the outset like a contradiction in semantics alone, SAP claims otherwise. SAP has built its product with a lot of well-thought out feature frameworks that brings about simple-to-use features along with real-time SAP HANA-powered (know HANA offerings from SAP HANA training) and Cloud-based functionalities which are all pervasive in the IT domain today.
What is SAP simple finance?
SAP Simple Finance is the new ERP Financial Solutions portfolio which is built for SAP HANA enabling actual real-time analytics at the most granular level across various financial dimensions. Organizations are currently often faced with the dilemma of how to adapt rapidly to growing complexities in external condition and how to adapt to fresh technology to maintain a competitive edge in the market.
73% of CFOs go on to say that finance executives in turn say long term strategic planning is the hottest area of fresh demand. Along with these two facts, it also goes on to say that around 58% of CFOs in turn say that the enterprise’ line-of-business managers find difficulty in utilizing finance information systems to recognize and comprehend the data needed to make effective decisions.
In essence, ERPs have ended up being complex with an insufficient level of dynamic ability to fulfil real-time information requirements that CFOs presently need. There are major challenges with processes such as real-time treasury, month-end closing, financial risk management, financial consolidation with subsidiaries, real-time financial analysis and even a response to the ones already due. Learn how to manage financial activities from SAP Simple finance training by SAP Trainings Online which is a unique platform of SAP training offering with best quality teaching and practical methodologies.
With the innovative approach to resolve present issues of financial departments and CFOs, SAP aims its capabilities in attacking the inherent complexity in Finance by reconstructing its worldwide, holistic solution to tap into the vast feature reserves of SAP HANA.
Areas of SAP simple finance:
  • Financial planning and analysis
  • Accounting and financial close
  • Treasury and financial risk management
  • Collaborative finance operations
  • Enterprise risk and compliance management
How SAP simple finance is build on SAP HANA
SAP Simple Finance is the brand new version of SAP ERP Financial and Controlling, rebuilt based on SAP HANA paradigms in order to take complete advantage of the possibilities provided by SAP HANA, and to eliminate any limitations or constraints emerging from the disk-based database paradigms, which are no longer applicable.
In these terms, SAP Simple Finance has generated a fully new data model for the SAP Financial modules,where all sub-totals, aggregates, and consolidation tables have been removed.The wholly new financial data model will include the information related to modules of Finance, Controlling and Profitability Analysis (CO-PA).
The SAP Simple Finance user interface is touted to be SAP Fiori, (see here for SAP FIORI concepts) enabling personalized, advanced and consistent user experience across the applications and for every device such as a desktop, tablet, or mobile
Simple Finance Offerings
  • Facilitation of high-speed actual real-time analytics at the most granular level across every financial dimension without any constraints.
  • A consolidated view of real-time harmonized or completely integrated financial and management accounting data for all existing subsidiaries, to aid in ensuring enterprise-wide consistency and minimization of reconciliation time and errors.
  • The ability to utilize prediction, simulation, and analysis to assess the financial implications of strategic business options which are all in-built.
  • Optimization of Business Processes which are mostly event-driven processes along with real-time execution.
  • A wide array of On-premise, hybrid, and cloud deployment options, and a simple and non-disruptive migration path

SAP Simple Finance sees FI, CO, and CO-PA line items being stored at identical levels of granularity and are linked on a 1:1 basis. This in turn facilitates a convenient reconciliation along with a harmonized internal and external reporting with drill-down to complete detail across every dimension. Reporting is also known to be no longer limited by application boundaries.
Reasons to learn simple finance
Simplicity: This explains the name of their product for finance solutions being named Simple Finance. The President of SAP Platform Solutions, Steve Lucas has said that Simple Finance offers a major leap into the future of finance departments around the world as it harnesses two essential SAP functionalities. One is the time-tested and market-leading finance solutions that SAP that tailor made to fit the needs of the customer. The second is the real-time nature of in-memory technology that is the hallmark of SAP HANA.
The consolidation of such components enables enterprises to execute mission-critical processes in real-time on SAP Cloud, thereby establishing what can only be described as a new benchmark in the IT industry.
HANA Strength: SAP has over 40 year’s expertise in delivering software which meets global standards, meeting software needs to organizations across the world.
Even though SAP welcomes software partners, it does not subject itself to the decisions of a third-party database vendor such as Oracle (Learn database concepts from Oracle training) which proves to be the case for most financial and related solutions.
Simple finance value proposition – Adding value to the enterprise
  • Superior and enhanced business advice resulting from more relevant and timely insight 
  • Enhanced corporate alignment and agility resulting from direct end user access to insight 
  • Effective management of working capital and financial risks functioning at enhanced levels
  • Lowering of IT complexity
  • Minimization of cost for manual report generation and data reconciliation

Learn more from SAP Trainings Online, Enroll Today with us to start a SAP career.
For more details visit:www.saptrainingsonline.com
Email:contact@saptrainingsonline.com
Contact:India +91 9052775398 USA +13152825809
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