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SAP Simple Finance Online Tutorials | Step Ahead With S/4HANA Finance

SAP Simple Finance Adding Value to the Enterprise
After the release of SAP S/4 HANA Simple Finance, there has been great interest in the new, next generation finance solution of SAP. If an organization wants to simplify their finance function, then it is best to get the HANA capabilities of SAP. SAP S/4 HANA Simple Finance is a faster, smarter and simplest implementation strategy. Having running simple, organizations tend to use simple finance 
hence the demand for SAP Simple Finance training has risen.
  • 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 IT complexity.
  • Minimization of cost for manual report generation and data reconciliation.
  • Minimization of operational risks resulting from fraud and several other non compliance activities 

Simple finance is the future of finance
Today sees SAP customers tapping into the vast advantages of putting an end to the conventional limitations of the database architecture. The in-memory technology, being the pride and joy of the SAP enterprise, has great potential, yet does not adequately or completely address persistent data aggregates, SAP HANA (Learn what HANA offers to finance in SAP HANA Training program) has seen to still rely on aggregate data views. Simply put, the value addition which backs Simple Finance is the removal of conventional aggregate limitations which facilitates financial and controlling reporting to be consolidated into a single view. Until recently reconciliation means accessing of several tables like the FI tables for the General Ledger (GL) data or CO tables for profitability and even cost centre data- all this now comes as built-in. The unique value proposition of SAP Simple Finance which makes it stand out from the SAP Business Suite powered by SAP HANA is that it addresses redundancy along the stack with regard to data mining.
SAP simple finance impressively looks into and resolves the redundancy of data mining in all its dimensions, thereby enabling info and insight at the immediate access of the user or customer. All this is also being done in seconds. This is the key to comprehend the power and simplicity that SAP Simple Finance brings in. One has to remember that the issue here is not just the use of SAP S/4HANA as a highly powerful database to go through vast amounts of financial data at astonishing speeds.  The focus here is to accomplish real-time enterprise-wide finance via SAP HANA by even merging other data and applications which are non-SAP into SAP Simple Finance Feature Subsets. This has very real implications – for instance if an enterprise is smack in the centre of a 10 year infrastructure project plan can still accomplish a live SAP HANA reporting environment without needing to remove an existing project  plan and having to start from the ground up.
What’s more, the functionality such as Central Journal is a big component of the manner in which financial data is merged in SAP S/4HANA Simple Finance. This aids in new SAP customers comprehending the value of moving to this new solutions, whereby they can gain from linked data along with dash boarding, additional reporting, and even modeling functionalities. SAP Simple Finance eliminates the entire need for information silos by going to the line-item level as the single source of truth for Payables, GL, Receivables, Revenue and cost, and even fixed asset data. Prerequisites for SAP Simple Finance are simple as expected, SAP HANA and enhancement package 7 for SAP ERP 6.0. This applies to both net-new and pre-existing SAP Business Suite powered by SAP HANA users.
Step Ahead with simple finance
It is not common in the current market scenario for customers to have a vested interest in finding how efficiencies in their monthly close can be optimized. It also raises questions such as how to minimize redundancy or shorten closing cycles. SAP Simple Finance steps in at this juncture to answer a lot of similar questions, and it is done in a manner that makes it easy to establish a business case scenario and even show an ROI. But a lot more is at stake here than just the speeding up of processes, it is also to transform finance into a tool that can be used as a strategic partner to the enterprise.
The tremendous potential here is with respect to real-time reporting, dynamic and integrated forecasting, along with accelerated analytics. This means finance teams will not only expend time in collection and analysis of data, or manually altering spreadsheets. Alternatively they can merge with external and internal stakeholders to model future performance and construction scenarios based on possible external events or even the actions taken by market competitors. Finance teams therefore will gain from enhanced agility, adaptive capacities to rally around brand new challenges and a whole lot more. The availability of real-time dashboard reporting coupled with extensive “what-if” scenario reporting, enables organizations to plan resource allocation and usage enabling marked resilience, even in the face of major foreseeable changes. This real time reporting accounts for effects of environmental or behavioral changes in processes, such as turnover, system failure, or capacity peaks.
SAP Simple finance planning
Planning is an excellent instance of SAP Simple Finance dynamically alters finance function and also simultaneously makes way for innovative opportunities. In several finance enterprises, planning turns out to have more complexities than is actually needed. This is because of siloed approaches that are used in conventional data structures. There will be a cost plan, sales plan and even a profit and loss or P&L plan and the list goes on. But it is worth noting that such plans are not really different as they exhibit granularities inherent within a P&L statement.
SAP Simple Finance here enables the planning on the above mentioned granularities present at the line-item level. Integration of SAP Business Planning and Consolidation of the front end with the SAP ERP back-end in SAP Simple Finance is really useful for SAP users. This is because users will be liberated from the hassle of resorting to redundant planning which is based on business warehousing architecture.
Data being accessible in real time across the whole range of financial applications enables users to ask unique questions which might be outside the scope of prepared reports. Such granular data structure is central to revolutionary predictive models which may otherwise not be possible. Without this, enterprises would have to deal with close process that drags out to almost five days, along with several dozen analysts data mining from a plethora of disparate sources.
SAP Simple Finance is known to cut down on complexity in mostly two ways. The first way is already stated above being placed at the process level. The second is a detailed simplification in system design. Customization can be achieved at the line-item level, which results in an added field being available in all the reports from the new single source. This, in turn, signifies that upgrades or re-implementations are unnecessary. SAP Simple Finance can basically decrease the visibility of system deficiencies or an application’s structural issues with flexible and adaptable on-boarding, supporting and enabling continual change in the system itself along with supporting process change.

SAP Simple Finance revolutionizes reporting by offering real-time updated integration with the transactional system. It is no longer required to have separate reporting database for database performance purpose. Journal based real-time reporting is touted to be the new standard with Simple Finance enabling the whole spectrum of integrated financial reporting.

SAP Simple Finance offers a bright future for any individual or organization that has the vision to build its Finance architecture around it. If you are planning to take up a certification in SAP Simple Finance, then, there wouldn’t be a better time than now!
SAP Trainings Online is a podium which gives you complete training on simple finance. SAP training includes SAP accounting powered by SAP HANA and fundamentals of SAP Cash Management and SAP IBP training for Finance and additional innovations in the areas of Treasury and Financial Risk Management, Collaborative Finance Operations and more. Detailed concepts of risk management can be learnt from SAP TRM training by us
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