All you wanted to know about SAP S/4HANA Simple Finance

Evolving from huge successful R/3 architecture to S/4, SAP all in one business suite that runs on HANA is the new age thing. Capitalizing on Finance Management and critical Accounting needs, SAP S/4HANA– Simple Finance promises to revolutionize the way enterprises have perceived and analyzed their accounts. Pitching it as the ERP Finance for the digital era, S/4 could be a great bet for forecasting financial turnarounds.

Some key advantages that the system garners include-

• Real time revenue and costing analysis
• Accurate comparison of dimensions, simulations and predictions
• Margin improvisation and optimal cash flow
• Forecasting liquidity and other significant functions

How to establish a career in Simple Finance?

It has never been a cakewalk to develop a career in SAP. S/4 being a new technology is very demanding in terms of basic skill sets blended with staunch accounting and finance penchant.

If you are planning to give it a shot, do a quick run-through over the helpful prerequisites-

• Excellent working knowledge of RDBMS concepts
• Finance & Accounting knowledge- basic level
• Deep programming expertise in Open SQL
• Knowledge of SAP HANA is a big plus
• Basic understanding of cloud

Experienced SAP Consultants can benefit from the working expertise they have acquired over the years. However, the ones with Finance background will definitely have an edge over others. Professionals from the following background could benefit-

• SAP FICO
• SAP BW, Business Object with Finance specialization
• Senior Chartered Accountants
• Postgraduates in Finance including MBAs

What should be the significant inclusions in the course?

S/4 Simple Finance is an extensive subject and aims at nourishing the candidate skill set across on premise and cloud platforms. This makes it imperative for all candidates to be prepared for the end user expectations across devices.

Besides an introduction to SAP HANA and Simple Finance, the syllabus should deeply cover the following areas-

• SAP Simple Finance On-Premise- Configurations and Migration
• SAP Accounting including General Ledger Accounting, Asset and Management Accounting
• Cash Flow Management- Probably the most critical part. Includes technical understanding and setup of Bank Account Management and Cash Operations

Checkout the Article-SAP HANA, S/4HANA, and S/4HANA Finance in a Nutshell

Selecting the Right Institute

As discussed, S/4 Simple Finance is a new technology and immature institutions will not be able to complement critical designing and problem solving. Thus, only an institute with staunch SAP background can commence the task successfully.

The institute you choose should adhere to the following provisions-

• Instructors with at least 10 years of experience in SAP Finance
• Not just classroom teaching- blogs, research papers, case studies, real-time project implementation content, etc should be regularly delivered
• Long duration course-Simple Finance can’t be completed in fast track batches. Needs detailed learning
• E-learning could be a great move if the institute hosts such a model.

Before plunging at enrollment, it is wise to execute a thorough run through the dos and don’ts.

Conclusion

Got any questions for us? Please mention it in the comments section and we will return it to you. At ZaranTech we offer a self-paced online training program for SAP S/4 HANA, Workday related courses. Skyrocket your career by learning from the best!
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