Before you join SAP FICO training, ask these questions

SAP FICO Stands for FI (Financial Accounting) and CO (Controlling).SAP is the important module of ERP and both FI and CO modules stores the financial transactions data.

Here are these important questions that should be asked before joining the SAP FICO training: 

1. How is the career as SAP Functional Consultant?

SAP FICO is the pillar of SAP as this is an excellent application for finance- related function and is one of the most popular products. This application automatically translates into a good and steady requirement for FICO professionals.

For a person just starting his or her career, the learning curve will be steep and one should grasp as much as possible and focus should be on knowledge-building in the different scenarios and transactional flows.

2. How much do SAP FICO consultants make a year?

It completely depends on the following key factors such as:

• Company/Employer Profile
• Consultants with prior domain work experience are paid better than those who join the company as a fresher.

3. What is the scope of the SAP FICO module?

SAP FICO stands Financial Accounting and Costing is the highest paid salary with the very good growth rate. Many companies are looking for certified SAP FICO Professionals. But it is not that easy to get a job in SAP FICO as the competition is very high. The job of SAP FICO consultant symbolizes one of the most lucrative career paths in the market today.

4. What are the future career opportunities as an SAP FICO Consultant?

As the market is growing, more and more industries are implementing SAP systems. In the next five years, there will be a huge demand fromna financial perspective. There is very few certified SAP FICO Consultants with the complete subject knowledge in the market.

5. What is the average salary of an SAP FICO Consultant?

The average salary of a certified SAP FICO consultant is $107,000.

6. What are the key skills required for a successful SAP Consultant?

The popular skills of a successful SAP Consultant are:

• SAP Sales and Distribution
• SAP Material Management
• SAP ABAP
• SAP FI
• SAP Financial Accounting and Controlling

7. Which application is more widely used and has a better scope?

SAP FICO and Oracle financials are competing with each other in a particular field. But most of the manufacturing companies prefer SAP FICO.

8. Is SAP FI is good for fresher without any Financial Accounting  background?

No, FI is a complex and critical module where the system needs to fulfill business, statutory, legal and mandatory requirements. You have to put a lot of effort to understand the terminologies and Financial Accounting.

9. Is SAP FICO useful?

SAP FICO is one of the SAP core modules and is deeply integrated with other modules such as SAP Sales and Distribution, Sales Material Management, SAP Production Planning and so on.

10. What are the different types of industries that implement SAP FICO?

SAP FICO is one of the modules which deals with finance-related solutions of an organization. Most of companies from different sectors such as Automobile, Oil and Gas, Consumer Products, Engineering, Construction, Operations, Healthcare, Industrial Machinery and Components, Telecommunications, Chemicals, Utility, Government Sector and so on.

These are the related articles that you can check

1. Five Steps to Understand Product Costing in SAP FICO
2. Know Everything about SAP FICO
3. How to Become a SAP FICO Consultant?
4. SAP FICO Roles and Responsibilities
5. Our trainer Sagar for SAP FICO was recently invited as a Guest Speaker for SAP User Group at University of Texas, Dallas, School of Management this past Wednesday