SAP S/4HANA Finance
SAP S/4HANA Finance is SAP’s flagship financials solution and successor to SAP ERP Financials. First released in 2014, it boasts many process improvements for the financials world, including the introduction of a single source of financial truth, real-time financial close, and predictive accounting. It was developed to run off the SAP HANA platform and primarily utilises the SAP Fiori user interface.
Innovative features of the first release of SAP S/4HANA Finance included the Universal Journal that provided a single place to store both financial and management accounting documents with relevant details. This led to better reporting, easier access to KPIs utilized by managers, and cockpits tailored to specific end users to help them make more informed decisions.
Since then, SAP has continuously built upon the foundation of SAP S/4HANA Finance. Major yearly releases have added new, innovative functionality to the solution, and as of 2019, SAP S/4HANA’s latest features include improved financial closing capability, centralized payables and receivables, predictive accounting, and more embedded analytics.