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.
Key Benefits of S/4HANA Finance
- easier support of financial and management accounting processes,
- posting automation of financial documents,
- comprehensive support and recording of financial operations,
- simpler management of bank accounts,
- faster closure of accounting periods,
- simplification of data structures, data from other modules stored in a single table (ACDOCA),
- creating simulations in case of planned organizational changes, and
- possibility to adapt the system to the changing financial and accounting law.
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- SAP S/4HANA Finance Deployment Options
- There are multiple avenues through which SAP S/4HANA Finance can be deployed.
- On-Premise - The conventional forms of internal IT infrastructure are included in an on-premise deployment. An instance of SAP S/4HANA Finance that is physically hosted on a business property is described by this deployment model.
- Cloud - For the deployment of SAP S/4HANA Finance, there are two cloud solutions, both of which require external cloud integration. An organisation rents a siloed portion of server space shared with other clients running SAP S/4HANA in a public cloud deployment. When using a private cloud, a business employs a particular server to operate SAP S/4HANA. The customer owns the application in both situations, but all technical infrastructure administration is outsourced.
- Two-Tier (Hybrid) - Both on-premises and cloud installations are used in a two-tier or hybrid deployment. This could be done for various reasons, including checking if both instances are feasible or hosting an on-premise deployment at the main office while using a cloud deployment in a satellite office.
