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What is the difference between SAP FICO and Simple finance?

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SAP S/4HANA Finance, that was previously known as SAP simple Finance, is the 1st business application developed for the S/4HANA platform. It is designed to remove traditional barriers between transactional, analytics, and planning systems to provide instant insights and on-the-fly analysis using all levels of financial data. A business decision-maker, for instance, will use SAP S/4HANA Finance to model information and build forecasts of potential choices using real-time financial data from various systems.

SAP Simple finance video:

SAP S/4HANA Finance is aimed toward financial professionals and specialists in all industries, including Chief Financial Officers (CFOs) and others involved in accounting and tax, treasury, financial operations, risk and compliance. The user base ranges from tiny firms to Fortune a hundred enterprises and includes firms around the world.

The main advantage SAP S/4HANA Finance has is process speed combined with integrated choices for the numerous financial functions, like financial accounting and management accounting. Because of this, SAP S/4HANA Finance permits for a much quicker reconciliation of monetary processes like the quarterly shut, and provides one supply of monetary truth for the organization as a whole, according to SAP.

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