Introduction
SAP S4 HANA is a next-generation ERP solution that may assist organizations in becoming intelligent enterprises. It is meant to include the prominent aspects of previous SAP consolidation solutions and is accessible for all deployment situations (on-premise, single, and multi-tenant). We will explore a comprehensive reference to the feature and benefits you need to know about SAP S/4HANA. It will help you to understand the ERP in detail. Alternatively, you can move forward with the SAP S4 HANA Certification, which will validate your competency in this domain and make you stand out from your peers.
Features of SAP S4 HANA
List down below are the significant features of SAP S4 HANA:
● Advanced Financial Closing
It helps users to plan, perform, monitor, and evaluate financial processes for enterprise organizations. It also promotes financial recordkeeping with more accuracy and reduced resource usage.
● Improved Quality Management
Using SAP S/4 HANA, customers may undertake quality management tasks more efficiently upon receiving goods.
● IFRS 15 Standard for Better Time-Based Revenue Recognition
Depending upon IFRS 15, SAP S/4 HANA enables customers to handle multiple contract arrangements in relation to contract reporting, accounting, and invoicing.
● Transportation Management
Starting with the 111 release, customers may examine their transportation data and manually calculate expenses. Now, you may calculate these fees with the help of the freight agreement created by the purchasing organization, the carrier, and the firm. This makes it possible to break down the freight costs based on the delivery items separately.
● Service Management
This SAP S4 HANA feature is in charge of synchronizing service confirmations through API’s with external service orders. As a result, the organization may perform field services based on stored data and external systems.
● Live Connection with SAP Analytics Cloud
It maintains a live connection with SAP S/4 HANA to guarantee fast and frequent distribution of information to all stakeholders. While the data is still in the source system, current models may use it to analyze and display data without having to recreate it on their end.
● Integration of Digital Boardroom
Although digital boardroom is an add-on feature of SAP Analytics Cloud, it has never lost its importance for organizations. It allows the organization to convert static presentations into interactive sessions. This results in better outcomes from live data.
● No duplication functionality
There is no duplication of functionality since SAP S/4 HANA uses the most recent General Ledger Accounting Architecture, which incorporates Extended Warehouse Management, a crucial part of its core system.
● SAP Cloud LoB replaces ECC functionality
It has reduced human labor and taken on several duties, such as using SAP Success Factors instead of human capital management.
● Stand-Alone Solutions
SAP S/4 HANA's Extended Warehouse Management and Transportation Management are two core elements that foster the stand-alone idea and increase its ability to make its own choices.
Benefits of SAP S4 HANA
SAP S4 HANA comprises multiple benefits, such as flexibility, reduced costs, and faster analytics. All of this is possible due to the in-memory database. Let us now go into detail about the significant benefits of this technology:
● Simplification
SAP S/4HANA simplifies the IT landscape management and administration. In fact, due to these primary aspects, SAP has incorporated them into its ECC application framework. By using the significant abilities of its in-memory database, SAP S/4HANA allows the centralization of hardware and network resources and acts as the digital core for business process simplification.
● Cost Effectiveness
Adopting SAP S4 HANA is a wise decision in terms of cost efficiency. You will have the opportunity to consolidate all the analytical and transactional capabilities of several systems into a single spot. This improves the decision-making process.
● Innovation
SAP S4 HANA lays the groundwork for future innovation. Because technology is continuously advancing, simply 'keeping up' is no longer required. However, businesses must keep ahead of the curve and make future-proof decisions. Also, S4 HANA applications make use of speed, context, and data accessibility.
● Enhances Performance and speed
Based on live data, SAP S4 HANA enhances performance and speed by allowing you to plan, execute, and produce reports and analytics. It also triggers period close and provides superior forecasts. In addition, S$ HANA allows your company to deliver better service for customer-focused apps.
Conclusion
Hopefully, you may find this article informative. We have compiled the topmost feature and benefits of SAP S4 HANA. Thus, by learning this technology and getting familiar with this program, never-ending opportunities await you. So, if you want to make a career out of learning this technology, we suggest you enroll for the SAP S4 HANA Online Course from the reputed institute.
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