Manage your Finance with SAP S/4 HANA Finance Solution

Abstract

SAP S/4 HANA inherits capabilities of SAP HANA. SAP HANA provides native in-memory engines that can process any types of data in real time. It can support both Online Transaction Processing and Online Analytical Processing requirements and is built to run on high-end hardware.

The data model for Financial Accounting was redeveloped and the application code for Finance was completely rewritten on simplified data model. The rewritten application is called SAP S/4HANA Finance, formerly known as Simple Finance. Other applications like sales, procurement, and inventory management etc, are also simplified. This new solution also helps to extract meaningful reports across all lines of business (MIS Reports), provide greater opportunities for innovation, Predictive Analysis, Real time decision support, automatic reconciliation of Financial Accounting with Cost Accounting and Fixed Asset Accounting and Material Ledger, faster month end and year end closing, Group Reporting (Financial Consolidation), Transfer Prices, COGS and Variance Split, better costing integration with production, etc.