SAP S/4HANA Finance 2020 – Know What’s New

SAP S/4HANA Finance 2020 Release

SAP Launched S/4HANA 2020, as the latest version, hence we get SAP S/4HANA Finance 2020. Launched in Oct 2020, it has brought better features that are useful not only for the consultants and companies but for the users too. It is focused on Digital-Age user experience (UX) and next-gen processes.

The new version brings better automation by enhancing matching learning and robotics capabilities.

What is SAP S/4HANA Finance?

SAP Simple Finance is one Business application for Finance that includes –SAP Accounting, SAP Treasury & Cash Management and SAP BPC. SAP introduced S/4HANA Business Suit, which not only includes Finance functions but also the Logistics functions on the HANA platform. After the successful execution of version 1909, SAP launched S/4HANA Finance 2020.

Three Main innovations in S/4HANA Finance 2020

SAP releases the most comprehensive and intelligent ERP as SAP S/4 HANA 2020. If we see the big picture, the list of changes is extensive. However, in the line of Finance Business, the latest release brings these changes majorly.

Treasury Management
Finance Accounting
Revenue Accounting & Reporting

Components Updated in SAP S/4HANA Finance 2020

Financial Planning and Analysis
Accounts Receivables
Revenue Accounting and Reporting
Treasury Management
Contract Accounting and Invoicing
Group Reporting
Central Finance

Who are in the Focus?

It’s the Users Of course.

With this new version, SAP has mainly focused on Digital-Age user-experience (UX) and next-gen processes. The new version brings better automation by enhancing matching learning and robotics capabilities. Hence Users get a friendlier experience and faster response.

How it impacts Businesses Overall?

There are already many improvements inculcated in receivables management, Analytics, Universal Allocation, contract and lease management & more. With SAP S4 HANA Finance 2020 launch, we expect better Financial Accounting, Treasury Management and the ability to work in the area of Revenue Accounting & Reporting. This would help businesses in better financial functioning and 360-degree workflow.

S/4HANA Finance Add-On’s by SAP

Providing Technical Overview of the Implementation Prerequisites Describe the Architecture of the Simple Finance Analyzing the universal Journal in SAP Providing an overview of Reporting Options Introduction to SAP Fiori.

SAP S/4HANA Finance 2020 Training

As an SAP aspirant, you must learn the latest version of the S/4HANA modules. This helps you to get faster growth in your career and get better opportunities. Being an SAP S/4HANA Finance consultant, the key topics that you must know are:-