Last Updated on August 14, 2022 by Pradeep
SAP ERP ECC Finance Vs R/3 Finance
To see benefits in Finance in SAP ECC Vs R3, understand their built platform first. Finance SAP ERP Financial Accounting is built on the NetWeaver platform which is the foundation for service-oriented business solutions for deploying financial processes at a faster phase.
Irrespective of the type of business you are in, the SAP ECC is designed to support your financial accounting requirements. Importantly, it is with the idea of giving you a single complete platform to achieve excellence in accounting performance management, financial supply chain and corporate governance.
Industry-Specific Financial Management
SAP ECC vs R/3 in finance provides a comprehensive and robust analytical framework to consolidate and aggregate business information generated in your industry solutions. It may also pertain to your core enterprise processes. Hence, all managers in all operations of your business will now have improved visibility with a single integrated solution.
Performance Management – SAP ECC Vs R3
Additionally, compared to R/3, SAP ECC Finance provides a single solution for the entire life cycle of “Corporate Performance Management” by delivering real-time, personalized measurements. It also provides metrics to improve the business insight and productivity of non-technical users.
Consequently, executives, managers and business workers will now have access to information like business statistics and Key Performance Indicators (KPI) presented in the context of business tasks. This further helps in better insight and faster decision-making.
Concisely, it consists of:-
- Consolidated Financial and statutory reporting
- Planning, budgeting and forecasting
- Strategy management and scorecards
- Risk management
- Financial Analytics
Financial and Management Accounting
SAP ECC also helps companies to comply with global accounting standards (like US GAAP and IFRS). With New GL functionality, you will have the ability to generate financial statements of any dimension of business (unit, Profit Center, geographical location etc). Subsequently, this offers greater flexibility to extend a chart of accounts and allows an easier method of reporting by individual management units and segments. Thus, helps in Financial & Management accounting.
Furthermore, the SAP ECC helps companies reduce the complexity and cost associated with parallel accounting or managing a set of books by region, industry or regulatory reporting statute.
Corporate Governance
With the set of applications & tools, SAP ERP Financials Accounting assists in meeting the specific requirements of today’s financial regulations such as the Sarbanes-Oxley Act.
You now have an intuitive mechanism to collect, document, assess, remediate and attest to internal control processes and safeguards to ensure transparent business activity. Subsequently, by configuring controls and defining rules and tolerance for your business, you can easily customise internal processes for security, reporting and error prevention.
Other than this now you can also document all your internal control processes and make them visible to corporate executives, auditors and regulators.
SAP ECC Vs R3 Financial Supply Chain Management
SAP ECC Finance provides the tools to help you manage your financial supply chain and also the cash-flow cycle more effectively through end-to-end process support. The following gives such process support:-
- Credit Management
- Collection management
- Dispute Management
- In-house Cash Management
- Cash & Liquidity Management
- Bank Relationship
- Treasury & Risk Management Process
Also Read: SAP FICO Vs. SAP S/4HANA Finance
SAP Solution Manager
Solution Manager provides central access to Tools, Methods and Pre-configured Content. Additionally, it supports throughout the life-cycle of solutions from Business Blueprint to Configuration to Support.
The Feature Include the following:-
Implementation/Upgrade of SAP Solutions
- Central access to Project Tools (Project Administration, Business Blueprint Configuration, Test workbench, Group Rollout Templates).
- Central Management of project Information (Roadmap, system landscape, Documentation etc.).
- Enables comparing/synchronizing customizing in several SAP components.
Solution Monitoring
- Central System Administration
- System Landscape Analysis with System Level Reporting
- Real-Time System Monitoring
- Business Process Monitoring
Services and Support
Access to programs/services for monitoring and optimizing system performance and availability to minimize risks.
Service Desk
Solution Support through WorkFlow to create and manage process/Problem messages.
Change Management
Trace and audit system changes and transports through Change Request Management.
Also Read: HANA Vs S4 HANA | Simple Finance Vs S4 HANA Finance
SAP ECC Vs R3 – Conclusion
SAP R3 is the old technology. So companies should migrate to the new GL (SAP ECC) to avail of all the above-mentioned features. It will help them to get better integration, fewer end-user activities and better performance. All SAP Finance consultants must know the New GL function under ECC technology to work in the upgraded SAP platform.
Although now is the time of SAP S4 HANA, which is the latest technology. So learning SAP S4 HANA Finance is again important. But many companies are still running on SAP ECC. So being a beginner in SAP Finance, you must go for ECC first and then go for S/4HANA.
