Last Updated on August 14, 2022 by Pradeep
SAP FICO Consultant’s Duties – What do you know about it?
An SAP FICO consultant works on an SAP implementation project. He configures SAP Financial and Management Accounting into the SAP ERP system of an organization and takes care of its functionalities.
This is what you might already know in brief.
However, the role of an SAP FICO consultant is not confined just to the configuration and implementation work. There are many other things involved in its whole profile.
Thus, here in this article, I have penned down a list of work that an SAP FICO consultant does. You can see in detail almost all types of responsibilities of a FICO consultant’s profile and the roles that you need to perform being one.
I suggest you read these carefully to understand what your employer expects from you as an SAP FICO consultant.
The career of an SAP FICO Consultant
The career in SAP FICO is really interesting yet challenging. It involves ample growth opportunities and a well-structured hierarchy.
Job profiles in the whole SAP environment work in sync with the job roles. Thus, if you strive to become an efficient SAP consultant, you should understand those roles. Furthermore, you should learn all the required skills to become a valuable resource for your company.
Since the job roles of an SAP FICO Consultant are a mix of technical and non-technical duties. Thus, you not only should know the configuration but also the support tasks too. You need to work in good coordination with your team and users.
Learn: Why to choose a career in SAP
Non-Technical Duties of FICO Consultant
These consultants do not only perform technical but non-technical duties also. They don’t just configure the system with SAP ERP Financials. They also make them work efficiently and are used by users comfortably. Let’s know what is all included here.
SAP FICO Consultant is the Customer’s Representative
A FICO consultant responsible for talking with the customer’s representatives transforms the business requirement into an abstract and algorithmic business model. He/she identifies the use cases and transforms them into logical and technical views.
Makes Financial Documentation
The FICO consultant documents all Financial settings and prepares proper guidelines that allow other consultants to do further changes.
He takes care of Users’ Training
The FICO consultant takes care that proper training is given to the users and that the system is usable, performing appropriately and the business flow is complete and correct.
SAP FICO Consultant handles Post-Go-Live Functionality
After go-live, the FICO consultant guarantees that the procedures remain usable and consistent in a real-life situation and propose enhancements.
Are you serious about choosing SAP FICO as a career?
Then you should know what practically you need to do in your position. This knowledge would not only help you to get a clear idea of your future duties but also help you to prepare well for your SAP FICO interviews.
Configuring Business Area
Here starts the main task – Configuring the respective business area and making sure the system reacts in a manner according to the requirement.
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Technical Assistance
During go-live, he assists the technical staff by testing the behaviour of the system
SAP FICO Consultant’s Technical Responsibilities (Core Duties)
Apart from some non-technical duties, the main job of SAP FICO consultants is to do the technical work in SAP project implementation. Here is a relevant list of those sets of responsibilities.
Role of FICO Consultant at an End-To-End Implementation
The main duty of a consultant is to transfer external know-how to the client. It is not manpower that counts but intelligence, understanding of processes, a feeling for defects, and general common sense.
Designing Business Process
Employers expect FICO consultants to generate knowledge about the current business process, design current business flows, and study current business processes and its complication, in all we can say getting through with the current business setup.
Documenting Configuration
You need to document all configurations as per categories in the form of predefined templates. These then, team leads or project managers approve.
Mapping and GAP Analysis
You need to do Mapping and GAP analysis for each module.
Before starting the configuration of future business processes in SAP. Preparation of TO BE, which can be also said as a result of mapping and GAP analysis.
Sometimes Functional consultants also prepare test scripts for testing the configuration scenarios.
User-Training
FICO consultants also prepare the End-User manual and user training.
The project normally starts with a Kick-off meeting. Here the SAP FICO consultants formally define the predefined data. Such as team size, team members, reporting system, responsibilities, duties, methodology, dates and schedules, working hours etc.
Implementing the ASAP methodology
ASAP Methodology is the SAP standard implementation methodology, which SAP prescribes but is not mandatory for any company to follow, but recommended to follow the same.
Phase- 1 – Project Preparation
The purpose of this phase is to provide initial planning and preparation for your SAP project
Phase- 2 – Blueprint Phase
The purpose of this phase is to achieve a common understanding of how the company intends to run a business within the SAP System.
The result of Business Blueprint, detailed documentation of the results gathered during requirements workshops. The Business Blueprint document represents the business process requirements of the company. It is the agreed statement of how the company intends to run its business within the SAP System.
Phase- 3 – Realization
The purpose of this phase is to implement all the business requirements based on the Business Blueprint. The system configuration methodology is provided in two work packages. Baseline (major scope) and Final configuration (remaining scope).
As a FICO consultant you would be responsible for configuring, General Ledger, Cost Calculation, Cost Analysis, Accounts Payable, Accounts Receivable, Asset Accounting, and Bank Accounting.
Phase- 4 – Final Preparation
The purpose of this phase is to complete the final preparation (including testing and end-user training, system management, and customer activities to finalize your readiness to go live. The Final Preparation phase also serves to resolve all critical open issues. On successful completion of this phase, you are ready to run your business in your live SAP system.
Phase- 5 & 6 – Go Live And Support
The purpose of this phase is to move from a project-oriented, pre-production environment to a live production operation.
A FICO consultant could be either in-house or external. An in-house consultant works for the organization during execution and after goes live as a support consultant. While external consultants are only part of the implementation team. Their responsibility ends when the project goes live.
The consultant plays a very important role than users in the organization since they are responsible for the execution and system setup based on business necessities, GAAP analysis, improving procedures, and searching for new opportunities.
Conclusion
Understanding the roles of SAP FICO consultants is also important to get a good job in SAP FICO fast. Because unless you are very clear about the duties you would do on the job, you can’t prepare well for the same. So get into the detail about each responsibility that an SAP consultant does.
With these details, you surely would be clear on what you should work upon to be a Successful SAP FICO consultant. No doubt, SAP Financial Accounting is the most popular application of various SAP modules. Thus, it also creates a good number of requirements for FICO consultants.
Related: SAP S/4HANA Finance – The Most Popular Module
Since the profile of the FICO consultant is kind of versatile, you would find it interesting to work in. As you have various types of responsibilities herein, you would never get bored with your work. Likewise, your work would never be monotonous with a mix of duties you have. So, analyze these job roles and prepare yourself well for each one of them.
