Last Updated on July 27, 2022 by Pradeep
SAP FICO HANA is a term popularly called by people for SAP Finance on the S4 HANA platform. However, it derived from the migration process that SAP did to migrate its database from ECC to HANA.
SAP HANA is a from cloud-based computing, which is faster, friendlier and flexible in terms of user experience and implementation. Lets us know more about this transition.
SAP Migration from ECC to HANA
In Traditional ERP, there was a delay in Closing activities, which could not begin until the period ended. Not just this, monthly closing was done for many operative entities leading to high transaction volume at month-end.
The migration of SAP FICO to SAP S4 HANA Finance not only binds all processes together but also gives a high level of personalized UX (User experience) using SAP Fiori.
One other key advantage of SAP Finance on HANA or FICO HANA is its high processing speed that results in faster reconciliation of accounts and finance processes such as period-end closing, report analysis & more.
The Integration of SAP FI & SAP CO
The integration of FI i.e. Financial Accounting and CO i.e. Management accounting gives instant insights and on the fly analysis by using financial data at all levels. We should not miss mentioning that we can implement SAP HANA Finance in a Hybrid environment i.e. on-premises giving quick access to changes and update required in the process.
Also Read: SAP Brownfield Vs Greenfield Implementation in S/4HANA
SAP HANA In-Memory Database
SAP S/4HANA Finance can provide real-time data from the ERP application as it is built on SAP HANA architecture or can be said as an ‘in-memory database’ based on Cloud computing workflow. All its financial management functions are interconnected and therefore, all business transactions are integrated and connected into one system that changes in one process and automatically updates the other related processes.
SAP FICO HANA uses Analytics to do planning & making predictions to be implemented into the business process such as Acquisitions. This helps the organization’s management people including CFO to take the right and analysed decisions at the right time. SAP HANA Platform work in real-time data, therefore, making the actions to be taken more prompt.
Watch Related Video: SAP S/4HANA Migration with CDS View
