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In the current scenario, many organizations are using idle data to improve their business performance. So, to manage customer interactions and manage business operations, SAP creates ERP systems. SAP stands for “Systems, applications and products in data processing”. Therefore, two of the most popular SAP products include SAP HANA and FICO. Here we will understand the importance of both SAP modules and how they differ from each other.
An Introduction to SAP HANA
SAP HANA or High Performance Analytics has recently become the most used platform for ERP (Enterprise Resource Planning). With the help of SAP HANA, you can store data in memory, which helps process data faster. SAP HANA also helps improve customer satisfaction and deliver products and services instantly. Additionally, by using the SAP HANA system, companies can satisfy their employees and improve collaboration. It is for this reason that many organizations are implementing ERP systems to manage their business operations. Along with this, the demand for qualified SAP professionals has increased in the market, thereby opening up new career opportunities. So, this is the best time to enroll in SAP HANA online training and get familiar with SAP HANA framework applications.
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Different components of SAP HANA
Using SAP HANA, businesses can store data on cloud servers and retrieve data from different applications. Additionally, you can perform data processing, advanced data analytics, and business process optimization. Additionally, SAP HANA contains important tools that help streamline business processes.
Some of the most important SAP HANA components include:
- The SAP HANA DB component serves as the main in-memory database, helping SAP HANA function correctly.
- With SAP HANA, the Application Cloud has become paramount as it serves as the primary cloud-based infrastructure.
- In addition, SAP HANA also offers HANA Studio so businesses can manage data with modeling tools.
- The most unique feature of SAP HANA is that you can install it on any platform without any hassle.
Key Features of SAP HANA
SAP HANA has become an important aspect for various facilities such as cloud or hybrid systems. Additionally, the SAP HANA platform will help you build essential tools and applications. Therefore, the most important features of SAP HANA include:
Database Enhancement
SAP HANA has become the most widely used multi-model database system. With this, you can easily integrate different data models into a single backend. This will help you maintain relationships between data points. So, companies can improve the database in this way.
Improved data management
With SAP HANA’s in-memory functionality, you can process and store data without any latency. In this way, companies can optimize their business processes and become more efficient. Additionally, it also offers unique features such as data integration and modeling, and provides useful business insights.
Advanced Analytics
It provides real-time data analysis and allows you to access large data sets. Through this, businesses can improve data analysis processing and improve data science team productivity. Additionally, SAP HANA provides machine learning tools to extract data and identify problems.
Application development and tool enhancements
SAP HANA provides unique capabilities to improve performance and simplify tool applications for developers. Additionally, you can build tools without the help of an IT consultant thanks to SAP HANA’s advanced processing.
What career opportunities can you choose in the SAP HANA domain?
Currently, SAP HANA is becoming the career path chosen by many people. So, if you are new to the SAP system, you must choose the best SAP HANA online training course to fully develop the necessary skills.
After completing the training, you will learn about implementing SAP HANA.
Below is a list of the most popular career opportunities you can choose from after receiving your SAP certification;
- Performance Consultant
- Business Consultant
- Operations and BW Consultant
- Security Consultant
- Project Manager
- Application Developer
Introduction to SAP FICO
Recently, SAP FICO has become the most popular and widely used SAP module in the industry. Additionally, FICO has dominated the business world as it offers many unique features and benefits. SAP FICO or “Finance and Control” takes care of the company’s finances and controls it. Therefore, many businesses have completely switched to the SAP FICO system because it helps them manage finances and control data effectively.
So, if you want to become an expert in this field, you will need to enroll in the SAP FICO online course to understand the advanced concepts of the FICO module. As a result, you will benefit from the best training experience and access exciting career opportunities around the world.
Reasons to learn SAP FICO in 2024
With SAP FICO, businesses can manage and organize financial reports as well as control data flow. Using this effective system, you can easily document the financial framework of an organization. In addition, SAP FICO also provides unique features such as changes, records management and product costing. Additionally, it allows you to track the overall profits and revenue of an organization.
- The SAP FICO module has become the most demanding SAP module in the world today. So, if you get proper training and certification on SAP HANA module, you will become more trustworthy in an organization. So, you must opt for SAP FICO module to get high salary and enjoy great career opportunities.
- FICO also offers features like accounts receivable and payable, cost center setup, and banking setup. Therefore, to perform integration and calculations, you will need to be familiar with the FI and CO modules.
- You can use real-time functions, which makes FICO the most suitable ERP system for the finance and control sector. Additionally, FICO will automatically notify you of the latest updates and respond to all requests to deliver the best results.
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Difference between SAP FICO and SAP S/4HANA Finance
The main difference is that SAP S/4HANA belongs to the technical module while SAP FICO belongs to the functional module to manage all financial aspects and costs of an organization while SAP S/4HANA is a reporting tool. SAP FICO helps us manage all account related activities and it is integrated with various modules e.g. MM, PP, SD.
SAP FICO is an important module of ERP and FI and CO modules store financial transaction data.
while SAP S/4HANA Finance is an area of the S/4HANA suite that deals with financial management solutions. It allows a Global Journal to store financial/control data and Central Finance to consolidate multiple backend data sources.
he S/4HANA Finance system can be launched and immediately replace all existing transaction systems or FICO systems at once. However, in our understanding of implementing a system, this essential element is a long-term and sensitive project.
Central Finance is an intermediary for implementing the S/4HANA Finance system to reduce any disruption by allowing existing Finance and Control applications to stay up and running, while integrating cross-border transactions. Translate that same into the new S/4HANA Finance system using replicated SLT data. This can reduce the risk of trying to replace multiple trading systems at once.
Difference Between SAP FICO and S4 HANA Finance
SAP FICO | SAP S/4 HANA Finance |
SAP FICO works on ECC model. | SAP S/4 HANA Finance model is based on in-memory HANA database and works on cloud platform. |
SAP FICO is the Finance and Cost controlling module in SAP ERP where FI stands for Financial Accounting and CO stands for Controlling. SAP FICO module is very robust and covers almost all business process encountered in various industries. It is one of the essential and widely implemented modules in SAP. | SAP Simple Finance was the former name of SAP S/4 HANA Finance. SAP S/4 HANA Finance is the area of the S/4 HANA suit dealing specifically with Finance Management solutions. |
SAP FI submodules: General Ledger Account payableAccount receivable Banking etc. |
It enables:
|
No option to create CDS Views | Data is calculated on the fly with cds views. |
Conclusion
Ultimately, the main difference between Sap Fico and Sap Hana is the technology used within them. As SAP FICO works on ECC model, SAP HANA is based on HANA database working with cloud technology.
Furthermore, with all the new features, SAP HANA has dominated the ERP features and provides the best user experience. Therefore, SAP FICO tracks both financial and data controls. With these features, SAP HANA and FICO differ and offer several important advantages.
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For those who want to learn more about SAP S/4HANA, enrolling in a reputable training institute like Entri could be the ideal choice.
Entri App offers flexible SAP S/4HANA training to meet diverse learner preferences and requirements. Our training programs are accessible online, ensuring accessibility to a wider audience. With a team of experienced instructors, engaging interactive sessions and round-the-clock mentoring, we aim to effectively equip learners with practical skills to apply SAP in real-life situations.
Our courses are suitable for finance and accounting professionals looking to advance their careers.
We offer hands-on training and, if successful, a certificate to confirm your expertise. Embark on your learning journey with the Entri App and expand your knowledge, paving the way for success in the dynamic finance and accounting industry.