SAP Simple Finance

What differentiates Cash Management from other solutions?

SAP Cash Management powered by SAP HANA consolidates data from SAP and non-SAP systems into a single source of truth. It offers real-time, drill-down analysis into global bank balances and cash positions provide dynamic liquidity forecasting which includes cash flow analysis and allows treasurers to take instant action with integrated bank account management.

Simply put, the Cash Management solution can aid cash managers to handle challenges in the short, mid, and long term using a single system.

Robust cash management is crucial when challenged with decreased bank lending and various other liquidity challenges. Organizations require cash to function, and when it can’t be obtained easily from the outside, it needs to be created and conserved from within the system.

List the changes in COPA using SAP Simple Finance.

SAP’s newest offering, SAP Simple Finance, utilizes SAP HANA as its primary database and has opened up fresh options to create COPA structures aligned with the general ledger. Because of this, SAP enhanced an account-based CO-PA in SAP Simple Finance offers:

1. Detailed information on the cost of goods, break down cost-of-sales to the cost component of each cost bucket
2. Reconciliation between COPA and the GL at Account level
3. Production variances sorted by variance categories
4. Invoice quantities

This brand new functionality in Simple Finance SAP is prompting businesses to implement account-based CO-PA and not the previously preferred costing-based CO-PA.

Describe SAP NetWeaver Gateway Central Hub deployment in SAP Fiori.

NetWeaver Gateway Central Hub deployment

User Interface layer and SAP NetWeaver Gateway are contained in the ABAP Front-end server. The ABAP backend server includes back-end data and business logic. Sorting back-end data and business logic from UI layer has the following benefits −

1. Single Point of maintenance for UI issues such as browser support and updated version of SAPUI5 libraries.
2. Single Point of access to backend systems and highly improved security as there is no direct access to the backend system.
3. Centralization of theming and branding for SAP Fiori Apps.
4. SAP highly recommends Central Hub deployment for organizations looking for Productive environments. A Separate NetWeaver Gateway system is needed for this.
5. Routing and composition of various backend systems supported.

What are the flexible reporting options?

S/4 HANA integrates OLAP and OLTP system and allows for a single source of truth. And has inbuilt BI and BW content which can be utilized for reporting purposes.

There multiple flexible reporting options as stated below:

1. SAP Fiori Apps

If one is implementing S/4 HANA it is advisable to utilize the various Fiori apps offered by SAP. Three main apps in the area of Profitability reporting can be considered:

• Net Margin Analysis
• Margin Analysis
• Profit Margin

2. Using Analysis for Office tool

AO is an excellent tool to analyze data and enables a high degree of flexibility in reporting. Three standard queries are available to analyze COPA data

With this query, one can generate any layout and analyze details as per given COPA dimensions. This provides a lot of flexibility and must be utilized by professionals who need to major slicing and dicing of COPA data.

3. HANA Live content

SAP HANA live can be utilized to obtain browser-based access to data and standard query. These queries can provide a set of information in a standard format

4. Other options

There are other options which can be utilized such as SAP Lumira which also has a Fiori app or custom report by Design Studio.

Explain the migration process in Simple Finance.

The Migration Process in SAP Simple Finance is as follows:

In a migration project with SAP Simple Finance Add-on, one has to execute the following steps:

Step 1: System Preparation Phase

This is the first phase of the migration project, where one executes data cleanup, pre-check, consistency of data, closing tasks, and even reporting.

Step 2: Installation of SAP Simple Finance Add-On and Other Elements

The following step is the installation of SAP Simple Finance Add-On component, setting up HANA Live and SAP Fiori implementation to give enhanced tile based UX.

Step 3: Customization for Migration

This step includes execution of customization for Asset Accounting, General Ledger, and Controlling.

Step 4: Data Migration

The next step involves the execution of data migration to move data from the legacy system to SAP S/4 HANA system.

Step 5: Post-Migration Activities

Post-execution of migration tasks, one requires to execute cold store and add more information to documents.

Step 6: Data Checks

The final step involves the execution of checks on migrated data, report validation, and testing the processes.

What are the key business benefits of SAP’s S/4 HANA Simple Finance?

The five key business benefits of SAP S/4 HANA Simple Finance

1. Performance
   S/4HANA runs on SAP HANA, leveraging SAP’s in-memory computing database. This means that running an SAP solution such as S/4HANA rides at the speed of transaction processing and reporting native to SAP HANA boosting performance greatly.
2. Agility
   The end user interface of SAP S/4HANA is entirely SAP Fiori driven making a user-friendly presentation of real-time business insights and intelligence on any mobile device a considerable business benefit, anytime and anywhere.
3. Simplicity
   SAP S/4HANA brings unmatched simplicity to the management and administration of the entire IT landscape and coupled with the cloud adoption potential that it brings to the fore, hardware and network resources have achieved new levels of being centralized.
4. Reduced Total Cost of Ownership
   The adoption of S/4HANA is an inexpensive option considering that one is able to integrate all the analytical and transactional capabilities of various systems into a singular source of truth which drives acute and proactive business making.
5. Innovation
   SAP Simple Finance is one of the innovators leading cloud adoption throughout IT domain since the cloud facilitates delivery of new innovative products by vendors.

List the sectors where SAP HANA Finance can be used.

As a comprehensive financial management solution, SAP S/4HANA Finance offers innovations in the following five key areas:

• 1. Financial planning and analysis

  Financial planners have access to real-time master data with the updated software. S/4HANA Finance provides a unified planning model that provides end-to-end simulations and on-the-fly financial analysis.

  2. Accounting and financial close

  With S/4HANA Finance, one will be able to close the books faster and create real-time reports that let one narrow to any reporting dimension. Closing the books can be done 30 percent faster than previously possible

  3. Treasury and financial risk management

  The platform provides effortless, real-time access to your cash flow, permitting one to manage liquidity better. It has been found that S/4HANA Finance has aided enterprises in minimizing their cash management costs by 58 percent.

  4. Collaborative finance operations

  One can respond faster to fluctuating market dynamics. S/4HANA Finance lets one automate their accounts receivable and accounts payable, therefore minimizing the time spent waiting for payments and permitting one to plan his/her own pending payments better.

  5. Enterprise risk and compliance

  With the S/4HANA platform, one can automate compliance and enterprise risk. It permits one to better monitor data and finds financial discrepancies that may show fraud. S/4HANA Finance can help your company minimize fraud risk before it exceeds control because fraud is detected in real time.

What are SAP HANA features and benefits?

The key features of SAP HANA are given below

1. The in-memory technology allows users to explore and analyze all set of transactional and analytical data in real time from virtually any data source.
2. Source-agnostic data access and integration services permit accessing and indexing external data, from across the entire company and adding them to existing analytical models.
3. Real-time analytical processing can be executed to analyze business operations live to utilize large volumes of detailed data while business is on-going.
4. Data can be gathered from several applications and data sources without any way disturbing the business transactions that are happening simultaneously.
5. Business information views can be stored in a Persistent Data Repository, and be reconstituted in the case of a systems crash.
6. Real-time Replication Service can be utilized to access and reproduce data from SAP ERP.
7. Close integration with SAP BusinessObjects BI solutions has been made a reality for Business insight and analytics.

Benefits of SAP HANA include:

1. Unified information modeling and design environment means the key benefit here is that all data models are completely virtual,
2. Simplification of existing models, of modeling and remodeling.
3. Minimized costs through simplifications of maintenance, hardware, and testing.
4. Simplified Operations and Monitoring with the integration of fundamental HANA administration capabilities with the BW Admin Cockpit.

Explain the SAP Simple Finance capabilities and innovations.

1. The capabilities of SAP Simple Finance are as follows:
   • Allows high-speed “real-real-time” analytics at the most granular level across every financial dimension without any constraints.
   • A single consolidated view of real-time and harmonized financial and management accounting data for all subsidiaries, to aid enterprise-wide consistency and standards and reduction of reconciliation time and errors.
   • Built-in capability to utilize simulation, prediction, and analysis to assess the financial implications of highly strategic business decisions.
   • Optimization of Business Processes referring to event-driven processes with real-time execution.
   • An amazing HTML5 based user experience with SAP Fiori, which provides customized, modern and a smooth user experience for every application and device.
   • Deployment options consisting of on-premise, hybrid, and cloud, and a migration path which is non-disruptive.

   The new innovations in SAP Simple Finance are as follows:

2. SAP BusinessObjects Planning and Consolidation (SAP BPC) version for SAP Netweaver has been optimized for SAP S/4HANA Finance. This allows planners access real-time master data and accruals in SAP ERP without data replication.
3. SAP Accounting integrates financial and management accounting and profitability data into one largely common journal. It eliminates indices, totals, and various pre-defined aggregates, and depends on line items as the lone source of truth.
4. SAP Cash Management offers global cash positions in real time, even when heterogeneous backend systems are present. New capabilities offer a detailed analysis of forecasted cash flows to bring higher levels of consistency to liquidity strategies, cash balances and cash requirements.
5. SAP Receivables Management enhances working capital and financial health by utilizing real-time receivables data to streamline billing, evaluate customer credit risk, resolve disputes and more.
6. SAP Fraud Management offers the insight needed to detect, investigate, and deter fraud.

Why Is It Essential to Enroll the SAP Simple Finance Training?

The reasons to enroll in SAP Simple Finance are as follows:

Increased Adaptation: meaning SAP certified IT professionals will understand the complete software process and will leverage it to gain advanced user acceptance

Lowered Risk: meaning certified executives can rule out excessive risk in terms of project completion well within the budget and well on time

Instilling confidence: The clear understanding that all certified individuals possess of the organization's technical capabilities enables them to tackle challenges posed by novel technologies. This will instill confidence in the organization to handle more complex projects.

Accelerated project delivery times: certified individuals will bring about faster project delivery times and reduce error in the same. Also, the use of SAP Simple Finance will greatly streamline the finance operations in the company

Higher revenues for both the individual and the organization: enrolling in this certification will automatically boost the chances of an individual getting a much higher salary based on expertise acquired and organizations will stand a chance of boosting their bottom line

What are the Prerequisites of SAP Simple Finance Course?

While there are no strict requirements to be fulfilled before taking up the course, it is useful to possess a certain amount of pre-acquired knowledge in SAP. And a professional should also have a keen willingness to learning the course.

What are the system requirements to attend the live sessions?

1. Processor I3 with 4GB RAM, OS can be 32 or 64 bit (Laptop/Desktop)
2. Internet connection with Min 1 MBPS speed
3. Good quality headset
4. Power back up
5. You can also log in through your Android mobile phone/ Tablet with 4G internet connectivity

What if the trainee miss any session?

The trainee can watch the recorded video of all the sessions in the LMS or Trainee can attend the missed session in the upcoming batches.

What do the trainee get from the LMS?

The trainee will have the access to Recorded sessions, Assignments, Quizzes, Case Studies, few course documents posted by trainers, Placement related docs etc.

What is the validity of the LMS access? What if the LMS access is expired.

The trainee will get 1-year access to the LMS. You can contact our support team to extend the validity of the LMS.

Will the trainee get any project to work on with SAP MDG course?

Yes, of course! The trainee will get the project at the end of the course; you need to submit a project. Our trainers will assist you to complete the project.

How are the practicals done?

The trainee will get step by step assistance on VM installation from our expert trainers during the practical sessions, post live sessions, you can practice at your end and submit your queries if any to our support team support@bumacoglobal.com for further assistance.

What are the types of training we offer?

1. WBLT- Web-based live Training
2. WBVT- Web-based Video Training
3. One on One live training
4. Self-paced training
5. In class training
   

What are the benefits of online training ?

1. Flexible location
2. Flexible schedule
3. Travel free
4. Time saving
5. Cost saving
6. LMS access
7. You will never miss a class
8. Two-way interactive
9. Fast learning
10. Trainer support for 1 year
    

Who are our Trainers?

Our trainers are industry experts having 10 to 15 years of industry experience and 3-4 years of training experience. Most of the trainers are working professionals who teach the real time scenarios which will help the students to learn the courses in an effective manner.

Will the trainee get the certification post the course completion?

Yes, Trainee will get the participation certificate from Bumaco global upon successfully completing the course.

What if the trainee has more queries and need assistance?

The trainee can drop an email to support@bumacoglobal.com an automatic ticket will get generated. Our support team works 24/7 to assist you with all your queries.