Introduction
SAP S4 HANA is SAP’s next-generation ERP solution that may help organizations to become Intelligent Enterprises. We have created a comprehensive article on everything you must know about SAP S/4HANA. Alternatively, you can enroll for the SAP S4 Hana Course in Noida, which will help you understand the concepts from scratch and make you competent as an expert.
SAP S4 HANA: Meaning
SAP S/4 HANA is an abbreviation for SAP Business Suite 4 SAP HANA. It is an ERP software suite. Also, S/4 HANA is the successor of the most basic component SAP ECC. While traditional SAP ERP solutions support the most common databases, SAP S/4 HANA makes use of SAP’s in-memory database, SAP HANA. Furthermore, “S” stands for “simple,” while “4” is the generation sequence in the term S/4 HANA.
Therefore, S/4 HANA is the first SAP Business Suite entirely on the SAP HANA (High-Speed Analytical Appliance) database platform. It allows enterprises to deliver mission-critical applications with the help of a simplified architecture that includes a single database, operating system, and user interface.
SAP S4 HANA Features
The list below are the major features of SAP S4 HANA:
● Simple Data Modelling
Data modeling for SAP S/4 HANA Group Reporting is similar to any other consolidation solution, depending on essential variables such as dimensions (DIM), consolidation unit (CU), chart of accounts (CoA), etc. However, new dimensions or reporting items inside this new solution are simple, with no extra modeling or mapping to add additional dimensions required.
● Live Data Collection
You can collect data by choosing the preferred upload mode. However, the Universal document integration tool allows the use of any currency field in the Universal Journal to populate the local currency of the consolidation unit.
● Live Extensible Master Data
SAP S/4 HANA core accounting master data is available in real-time. However, you may share this tool without replication and supplement it with master data necessary solely for consolidation. In other words, you may integrate consolidation master data and accounting master data.
● Easy setup of validation
While configuring the validation criteria, you have a unified view of all required parameters. For each validation rule, you can have an ID, a name, a tolerance specified, and a control level (error, warning, or information). However, you may require a textual remark for each validation rule and the formula for the left and right sides of the criteria.
● Consolidated Reporting
Analysis for Office is a reporting tool for creating consolidated reports like balance sheets, profit and loss statements, and cash flow statements. It acts as the primary facilitator for reporting packets at the local and consolidated levels.
Key Benefits of SAP S4 HANA
With today’s increasingly flexible business models, SAP S/4 HANA can deliver speed, simplicity, flexibility, quicker analytics, reduced costs, etc. Moreover, it has significant benefits, which are as follows:
● Performance
SAP S/4HANA is only available on SAP HANA. With superior aggregate table structures, the streamlined in-memory database enables quicker processing and simple transactions. Moreover, SAP S/4 HANA enhances performance and helps your organization to plan, execute, and provide data reporting.
● Agility
SAP Fiori drives the SAP S/4HANA’s end-user interface. This user-friendly presentation of real-time business insights and analytics on any mobile device becomes a competitive advantage at any time and from any location.
● Simplicity
SAP S/4HANA offers a streamlined architecture with a digital core that involves many applications such as IBP, BI, etc. It delivers unprecedented ease to the management and administration of the whole IT environment, along with the cloud adoption potential that brings it to the forefront.
● Lower Total Cost of Ownership
SAP S/4 HANA combines with the main functions such as Global Available-to-Promise and master data governance. However, from an infrastructure standpoint, the fewer boxes to maintain, the cheaper the ownership and maintenance expenses. Moving from the old physical infrastructure to a more cloud-native environment powered by S/4HANA can result in up to a 17% decrease in IT expenditures.
● Accurate Forecasting
AI and machine learning technologies embedded in S/4HANA continue to evolve slowly but gradually to improve modeling, predictive outcomes, and forecasting.
● Automated Tedious Tasks
SAP S/4 HANA delivers light process automation, allowing enterprises to automate mundane processes such as running reports that you perform manually, enabling employees to focus on more productive activities.
● Innovation
An open platform makes it simple to drive innovative applications such as forecasting, suggesting, and modeling while safeguarding existing investments.
Conclusion
Hopefully, you may find this article informative. We have compiled the top benefits and features of SAP S4 HANA. By looking at this overview, if you desire to have a career in this domain, we suggest you enroll in the SAP S4 Hana Training in Gurgaon.
