Reasons to Learn SAP FICO
With the help of SAP FICO, Financial management is being advanced continuously in an organization. Currently, SAP FICO is evolving as one of the famous modules and thus provided an increase
in the career opportunities for many aspirants. Well, there are other various reasons to learn SAP FICO.
1. Growing Importance of SAP FICO
Financial statements, master data, etc. can be migrated to SAP FICO system. SAP FICO also helps in well organizing the financial management systems which result in better record management and ease in the decision-making process. Managing modifications, product costing as well as production cost has become easy. Across processes, there is more activity based costing. For notable events, now organizations can keep track of
costs where profitability and sales reports are being generated using internal or external measurement.
2. Status of Market Overview
The demand for FICO professional is not restricted to major cities; it is shared globally. Besides SCM experts, LE, and SAP BASIS the FICO is the most required SAP modules. In these areas, there are limited FICO professionals with strong commercial experience. There has been an emerging trend in the volume of SAP FICO work.
SAP FICO professionals help the end user to distinguish the technical features of the module.
3. Most Demanding Module at Present
G/L Configuration, Accounts Payable (A/P), Bank Configuration, and Accounts Receivables (A/R) Configuration, Asset Configuration, Cost Center Configuration, Configuration concerning Analysis of Profitability, Configuration concerning Profit Center and so on. Classic G/L is assigned with an extension in the form of new G/L along new functionalities. The Data structure has been extended. Co and FI attain Real-time integration.
For parallel accounting, non-leading ledgers are also furnished.
4. ERP FICO
It is quoted as ERP finance and control. It consists of a real-time function. If a new event occurs, it will update automatically. Earlier conventional systems did not provide the real-time analysis of a company’s financial health, but now it is also possible using the ERP FICO. FICO module of ERP also meets the requirement of external reporting. It is a standard utility to direct the documents concerning multiple currencies, companies, and countries.
manner. Most of the companies wish to have an SAP FICO consultant with domain experience because they can understand the process better with SAP.