SAP S/4HANA Finance is a financial application in the SAP S/4HANA ERP platform. It consists of a set of interconnected financial management functions that provide real-time data from the enterprise resource planning (ERP) applications. SAP S/4HANA Finance is part of S/4HANA and is built on the SAP HANA in-memory database platform. S/4HANA integrates cross-organizational functions into one system that combines transactional processes and analytics for real-time applications. For the front end, SAP S/4HANA Finance uses SAP Fiori for a consumer-like and personalized UX (user experience).Content Continues Below
SAP S/4HANA Finance, which was previously called SAP Simple Finance, is the first business application developed for the S/4HANA platform. It is designed to remove traditional barriers between transactional, analytics, and planning systems to provide instant insights and on-the-fly analysis using all levels of financial data. A business decision maker, for example, can use SAP S/4HANA Finance to model data and create forecasts of potential decisions using real-time financial data from various systems.
SAP S/4HANA Finance is aimed at financial professionals and specialists in all industries, including Chief Financial Officers (CFOs) and others involved in accounting and tax, treasury, financial operations, risk and compliance. The user base ranges from small companies to Fortune 100 enterprises and includes companies around the world.
The main advantage SAP S/4HANA Finance has is processing speed combined with integrated features for the various financial functions, such as financial accounting and management accounting. Because of this, SAP S/4HANA Finance allows for a much faster reconciliation of financial processes such as the quarterly close, and provides a single source of financial truth for the organization as a whole, according to SAP.
Another key advantage is the ability to use real-time data with analytics to model and predict the impact of changes that a company may want to make, such as acquisitions. This can enable financial professionals, including CFOs, to play a more prominent role in corporate decisions.
SAP S/4HANA Finance can be implemented on-premises, in the cloud, or in hybrid environments. SAP S/4HANA Finance applications can be implemented as standalone products or bundled together.