The release of SAP S/4HANA Cloud 1611 finally announced last week! And exciting news, S/4HANA Finance Cloud is the latest member of the cloud family!
SAP S/4HANA Finance Cloud offers a straightforward approach to step into cloud. If you are not sure where to start your “cloud journey” S/4HANA Finance Cloud could be the answer for you. It is basically a finance-oriented cloud ERP offering specifically designed to take advantage of the capabilities of in-memory computing.
Above figure provides a high level overview regarding the current editions of SAP S/4HANA Cloud editions.
SAP S/4HANA Finance Cloud offers all required processes to run finance together with the core sales and procurement processes which are supported by SAP Fiori for a role-specific, intuitive, and simple user experience.
It comes with the below set of scenarios to help streamline your entire finance chain:
- Accounting with fast close
- Asset Accounting
- Cost accounting with Profitability and Cost Analysis
- Efficient financial operations
- Real-time cash management
- Pre-delivered integration with SAP SuccessFactors
As you can see above, it doesn’t only support the Finance but also integrates with other SAP solutions as well and this where S/4HANA Finance Cloud delivers the substantial value. It reduces the memory footprint by eliminating pre-calculated aggregate tables and enables instant insight-to-action. It also allows you to decrease the end of period activities by reducing the reconciliation requirements. Its outstanding ability to integrate SAP Fiori significantly improve the user experience of SAP S/4HANA Finance Cloud and provides a responsive and instinctive experience across all devices. If you have not seen my article regarding SAP S/4HANA Finance and Fiori Apps, you can find it here: “SAP S/4HANA Finance 1605 and Fiori Apps in a Nutshell”. I tried to provide an overview of the front-end and back-end components delivered with SAP S/4HANA Finance 1605 based on the available deployment options.
When it comes to the real-life benefits, the most important business benefit is probably the cost reduction. You can significantly reduce the cost of your operations and maintenance by simply using the standardised processes provided by SAP S/4HANA Finance Cloud.
It also allows you to manage multiple geographies, subsidiaries and divisions with global or country-specific content which would provide you great flexibility when it comes to actually “managing your business” and increase your operational efficiency while keeping your business comply with regulations.
According to a recent study, SAP project go-lives are delayed by 25% on average, which causes higher project costs / delayed benefits. With using a modular approach to the implementation of the functionalities, you can get fast value from the best practices and accelerate and simplify the adoption of SAP S/4HANA Finance Cloud for faster time to value. You can get your business benefits much quicker which could save your business thousands!
References and further reading:
SAP S/4HANA Cloud Release Info Page
SAP S/4HANA Cloud 1611 Release Highlights
SAP Best Practices for SAP S/4HANA Finance Cloud
Product Management Update SAP #S4HANA Cloud 1611 release by Sven Denecken
Feature Scope Description for SAP S/4HANA Cloud 1611