ERP Software

SAP’s Enterprise Resource Planning Key Financials Features

In this article we are going to highlight some of SAP’s key ERP features that exist in their Financials solution.  SAP’s FSCM (Financial Supply Chain Management) ERP (Enterprise Resource Planning) solution has the following ERP features; credit management, electronic invoicing and payments, dispute management, and collections management.  Key ERP features in SAP’s Financial and Management Accounting solution includes; financial accounting and management accounting.  The Financial Accounting module provides functionality in the following areas; fixed asset, accrual, bank, cash journal, inventory, tax accounting, general ledger, accounts receivable, accounts payable, fast close functions, and financial statements.  The Management Accounting module provides functionality in the following areas; contract, profit center, project, product cost, profitability, cost-center accounting, investment management, revenue planning, cost planning, and transfer pricing.  SAP’s Enterprise Resource Planning features the support of many languages and currencies and meets international financial reporting standards and regulatory requirements.  Key ERP features in SAP’s Treasury solution includes; cash and liquidity management, in-house cash, treasury and risk management, bank communication management, and integration with SWIFTnet.  SWIFTnet is a secure bank payments network.

SAP makes a Financials solution for small and mid-sized companies as well as the large fortune 500 companies.  SAP has thousands of customers big and small located all over the world.  The functionality described above may not exist in its entirety for SAP’s small and mid-sized business solutions.  SAP also makes an on-demand version of their Financials solution.  For companies in need of extensive reporting capabilities, SAP’s Enterprise Resource Planning Financials solution offers Crystal solutions.  Crystal reports work with SAP data to turn information into reports.  SAP Financials solutions is built on an open architecture known as service-oriented architecture (SOA).

SAP’s Financials solution has ERP features that are proven in just about any industry and any type of company within that industry.  Industry specific best practices and value management methodologies are always deployed in every SAP solution and are the underlying premise for all functionality.  Specific industries SAP Financials solution targets includes; aerospace and defense, automotive, banking, chemicals, consumer products, defense and security, engineering, construction and operations, healthcare, high-tech, higher education and research, industrial machinery and components, insurance, life sciences, media, mill products, mining, oil and gas, professional services, public sector, retail, telecommunications, transportation and logistics, utilities and wholesale distribution.  If your business does not fall under one of these industries then pigs really do fly!

Written by :

tracey boxer