SAP S/4HANA has become the topmost choice of businesses as it comprises all capabilities of SAP HANA along with several added benefits. Earlier, SAP HANA with its in-memory engines helped companies to process and analyze data in real-time. The software was also useful in executing online transaction processes and the entire analytical needs of businesses to build high-end hardware. That stored data optimally with a high-availability function so that the databases remain active and run with all the mission-critical applications intact.
The revised idea to build the new SAP S/4HANA was commenced by rewriting the SAP Business Suite in Financial Accounting. The data model earlier used with financial accounting was restructured and rewritten completely to form more simplified software for different types of businesses. The new edition is the SAP S/4HANA and it is an improved version of SAP Business One Solution when it comes to financial management.
Rebuilding SAP HANA to a new simple application got easy for SAP ECC customers who can convert their ECC systems to SAP S/4HANA with its building tools being available for all SAP consumers. All ECC utilizing SAP models occur on a hierarchical data model. Consequently, when the data is complex, the application is also tough to recover and analyze. It integrates with other apps and improvements in the business model are challenging and hard to perform. SAP S/4HANA is an improved version of the same data model.
The advantages of SAP S/4HANA is not limited to the above ones. Its other benefits include:
Actual Table
The Actual Table includes data models related to finance and inventory management. They are simplified in the new application as there is only one table for finance and another for material documentation. The fly aggregation available on every table simplifies the data structure and makes accounting flexible and accessible. The software brings numerous notable changes in the procedures involved in transactional data for financial reporting. Businesses love the advantages that help them sync their internal and external reporting needs. These features add more flexibility and user-friendliness to the accounting system.
Planning Table
The next advantage of SAP S/4HANA is that it enables users to store the planning results in the ACDOCP table. The actual reporting is delivered when entries of two tables are compared in the table. All businesses using the master data as a reference with SAP Analytics Cloud do it through the same table. SAP S/4HANA to SAP Analytics Cloud is the source of entire data.
Easy Management of Cash
The software is utilized for managing cash movement and hence, offers amazing experiences to cash managers. Businesses deploy this software for checking the end-to-end process of their bank statements imports, handling transfers with surplus and deficits. Cash managers can also improve their bank relationship management. Consequently, businesses can manage their bank accounts as master data utilizing their personalized business features.
SAP Business One on HANA
It analyzes entire global bank balances and cash options more straightforward. It collects the data from each SAP and non-SAP system to aggregate and effectively analyzes data. Being a business owner, you will have features of liquidity forecasting as well as can create apt bank relationships, and for cash managers, they can have a smart business cockpit.
Trusted Business Partner Approach
HANA for SAP Business One Solution allows for maintenance of customer master data and vendor master data together under one transaction code to make analysis easy. Both master data are managed with a central approach that connects the business partner and all other components. The business partner role is considered as the customer or vendor data, among others.
Users also find the new accrual engine structured on SAP S/4HANA as an efficient technique to perform all accruals. It is convenient to locate cists allocated to the fiscal period immediately by posting accrual in the system. The new accrual engine helps in integrating with the general ledger without any manual inputs. Postings will work on ledge level in contrast to accounting principle level only as in the previous SAP technology.
Conclusion
SAP Business One Solution for HANA provides business analysis in real-time to satisfy all business procedures in the digital world. SAP offers great innovative features with rich applications to proffer predictive fact-based insights for real-time data. The application gets you accurate financial analysis for your business.
Follow Techdee for more!