Top SAP Modules that you should do in 2022!

SAP is a truly global enterprise that serves 350,000 customers in 180 countries. According to SAP.com, around 76% of the world’s transaction revenue touches an SAP system. Not only is SAP already a mammoth organization, but it is also growing at a rapid rate achieving significant and sustainable growth, with the number of licensed customers implementing systems such as SAP S/4HANA growing year on year. This has led to a huge demand for a broad range of SAP professionals from functional and technical consultants to architects and developers.

There are many modules in SAP, but the top modules that you should do in 2022 are.

SAP BI – Business Intelligence

Business intelligence (BI) is an application used for giving meaning to raw data that an organization has. The raw data is cleansed, stored, and applied with business logic to be useful for enterprise users to make better business decisions. This data can be presented in the form of reports and can be displayed in the form of tables, charts, etc. which is efficient and easier to analyze and make business decisions.

During all business activities, companies create data about customers, suppliers, and internal activities. Based on these data, employees of various departments like HR, Finance, Accounting, Marketing, etc. prepare their work plan.

Business Intelligence spans a varied set of toolsets, of which the Data Ware House consolidates and loads the data from the different Source Systems, while reporting tools like Query Designer, Web Application Designer, and Analyzer are majorly used to create reports which display the data consolidated by the Datawarehouse for analyzing purpose.

Business Intelligence is an SAP product that majorly focuses on providing its customers/organizations with a user-friendly and very useful form of representing data that could be helpful for analyses purpose and making business decisions.

 

SAP FICO - Finance & control

SAP FICO is an important core functional component in the SAP ERP Central Component that allows an organization to manage all of its financial data. SAP FICO allows an organization to store a complete version of their financial transaction data. Specifically, the purpose of SAP FICO is to help companies generate and manage financial statements for analysis and reporting, as well as to aid in effective business planning and decision-making.

SAP FICO consists of two sections, SAP Finance (FI) and SAP Controlling (CO). Each of which is used for a specific financial process. SAP FI deals with overall financial reporting and accounting, while SAP CO focuses more narrowly on planning and monitoring costs. SAP FI and SAP CO were originally released as separate modules but are now so tightly integrated that many people refer to them as simply one module.

SAP FICO also integrates with other SAP Logistics Modules, Including Sales and Distribution(SD), Production Planning(PP), Plant Maintenance(PM), Quality Management(QM), and Materials Management(MM).

For more Detail on SAP FICO click here!

SAP FI modules

SAP FI enables organizations to make financial statements for reporting and analysis. Types of financial statements may include balance sheets or profit and loss statements. SAP FI consists of several sub-modules that handle specific accounting processes:

• General Ledger contains all of the company’s transaction data in a chart of accounts. This lists all of the accounts in the system. Transactions are recorded in sub-modules that can be recorded in real-time with general ledger data.
• Accounts receivable capture customer transactions and manage customer accounts. Transactions include invoice posting, credit memo posting, down payments, invoice payments, or executing customer reports.
• Bank Ledger deals with all of the company's bank account transactions and data. It can reconcile all transactions recorded on bank statements and compare them with the transactions in the system.
• Consolidation enables the company to combine financial statements for multiple entities, which provides an overview of the company's financial position as a whole.
• Funds Management manages the budgets for the company's revenues and expenses.
• Special Purpose Ledger defines the ledgers in SAP FI for reporting purposes.
• Travel Management manages all of the transactions for travel processes, including booking trips and handling travel-related expenses.
• For more Detail on SAP FICO click here!

SAP CO modules

While SAP FI deals with a company's accounting and internal and external reporting, SAP CO supports processes to plan, report on and monitor costs from business operations. SAP CO can be instrumental in improving the company's profitability. Similar to SAP FI, SAP CO is comprised of sub-modules that handle specific processes:

• Cost Elements, which provides an overview of all the company's costs and revenues based on profit and loss statements -- also known as income statements. Cost element accounting describes the origin of the costs. Cost elements represent specific costs that the company incurs.
• Cost Centres deal with the costs associated with the company's internal divisions or departments, such as sales, production, marketing, or human resources. Cost centers involve only expenses, not revenues.
• Profit Centres handles all of the cost data related to the company’s business lines. It deals with both expenses and revenues -- unlike Cost Centers, which deals only with expenses.
• Internal Orders are used to manage the costs for smaller internal projects or non-fixed assets -- like a limited-time marketing campaign, for example.
• Profitability Analysis enables the company to analyze the profitability of its products. For example, Profitability Analysis can be useful for making decisions on matters like product pricing, distribution channels, and target market segments. It also allows levels of detail in analyzing profitability, such as for each region or country, product types and distribution channels, or individual customer profitability.
• Product Costing manages data about the costs required to produce the company's goods and services. Product costing analysis can help manage manufacturing costs and optimize efficiencies.
• For more Detail on SAP FICO click here!

SAP SD

Sap Sales and Distribution (SD) is an important module of SAP ERP consisting of business processes required in selling, shipping, billing a product. The module is tightly integrated with SAP MM & SAP PP. key sub-modules of SAP SD are Customer and Vendor \Master Data, Sales, Delivery, Billing, Pricing, and Credit Management.

Features of SAP SD module

Here are some important features of the SAP SD module:

• Price and Taxation:- It helps you to evaluate the price of goods and services under various conditions like rebate or discount, which is granted to a customer.
• Availability Check:- Check the availability of a product in the warehouse of an organization.
• Billing & Invoice: Helps you to generate bills or invoices.
•  Material Determination: helps you to determine the details of materials on the basis of a certain condition.
• Credit Management: It is a method of managing the credit limits of the customers it can be figured in two different ways simple credit check and automatic credit check.
• Account Determination: helps you to determine the details of customers on the basis of a given condition type.
• For more Detail on SAP SD click here!

SAP MM

SAP MM (Material Management) Module is an SAP ERP component that helps organizations with material management, Inventory management, and warehouse management in the supply chain process. It is a part of SAP ECC’s logistics functions which consists of several components and sub-components. The most prominent and widely used components are Master Data, Purchasing, and Inventory.

All of these components have subcomponents that are essential in specific business processes, and all of the processes are executed by using transactions in the SAP MM process flow.

Transaction (in SAP) means processing certain information in order to complete business process requirements. For example, if you have purchased 10 pieces of litter buckets, you can perform a particular transaction code (t-code) that will reflect those changes in SAP. Most of the business processes involve multiple SAP transactions to be accomplished and are spread over one, two or more modules

• For more Detail on SAP SD click here!

SAP PP

SAP PP (Production Planning) is an SAP module, specially designed for integrating different departments involved in production and manufacturing. This tutorial explains some important components of SAP PP like Data Center, BOM, Work Center, CRP, and so on.

This course is helpful for managers as well as beginners who are aspired to build careers in the production area. It deals with the various department of manufacturing and production. Basic knowledge of any SAP module will be a plus.

You can refer to this link for in-depth knowledge of SAP.

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