Why do companies opt for SAP FICO?

SAP offers a plethora of ERP solutions to businesses, one of which is SAP FICO. There are many online course providers that are offering Sap fico Online Training Course, however, it is advisable to choose one that allows you to train with certified SAP professionals or experts, so that you can learn from the one who already has extensive knowledge in the field of SAP FICO. Multisoft Virtual Academy is one of such online training providers that allows you to train with certified industry experts and offers additional benefits like lifetime e-learning access, recorded training session videos and after training support.

What is SAP FICO?

As we have mentioned before, SAP is an ERP solution provider, wherein FICO stands for Financial Accounting and Controlling. SAP FICO Application allows users to do financial reporting both internally and externally.  It enables to track all the financial transactions poste by an entity to generate financial statements.

SAP FICO is majorly based on two modules, where the SAP FI module enable to perform financial accounting and reporting, while the CO module offers functionalities to simplify and perform financial planning and cost monitoring. In conjunction, both the modules form SAP FICO, which helps users to take better financial decisions.

Here’s how SAP FICO software enables companies to improve financial operations:

• The application offers a single location to generate all accounting data of a business and manage finances.
• SAP FICO can be easily integrated with other SAP modules, such as Production Planning and Material Management, which further enhances the decision making process.
• All the transactions can be updated in real-time in the Financial Accounting modules. Hence, transaction data properly can be stored properly, which also improves account management.
• User can easily automate credit collections and management through SAP modules.
• Its easy invoice payment process enhances the accounts payable and accounts receivable functions.
• It allows companies to handle their finance across countries in a secure SAP FI environment.
• The SAP CO module allows to easily monitor and reduce, planning, monitoring, and reporting costs. This module is also used for procedures, such as observing and analysing outflows needed for financial reporting.

If you want to gain in-depth knowledge about this software and master skills to efficiently run SAP FICO, enrol for SAP FICO Certification Training Course from Multisoft. You won’t just learn the necessary skills, but also earn a globally-recognized online training certificate after successful completion of the course. 

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About the Author

Shivali Sharma

Shivali is a Senior Content Creator at Multisoft Virtual Academy, where she writes about various technologies, such as ERP, Cyber Security, Splunk, Tensorflow, Selenium, and CEH. With her extensive knowledge and experience in different fields, she is able to provide valuable insights and information to her readers. Shivali is passionate about researching technology and startups, and she is always eager to learn and share her findings with others. You can connect with Shivali through LinkedIn and Twitter to stay updated with her latest articles and to engage in professional discussions.