Want to enable efficient financial accounting practices with the SAP FICO process?
Well, business & financial accounting processes consume a lot of resources in preparing statements, reports, charts, and other data on an urgent basis.
Source: UV technocrats
The SAP training programs have been modified the way businesses conduct a highly efficient and profitable growth in the accounting industry.
What is SAP FICO?
Systems, Applications, and Products or SAP in data processing is one of the largest enterprise software applications. This software is popular for data management or ERP i.e. enterprise resource planning programs.
The SAP FICO i.e. SAP Financial Accounting (FI) and CO (Controlling) key module is used for keeping the financial data in the company to help in analyzing the financial condition. Both the FI and CO modules store numerous financial data and the tools that assist one to perform the various transactions and maintain a reliable financial system.
Is SAP FICO in Demand in 2022
SAP has implied at today’s date of applicability of SAP FICO till 2027. And it keeps expanding every year – considering the usage of FICO by businesses. So, it’s surely a great choice to start a career with SAP FICO as its demanding nature.
Top Benefits of SAP FICO Training
SAP is popular in various organizations across the finance domain. Whether a company belongs to the manufacturing, banking, or finance sector, other services handle and manage financial processes. Thus, SAP FICO training enables you to work efficiently with highly accurate data and fast processes to reach your organizational goals.
Several programs and training modules will help you master the SAP FICO within a short duration of time. Let’s see the benefits after training of SAP FICO:
- SAP FICO application increases your knowledge of the latest trends in the financial world
- provides you the ability to manage financial activities in your organization using the latest software tools
- This training enhances your professional growth and gives you better career opportunities
- Increasing value addition helps you to improve your ability to manage your financial activities.
There are various possibilities with SAP software where you can take advantage of the benefits from this application to lead the efficient financial accounting and controlling activities of the organization through implementing the training of SAP FICO module.
Training institute of SAP FICO course:
Nowadays, the scope of SAP FICO online training is rising day by day as many people are willing to attend training of SAP FICO to understand the concepts of the SAP FICO course from the best accounting training institutes. If you are a student or professional or accountant/finance manager, who desired to master the SAP FICO application, jump right ahead to the course on the financial program.
ICA Edu Skills provides training of SAP FICO courses all over India through both online and offline modes with experienced professionals who aid the students to learn SAP FICO.
Make a successful programming career with high demand for SAP FICO training. Choose the professional training institute that helps students and prepares them for a better accounting career. One can learn both basic and advanced SAP FICO knowledge through the best short-term accounting course offered by ICA.
Check out About SAP certifications
One must be SAP certified for willing to practice the SAP knowledge. A training of SAP FICO can obtain around 1500 certifications.
Today it is in high demand most learners would search for the best certification course. A specific SAP certification course is for the aspirants who want to focus on a specific area through the certification – that can represent the talent of an aspirant to showcase them to the recruiter who needs a qualified and experienced financial manager.
Best SAP FICO training modules:
Around 80 hours of SAP FICO training is for the students and professionals who are interested in SAP functionalities can join ICA Edu Skills’ SAP course. The training of SAP FICO program is in high demand because the average income of an SAP expert is between 8 – 10 lakhs PA.
Additionally, most companies (Tata, Reliance, etc.) are registered under SAP FICO financial process. A broad range of this short-term course has extensive modules following the financial activities. The course highlights one can get:
- SAP ERP & FICO overview & Navigation
- Procure to pay process
- Order to cash process
- General Ledger accounting
- Accounts payable business process
- Accounts payable closing process
- Bank related accounting business process
- Financial statement creation business process
Know the advantages of SAP FICO training modules in a business organization?
Compare to other financial software-based programs SAP FICO is the most popular application in recent situations because of its easy accessibility and quick configuration process.
If someone is pressed for a time when they want to manage a huge number of accounting and controlling activities using an efficient software system, the training of SAP FICO is the right way to look at some of the important advantages SAP FICO will bring to the business:
- Smooth & efficient financial accounting and controlling functions
- Accessibility to meet the detailed accounting reporting – Balance Sheet, Profit and Loss Statements, Accounting Analysis, etc.
- Real-time processing enables the easiest financial management decisions under one system
- Get response on business requirements effectively
- Improves business performance and strategy formation
- Transparency across the organization’s activities scheduling, financial consolidation, reporting, collaboration with other departments, and many more
- Better practices of accounting standards, government regulations, regulation of internal processes, and many other key features make the software truly versatile following a business purpose.
Empower your skill with the training of SAP FICO, lead the industry:
Any business can easily automate financial tasks, and candidates -who are familiar with SAP software are in demand these days. Make a clear vision of building a strong career in the financial industry – empower your skill with SAP training.
FI(Financial) Module in SAP FICO:
SAP FI is the core module that enables organizations to manage all financial transactions, Bank Accounting, Funds Management, Legal Consolidations, Special Purpose Ledger, Travel Management, etc. including the components General Ledger Accounting (G/L), Accounts Receivable, and Accounts Payable(AR/AP) processing, and Fixed Asset Accounting(AA).
Find the major components of the SAP Financial Accounting (FI) module –
- The Accounts Receivable purposely maintains all activities & transactions with customers and clients. This can be helpful to manage various cash flows with SAP FICO
- The Account Payables mainly tracks and manages the payable money considering the vendors or suppliers.
- General Ledger enables the reconciliation between financial accounting and management accounting based on parallel accounting concepts in SAP.
- Funds Management manages all the revenues and expenses of a company.
- The FI module is usually integrated with – Material Management, Sales, Distribution, Human Resources, etc.
CO(Controlling) Module in SAP FICO:
As the SAP FICO module manages all the external financial activities reporting, the SAP Controlling process provides operational insights through monitoring cost and decision-making ability.
Same as the SAP FI module, the SAP CO includes some of the main components to make profitability in the business workplace –
- Cost Element Accounting,
- Cost Controlling,
- Cost Center Accounting,
- Internal Orders,
- Activity-Based Costing,
- Profitability Analysis,
- Profit Center Accounting, and many more.
Career after SAP FICO training:
AS financial & accounting management are both important parts of any business organization, there is a huge scope of SAP FICO. Industries who working on the other financial model earlier are now shifting towards SAP ERP & FICO software. They can manage their business efficiently and bring transparency to Finance activity. Since SAP is the leading accounting software – become the most demanding financial software in the industrial sector.
We can get an idea of the growing demand or requirement of SAP jobs in the finance industry.
The career path of an Expertise is strategic. In project development, an SAP FICO consultant can go through some of the levels –
- SAP end-user at the beginning level
- Associate/support consultant to a super-user
- After a certain experience can become a Sr. executive or Consultant.
SAP is a booming part of the Financial industry. There can have more questions regarding the training of SAP FICO one can get. With the demand for SAP features, the aspirants need a detailed overview of the SAP application. Hope this article will help you decide to start a smooth career path in the financial industry!