Introduction
SAP FICO is one of the most useful modules in the SAP ERP platform. Systems Application and Products in Data Processing (SAP) is an Enterprise Resource Planning (ERP) framework offering various services for businesses like Human Capital Management, Finance Management, Sales, etc. The SAP FICO module consists of two modules, the SAP Finance (FI) module, and SAP Controlling (CO) module. The SAP FICO allows companies to store the complete versions of financial transaction data. While the SAP FI module implements different tasks related to Financial Reporting and Accounting, the SAP CO module plans and monitors the costs of an enterprise.
SAP FICO can be easily integrated with other SAP modules like HR, production, inventory, etc. This platform has features like easy compatibility, quick configuration, easy integration, and so on. Companies increasingly use the SAP FICO platform to streamline their financial tasks. This has led to a significant rise in the demand for SAP FICO experts in the industry. Various institutes offer SAP FICO training for aspiring professionals. One can check the SAP FICO Certification Cost and join training institutes to grow professionally. Some career options with SAP FICO include SAP FICO Consultant, Account and Finance Executive, Senior Analyst Programmer, etc.
This section explains the various roles and responsibilities of an SAP FICO Consultant and how someone can become one. Read on to learn more.
Roles And Responsibilities of SAP FICO Consultants
The SAP FICO Consultants are responsible for the system configuration and implementation of the SAP FICO module based on the requirements of the business. In addition, these professionals refine the methods, perform GAAP analysis, and start new projects. SAP FICO Consultants are of two types: External and Internal. While the External Consultants are part of the implementation team, and their work ends after a project goes live, the Internal Consultants work for a company during the implementation and after the project goes live.
Let us look at the major responsibilities of SAP FICO Consultants.
- SAP FICO Consultants are responsible for executing the SAP Business Warehouse (BW) in the projects.
- The SAP FICO Consultants guide other consultants from PS, PP, PM, and MM modules of the SAP platform.
- SAP FICO Consultants are responsible for training newcomers and the application’s end users.
- SAP FICO Consultants support the testing processes to discern various issues and errors in the documentation or applied business processes.
- The SAP FICO Consultants use every opportunity for the improvement of the business systems.
How To Become an SAP FICO Consultant
Let us look at how one can become an SAP FICO Consultant.
Education
To pursue SAP FICO, it is beneficial for aspiring professionals to have subjects like financial and management accounting and management for their Bachelor’s or Master’s Degree programs.
Experience In SAP
Aspiring SAP FICO Consultants must have at least 2-5 years of experience in the SAP FICO modules. They must have significant knowledge of the FICO sub-modules like Cost and Profit Centre Accounting, Internal Orders, Accounts Payable, Accounts Receivable, and General Ledger.
Additional Tips To Become A SAP FICO Consultant
Aspiring professionals are suggested to join the SAP FICO Online Training course to learn the best SAP FICO skills. Such training courses are designed per the latest industry-relevant techniques and help one learn all the latest techniques as a professional. Furthermore, one must engage with the SAP FICO communities to get all the latest updates on this platform and learn more.
Conclusion
To sum up, SAP FICO is one of the most beneficial modules developed by SAP to facilitate enterprises. SAP FICO combines two SAP modules, the SAP Finance (FI) module, and the SAP Controlling (CO) module. While the SAP FI module implements different tasks related to Financial Reporting and Accounting, the SAP CO module plans and monitors the costs of an enterprise. Together, the SAP FICO module allows organizations to store complete versions of their financial transaction data. The SAP FICO module can be easily integrated with other SAP modules like HR, production, inventory, etc., and comes with features like easy compatibility, quick configuration, easy integration, and so on.
Some career options with SAP FICO include SAP FICO Consultant, Account and Finance Executive, Senior Analyst Programmer, etc. Among them, SAP FICO Consultant is one of the most prestigious and highly sought-after job roles in the industry. These professionals are responsible for the system configuration and implementation of the SAP FICO module based on the requirements of the business. In addition, they refine the methods, perform GAAP analysis, and start new projects. Moreover, the SAP FICO Consultants execute the SAP Business Warehouse (BW) in the projects and guide other consultants from the SAP platform’s PS, PP, PM, and MM modules. Additionally, the SAP FICO Consultants train the application’s newcomers and end users and work to improve the business systems.
