These days, in the commercial business sector many industries are growing rapidly with new profit margins. Especially, IT industry is standing in front with new business streams and requirements. It is implementing new applications, modules and technologies to get more business benefits and to enhance the industrial performance. In all these business streams SAP stands first to diversify and incorporate the work process with high quality performance. It is the dynamic software module with ERP (enterprise resource planning) package. SAP stands for systems, applications and products in a data processing. Most of the IT organizations are implementing this module top get many business solutions for several hassles related top all the domains.
There are many modules in SAP such as business objects (BO), plant maintenance (PM), logistics execution (LE), process integration (PI), ABAP (advance business application programming), process integration (PI), NetWeaver, Exchange infrastructure (XI), sales and distribution (SD), Finance accounting and controlling (FICO), human resources (HR) and many more to manage several domains. These modules are divided into functional, administrative and technical domains based on their features. These are used under many business domains like developing applications, business strategies, to maintain the financial services, to administrate the storage devices and many more.
SAP FICO module is used to manage several financial services in an organization to maintain the backup. In SAP FICO, FI stands for financial accounting and CO stands for controlling. It can also be referred as FI/CO. it is the most important module in IT industry to monitor, manage and review the financial status and situation of the company. You can find the solutions for accounting requirements by planning and creating reports. With the help of this module, you can monitor the inside financial operations to manage the accounting services.
Basically, it is divided into two parts such as FI and CO. whereas FI can manage the financial aspects of the entire organization with SAP software and CO represents to cover the cost controlling and managerial aspects. It is gaining immense popularity in IT organizations to manage the entire financial operations. Due to this, there are several openings for SAP FICO jobs in IT industry. FICO comes under functional module to maintain the operations and functions of other domains like finance, human resources, accounts and many more. Individual, who wants to get a job in FICO, would be designated as a FICO consultant. As it is the functional module, there are many sub modules in this to explain the entire process of finance and accounts.
SAP FICO module is important to maintain and control finance