In today’s technological world, IT industry has new innovation trends to enhance their business in all streams. There are numerous organizations, which are working under IT sector to improve the business performance. Many streams are used in this IT organization to develop and operate multiple applications and programs. SAP is a dynamic package used to integrate and diversify the work process with high quality multi dimensional compatibility. SAP is abbreviated form of systems, application and product in data processing. There are many modules in SAP like functional and technical modules. They are SAP ABAP (advance business application programming), NetWeaver, process integration (PI), business intelligence (BI), business objects (BO), logistics executions (LE), plant maintenance (PM), sales and distribution (SD), exchange infrastructure (XI), finance accounting and controlling (FICO) and many more. All these modules are used to manage different stream lines in an organization.
Out of all these modules, SAP Fico is most important one for all organizations in all industries to manage the finance and accounts. Managing accounts and finance is an important task for any industry. Organizations maintain the external data reports for financial process transactions. It is ERP (enterprise resource planning) software to manage various aspects in business like procurement, logistics and many more. FI module is incorporated with parallel modules to enable the unified process of a company, which needs the utilization of multiple software packages. FI has a role of incorporation with other modules like human resources (HR), material management (MM), sales and distribution (SD), Controlling (CO) and many more. Out of all these supporting FI modules, CO (controlling) is the major one that pairs up with the finance, budgeting, accounts, auditing, financial reporting and many other accounting professions.
In SAP FICO, there are numerous sub modules to explain the financial process of accounting. They are accounts payable (AP), bank accounting (BL), asset accounting (AA), accounts receivable (AR), general ledger accounting (GL), legal consolidations (LC), travel management (TM), funds management (FM), and special purpose ledger (SL). All these modules are helpful for any organizations to maintain their financial data and to have the standard format of data processing. Many organizations are offering multiple openings for SAO FICO jobs to maintain the financial or capital projects. People should have depth knowledge on financial process. They should be capable to manage and operate the FI and CO modules. They should have the experience in handling multiple projects and be capable to know about the entire financial accounting processes. Hence, there is a good scope for this field in IT industry.
SAP FICO is gaining immense popularity