SAP is the acronym for ‘System Application and Products’. It was found in the year 1972 by 5 IBM employees in Germany with the aim of assisting businesses in managing their operational processes.
SAP gives 360-degree control over the various operations of a business including materials, plant, personnel, marketing, cost accounting, document management and so on. SAP runs on R/3 framework and is compatible with most OS including Windows Server technology. SAP has recently inked a deal with Apple to create more powerful and user-friendly ERP applications.
Read: SAP and Apple join forces
Over the past couple of days, SAP has grown into one of the world’s most elite Enterprise Resource Planning applications. In fact, it is considered as the right fit to explain an ERP since it exhibits all the traits of a new-age ERP in full detail.
SAP FICO (Finance and Controlling) is one of top selling and widely used modules of SAP. As the nomenclature explains, SAP FICO is primarily used by enterprises with globe-spanning businesses handing millions of financial transactions in a single day. IBM, Microsoft, Adidas, etc. are some the noted users of SAP ERP.
The need for SAP certification in present day scenario
The demand for SAP professionals amplifies the need for professionals to take up SAP FICO training. Middle level finance managers as well as higher level management personnel need to possess SAP FICO certifications in order to meet their job responsibilities with ease.
The following advantages assert why securing a SAP FICO certification is a must in today’s business environment:
Lucrative remuneration
A SAP professional working with Federal Departments earns anywhere in between $80,000 to $165,000. SAP professionals working in private sector earn anywhere from $82,500 to $113,700. In the case of experienced SAP professionals, the remuneration will be upped from $92,000 to $140,000 or in the range.
In other words, SAP certification is the gateway to a career that pays well. Combined with other academic credentials like MBA or CPA, it can fuel tremendous career growth for an individual.
Diverse job opportunities
At least 70% of the Fortune 500 companies use SAP as their preferred choice of ERP. This gives an individual with SAP FICO Certification numerous possibilities of pursuing a career in a cross-section of industries.
Unlike other professional streams where the routine operations are more or less similar, SAP offers challenging and intellectually stimulating work experience. It is indeed fulfilling and promising for the present and future.
Eligibility for SAP FICO certification
The specific prerequisites for each module in SAP FICO will vary from course to course. However, domain knowledge in the chosen module, eg: costing, inventory, accounting, debtors, etc. will be expected of a student on a ground level.
SAP certifications are mainly of 2 broad categories: Functional and Technical. The technical deals with the core installation, configuration and application in SAP in the given operational environment.
Whereas, the functional side is used for real-life processes like account creation, journal entries, inventory booking and so on.
Both functional and technical aspects of SAP FICO use the same transaction codes. It is only how they use that differs based on the choice of candidate. The functional side is more for routine users of ERP for meetings the needs of their operational roles. Like, accountants, senior account manager, CFOs, etc. The technical side is relevant for IT professionals who want to venture into SAP Implementation and Configuration as a SAP Consultant or as a full-time employee.
SAP FICO training and development imbibes in a student ground up learning about SAP FICO transaction codes and how they have to be used for generating desired reports and exceptions. The training process will groom a student to become eligible for seeking middle-level and senior-level job opportunities in multi-national corporations conducting large volumes of transactions on a daily basis.
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