What is the difference between SAP Fico and simple finance?

SAP FICO (Financial Accounting and Controlling) is a traditional ERP module focused on financial processing and reporting, integrating various financial transactions within an organization. It handles essential functions like general ledger, accounts payable, accounts receivable, and financial reporting.

SAP Simple Finance, part of the SAP S/4HANA suite, is an evolution of SAP FICO, leveraging the HANA in-memory database for real-time data processing and analytics. Simple Finance integrates core financial and managerial accounting with advanced features like predictive accounting, real-time consolidation, and improved user experience. It provides enhanced performance, simplified data models, and a more streamlined financial operation compared to SAP FICO, enabling more strategic and agile financial decision-making.