SAP FICO Techno-Functional Consultant

Job : SAP FICO Consultant About Client : We are a preferred and trusted Technology Consulting and Development Partner for global enterprises, from start-ups to Fortune 500s. Work with different stakeholders of the knowledge value chain to provide the Business Intelligence, Data Analytics and Technology solutions which enables them to make the informed decisions and solve the business challenges. Our Services include Business Intelligence, Data Analytics, Data Visualization, Artificial Intelligence, Power BI Services, Power Apps, Power Automate, Product Development, Generative AI, Low-Code/No-Code, Microsoft Fabric. We have been in the market for the last 10 successful & progressive years with 100 successful delivery of projects. Cient started its regional office in the USA in 2023. It has an extensive Global Experience & Capabilities to provide Technology support in a major part of the world. SAP FICO (Finance and Controlling) modules form the backbone of financial accounting and internal costing for enterprises. The SAP FICO Consultant is integral in implementing, customizing, and optimizing these modules to meet business and financial reporting requirements. The consultant's main responsibility is ensuring that SAP FICO configurations support the finance department's needs, ensuring efficient financial management, regulatory compliance, and reporting accuracy. Discuss the importance of these roles in large enterprises across various industries, including manufacturing, retail, healthcare, and financial services. Key Responsibilities : A. Financial Accounting (FI) Module Configuration : General Ledger (GL) : - The consultant will ensure that the General Ledger (GL) is configured to handle various transaction types. This includes defining the chart of accounts, fiscal year variant, posting periods, and key features such as automatic postings. - The consultant will set up the GL for cross-functional integration with modules like MM (Material Management) and SD (Sales and Distribution). - Configuration of the document types and posting keys for the GL is crucial to ensure that financial data is correctly recorded. Accounts Payable (AP) : - Configure the Accounts Payable (AP) module to manage vendor transactions, payments, and invoice processing. The consultant will work on : - Payment terms and methods, Invoice verification and payment processing, - Integrating AP with MM to manage purchase order transactions and goods receipts. Accounts Receivable (AR) : The consultant will configure Accounts Receivable (AR) for handling customer invoices, payment terms, dunning for overdue payments, and integrating AR with the SD module to ensure accurate billing processes. Asset Accounting (AA) : The consultant will configure Asset Accounting (AA) to track the life cycle of fixed assets : - Depreciation methods (e.g., straight-line, declining balance), - Capitalization of assets and their depreciation, - Asset disposal and revaluation processes. B. Controlling (CO) Module Configuration : Cost Element Accounting : Cost elements are the foundation of Cost Accounting. The consultant will set up primary cost elements (direct costs like material costs) and secondary cost elements (internal allocations like overhead costs). Cost Center Accounting : Set up cost centers to allocate indirect costs to the relevant departments or business areas. This allows businesses to analyze cost consumption by different segments of the organization. Internal Orders : Configure internal orders to track costs for specific projects, campaigns, or internal activities. Internal orders allow for tracking of short-term or one-off costs that do not belong to a specific cost center. Profitability Analysis (COPA) : COPA configuration focuses on analyzing the profitability of various segments such as product lines, customer groups, or market regions. The consultant will work on defining characteristics and value fields to track profitability. C. Integration with Other SAP Modules : An SAP FICO consultant works across different modules to ensure smooth data flow : SAP MM (Material Management) : Integration with the MM module for managing procurement and inventory. This integration allows real-time financial data capture when goods receipts are posted, affecting the inventory value and cost of goods sold. SAP SD (Sales and Distribution) : Work closely with the SD module to ensure that sales orders, invoices, and billing are accurately reflected in Accounts Receivable. The consultant will ensure proper revenue recognition as well. SAP HCM (Human Capital Management) : Integrate payroll and employee-related expenses with finance to ensure that employee costs such as wages, bonuses, and benefits are accurately posted in the system. D. Reporting and Financial Statements : Balance Sheet, Income Statement, and Cash Flow : - Configure reports for accurate balance sheet, income statement, and cash flow statement generation. This configuration is necessary to comply with local regulations (e.g., IFRS, GAAP) and provide internal management with insights into financial health. Variance and Cost Reports : The consultant will configure variance analysis reports to compare actual performance against planned budgets and identify discrepancies. Profitability Analysis Reports : Set up reports to help analyze profitability across various segments, such as different product lines, customer types, or regions. E. Tax Configuration and Compliance : - Tax configuration is critical for compliance. This section covers : - Setting up tax codes and jurisdictions for VAT, GST, and other regional tax requirements. - Configuring tax reporting tools for countries that require tax reporting (e.g., VAT returns, GST reconciliation). F. Master Data Management : - Manage master data such as vendor, customer, and GL accounts. - Ensure that cost centers, profit centers, internal orders, and cost elements are properly maintained. - Maintain accuracy and integrity of data across the SAP system. G. System Testing, Go-Live, and Post-Go-Live Support : Unit Testing, Integration Testing, and UAT : Test each configuration for accuracy and ensure proper integration between FICO and other modules. User Acceptance Testing (UAT) ensures the system functions as expected in the business context. Go-Live and Hypercare Support : Provide support during the Go-Live phase to ensure smooth business operations. Offer post-go-live assistance to resolve issues and ensure users understand how to utilize SAP FICO effectively. H. Troubleshooting and Issue Resolution (500-700 words) System Errors : Address any issues related to financial transactions, posting errors, and discrepancies in data. User Support : Troubleshoot user errors related to incorrect posting or misunderstanding the system's financial functionalities. 3. Required Skills and Experience A. Core Skills : SAP FICO Configuration Knowledge : Proficient in configuring the FI and CO modules and understanding transaction processing and reporting. Cross-Module Integration : Deep knowledge of integrating SAP FICO with MM, SD, HCM, and other relevant modules. Financial Reporting : Strong experience in setting up financial reports, understanding accounting principles, and configuring reports for management and regulatory compliance. B. Technical Skills : ABAP Knowledge : Understanding of ABAP (Advanced Business Application Programming) for custom development and troubleshooting. SAP S/4HANA : Familiarity with SAP S/4HANA for cloud and on-premise configurations. SAP Fiori : Knowledge of SAP Fiori and how it integrates with the FICO module for reporting and end-user experience. C. Certifications : SAP FICO Certification : Having certification in SAP FICO proves expertise and proficiency in the modules. Project Management Certifications : PMP or Agile certifications can help in managing projects and leading cross-functional teams. 4. Behavioral and Soft Skills : A. Communication Skills : Effective communication is essential for an SAP FICO consultant to explain technical details to non-technical stakeholders, particularly finance managers and C-level executives. B. Analytical and Problem-Solving Abilities : The consultant must be analytical, able to identify complex issues, and provide creative solutions to optimize financial processes within SAP FICO. C. Client-Facing Skills : Strong interpersonal skills are necessary for working with clients, understanding their business needs, and presenting solutions that align with their financial goals. D. Project Management Skills : Knowledge of project management methodologies like Agile and Waterfall is a plus, as many SAP FICO consultants manage implementation projects. 5. Industry Experience : This section will focus on SAP FICO consultants' experience in specific industries : - Manufacturing : Experience in costing for production and supply chain management. - Retail : Understanding how to manage retail accounting and inventory costing. - Financial Services : Configuring complex financial regulations for investment companies or banks. - Healthcare : Working with financial reporting and cost controls specific to healthcare organizations. 6. Education and Qualifications - Bachelor's Degree : Typically in Finance, Accounting, or Business Administration. - SAP FICO Certification : Recognized credentials from SAP to demonstrate expertise. Advanced Qualifications : An MBA with a focus on Finance, or certifications like CPA or CFA can be an asset. (ref:hirist.tech)

Location: in, IN

Posted Date: 2/14/2025