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What are the Career Opportunities for an SAP FICO Consultant?

sap fico consultant job

SAP, or System Analysis Product Development, is the largest software application provider for different enterprises. It is mainly used to better implement ERP (Enterprise Resource Planning). Since its installation, SAP has worked to improve IT and business management. If you are considering becoming an SAP FICO consultant, there are a few things you need to keep in mind.

Altogether there are 28 modules in SAP, of which few have mainstream importance. SAP FICO is one among them. It is primarily used to meet the financial needs of the company. 

Now let us explore the SAP FICO career opportunities available for those who have completed SAP FICO certification. 

 

Module-Wise SAP FICO Career opportunities

 

SAP FICO comprises two modules- SAP FI and SAP CO along with configuration and user management. With an SAP FICO certification, you will get the chance to work as an SAP FICO consultant, Senior Analyst Programmer, Account & Finance executive, etc. Now, let’s dive into the two modules separately.

 

SAP FI module

SAP FI module is responsible for financial management ideas in enterprises. Finance management skills are essential for any business to flourish. Manual finance accounting is a tedious and tiring process. It will also lead to errors and malpractices. Many business organisations have started implementing the SAP FI module to rectify this issue to meet their financial requirements. It also determines the financial position of the company in the market. The SAP FI module covers Account Consolidation, General Ledgers, Accounts Payable, Accounts Receivable and Asset accounting.

 

SAP CO module

SAP CO module is in charge of maintaining, planning, supervising and justifying the company’s business processes. It has a direct connection with financial accounting and organises the associated costs. It also overviews the master data that covers the information regarding internal orders, profit centres, cost elements, cost centres, etc. It is a step-by-step process which includes chasing, organising, executing and reporting. It also helps in cost head planning. It carries out cost processing based on different activities. Production costing and product variances come under their description. SAP CO components include Internal Order Accounting, Profitability Analysis, Overhead Management, Cost Centre Accounting etc.

To become a financial accountant, you must possess researching, testing and configuration skills. You must be familiar with different business practices and have management and financial accounting knowledge. It would help if you had business support to provide appropriate solutions. In short, both these modules are essential for successful business management in an organisation through financial accounting and data management.

 

Job description of an SAP FICO consultant

 

The role of an SAP FICO consultant includes implementing and configuring the system based on the business requirements, GAAP analysis, refining methods and searching for new projects. SAP FICO consultants are of two types-internal and external. External consultants install the software in different organisations; they have limited their work to only implementation. Afterwards, internal consultants take charge. They work for the company during the installation and after the project goes live.

SAP FICO consultants will be executing SAP business warehouse(BW) in projects. They guide and corporate with other consultants from PM, PS, PP and MM modules. They will have to train the newbies and end-users. They also extend their support during testing to resolve issues or errors in applied businesses and documentation. Consultants make use of all the opportunities for the betterment of business systems. You have to configure the software to meet the different requirements of the organisation.

 

SAP FICO consultant – Eligibility criteria

 

To become an SAP FICO consultant, you need at least 2-5 years of experience in SAP FICO modules like General Ledger, Cost and Profit Centre accounting, internal orders, Accounts Payable, and Accounts Receivable. A bachelor’s or master’s degree in any stream is the educational qualification you need for the post of SAP FICO consultant. It will help you in the long run if you choose management subjects like finance and accounting for your degree.

The average salary of an SAP FICO consultant in India is around six lakhs. Pay can vary depending on your company and experience. Enrolling in an SAP FICO certification program is always better to attain expertise. 

sap jobs

If you are an SAP-certified professional looking for a suitable company to start with, register in SpotGiraffe. It is an online job portal which specialises mainly in accounting jobs. They are the top accounting job provider in the country. So don’t waste your resources; trust SpotGiraffe and find yourself among the top SAP FICO consultants in the world. 

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