What Is a SAP Financial System?
SAP (Systems, Applications, and Products) enterprise resource planning software coordinates various business functions into one integrated system. Its original incarnation appeared in 1972. Since then, emerging technology has modified, improved and enhanced their software. The SAP NetWeaver is their current sophisticated platform. SAP designs systems that allow all departments to access a company-wide database to coordinate all financial, production, personnel, marketing, order fulfillment and tracking, inventory, and all other company processes.
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The Company
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Founded in 1972, SAP AG has grown from a small company with 5 employees based in Germany to more than 47,000 employees in 50 countries. Originally, SAP systems became wildly popular in the business communities throughout Europe, with their different languages and currencies conversion, which were built in to their original software. Their "R/3" version became internationally popular during the 1980s and early 1990s, generating a large expansion.
E-Business Integration
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Newer SAP systems integrate corporate e-business features. Along with these features, customer relationship management (CRM) systems and supply chain management (SCM) systems are further integrated with the primary financial database. The basics, which made SAP so popular, are still active and improved with state-of-the-art technology. Utilizing both client- and application servers, SAP uses service-oriented architecture with "open standards," permitting customers to structure their financial and e-business solutions for the specific company and conditions.
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Benefits
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With fully integrated systems, SAP allows organizations to customize their applications through their open-architecture structure. While basic accounting and financial entries and tasks are universal, companies use different account titles and functions. Instead of a "one-size-fits-all" approach, SAP systems are appropriate for different size companies, since customers can tailor their software to match their financial and operating structure. To further fine-tune financial systems, SAP offers consulting, active global support, education and custom development services for customers.
Community Support
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The SAP user community covers the U.S., Europe, and Asia, with thousands of installations, established the SAP Community Network. Sharing processes, technologies, and solutions, other users can save development time and money by employing the proven techniques and structures of other customers. By partnering developers, customers and process gurus, SAP offers effective solutions to current and future customers to maximize the ability to customize their systems. With thousands of global customers, SAP financial systems also have trained thousands of corporate accountants, financial officers and IT personnel, creating a talented pool of experienced operators and uses of their software.
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