What is SAP Business Suite

Last time i have received a mail asking a question on What is SAP Business Suite. We think that many of our readers will be interested to know what is SAP business suite. In this article we have tried to answer that question.

Before we start let us have a small introduction about the company. This company was founded in the year 1972 by five former IBM Engineer in Mannheim, Germany. SAP stands for “Systems, Applications and Products in Data Processing”. It’s a product of “SAP AG” having its head office at Walldorf, Germany. It’s shares are listed on the Frankfurt and Stuttgart stock exchanges.

The main product is SAP ERP. The current version is ERP 6.0 ( Enterprise Resource Planning 6.0) and is part of its Business Suite.

Business suite has five enterprise applications;

  • ERP
  • Customer Relationship Management (CRM).
  • Product Lifecycle Management called (PLM).
  • Supply Chain Management called (SCM).
  • Supplier Relationship Management called (SRM).

In October 2010, This company announced the release of HANA 1.0 which is an in-memory appliance of Business intelligence allowing real-time analytics.

ERP Financials will address the financial requirements of a business starting from recording of a financial transaction to reporting. This module can be customized to all the financial challenges in the area of financial reporting, local and group closing and other requirements.

The key functionality of ERP Financials aims at giving support in the area of;

  1. Financial Accounting (FI Module)
  2. Management Accounting (CO Module)

Both these modules have sub modules to manage things better.

Note: SAP and SAP logo is a registered trademark of SAP AG in Germany and in several other countries. We are not affiliated or related to any division or subsidiary of SAP AG.

Editorial Staff at Yourfinancebook is a team of finance professionals. The team has more than a decade experience in taxation and personal finance.