This brief listing of functionalities is based on a new blog post by Sven Denecken, Head of Product Management and Co-Innovation SAP S/4 Hana. In it, he describes the functionalities of SAP’s most recent S/4 Hana Cloud 1902 release. He talks about how it is supposed to benefit companies; helping them to be both agile in their business as well as flexible in their operation.
This is supposed to be made possible by a range of new functionalities adding to the ones of the November release. “Last November’s SAP S/4 Hana Cloud 1811 release enabled next-generation business processes by bringing better insight and greater connectivity. The new features and capabilities of the S/4 Hana Cloud 1902 release take innovation a step further to offer enhanced flexibility”, explains Sven Denecken.
Who’s S/4 Hana Cloud for?
Especially the manufacturing industry can look forward to extensions of the former release in warehouse, transportation, and service management. The new release enables businesses to for example inspect products before storing it in the warehouse. Or to get the freight cost broken down at the level of each delivery item based on gross weight. Or to synchronize external service orders and service confirmations through APIs. The possibilities are manifold.
There’s also a functionality for professional services: time-based revenue recognition per IFRS15 (International Financial Reporting Standard). It is supposed to cover multi-element arrangements of provider contracts in contract accounting and invoicing.
One functionality that benefits all industries is advanced financial closing. It “supports periodic recurring closing activities where multiple responsible persons are involved and activities are performed in a fixed chronological or dependent sequence – resulting in faster closing through improved closing efficiency, governance and compliance, and transparency and accuracy”, Sven Denecken writes in his blog post. This way, customers are supposed to be able to deploy finance professionals to forward-looking activities, driving innovation and growth.
With the new S/4 Hana Cloud, SAP is trying to enable customers to be more responsive and also more agile. This is “to meet the challenges of a dynamic shifting marketplace now and beyond”, Sven Denecken writes in his blog post.