Discover the benefits of Sourcing and Procurement in SAP S/4HANA Cloud 2202
Efficient procurement practices have the power to elevate the quality of your product’s life cycle. With the introduction of SAP S/4 HANA in 2015, traditional procurement practices saw a massive enhancement and several processes were made easier and more efficient. However, as businesses expanded and the competition increased, enterprises were presented with the need for a far more agile supply chain management system.
On January 26th, 2022, SAP proudly released SAP S/4HANA Cloud 2202 that succeeds its 2021 version released in October (called SAP S/4HANA Cloud 2111), providing its patrons with more advanced features that have the power to take their business to the next level.
Discover the benefits of Sourcing and Procurement in SAP S/4HANA Cloud 2202, which are as follows:
Sourcing and Procurement – SAP S/4HANA Cloud 2202’s Central Invoice Management inbound processing module extends the visibility capabilities of SAP Central Invoice Management to include supplier invoice inbound processing. With the help of the same, the customers can manually upload and update draught invoices using our SAP Business Technology Platform (SAP BTP), which is strongly connected with SAP S/4HANA Cloud. It also reads the invoice content using optical character recognition (OCR) and provides a seamless interface to SAP S/4HANA Cloud for further processing. It's a programme built specifically for accounts payable accountants that operate in a central location within a business, such as a shared services centre.
Asset Management – External communication with service providers and subcontractors is made easier with SAP S/4HANA Cloud 2202 version for Asset Management. In one place, the new 'Manage Components and Services' tool allows you to monitor and manage all externally procured materials and lean services required to complete repair requests.
Filtering for externally obtained components and services can be done using one or more maintenance planning buckets, pending procurement activities, and other criteria. The system also displays all non-stock components and lean services that fit the filter criteria.
Upgrade of Display Purchasing Document Items without GR-based Invoice Verification – By clicking on the hyper-linked purchasing document number, you may now access to the object page of the Manage Purchase Orders app.
It allows you to keep track of purchase order documents for which the goods receipt-based invoice verification flag has not been set but for which the goods receipt has been posted and returns or cancellations have occurred. The documents can further be filtered based on criteria like date function, supplier, material, material group, or plant.
Purchasing Spend Dashboard Improvements – With this enhancement in the Compliance tab, you can now view the following details for a list of purchase orders with non-compliant payment terms:
Purchase Order Net Amount
It allows buyers to see insights into their purchasing expenditures. This dashboard can also be used to track and analyse many elements of purchase expenditures. Bar charts, column charts, and tables are used to illustrate the data that has been analysed.
Enhancements in Spend Variance – The following new fields have been added as a result of this enhancement:
GR-based Invoice Verification
These fields are visible in the Document view and can be turned on and off using the Settings button. You can use this software to calculate the total value of a purchase order, goods receipt, and invoice for each supplier or material. For a given filter, it calculates the relationship between purchase orders, good receipts, and invoice value.
This is a quick rundown of the new capabilities in SAP S/4HANA Cloud 2202 Procurement Analytics. Armed with industry experts with decades of knowledge, we at Exalogic can aid the integration of the all-new SAP S/4 HANA features within your firm, so you can benefit from its upgraded features. Click here to get in touch with our consultants today and embark on a transformational journey, today!