Systems Applications and Products (SAP) could be best described as Enterprise Resource Planning (ERP) software made available for company usage. ERP software’s allow various companies to organize and manage business operations such as warehousing, production, finance, human resource, administration, sales and distribution in a better manner.
SAP has been bifurcated into different modules. Among the various modules, FICO is one of them. This module is designed for effectively management of reporting functions, accounting and finance. It has been regarded as an elemental module in the entire system. FICO is an abbreviation for Financials (FI) and Controlling (CO). Where the two would vary vaguely in their functions, they also co-relate to some extent. Moreover, Financials has been further bifurcated into eight sub-modules having General Ledger, Asset Accounting, Accounts Payable and Account Receivable. On the other hand, the Controlling module concentrates on management. It has been further bifurcated into sub-modules inclusive of Internal Order (IO), Profitability Analysis (COPA), Product Costing (CO-PC), Profit Center Accounting (PCA) and Cost Centre Accounting (CCA.
In case, you contemplate on how to become SAP FICO consultant, find below imperative points for your assistance.
Skills Needed for the Job Profile
A career as an SAP FICO consultant appears similar to every other job. You have to complete the degree and then apply for the position. However, the real picture is quite the opposite from what you think. Apart from your credentials, you would require particular skills to earn this well-paid job.
There have been numerous SAP tutorials available online that claim to assist you in mastering various modules without the need to sit through formal instructions. In case, you do not have requisite basic and domain knowledge of SAP, this would be most certainly a bad choice. You could make use of online tutorials with online study material provided along with formal instructions. A plethora of centers has been offering relevant training and certification in different SAP modules. You also have the option of taking FICO course. In case, you do not have time or want to be enrolled in it along with some other course, online instructions would be your best bet. Regardless the training being an expensive aspect, it is worth your time, money and effort.
Requisite Educational Qualifications
In case, you contemplate on becoming a SAP FICO consultant, you would be required to have a Bachelor’s degree as the minimum qualification. The Bachelor’s degree could be in information technology, computer programming or commerce.
Experience has been of utmost importance in this field. As a result, companies are not too keen to hire freshers, as they tend to take up plenty of precious time and money before they become competent to contribute without help. Therefore, your prime objective during the first few years should be to acquire hands-on experience in the respective field. In case, you wish to enhance your chances, you should get hold of every opportunity you avail.
A number of small and large business organizations continue to hire ERP systems for enhanced business operations, chances increase for a bigger market for FICO consultants.