Discussion 2.1 - Discussion Clarification and QA.

1.
Contract Management
The practice of managing contract creation, implementation, and analysis to increase operational
and financial performance while lowering financial risk within an organization is known as contract
management. It is when an individual gains control over managing contracts for clients, suppliers, or other
parties. The SAP S/4 HANA will take into place which the organizations can utilize to effectively manage
their management. This will reduce the financial risks that company’s may face due to a vast level of
pressure to cut costs and boost performance at the organization. In that way, I learned with SAP S/4 HANA
source assignment to operational demands is supported by both automated and manual processes. By
using S/4 HANA, users can track contracts in the contract work list to acquire real-time details on their
status, consumption, and validity. Overall, monitoring complicated contracts can be made simpler by using
contract management software rather than using paperwork.
2. Logistics: Procurement Transfer Stock
For many organizations to continue operating, procurement is an important part. Procurement
management is accountable for managing every step in the process of procuring the goods, resources,
services, and products required for effective corporate operations. When optimized to save money, time,
and resources, procurement can be used as a competitive advantage rather than just a company need. But
cutting costs by avoiding mistakes and delays and making the most of available resources is only one of
the ways procurement management contributes to a company's bottom line. Performing the procurement
and trasfer stock is important for a business to verify that everything is on track and that the services or
goods are delivered when specified in the contract. From this, users can use the SAP Fiori App “Manage
Purchase Requisitions to perform the procurement and transfer stock. It is a crucial role to make sure that
the stocks are well managed which can reduced the operating costs, enhanced service quality, streamlined
business procedures, and efficient supplier management. To guarantee that everything is on track and that
the goods or services are delivered on time as specified in the contract, we must continuously examine and
monitor the suppliers in order for the procurement process to go smoothly.
3. Sap Simple Finance - General Ledger
General Ledger Accounting is a record of all previous business transactions that is maintained by
the accounts department. It serves as a model of the financial data record-keeping approach used by a
company, with credit and debit account records evaluated using a trial balance. Also, it provides a record of
each economic transaction that occurs throughout the course of an operational firm's existence and gathers
account information needed to create the company's financial statements. To simplify this, users can use
app Display G/L Account Balances in SAP Fiori Lunchpad. I learned that it will become easy for the user to
present data in multiple currencies for the cross-fiscal year and compare the balances as well as the credit
and debit amounts in a fiscal year. Users can export the list to a CSV file or compare the statistics for the
current fiscal year to past fiscal years. In conclusion, the G/L Accounting that is vital for a organization to
keep their record on track and can provide details about the company’s performance.
4. Maintain Business Partner
Businesses are usually engaged in lots of transaction during the course of the business operation,
that’s why usually, the Accounts Payable process of some of supplier’s information changes. In that case, I
learned that we need to update the business partner master data to provide reliable and relevant
information. With the use of SAP S/4 HANA, users can centrally manage the master data for business
partners, customers, and vendors/suppliers. I learned that using the app Maintain Business partner, I can
easily maintain the master data and I can receive the Business Partner ID number after saving my entries. I
am excited to do this kind of activity because the app is very dynamic and flexible in searching the supplier
invoice which is a big help for the user. Overall, this lesson is very interesting because of the features in the
app as well as it is very dynamic. Maintaining business partner would be easy through this app since lots of
transactions are all at risk if it is not manage correctly.
Honor Pledge
“I affirm that I have not given or received any unauthorized help on this discussion and that this work is my
own.”

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