Citation :

Parveen Singh Hoshiar Singh, 2024. "From Data to Decision-Making: Exploring SAP FICO’s Impact on CFO Dashboards and Financial Analytics" ESP International Journal of Advancements in Science & Technology (ESP-IJAST) Volume 2, Issue 4: 13-25.

Abstract :

The use of data analysis in financial management has changed the way in which the Chief Financial Officers’ decision-making procedures are handled. SAP FICO, together branded as SAP FICO, plays a paramount role in increasing the company’s financial openness, giving a detailed view into the company’s financials, and facilitating better decision-making processes. This paper aims to discuss the effects of implementing SAP FICO on the already-existing CFO dashboards and other financial analytical tools to consider, namely, having accurate data, real-time presentation of these figures, cost-saving approaches and even profitability in any given organization. Based on the discussions of various features of SAP FICO in this research, this research also shows how FICO modules in financial dashboards improve the manner in which financial data is presented, govern compliance, and enhance predictions. The study also adopts a qualitative and quantitative mix to pro­vide a contrast between a conventional dashboard and one implemented under SAP FICO. SAP FICO is highlighted in a case study whereby it demonstrates that it positively enables the CFOs to get real-time information and hence improve their decision-making. The study brings the focus back to the SAP FICO to analyze how it might benefit an organization wishing to develop a strategic approach on the financial side within its company.

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Keywords :

SAP FICO, CFO Dashboards, Financial Analytics, Decision-Making, Data Visualization, Profitability Analysis.