How to Start your Career as an SAP FICO Consultant

Any candidate who desires to be an SAP FICO Consultant requires to give hard work and dedication in learning the process and configuration steps thoroughly. They have a future that evolves in the growing process.

Let us see, what is SAP FICO?

SAP FICO is an abbreviation used for two modules of SAP, FI (financial accounting) and CO (controlling). Obviously, when an organization has SAP ERP (enterprise resource planning ), they need FICO consultants to manage their Financial and controlling part that is Management Accounting

FICO is a part of SAP ERP’s ECC version(ERP central component) It is one of the top modules which is in much demand.

FI is used to present the financial statements for External purposes and CO is used for internal reporting.

Financial Accounting (for Legal Reporting)

Joint Venture Postings, Accounts Receivables, Accounts Payables, Petty cash transactions, Bank payments, FIxed asset accounting etc.

Management Accounting (For Internal cost and Profitability Reporting)

Cost of Manufacturing the Product, Product-wise, Customer wise, Region wise profitability reports etc.

SAP FICO practically covers all business cycles in the Industry

Most Importantly, you need the best SAP FICO training and Certification from the best training platform, that is to say, Henry Harvin’s SAP FICO Course and an expert trainer. Subsequently, getting certified the career openings as SAP FICO consultant also grows exponentially with extensive SAP FICO module knowledge.

Who can become an SAP FICO consultant?

• Firstly you need a proper Bachelor’s or Master’s Degree from a reputed university even ICWA, BBA, or MBA can also go for this.
• CA,CS or CFA
• Secondly, you should have knowledge of relevant subjects like Financial and management accounting, management etc.
• write your blogs while getting your degree, be active on relevant subjects so that you get hands-on on the subject. 
• Working experience on any accounting software.
• You should also have good communication skills and presentation skills with command on your language.
• Good business and banking domain knowledge.
• Get the training from the industry experts and get certified appearing the exam for example from Henry Harvin.

Why should you become SAP FICO Consultant?

• Better compensation 
• SAP FICO Certification gives people a special cushion in their career and opens immense opportunities. Many companies are looking for SAP FICO consultants especially the Big Four accounting firms: Deloitte, PWC, KPMG, E&Yand other MNC’s(Accenture, IBM, TCS)offer a package up to 5-7 LPA
• SAP FICO consultant with 4-5 years of experience can earn up to 10-15 LPA
• SAP FICO consultant with 10-12 years of experience can earn up to 25-40 LPA
• Many senior SAP FICO consultants with 20+ years of experience are earning more than 75LPA

As an SAP FICO consultant, you get respect in Industry you will be treated as a Subject Matter Expert (SME) and get to stand with Chief Level (C level) Executives spread across the globe.

You will also get a chance to become a Globe trotter as you have to travel and work on multinational projects 

And last but not least since SAP FICO is coming with innovative functionalities continuously your growing and learning opportunities never stop.

Where should I start as an SAP FICO Consultant?

• Begin with training.

Training in SAP FICO and Certification would help you to get preference above all non-certified candidates. 

•  Learn the concepts.
• Get your hands on the system. Employers would hire consequently when you have a good hands-on system. Get proper end to end training this should include practical aspects of Finance and controlling, preferably from Henry Harvin where they turn you to be a Subject matter Expert.  
• Start writing blogs / Vlogs on the topics you know.
• Get certified 
• Practise sample SAP certification questions. 
• Write mock tests. 
• Improvise on areas where you score fewer marks.
• Register for the Certification exam.
• Create a strong CV and a Linkedin profile
• Highlight all your achievements
• Highlight all your SAP FICO related strong areas.
• Mentioned about the projects you have worked on 
• Post SAP FICO related articles to get noticed by the recruiters instead of repeated emails.
• Be flexible for internships or less pay for the initial months. 

Becoming an SAP FICO consultant is not a cakewalk. At the early stage of your career, you should not expect much salary, start on a low profile moreover, you should concentrate on deep knowledge acquired in each module of SAP FICO. As a matter of fact more insight, more knowledge and a hands-on system then the sky is the limit for your career. 

How to start the Journey as an SAP FICO Consultant?

SAP FICO Course 

 This course by  Henry Harvin is ranked amongst the Top 3 courses. This is a Government of India recognised course at Henry Harvin. Get yourself enrolled for the course to start the journey as an SAP FICO Consultant.

The training course involves two essential modules SAP FI module and the SAP CO module 

SAP FI Module 

Finance is the most important part of any industry. SAP FI module has appeared as the most sought module that can be executed in most organizations. SAP FI module consists of the following components 

Account payable :

 Deals with vendor accounts and transactions that is Invoice Payments, Invoice Payment, Invoice Posting, Down payments, Automatic Payment etc.

General Ledger: 

This contains all financial transactions of the organization.

Assets accounting:

Deals with organization’s fixed assets like Building, Equipment, Land etc.

Bank Accounting:

All transactions with the bank and related data.

Funds Management:

This contains details of the Organization’s Funds that is income and expenditure. The budget is planned according to this.

Accounts Receivable:

Deals with the customer accounts and transactions such as Invoice Payment, Invoice Posting, Down Payments, Credit Memo Payments.

SAP CO Module

With the help of this module, every organization supervise, maintain, and plan various processes. The controlling module helps to view and manage the associated costs. With this module, the company can directly see financial reporting and manage records as well. Based on these reports, it can take essential business decisions. SAP CO plays a crucial role in increasing the profitability of the organization.

 Cost Centre Accounting:

Deals with expenditures on various departments in Organization.

 Profitability Analysis :

This analyses how profitable are the products. It controls the pricing and Distribution of the products, sale of the products in different regions.

 Product Costing:

This deals with the Goods and Services, this helps in Production cost and controls profitability factor.

Internal Orders: 

Deals with costs of non-fixed assets like Marketing 

Cost Element Accounting:

This is the P&L of the organization. This gives the idea of the cost incurred by the organisation with income statements and details of the profit and losses of the organization.

The outer Reports created with SAP FICO modules are majorly used by investors, banks, managers, and Assessment experts 

About The Certified SAP FICO Training at Henry Harvin

Duration :

• This is 44 hours an Instructor-led Training and Certificate program.
• Post that 24 hours of Bootcamps spread over the next 12 months 
• Attend unlimited batches for the next 1 year from the date of Enrollment.

Trainers :

Trainers at Henry Harvin are the most respected industry experts with 10+ years of experience.

They are invited for 100+keynote classes for SAP FICO training 

They are the Domain Experts and have delivered 500+ lectures 

Trainers are associated with the Placement Cell of multiple organizations to help and assist candidates for placement.

Projects:

Gather experience with Real-world assignments and practical Projects 

Certification:

Post successful completion of the course you can earn SAP FICO Practitioner Certification.

Henry Harvin provides 1-year membership along with 

• E-learning access:access to recorded videos,games,projects,case studies.etc.
• Monthly Bootcamp sessions: Brush up your concepts with our regular Bootcamp sessions held every month by the experts in the field specifically targeted to make you industry-ready.
• Job Opportunities and Internship: SAP FICO graduates get 100%placement assistance and internship opportunities with Henry Harvin or partner firms.
• Interview Guaranteed: Support in facing and clearing the interviews
• Complementary modules: Gain exclusive access to Complimentary Modules, namely, Soft skill Development and Resume writing along with the course curriculum of the certified SAP FICO Training course.

Key Features

Ranked amongst Top 3

Henry Harvin’s Certified SAP FICO Training course is ranked amongst the top 3 courses in the Industry by Training 360

Attend Unlimited Sessions with Multiple Trainers 

This means you can attend unlimited batches with different Trainers.

Mobile App Access to Moodle E-learning Portal 

You can access the learning management System (LMS)on the go 

12+ Bootcamp sessions to Brush up Concepts as Part of #AskHenry Series

24/7Lifetime Support &Access

Live projects+Internship+Weekly Job Support +Recorded videos +Monthly Bootcamps +Interview skills+Career services 

Hallmark Of CSFP Practioner Next to your Name 

Attain a globally acclaimed testimonial of Certified SAP FICO Practitioner Certification after the training.

Live projects

Experience Hands-on training with industry projects during the certified SAP FICO Training course.

SAP FICO certification is proof that you have taken a big leap in mastering the domain.

So Hurry up! get enrolled in Henry Harvin, for the SAP FICO Certification and training.

Contact  [email protected]

+91 9891953953

Total investment to start the journey of an SAP FICO Consultant

Max, you would require less than 30K, training fees at Henry Harvin plus Certification along with your perseverance and hard work.

SAP FICO Career path

The career growth of SAP FICO is strategic. So If you go step by step, It is definite to reach the Leadership roles in a few years. 

Job profiles in SAP FICO work in sync with job roles. You should understand the roles and upskill yourself accordingly. 

As a beginner SAP FICO fresher would join as an associate consultant. After working for 1-2 yrs you can get the opportunity to work as Consultant. Again after 2-3 years and with more experience you would become a senior consultant. Further more experience, you can climb the ladder from Manager to Senior Manager and Finally ascend the leadership roles    

What are the roles and responsibilities of an SAP FICO Consultant?

• Configuration of functional modules FI and CO in SAP ERP system.
• Implementation of Finance and Controlling(FI-CO)in the SAP ERP Database.
• Resolving issues on day to day relating FI &CO as support.
• Integration with Material Management(MM), Production(PP),Sales & Distribution(SD).
• EndUser interaction to collect business requirements.

Is SAP FICO certification mandatory?

SAP FICO Certification is not mandatory, yet recommended. Many companies need proof of your knowledge and the job offered needs practical Knowledge. When you mention it in your resume, it attracts the employer’s attention. You do stand a good chance for the interview call. 

Not to forget that SAP FICO is a brand when you become the Ambassador of that brand employers trust you.

How to win over your interviewer and get the job?

A Good resume configured with proper educational qualifications and SAP FICO Certification will get you many calls, but it’s the interview that seals the deal. When interviewing for a position in Finance, your potential employer may ask you questions that test your understanding of systems. That is the reason why you should be thorough with the working knowledge of modules and hands on the system.

Study well for the interview well in advance that will help you to construct thoughtful and comprehensive answers to the questions you might encounter.

Here are some SAP FICO interview questions you may encounter.

1. Why would you use SAP FICO over other approaches?

Employers ask this question to know how well you understand the advantages of SAP FICO.

Your answer should be, 

SAP FICO is more flexible than any other approach. It gives you more options for accounting integration and control. Unlike some other systems, SAP FICO lets you control Financial statements that include multiple currencies.

2. Why are Financial statements necessary for a company?

While answering this question explain to the interviewer you understand why, how and when to generate Financial statements, explaining this it assures your employer that you have the expertise needed to manage their financial data.

3. What are some common reasons for errors in accounting, and what impact can they have on an organization?

When you have done the projects you must have encountered a few, so let your interviewer know that you can observe the errors the common ones and the solutions for it. List some examples of errors that a user can make in SAP FICO.

Such and many more, Henry Harvin prepares you very well for interviews too.

One important thing is the interviewer also looks at the soft skills apart from professional qualifications.

 Looking at your resume they have already made up their mind, but to ascertain whether you actually know the job they call you for the interview. You will now be marked on aspects like Personality, conduct, maturity, resourcefulness, and integrity.

Conclusion

In the coming years, there will be immense interest in SAP FICO which is useful as a career and it is certainly the most generously compensated SAP module.

So the crux of the matter is you need Certification, Training on SAP FICO, but whatever you have learned during the training is an end-user activity that is not enough,

You need a research-oriented approach in SAP project implementation

Keep your mindset Analytical and dynamic with a clear outreach.

Hope this post will sort out all your questions on How to start a career as an SAP FICO Consultant

I am pretty sure that you can steer your career as a successful SAP FICO Consultant.

Good luck!

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• 10 Best SAP Training Institutes in India
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• Top 35 SAP FICO Interview Questions and Answers
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