SAP FICO Consultant : Job Description

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ByMindquest

Published27 February 2020at12:01, updated on09 August 2022at14:26

SAP FICO Consultant : Job Description cover

SAP FICO is a functional component of SAP ERP, used in many large companies to generate and manage financial statements. It is used for reporting, but also for analysis for decision-making. Explore the role of the SAP FICO Consultant


Learn more about SAP careers from this SAP project management expert. You might also want to explore the role of the Salesforce Consultant

Above all, this component is divided into two modules: SAP FI (Financial Accounting) for the Finance part and SAP CO (Controlling) for the Management control part:

  • The SAP FI module allows companies to generate financial statements such as balance sheets or profit and loss reports. It is itself made up of secondary modules dedicated to specific accounting processes: Customer Accounting (FI-AR), Fixed Asset Accounting (FI-AA), General Ledger (FI-GL)…
  • The SAP CO module manages the planning, reporting and supervision of operational costs. A determining module to improve the profitability of a company, it is also composed of secondary modules: Cost control by product (SAP CO-PC), Accounting (SAP CO-OM-CEL), Analysis of the income statement ( SAP CO-PA)…

The SAP FICO consultant is an expert on these specific modules. Before installing the software, their primary role is to analyze and define the needs of the company. They can then have an advisory or support role.

What is the role of the SAP FICO Consultant?

Analyze and assess user needs

Before installing the solution, the SAP FI / CO consultant must analyze and understand user needs. As a result, they will be able to precisely define which functionalities to configure.

Solution and functionality development

Once the assessment is completed, the role of the consultant is to implement the solution. His knowledge of business case allows him to develop tailor-made functionalities to fully cover the needs of the company.

Train future users

Once the solution is installed, the SAP FICO consultant must ensure that future users can handle the software. They then train future users and can be taken to play a support role in the event of any problems.

Required skills of the SAP FICO Consultant

How to become a SAP FICO consultant? Here is a list of the skills needed to succeed in this career.

Technical expertise

As an expert, mastery of the SAP FICO modules is obviously essential. The consultant must have very good technical knowledge in order to be able to fully meet the client’s needs and to develop suitable functionalities. But also to validate and document the project requirements.

Knowledge of accounting, corporate finance & management control

Firstly, business knowledge is essential for the FICO consultant: they must master and understand the end user’s problems, as well as the business processes involved, to set up suitable workflows in the information system.

A good analytical mind

Soft skills are also essential. The SAP FICO consultant must be able to better analyze the processes and business lines of the company, to determine if the necessary functionalities fall under a standard use of SAP FICO or if they require custom development. They also often act as an intermediary between technical teams and trades.

Listening skills and pedagogy

Then, to better understand the needs of the company, the SAP FICO consultant must have good interpersonal skills and always remain attentive to their client and future users to assess their needs. Likewise, once the solution has been implemented, the consultant will have to provide training for future users: being a good communicator and teacher is therefore very useful.

Context

The SAP FICO consultant plays an important role during a digital transition. It is usually the large companies that use this type of profile. Recently, some SMEs have integrated this tool into their activity to gain competitiveness. Today, the needs of companies in SAP FICO expertise are numerous.

Salary of the SAP FICO Consultant

How much does a SAP FICO Consultant make? The average daily rate of a SAP FICO consultant is between €400 and €1000. It obviously depends a lot on the level of experience and expertise of the consultant.

Training of the SAP FICO Consultant

The FICO functional consultant can come from a business school with a finance option, an engineering school, or even from an accounting background. It is generally necessary to pass the various SAP certifications concerning the SAP FI and SAP CO modules, as well as to have several years of experience in the implementation and support projects.

In conclusion, the classic evolution of a SAP FICO consultant consists of being entrusted with increasingly important integration missions, and in supervising a team.

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