Systems Applications and Products in Data Processing or SAP is the most powerful Enterprise Resource Planning System (ERP) currently. P It comes with a range of end to end business solutions by utilizing a re-engineering software included within the system. here is the list of highest paying SAP modules.
SAP has come a long way since 1972 when it was founded by IBM engineers Hopp, Tschira, Wellenreuther, and Plattner. The latest SAP version HANA, released in 2016, has already gained credibility across all leading development companies.
HANA specializes in running on both personal computers and cloud computing platforms. It is suitable for students, small scale developers as well as for big corporations.
However, on this blog, we shall supply informational out the highest paying SAP modules that will be on great demand in 2020. These modules will be a good resource or backup for freelance SAP consultants to start their career or find a job.
Highest Paying Sap Modules
SAP is implemented by many organizations across several industry verticals for their day-to-day business operations. Currently, SAP is the third largest Independent Software Supplier across the world with more than 12 million users across 180 countries, more than 1500+ partners, 25+ industry-specific solutions and around 130,000 installations worldwide.
Industries or Businesses where SAP is employed in are:
- Telecommunications
- Life science
- Pharmaceuticals
- Education
- Healthcare
- Aeronautics
- Automobile
- Multimedia
- Oil and Gas
- Education
- Finance
- Defense and security
SAP ERP Modules
SAP ERP modules help companies manage business processes like customer relations, human resources, production planning, financial accounting and so on. SAP modules are basically divided into two categories, namely:
- Functional Modules
- Technical Modules
SAP has a total of 25 modules. Although all 25 modules are not deployed in business processes.
From a freelancer’s point of view, pursuing the selected list of modules will also open the door to better job opportunities. For your benefit, here is a list of 12 vital highest paying SAP modules almost all organizations utilize:
- Finance & Control (FICO)
- Production Planning (PP)
- Business Information Warehousing (BIW)
- Advanced Business Application Management (ABAP)
- Customer Relationship Management (CRM)
- Sales & Distribution (SD)
- Human Resource (HR)
- Management Material (MM)
- Exchange Infrastructure (XI)
- Material Management (MM)
- Net Viewer and
- Basis
However, this is not all; we will now delve deeper and take a look at the top 7 highest paying SAP modules for 2020 that every freelance consultant should learn.
[Also Read: Everything About SAP Certification]
Top 7 Highest Paid Sap Modules List for Freelancers
With the number of licensed users implementing SAP systems such as SAP HANA increasing, the demand for Freelance SAP professionals has increased, whether it is for functional, or technical experts, or architects and developers.
1. SAP S4 HANA
This is one of the most important additions of SAP in all of its 23 years. The SAP S/4 HANA module is used for high-performance analytic appliance and is considered as the in-memory version of the Business Suite ERP platform.
It is the easiest to use compared to the other modules. It is administered to solve more complex problems and work on a huge amount of data, which wasn’t possible by its previous versions. The demand for SAP S/4 HANA consultants has increased by 7% since 2017.
2. SAP ECC FI (Financial Accounting)
SAP ECC FI deals in managing and controlling the financial transactions of a business enterprise.
This SAP FI (Financial Accounting) Module helps employees to manage data in a single central database for any transactions involving receivables, payables or other business transactions. It facilitates appropriate reporting culture because of its versatile ability in meeting global compliance requirements. It functions extremely well in different types of economic situations and is perfect for reporting requirements.
The SAP ECC FI module consolidates data for diverse business transactions and legal needs, for both small enterprises and large corporates. If you want to know your company’s real-time financial position in the market, you can completely rely on SAP FI.
For better work results, you can integrate SAP FI with other modules such as SAP MM, SAP PP, SAP SD, and Payroll.
3. SAP HCM (Human Capital Management)
The SAP HCM module augments the data management and work processes of the HR department. Processes that are vital in all HRDs, such as hiring candidates, evaluating performances, managing payroll, incentives, compensations, PF & gratuity, and other related activities can be effortlessly processed using this SAP HCM.
4. SAP SCM (SAP Supply Chain Management)
One of the hardest parts of a manufacturing and production company is to understand the procurement and distribution processes from end to end. It is harder to integrate into one track to ensure that wastages, leakages, and misappropriations are minimized. Managing the demand and supply of products could be made significantly easier with the help of SAP SCM.
The module expertly covers production planning, demand planning, and business forecasting. It also regulates and keeps a tab on processes such as product flow and information flow.
5. SAP BI (Business Intelligence)
SAP BI gives new meaning to raw data from various heterogeneous sources of an organization. How does the module work? It stores and processes transactions for algorithms to apply the logic that can extract relevant information from raw data and makes it useful for enterprises to make better decisions.
With the help of the ERP module, you can present the new data in the form of reports, including tables, charts, etc. Business decisions can be made on critical and total analysis.
[Also Read: Becoming a Freelance Data Scientist – 8 Data Science Skills You Must Learn]
6. SAP MM (Material Management)
The SAP Material Management module is part of the logistics area and regulates the procurement activities of any organization. It supports all aspects such as planning, controlling and implementing. (1)
The module ensures there are no gaps in the supply chain process by speeding up procurement and material management activities and make business operations smoother and cost-effective.
7. SAP NetWeaver
SAP NetWeaver is not a product by itself but is an integrated technology platform where it makes access to SAP data possible using simple HTTP or even smartphones. The primary function of SAP NetWeaver is to connect people, processes, and information seamlessly.
