SAP

The Statutory Accounting Principles (SAP) are accounting guidelines that govern how the financial accounts of an insurance company. The goal of SAP is to guarantee insurance companies' financial stability so they can fulfill their roles to policyholders.

Your business accounts, including journal entries, accounts receivable and payable, properly tracking cash flow, fixed assets, and performance reviews against budgets, are all managed by SAP's accounting software. The most often used module for financials and accounting is SAP FI. SAP ERP solutions automatically handle various accounting operations like keeping ledgers, balance sheets, profit and loss statements, etc. SAP FI modules assist enterprise asset management.

Features of SAP:

Customer service

Connecting and managing client contacts stored in Microsoft Outlook allows you to keep all important customer data in one location.

Service administration

Effectively create and manage service and warranty agreements and swiftly input and handle service calls.

Management of marketing campaigns

To convert prospects into customers, increase revenue, improve profitability, create, manage, and analyze marketing initiatives.

Management of master data

Manage specific data in a user-friendly interface to simplify purchase operations. While keeping detailed item purchasing information with price lists and tax information, you may view your account balance and purchase analyses.

Reporting

Whether you're using a desktop or a mobile device, develop integrated reports with real-time data and show them in various report formats or dashboards to get a general picture of what matters most to your organization.

Receipts to be made

Reduce costs and improve the linkages in your supply chain. Apply a purchase order reference to process credit notes, cancellations, and invoices for accounts payable; estimate your material requirements, and arrange your purchases accordingly.