What is SAP FICO?

SAP FICO is a core functional module in SAP ERP systems, encompassing Financial Accounting (FI) and Controlling (CO). It is used by organizations to manage their financial data, track financial transactions, generate financial statements, and perform cost accounting. FI handles external reporting and legal requirements, while CO supports internal management decision-making, such as cost control and profitability analysis. Businesses use SAP FICO to improve financial transparency, streamline accounting processes, and gain insights into their financial performance.