SAP FICO (SAP Finance and SAP Controlling) SAP FICO is an important core functional component in the SAP ERP Central Component that allows an organization to manage all of its financial data. SAP FICO allows an organization to store a complete version of its financial transaction data.
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SAP FICO consists of two sections, SAP Finance (FI) and SAP Controlling (CO). Each of these is used for a specific financial process. SAP FI deals with overall financial reporting and accounting, while SAP CO focuses more narrowly on planning and monitoring costs.