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What Does A SAP Fico Consultant Do?

A SAP Finance and Controlling (FICO) consultant designs, builds, and deploys SAP-based enterprise resource planning (ERP) solutions. The responsibilities of this professional include understanding an organization's business requirements, training end-users, and sorting out the end user's day-to-day queries. The qualifications for the job include the ability to multitask, knowledge of accounting business processes, and prior work experience in professional services or distribution company. The personal attributes of becoming an SAP FICO consultant include being respectful and possessing cultural awareness.

Here are examples of responsibilities from real sap fico consultant resumes representing typical tasks they are likely to perform in their roles.

  • Work with business management to gather requirements, prepare as-is to-be, configuration changes, unit testing and data conversion process.
  • Configure COPA profiles according to order types to meet company needs for profitability analysis.
  • Configure global settings for electronic bank statement define the lockbox control parameters and define the posting data.
  • Map business practices to ERP software.
  • Configure new the activity types for the client in the CO-PC module.
  • Analyze the as-Is system and gather functional requirements for the to-be system.
  • Review ABAP/4 team's functional and technical designs for clarity and completeness.
  • Develop a BDC program to upload unplan depreciation for multiple assets using transaction ABAA.
  • Participate actively in configuring the inconsistencies relate to FI-GL, FI-AP, and FI-AR modules.
  • Configure FI-AP vendor groups, vendor master data, down payments, open item clearing.
SAP Fico Consultant Traits
Analytical skills have to do with gathering information from various sources and then interpreting the data in order to reach a logical conclusion that benefits the business.
Communication skills shows that you are able to relay your thoughts, opinions and ideas clearly to those around you.
Creativity involves thinking about a task or problem in an entirely new or different light.

SAP Fico Consultant Overview

When it comes to understanding what a sap fico consultant does, you may be wondering, "should I become a sap fico consultant?" The data included in this section may help you decide. Compared to other jobs, sap fico consultants have a growth rate described as "faster than average" at 9% between the years 2018 - 2028, according to the Bureau of Labor Statistics. In fact, the number of sap fico consultant opportunities that are predicted to open up by 2028 is 56,000.

Sap fico consultants average about $41.83 an hour, which makes the sap fico consultant annual salary $86,997. Additionally, sap fico consultants are known to earn anywhere from $68,000 to $111,000 a year. This means that the top-earning sap fico consultants make $43,000 more than the lowest earning ones.

It's hard work to become a sap fico consultant, but even the most dedicated employees consider switching careers from time to time. Whether you're interested in a more challenging position or just looking for a fresh start, we've compiled extensive information on becoming a programmer analyst, systems analyst, customer relationship management consultant, and consultant/team lead.

SAP Fico Consultant Jobs You Might Like

SAP Fico Consultant Skills and Personality Traits

We calculated that 17% of SAP Fico Consultants are proficient in To-Be, Business Process, and Master Data. They’re also known for soft skills such as Analytical skills, Communication skills, and Creativity.

We break down the percentage of SAP Fico Consultants that have these skills listed on their resume here:

  • To-Be, 17%

    Worked closely with process teams in understanding the As-Is system and finalizing design of the To-Be system (GAP analysis).

  • Business Process, 11%

    Analyze existing business processes, gathering business users requirements, and functional specifications, conducting gap analysis and updating relevant documentation.

  • Master Data, 5%

    Integrated asset accounting with general ledger after configuring asset master data, depreciation areas and depreciation keys.

  • Copa, 4%

    Designed COPA reporting across various product lines configured valuation function to project profitability, pricing and product cost information.

  • Profitability Analysis, 4%

    Defined characteristic derivation and activated Profitability Analysis.

  • Fico, 4%

    Updated functional specifications to develop business requirements involving various FICO SAP enhancements.

Most sap fico consultants list "to-be," "business process," and "master data" as skills on their resumes. We go into more details on the most important sap fico consultant responsibilities here:

  • Analytical skills can be considered to be the most important personality trait for a sap fico consultant to have. According to a sap fico consultant resume, "analysts must interpret complex information from various sources and decide the best way to move forward on a project" sap fico consultants are able to use analytical skills in the following example we gathered from a resume: "planned and executed data migration using lsmw for aa, custom bapi's for gl, ap and ar. "
  • Another trait important for fulfilling sap fico consultant duties is communication skills. According to a sap fico consultant resume, "analysts work as a go-between with management and the it department and must explain complex issues in a way that both will understand." Here's an example of how sap fico consultants are able to utilize communication skills: "gathered requirements for a new sap fico implementation project from users, for the purpose of communication/documentation with their technical team. "
  • Creativity is also an important skill for sap fico consultants to have. This example of how sap fico consultants use this skill comes from a sap fico consultant resume, "because analysts are tasked with finding innovative solutions to computer problems, an ability to “think outside the box” is important." Read this excerpt from a resume to understand how vital it is to their everyday roles and responsibilities, "activated material ledger and carried inventory valuations in multiple currencies and maintained data for different types of valuations. "
  • See the full list of sap fico consultant skills.

    After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming a sap fico consultant. We found that 51.4% of sap fico consultants have graduated with a bachelor's degree and 36.9% of people in this position have earned their master's degrees. While most sap fico consultants have a college degree, you may find it's also true that generally it's possible to be successful in this career with only a high school degree. In fact, our research shows that one out of every nine sap fico consultants were not college graduates.

    Those sap fico consultants who do attend college, typically earn either finance degrees or accounting degrees. Less commonly earned degrees for sap fico consultants include business degrees or business/commerce degrees.

    Once you're ready to become a sap fico consultant, you should explore the companies that typically hire sap fico consultants. According to sap fico consultant resumes that we searched through, sap fico consultants are hired the most by Deloitte, Cognizant, and Aspire. Currently, Deloitte has 48 sap fico consultant job openings, while there are 3 at Cognizant and 1 at Aspire.

    If you're interested in companies where sap fico consultants make the most money, you'll want to apply for positions at Randstad North America, Avnet, and SAP. We found that at Randstad North America, the average sap fico consultant salary is $120,944. Whereas at Avnet, sap fico consultants earn roughly $120,722. And at SAP, they make an average salary of $116,658.

    View more details on sap fico consultant salaries across the United States.

    The three companies that hire the most prestigious sap fico consultants are:

      What Programmer Analysts Do

      A programmer analyst is responsible for monitoring database performance and software applications, performing basic troubleshooting, and improving program operations as needed. Programmer analysts' duties also include making adjustments on the system based on client's specifications, creating reports for any updates and new system procedures, designing specific technology solutions to improve the business operations, and performing necessary code adjustments. A programmer analyst must have extensive knowledge of computer systems and procedures, as well as critical-thinking skills to perform complex tasks under minimal supervision.

      In this section, we compare the average sap fico consultant annual salary with that of a programmer analyst. Typically, programmer analysts earn a $15,856 lower salary than sap fico consultants earn annually.

      Even though sap fico consultants and programmer analysts have vast differences in their careers, a few of the skills required to do both jobs are similar. For example, both careers require business process, test scripts, and uat in the day-to-day roles.

      As far as similarities go, this is where it ends because a sap fico consultant responsibility requires skills such as "to-be," "master data," "copa," and "profitability analysis." Whereas a programmer analyst is skilled in "procedures," "sql," "c++," and "web services." So if you're looking for what truly separates the two careers, you've found it.

      Programmer analysts really shine in the finance industry with an average salary of $81,341. Whereas sap fico consultants tend to make the most money in the pharmaceutical industry with an average salary of $101,887.

      Programmer analysts tend to reach lower levels of education than sap fico consultants. In fact, programmer analysts are 22.3% less likely to graduate with a Master's Degree and 1.2% more likely to have a Doctoral Degree.

      What Are The Duties Of a Systems Analyst?

      A systems analyst is responsible for monitoring the effectiveness of technology systems and analyzing its efficiency for business operations and clients' needs. Systems analysts create specific modifications to operating systems and help design solutions and processes. Other tasks include managing the system's workflow, diagnosing and detecting malfunctions, performing troubleshooting, and assisting clients' with their concerns. A systems analyst must have excellent command with programming languages and the knowledge with the technology industry to understand systems' complexities and processes.

      Now we're going to look at the systems analyst profession. On average, systems analysts earn a $13,715 lower salary than sap fico consultants a year.

      A similarity between the two careers of sap fico consultants and systems analysts are a few of the skills associated with both roles. We used resumes from both professions to find that both use skills like "business process," "test scripts," and "uat. "

      In addition to the difference in salary, there are some other key differences that are worth noting. For example, sap fico consultant responsibilities are more likely to require skills like "to-be," "master data," "copa," and "profitability analysis." Meanwhile, a systems analyst might be skilled in areas such as "procedures," "customer service," "hardware," and "project management." These differences highlight just how different the day-to-day in each role looks.

      It's been discovered that systems analysts earn lower salaries compared to sap fico consultants, but we wanted to find out where systems analysts earned the most pay. The answer? The health care industry. The average salary in the industry is $87,831. Additionally, sap fico consultants earn the highest paychecks in the pharmaceutical with an average salary of $101,887.

      On the topic of education, systems analysts earn lower levels of education than sap fico consultants. In general, they're 27.3% less likely to graduate with a Master's Degree and 1.2% more likely to earn a Doctoral Degree.

      How a Customer Relationship Management Consultant Compares

      A customer relationship management consultant is responsible for providing management solutions for clients to develop successful customer relationships. Customer relationship management consultants evaluate business requirements and plans and identify potential risks that may affect the reputation and stability of an organization in the market. They also review the company's services, find strengths and weaknesses, and recommend solutions to enhance customer satisfaction. A customer relationship management consultant must be highly organizational and communicative, especially in finding opportunities to boost the company's brand image and maximize operational productivity to support the customers' needs and concerns.

      The customer relationship management consultant profession generally makes a higher amount of money when compared to the average salary of sap fico consultants. The difference in salaries is customer relationship management consultants making $4,107 higher than sap fico consultants.

      Using sap fico consultants and customer relationship management consultants resumes, we found that both professions have similar skills such as "business process," "master data," and "ecc," but the other skills required are very different.

      As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from sap fico consultants resumes, they are more likely to have skills like "to-be," "copa," "profitability analysis," and "fico." But a customer relationship management consultant might have skills like "salesforce," "email," "customer service," and "business partners."

      Customer relationship management consultants make a very good living in the professional industry with an average annual salary of $104,863. Whereas sap fico consultants are paid the highest salary in the pharmaceutical industry with the average being $101,887.

      When it comes to education, customer relationship management consultants tend to earn lower education levels than sap fico consultants. In fact, they're 21.9% less likely to earn a Master's Degree, and 0.9% less likely to graduate with a Doctoral Degree.

      Description Of a Consultant/Team Lead

      Consultant team leads analyze background documentation, project documents, financial reports, etc., to prepare an initial report about the projects they are working on. They gather data through interviews, research, and surveys to design proposals meant to create an inclusive environment for everyone. These leaders work with clients to improve their organization's performance by coordinating their teams and identifying their needs. They also lead a team of consultants and discuss the techniques that help their clients improve their quality of living.

      Now, we'll look at consultants/team lead, who generally average a higher pay when compared to sap fico consultants annual salary. In fact, the difference is about $8,250 per year.

      According to resumes from both sap fico consultants and consultants/team lead, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "business process," "master data," and "ecc. "

      Each job requires different skills like "to-be," "copa," "profitability analysis," and "fico," which might show up on a sap fico consultant resume. Whereas consultant/team lead might include skills like "customer service," "product knowledge," "consultants," and "project management."

      Now, let's take a closer look at the financials in each career. The utilities industry tends to pay more for consultants/team lead with an average of $105,550. While the highest sap fico consultant annual salary comes from the pharmaceutical industry.

      Consultants/team lead reach lower levels of education when compared to sap fico consultants. The difference is that they're 21.4% more likely to earn a Master's Degree less, and 2.9% more likely to graduate with a Doctoral Degree.