What is need item in SAP CRM-IFS - Financial Services?

SAP Term: need item

• Component: CRM-IFS

• Component Name: Financial Services

• Description: The concrete need of a customer as determined through a need analysis. It consists, for example, of a need type, the financial requirement of the customer, and the required loan term. Need items are closely connected to a need category.

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• Key Concepts: 
  Need item is a term used in the CRM-IFS Financial Services component of SAP. It is a type of item that is used to represent a need or requirement that must be fulfilled in order to complete a transaction. This could include items such as insurance policies, loans, or other financial products. 
  
  How to use it: 
  Need items are used to represent the needs of customers in the CRM-IFS Financial Services component of SAP. They are used to track the progress of transactions and ensure that all requirements are met before the transaction is completed. They can also be used to generate reports and analyze customer needs. 
  
  Tips & Tricks: 
  When creating need items, it is important to ensure that they are accurately defined and that all relevant information is included. This will help ensure that all requirements are met and that transactions are completed successfully. Additionally, it is important to keep track of need items and their associated transactions in order to generate accurate reports and analyze customer needs. 
  
  Related Information: 
  Need items are closely related to other SAP terms such as “offer items” and “contract items” which are also used in the CRM-IFS Financial Services component of SAP. Additionally, need items can be linked to other SAP components such as Sales and Distribution (SD) or Materials Management (MM).