What is 'compensation calculation' in SAP FS-CM - Claims Management?

compensation calculation - Overview

• Component: FS-CM

• Component Name: Claims Management

• Description: Determination of the compensation to be made.

compensation calculation - Details

• 
  Key Concepts: 
  Compensation calculation is a feature of the FS-CM Claims Management component of SAP. It enables users to calculate the amount of compensation that should be paid out to claimants based on the information provided in the claim. This calculation is done automatically, taking into account any applicable rules and regulations.
  
  How to use it: 
  To use the compensation calculation feature, users must first enter the relevant information into the claim form. This includes details such as the type of claim, the amount of compensation being sought, and any applicable rules or regulations. Once this information has been entered, the system will automatically calculate the amount of compensation that should be paid out.
  
  Tips & Tricks: 
  When entering information into the claim form, it is important to ensure that all relevant details are included. This will ensure that the system can accurately calculate the amount of compensation that should be paid out. Additionally, users should be aware of any applicable rules or regulations that may affect the calculation.
  
  Related Information: 
  The FS-CM Claims Management component also includes features such as claim tracking and reporting, which can be used to monitor and analyze claims over time. Additionally, users can use this component to generate reports on claims and their associated compensation payments.