What is application in SAP FS-PM - Policy Management?

SAP Term: application

• Component: FS-PM

• Component Name: Policy Management

• Description: A business object that is used in a business process up to the point of release to allow the data requested by the customer, such as the policyholder or premium, to be entered in the system, as well as risk assessments to be performed, and application data calculated. When you release the application, the system uses the Contract business object to generate the policy.

Smart SAP Assistant

• Key Concepts: 
  FS-PM Policy Management is an application component of the SAP software suite. It is used to manage and monitor policies and procedures within an organization. It provides a comprehensive set of tools to help organizations manage their policies and procedures more efficiently. 
  
  How to use it: 
  FS-PM Policy Management can be used to create, edit, and delete policies and procedures. It also provides a way to track changes in policies and procedures over time. Additionally, it can be used to generate reports on policy compliance and performance. 
  
  Tips & Tricks: 
  When using FS-PM Policy Management, it is important to ensure that all policies and procedures are up-to-date and accurate. Additionally, it is important to regularly review the policies and procedures to ensure they are still relevant and effective. 
  
  Related Information: 
  For more information on FS-PM Policy Management, please visit the SAP website at https://www.sap.com/products/fs-pm-policy-management.html.