What is lateral object in SAP FS-PM - Policy Management?

SAP Term: lateral object

• Component: FS-PM

• Component Name: Policy Management

• Description: An object that can be assigned at various levels in the product or contract. Some lateral objects are defined and assigned to a product in the product engine. Other lateral objects are assigned in In-Force Business Configurator. Examples of lateral objects are clauses, deductibles, and surcharges/discounts. All objects are lateral objects apart from the main axis elements policy, contract, contract package, coverage package, coverage, and subcoverage.

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• Key Concepts: 
  Lateral objects are a type of object in the FS-PM Policy Management component of SAP. They are used to define the relationships between different objects in the system, such as policies, rules, and processes. Lateral objects are used to link different objects together and provide a way to manage the relationships between them.
  
  How to use it: 
  Lateral objects can be created in the FS-PM Policy Management component of SAP. To create a lateral object, select the “Create Lateral Object” option from the menu. This will open a window where you can enter the details of the lateral object, such as its name, description, and any other relevant information. Once you have entered all of the necessary information, click “Save” to create the lateral object.
  
  Tips & Tricks: 
  When creating lateral objects, it is important to ensure that they are properly linked to other objects in the system. This will ensure that all of the necessary relationships between different objects are properly managed. Additionally, it is important to keep track of all lateral objects that have been created in order to ensure that they are properly maintained and updated when necessary.
  
  Related Information: 
  For more information on lateral objects and how to use them in SAP FS-PM Policy Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials and guides on how to use lateral objects in SAP FS-PM Policy Management.