What is recurring substitution in SAP FS-PM - Policy Management?

SAP Term: recurring substitution

• Component: FS-PM

• Component Name: Policy Management

• Description: The execution of substitution on a regular basis during the substitution phase in which there is no premium payment obligation, and where nonpayment of the premium would not trigger dunning.

Smart SAP Assistant

• Key Concepts: 
  Recurring substitution is a feature of SAP FS-PM Policy Management that allows users to set up a template for a policy and then apply it to multiple policies. This feature allows users to quickly and easily create multiple policies with the same structure and content. 
  
  How to use it: 
  To use recurring substitution, users must first create a template policy. This template policy should contain all the necessary information for the policies that will be created using the template. Once the template is created, users can then select the “Recurring Substitution” option from the FS-PM Policy Management menu. This will open a window where users can select the template policy and then enter the details for each policy that will be created using the template. 
  
  Tips & Tricks: 
  When creating a template policy, it is important to make sure that all of the necessary information is included in the template. This will ensure that all of the policies created using the template will have all of the necessary information. Additionally, it is important to make sure that all of the policies created using the template are consistent with each other. This will ensure that all of the policies are consistent with each other and are easy to understand. 
  
  Related Information: 
  For more information on recurring substitution in SAP FS-PM Policy Management, please refer to SAP’s official documentation on this feature. Additionally, there are many online tutorials available that provide step-by-step instructions on how to use this feature.