What is 'single substitution' in SAP FS-PM - Policy Management?

single substitution - Overview

• Component: FS-PM

• Component Name: Policy Management

• Description: Substitution that is executed through a related date. The related date is scheduled as a reaction to the dunning run, for example due to the nonpayment of a premium, and it is executed in the update.

single substitution - Details

• 
  Key Concepts: 
  Single substitution is a feature of SAP FS-PM Policy Management that allows users to replace a single policy with another policy. This feature is useful for quickly making changes to existing policies without having to manually edit each policy. 
  
  How to use it: 
  To use single substitution, the user must first create a new policy that they want to substitute for the existing policy. Then, they must select the existing policy and click on the “Substitute” button. This will open a dialog box where the user can select the new policy they want to substitute for the existing one. Once selected, the new policy will be applied to all instances of the existing policy. 
  
  Tips & Tricks: 
  When using single substitution, it is important to remember that any changes made to the new policy will not be applied to any existing instances of the old policy. Therefore, it is important to ensure that all changes are made before substituting the new policy. 
  
  Related Information: 
  For more information on single substitution in SAP FS-PM Policy Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/FS-PM/2020/en-US/fspm_substitution_single_en.html