What is time model function in SAP FS-PM - Policy Management?

SAP Term: time model function

• Component: FS-PM

• Component Name: Policy Management

• Description: A function of the time model that performs scheduled or future-date unscheduled processing, especially contract changes. A time model is a technical or business transaction. Time model functions are represented by ABAP classes that are defined and specified in Customizing. They are triggered by the time model itself.

Smart SAP Assistant

• Key Concepts: 
  The time model function in SAP FS-PM Policy Management is a tool that allows users to define and manage the time frames for policy management processes. It enables users to define the start and end dates of a policy, as well as the frequency of policy reviews. The time model function also allows users to set up reminders for policy reviews and other tasks related to policy management. 
  
  How to use it: 
  To use the time model function in SAP FS-PM Policy Management, users must first define the start and end dates of a policy. This can be done by entering the start date, end date, and frequency of policy reviews in the time model settings. Once these settings are saved, users can then set up reminders for policy reviews and other tasks related to policy management. 
  
  Tips & Tricks: 
  When setting up reminders for policy reviews and other tasks related to policy management, it is important to ensure that the reminders are sent out at least one week before the review is due. This will ensure that users have enough time to review the policy and make any necessary changes before the review is due. 
  
  Related Information: 
  For more information on how to use the time model function in SAP FS-PM Policy Management, please refer to the official SAP documentation. Additionally, there are many online tutorials available that provide step-by-step instructions on how to use this feature.