What is structural funds in SAP PSM - Public Sector Management?

SAP Term: structural funds

• Component: PSM

• Component Name: Public Sector Management

• Description: Financial aid provided by the European Community and separated by fund, such as ERDF, ESF, EAGGF and FIFG. Financial aid from structural funds goes mainly to poorer regions of the EU, in order to improve the infrastructure and economy of such regions.

Smart SAP Assistant

• Key Concepts: 
  Structural funds are financial resources provided by the European Union (EU) to support economic and social development in its member states. The funds are allocated to specific projects and activities that are designed to reduce regional disparities and promote economic growth. In the Public Sector Management (PSM) component of SAP, structural funds are used to manage the budgeting, accounting, and reporting of these funds. 
  
  How to use it: 
  In SAP PSM, structural funds can be managed using the Structural Funds Management (SFM) module. This module allows users to create and manage budgets for structural funds, as well as track and report on their usage. It also provides tools for monitoring the progress of projects funded by structural funds, and for analyzing the impact of these projects on regional development. 
  
  Tips & Tricks: 
  When managing structural funds in SAP PSM, it is important to ensure that all relevant information is accurately recorded and tracked. This includes budget allocations, project progress, and expenditure reports. Additionally, it is important to ensure that all relevant stakeholders are kept informed of any changes or updates to the structural fund management process. 
  
  Related Information: 
  For more information on managing structural funds in SAP PSM, please refer to the official SAP documentation. Additionally, there are a number of online resources available that provide guidance on how to effectively manage structural funds in SAP PSM.