SAP FICO Stands For FI (Financial Accounting) And CO (Controlling). SAP FICO Is The Important Module Of ERP And Both FI And CO Modules Stores The Financial Transactions Data.The Real-Time Functionality Of The SAP Modules Allows For Better Decision Making And Strategic Planning. SAP FI Financial module is maybe one of the most important modules behind SAP. It was designed for meeting all the accounting and financial needs of an organization. within this module Financial information is available for revision in real time.