Dynamic visual storytelling using SAP Analytics Cloud can reimagine your business intelligence, analytics, and reporting with real-time data. Here’s how.
“Storytelling is our obligation to the next generation. If all we are doing is marketing, we are doing a disservice, not only to our profession but also to our children and their children. Give something of meaning to your audience by inspiring, engaging, and educating them with story. Stop marketing. Start storytelling.” These impactful words from Laura Holloway, Founder & Chief of The Storyteller Agency, sets the tone for this article.
Business storytelling is a powerful communication tool. It is a process and approach that helps establish a brand’s identity by making its message meaningful and memorable.
SAP Analytics Cloud helps you create this impact by creating visual stories with your brand or product in the spotlight. Moreover, it can help your product or brand stand apart in its essence and what it stands for. Visual storytelling contributes to your brand’s alignment with customers who ascribe to the same beliefs.
This blog discusses how SAP Analytics Cloud helps analysts create dynamic visual stories and how businesses can benefit from the same.
What is SAP Analytics Cloud?
SAP Analytics Cloud is a solution in the SAP portfolio to meet the needs of data visualization in the cloud. It enables analytics (analysts) to create storyboards about your products and services faster. SAP Analytics Cloud empowers all businesses to shape their ideas in the form of fun-filled, illustrative stories.
Interestingly, studies have revealed that the human brain processes visual information 60,000 times faster than text. Defining products and services has always involved long functional specifications. As a result, they are easily misinterpreted and cannot be validated by the users. On the other hand, SAP Analytics Cloud can help analytics create dynamic visual stories that show the value of your ideas and product vision making messages more memorable and understandable.
SAP Analytics Cloud is delivered as an all-in-one, SaaS-based product. Its primary function is to create data reports that originate from various sources such as real-time data, budget forecast data, or data formatted as an MS Excel table. This solution is intuitive and user-friendly, allowing users to produce reports of varying complexity with complete autonomy.
Analysts understand that data can be a powerful influence only when it is presented in the right way. Mind-numbing spreadsheets or uninteresting charts can be turned into powerful and appealing stories with the help of SAP Analytics Cloud. Undeniably, data has a lot of potential. With an expressive storyline, you can unleash the potential of the data making it convincing and remarkable.
Top 5 benefits of SAP Analytics Cloud
SAP Analytics Cloud is a pre-configured ready to deploy true cloud solution. It is convenient, secure, and can scale with a business of any size. Consider 5 top benefits of SAP Analytics Cloud.
1. Gain insight into what drives your business
SAP Analytics Cloud is powered by augmented analytics features driven by AI and ML technologies. So, you can automatically gain insight from any level of detail and use those key influencers of past results to predict future scenarios and outcomes.
2. Create dynamic visual stories for better decision making
Hasty decisions made on assumptions can have disastrous consequences for your business. Conversely, you can make informed decisions by interacting with visualization as you can create dynamic visual stories based on your critical business areas with trusted data. Furthermore, this solution allows you to investigate thoroughly and answer essential questions of business on the fly.
3. Simplify analytics landscape
As SAP Analytics Cloud seamlessly integrates with your data and planning solutions, you can connect to data from multiple sources. This simplifies your analytics landscape, enabling you to get the complete picture and make better decisions.
4. Drive better business outcomes
Your organization can gain complete alignment across all business aspects by aligning financial, strategic, and operations planning in SAP Analytics Cloud. Subsequently, you can now predict future scenarios and outcomes with collaborative enterprise planning in one simple cloud solution.
5. Strategize with business growth in view
Strategic planning ensures business growth and helps businesses to remain resilient despite challenges. Collaborative enterprise planning empowers you to create a fact-based plan for your business’s success. Moreover, it allows you to modify your planning data when required to drive better budgeting, forecasting, and analysis for your business growth.
SAP Analytics Cloud help analysts tell a story with your data
Just as in writing or speaking, analytics must keep their data design simple, crisp, and to the point. Telling a compelling, dynamic visual story requires both common sense and imagination. Here are some best practices to follow:
- Consider your target audience and identify what they already know about the subject.
- Ensure the colors and style are unique to your story to avoid confusion.
- The arrangement of the dashboard must be self-explanatory and user-friendly.
- Use symbols, icons, and pictures to help your audience understand the story at a single glance.
- Do not just beautify the visuals. Instead, explain the data.
Use cases of how SAP Analytics Cloud helped create dynamic visual stories
Use case 1: A conservation society in Australia improves its operations with data-driven decisions
Taronga is a non-profitable organization that works to create the next generation of conservation champions. With the help of cutting-edge technology by SAP Analytics Cloud, Taronga is leveraging its data to improve operations and expand its impact. It is experiencing transparency, flexibility, and scalability while streamlining and digitizing all its business processes.
SAP Analytics Cloud provided Taronga access to real-time reporting that enabled the organization to make data-driven decisions which in turn contributed to a positive impact on wildlife conservation and enhanced visitor experience.
Use case 2: A dairy cooperative in Belgium makes informed decisions with real-time financial reporting
Milcobel is the largest dairy cooperative based in Belgium. It is a vast company that processes and commercializes 1.8 billion liters of milk from 2,400 dairy farms. The larger the organization, the greater the volume of data. So, Milcobel chose to implement SAP Analytics Cloud along with other SAP solutions. This implementation resulted in the reduction of time-consuming manual processes.
Moreover, it provided real-time data to the financial team to better understand the product margins and profitability of each of its dairy plants. Thus, the leaders can now trust that they are confidently making informed decisions based on up-to-date data. In addition, SAP Analytics Cloud ensures that all users have access to real-time data. Consequently, Milcobel has control and flexibility over their data quality and can benefit from an end-to-end strategy that combines data volume, quality, and usage to create data value.
Beyond visual storytelling
The capabilities of SAP Analytics Cloud go far beyond just visual storytelling. As an SAP Silver Partner, Fingent has worked with many clients globally and helped them bring out the best from their business using the SAP Analytics Cloud landscape.
Fingent will help you create a cloud-first business environment, provide data visualization and reporting solutions, and empower your company with unparalleled business intelligence while leveraging your existing cloud and on-premise data solutions. What more could you ask for? Well, there is a lot more, and Fingent can help you tap into it all. So give us a call, and let’s get talking.
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What are the benefits of implementing SAP ERP software into your business?
With businesses transforming themselves digitally, SAP ERP systems saw a rise in popularity for the past few years, especially since 2019. What makes the system so unique? For one, SAP ERP can be implemented by all businesses, big or small, and reap the benefits of the software. That said, SAP software is providing solutions that are helping businesses adapt to the ever-changing technology landscape.
What is SAP ERP?
SAP stands for Systems, Applications, and Products in data processing. SAP is the market leader among ERP software providers. SAP ERP comprises several modules that help companies gather, maintain, store and interpret data from functional areas such as;
- Sales and distribution
- Financial accounting
- Manufacturing and material management
- Logistics and warehouse management
- Supply chain management
- Business intelligence
In other words, the SAP ERP system produces a precise process that offers a complete perspective (internal and external) of your business.
What are the uses of SAP ERP software?
With over 230 million cloud users and more than 100 solutions covering all business functions, SAP is the largest cloud portfolio provider in the ERP market.
SAP facilitates effective data processing and information flow across organizations. Also, software like SAP S/4HANA leverages in-memory computing to process vast data volumes and simultaneously supports advanced technologies such as machine learning and Artificial Intelligence (AI).
SAP software connects different parts of a business, such as finance, accounting, sales, supply chain, assembly line, HR, etc., into an intelligent business suite that is entirely digital. You can purchase or customize any module based on your business needs.
Simply put, SAP software can manage almost all your departments, revolutionizing the way your business operates. Also, it helps organizations eliminate the redundancy and duplication in data. This can help organizations to run even more efficiently.
If you’re new to SAP and looking for an SAP consultant, get in touch with us, and we will assist you further.
Case Study: Fingent helped a real estate giant reduce manual work, improve TAT, and increase profitability by integrating multiple role-based mobile apps into their SAP ERP system. Download now!
Business benefits of implementing SAP ERP software
1. Offers innovative technology
SAP ensures you are equipped with the right tools and technology that will help you prepare for the future. SAP software also provides you with future-proof cloud ERP solutions that will power the next generation of your business.
2. Improves cost-efficiency
SAP ERP software reduces the administration and operation expenses by using accurate and real-time information. In addition, the software enables manufacturers to control operations and avoid delays in production and break up information, which eventually allows the management to make decisions effectively.
Additionally, SAP offers complete power to the administrators over the breakdowns of crucial company processes and future disturbances.
3. Advances data management
Performance metrics and measurements help businesses assess their performance and set future objectives as well. However, as the business expands, it will become difficult to manually measure the profit ratios, sales margin, and other metrics.
SAP ERP helps automate processes and allows the staff within the organization to view shared data without retaining manual records. It also helps in generating synchronized reports on essential company metrics. Immediate access to such information will augment decision-making.
4. Avoids duplication and upgrades transparency
As all your business information is stored in a single database, the possibility of duplicate records and data entries is reduced. In addition, the system will automatically report the present system records. It improves the quality of the data and lets you create exact pictures in most cases.
Additionally, SAP software upgrades the transparency of your business to a new level. The ERP system will screen and monitor every marginal operation and task from an inventory product level, purchase orders, or billing and delivery. This will provide a clear view of the performance of all the tasks.
5. Integrates other members of the value chain
SAP ERP helps bridge the gap between the suppliers and customers by integrating other value chain members. This allows your organization to gain a competitive edge by engaging in the design and development of new products that add value to their experience.
SAP ERP is a great tool that helps you get more information and improve quality. For example, the availability of up-to-date data lets you adjust production orders and purchase according to your requirements. Also, you can get a segmented database of your customers, making it easier to carry out your marketing campaigns targeting specific segments.
6. Enables better analysis and forecasting
In most cases, it is difficult for a person to provide accurate information evaluation along with reports. SAP ERP system eliminates information risk as there is no duplication of data. In addition, the system provides real-time reports of even the minor business tasks that serve risk assessment and generation of performance reports.
The ERP system reviews purchases and changes in the inventory as they happen. It provides customers and, most notably, managers with the tools and resources needed to make accurate forecasts.
7. Allows effortless scaling
If you are a prospective start-up organization and aspire to become a more prominent and successful company in the future, you will have to handle the expansion. It is required to extend your company operations.
Right from the development stage, you will have to consider the machinery, workforce power, and extensive data. SAP software is designed to suit all the fundamental market criteria. Initially, you can do some simple integration and then scale up according to the precise industry specifications.
8. Enhances data security
The SAP ERP system improves data quality and security. The software provides better data protection using built-in security systems and firewalls.
Additionally, SAP allows you to access the relevant information to allocate and limit data usage to every employee or a group of individuals.
Fingent offers SAP ERP consulting and implementation services
SAP has an extensive portfolio of programs designed for all major roles, including project teams, IT administrators, key users, and end-users. Fingent is a certified SAP Silver Partner authorized to deliver a broad range of ERP services across the wide spectrum of solutions offered by SAP. We enable our clients to customize and implement SAP ERP solutions to accelerate their digital transformation journey. We also provide continuous support, SAP AMS, and quality management services to monitor your ERP environment.
Feel free to contact us for any SAP consulting requirements. We are committed to quality and innovation to help deliver optimal results for your business.
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How Business Intelligence in SAP Helps You Become a Data-driven Organization
Business Intelligence is the data powerhouse essential for the survival of your business. BI can help organizations evaluate and transform complex data into meaningful, actionable information. This information allows organizations to generate operational insights and supports effective, strategic, and tactical decision-making. Business Intelligence in SAP makes data-driven decision-making better, faster, and more effective. This article helps you understand all you need to know about Business Intelligence in SAP.
Business Intelligence in SAP
Business Intelligence in SAP is a centralized suite for data analysis and reporting. It allows you to gain data from multiple data sources and distribute it to different Business Intelligent systems. In essence, Business Intelligence in SAP can work as a target system for data transfer or a source system for data distribution.
Business Intelligence in SAP allows an organization to share information in real-time with all involved, from the CEO to lower-level employees. It offers a panoramic view of data to all those with appropriate credentials. Business Intelligence in SAP can be customized easily to your specific needs. This would also mean that you can access the information much faster.
Advantages of Business Intelligence in SAP
According to Statista, the global market size for business intelligence (BI) and analytics software applications is forecast to touch USD 17.6 billion by 2024. Such an increase is a clear indication of the wide range of benefits Business Intelligence in SAP can offer organizations.
Here are a few advantages of Business Intelligence in SAP:
1. An entire range of BI-related products
SAP offers all the BI tools necessary for your company to leverage a data platform. Business Intelligence in SAP allows you to deploy these tools according to your requirement. The BI tools can be used for querying, analyzing, and reporting. You can also use them to identify trends in the data and discover any underlying issue that adversely affects the business.
SAP Analytics Cloud allows you to centralize your BI tools. From this central point, you can provide permission-based data access to the employees according to their job requirements. Additionally, ad hoc reporting tools enable you to formulate questions and find instant answers. You can gather these answers and data into valuable insight, which can be shared with the rest of the relevant employees.
2. Information at your fingertips
Business Intelligence in SAP comes with an enterprise-wide sharing functionality. It simplifies the data to be understood easily in common business terms rather than complex semantic language. Simplifying data makes it easy to search for critical information and gain valuable insights.
Moreover, data simplification and insights generation allow you to share your findings and insights with other users across your organization. For good decision-making, businesses need valuable insights into various business modules such as finance, sales, operations, and human resources. Business intelligence combines all the views from these modules to provide more accurate information. Now, each decision-maker is armed with relevant information to make critical decisions that affect your organization.
3. Self-service visualization capabilities
Dragging data from vast storage and introducing it to a user is a gigantic task that requires data-specific knowledge and engineering skills. SAP offers several self-service tools for BI users. The self-service visualization capabilities of Business Intelligence in SAP allow its users to view and analyze data more efficiently. With this capability, you can aggregate data, conduct trend analysis, and uncover valuable insights. This can reduce maintenance costs while considerably shrinking the time spent on reporting-related tasks.
4. Ability to create interactive BI dashboards
Business Intelligence in SAP enables you to create interactive BI dashboards that can be customized for each user. Additionally, decision-makers can access and view these dashboards from anywhere and at any given time.
You can access the dashboards via smartphones. The dashboards are also accessible through browsers, applications, or desktop widgets, even when you are offline. It means that all users can remain connected to the company’s server at all times.
5. Integration with MS Office application
You can realize the true value of the data you possess if only you share those insights and reports with other users. Since most reporting and dashboard modules are integrated with sharing capabilities, your employees can easily share valuable insights. Integration with the MS Office application allows users to perform data analysis in multiple dimensions. It enables them to manipulate and filter data dynamically.
Business Intelligence in SAP allows you to import large amounts of data to MS Excel, enabling you to analyze and forecast effectively. You can also embed information into MS PowerPoint. This feature is helpful when you need to present business insights to stakeholders and colleagues.
6. Easy to use interface
Business Intelligence tools can be very complicated, with a complex interface designed mainly for skilled programmers or data analysts. However, Business Intelligence in SAP comes with a good instrument that allows for an intuitive user interface. With a bit of time and skill, it is easy to master the interface. Onboarding a new business user becomes more convenient as they can access all the instruments from a single web-based interface.
7. Greater flexibility and scalability
Business Intelligence in SAP is easy to integrate as it offers deployment options for most of its products. As Business Intelligence in SAP is service-oriented, it is easily scalable. Based on the need of the hour, businesses can either increase or decrease. Though you begin using business intelligence for a single project, later, you can expand to the rest of the organization. It means that both large enterprises and small businesses can benefit from Business Intelligence in SAP.
8. Allows your IT department to engage in more meaningful work
Business Intelligence in SAP can automate mundane and time-consuming tasks. It also ensures that the employees in your organization have all the resources they need to perform their tasks. It reduces the dependency on your IT department and helps your IT professionals focus their time on more productive and relevant jobs.
Easier access to data, smarter insights, better business – you can’t go wrong with Business Intelligence in SAP. It helps you run complex queries and provides you with a highly scalable solution. What more can you ask for?
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How Can Your Business Gain Value from SAP S/4HANA Implementation?
Companies need a digital core to overcome complexity and drive digital transformation. SAP S/4HANA is a digital core ERP that can help companies overcome complexity and thrive in today’s disruptive market.
Businesses are growing by the minute and are moving faster than ever before. Thanks to the innovative developments and improvements of the digital world!
However, today’s unprecedented disruption calls for more. Businesses need unique ways to emerge stronger from intense challenges that they might never have encountered before. C-level leaders and business owners are looking for ways to become more resilient. They understand that to keep up with ever-changing customer needs, they must invest in automation, analytics, and cloud technologies. The key priority has consequently been the move to SAP S/4HANA.
S/4 HANA is an intelligent ERP software that helps you reinvent your business model by providing easy access to real-time data.
Read more: SAP S/4HANA: Redefining End-To-End Solution
C-level leaders and executives need to understand that the journey to SAP S/4HANA is not just an IT exercise. It is an integral part of their broader digital transformation. Business owners need to review their business processes, end-to-end data, and system integrations. Such a review would assist them in developing an overall business value to guide their journey. This blog explores eight practical ways to raise business performance with your SAP S/4HANA journey.
What makes your SAP S/4HANA journey complicated?
Before we get into how to get your business booming with SAP S/4HANA, let’s look at why some C-level leaders and executives find this journey challenging.
Planning and delivering your SAP S/4HANA journey is a once-in-a-generation opportunity for transformation and generates significant investment returns. Today, C-level leaders and executives struggle to answer these three hows:
- How to articulate the business value case to generate substantial returns on investment?
- How to ensure that the program remains business-led?
- How to leverage the power of the cloud?
Leaders and executives must consider creative ways to harness the power of SAP S/4HANA. It includes the design phase, building phase, and running phase. Business value can only rise when new sources are developed that enable the business to react quickly to recover from disruption.
8 practical steps to gain business value from SAP S/4HANA journey
Here are eight practical steps that answer the ‘hows’ and more:
1. Articulate the business value case
You may have already set aside a significant amount of resources, both in terms of finances and staffing, to embrace the journey to SAP S/4HANA. Beginning this journey with a holistic, business-led value case will help you realize its full potential and make the best of these resources. Thankfully, there is a distinct and compelling business case for every digital function. What does this mean for C-level leaders and executives?
It would mean that they must take the time to create a fact-based business value case that can be used as an anchor throughout the SAP S/4HANA journey. Why? Because a well-defined business value case will help you fund all digital transformation efforts, including SAP S/4HANA.
2. Avoid a ‘technically configured’ approach
A technology-led approach might not deliver the expected results. Why? In most cases, C-level leaders may find it daunting to understand their role in the digital transformation journey. So they prefer to delegate the responsibility to others. Such delegation instantly turns the digital journey into a secondary priority. Since others may not understand the business as you do, it will become challenging to configure the transformation to be truly business-led.
C-level leaders and executives must realize the potential and take an active role in the transformation. You can then think strategically to create a clear path to a more agile and insight-driven business.
3. Unleash the power of cloud solutions
To make quick and informed decisions, combine your internal and external data sources. Cloud-based applications and infrastructure will help you create a data strategy to deliver real-time insights. A well-defined cloud strategy will enable you to align the data, identify the best data sources, understand how to measure and maintain quality data, and manage your data.
4. Integrate suppliers before it is too late
For specific industries such as automation, supply ecosystems are strategically important. Though it may seem expensive, ensure to integrate your suppliers before SAP S/4HANA is well advanced. Such integration can be less expensive where custom developments are not warranted.
5. Leverage AI to boost your current and future business models
Businesses worldwide face extraordinary challenges and disruption today. Automation-driven growth will be the only constant during this period of uncertainty. Though SAP may not provide everything you currently need to build your business, it allows you to integrate non-SAP automation for various goods and services. Marrying historically siloed data with AI techniques can thus contribute to demonstrable ROI.
6. Integrate third-party content into SAP S/4HANA
SAP S/4HANA has been the backbone of most IT strategies. It provides critical infrastructure to support a variety of use cases. Most organizations know that connecting to third-party content is crucial for their ongoing success and competency. Such integration can help you create unique sector-specific use cases, so do not hesitate to integrate third-party content.
7. Use available data to speed up innovation lead time
Intelligent data management can help you break down information silos and provide you with the insight and control necessary to make tactical business decisions. When organizations collaborate to share and manage data, both parties can create tremendous potential value for their businesses.
However, tapping into the value of data ecosystems can be a challenge. You can overcome this challenge by starting small and scaling later and involving partners early on. SAP S/4HANA allows you to effortlessly harness their data by breaking down your corporate strategy into different streams. Thus, businesses can dramatically lower risk and accelerate implementation.
8. Leverage SAP Cloud Platform
SAP S/4HANA cloud database allows you to make faster decisions. Since you can integrate data from across your enterprise, you can develop applications and tools required to store volatile data. SAP Cloud Platform allows you to avoid repeating failures and minimize cost.
Manage the change impact
The SAP S/4HANA journey brings in a significant change. Treating this journey as a minor upgrade can lead to missed opportunities to leverage its full potential. This makes it extremely important to partner with the right service provider to guide you.
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Why is SAP the Go-to Solution for Managing Your Complex Business Functions
SAP is a powerful ERP solution for all kinds of enterprises and their subsidiaries. From streamlining and automating to standardizing your business, SAP for business performs numerous functions and accelerates business growth.
Systems, Applications & Products in Data Processing or SAP is one of the world’s leading ERP (Enterprise Resource Planning ) software. The software consists of several integrated modules that cover virtually every aspect of modern business management. Fingent, being an SAP Silver Partner, helps you realize the full potential of the wide-ranging SAP solutions that can maximize your business performance and boost profitability.
How does SAP help businesses?
Most of the traditional business models have decentralized data management, with each department storing its operational data in the individual database(s). Decentralized data storage makes it difficult for employees from different departments to access each other’s information needed to complete their tasks. Moreover, duplication of data across the departments leads to data errors and increases IT storage costs.
SAP software centralizes data management and provides multiple business functions with a single source of the truth. This enables companies to manage complex business processes efficiently, allow easy access to employees of different departments, and gain real-time insights across the organization. It helps businesses improve operational efficiency, increase productivity, boost customer experience, and eventually increase profits.
SAP for business
SAP for business offers solutions across different areas such as:
- ERP and Finance
- CRM and Customer Experience
- Network and Spend Management
- Supply Chain Management
- HR and People Engagement
- Business Technology Platform
- Digital Transformation
- Digital Supply Chain
- Small and Midsize Enterprises
- Experience Management
- Industry Solutions
- Industry 4.0
- Intelligent Enterprise Solutions
- Cloud solutions
SAP for business maximizes business performance by giving companies step-by-step guidance to set up their tech infrastructure.
1. Wide-ranging experience
From government financial institutions to small businesses, SAP provides tech solutions to everyone. We extend our support, right from identifying your requirements to implementing and testing your SAP solutions to maintaining them once they are in place.
2. Efficiency improvement
In the past, companies were forced to repeat tasks day in and day out. Thanks to technology! The situation has changed today. Technology has provided companies with more innovative ways of doing repetitive manual tasks. From collecting large amounts of data to filling the databases, SAP offers an efficient and faster way of doing things.
Enter SAP IRPA. This Intelligent Robotic Process Automation suite accelerates your move towards Intelligent Enterprise. With SAP IRPA, you can redirect your resources to high-value functions.
Additionally, SAP provides several options to streamline different business processes and improve efficiency throughout your organization, such as SAP S/4HANA, SAP Analytics Cloud, SAP Fiori, etc.
3. Affordability and scalability
Small businesses and start-ups face the challenge of ensuring that their technology infrastructure is scalable. It means you will have to accommodate the growth in every aspect of your business. You will have to consider fitting more data, equipment, and employees. For this, you will need a system that can accommodate growth easily without the need to make changes from the grassroots level. That is where the SAP system comes into the picture. It is designed to scale up smoothly according to your business requirements post the initial implementation.
SAP for business ensures that you never invest in resources that you don’t need and instead try to derive the most out of your IT budget.
4. Enhanced predictability
As a business leader or owner, you must have access to the most accurate information related to your business so that you can plan well for your business. As SAP ERP solutions are designed to provide you with options in generating company forecasts, you can easily access the real-time facts and figures stored in the SAP system.
You can use the data, facts, and figures saved in the SAP system to prepare realistic forecasts of your business and make informed decisions.
5. Flexible solutions
SAP helps you achieve significant flexibility in adapting to changes in the market dynamics. Your business must adapt its functions to the changes in the market dynamics if you want your company to grow and expand.
It is well-known that user perspectives change over time, regardless of the industry. Hence, it is crucial to attain enough flexibility and provide what your target audience demands. SAP-enabled company structure will help you adapt to the changing market dynamics and cater to the industry demands.
6. Smarter data management
Organizing data is one of the most crucial features of the SAP ERP system. Businesses need to store data in such a way that it could be accessed quickly and securely when required.
If you have multiple sources to feed information to your company, SAP helps you gather all the distributed data in one place and keep it organized.
With SAP, you can collect all the information in one place and keep it organized. For example, you can integrate your CRM with the SAP framework and keep all your customer-related information centralized. Fingent offers SAP HCI (HANA Cloud Integration) and PI (Process Integration) capabilities to integrate multiple independent systems/ applications required to run your business processes.
7. Improved compliance
SAP ERP offers the unique ability to track company regulations. Using SAP for business ensures that all operations comply with your company policies and the geographical regulations in the regions where you trade. The system will reject any exceptions automatically or set off an alert to notify you on time.
SAP helps you implement active cooperation among all your company departments and employees.
8. Cost and time savings
SAP will serve as the single source of data for all your company needs. When your employees access more accurate and up-to-date information from a single location, it will automatically reduce your organization’s operational complexities and expenses. Also, regardless of where your employees are working from, connecting to your company’s network will give them access to the centralized SAP system for trusted information, thereby saving a lot of time.
9. Streamlined communication
Whether it is marketing communication or company-specific communication, you can integrate SAP ERP to create compelling modes of communication. For example, you can create a more robust reputation management structure and focus on marketing strategies that help generate higher ROI.
Additionally, you can use flip books or online catalogs to create content that drives traction. If you are looking for business presentations for marketing or a professional portfolio, SAP can help you achieve a great level of finesse.
To sum up,
Apart from the benefits mentioned earlier, there are many more ways that SAP for business can add a touch of sheer magic to your business endeavors and maximize your business performance to a significant level.
At Fingent, we provide SAP implementation and customization services that will help businesses phase out old infrastructure, upgrade to the new systems efficiently, and save money. If you are ready to get your business on to this revolutionary business suite, get in touch with us.
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SAP S/4HANA: The Torchbearer in Intelligent Enterprise Journey
In the present digital age with cut-throat competition in every sector, businesses must offer compelling and consistent customer experience and innovative products and services. Your organization will be able to create a superior, personalized, and enriched customer experience only when you leverage intelligent technologies such as SAP S/4HANA.
Intelligent Enterprise can empower organizations to grow faster in an ever-changing digital environment. As your organization battles with an excess of data from various systems, you may feel overwhelmed. You know you need that data to be doing so much more than it is right now because the ability to make decisions based on accurate and appropriate data is critical to gain a competitive edge in today’s dynamic world. With SAP S/4HANA, organizations can use data, people, and enterprise assets in an aggregated manner that best suits their business.
This article explains how SAP S/4HANA can be the torchbearer on your journey towards an Intelligent Enterprise. Before that, let us consider the reasons why you must become an intelligent enterprise.
Top 5 reasons why your company must become an Intelligent Enterprise
An Intelligent Enterprise leverages intelligent technologies to enable the workforce to focus on higher-value outcomes. Here are the top 5 reasons why your company must become an Intelligent Enterprise.
- Allows your organization to be more agile with a clear chance of sustainable growth
- Achieve breakthrough outcomes in redefining the end-to-end customer experience
- Makes your business processes more effective and reliable
- Delivers a step-change in productivity
- Helps your business to stay ahead of the competition
6 capabilities of SAP S/4HANA that will lead your path to becoming an Intelligent Enterprise
All businesses can become intelligent enterprises by transforming their business models to become more flexible, customer-centric, and responsive to market demand. Here are six capabilities of SAP that can help transform your organization into an intelligent enterprise.
1. Intelligent suite
SAP intelligent suite is a carefully curated ensemble of solutions that address challenges faced by different business functions of an enterprise. This suite helps every aspect of your organization, including employees, clients, customer experience, products, supply chain, IT, and more. It also allows stakeholders to take advantage of in-depth business insights. In short, it enables you to have a 360-degree view of your business.
2. Experience management
To understand why things happen, you must understand the thoughts and sentiments of the people involved. Experience management solutions of SAP are aimed to help businesses improve customer, employee, product, and brand experiences. It is a process of monitoring each interaction stakeholders have with an organization in real-time to spot the problems. Experience management solutions provide insights into the thoughts and feelings of your employees, customers, and stakeholders.
3. Business technology platform
SAP’s business technology platform helps modernize business processes and turn data into action. This digital platform makes it easier and quicker for companies to become intelligent enterprises. It offers more options with one unified business-centric platform for data, analytics, and intelligence. Best of all, it supports application development and integration.
4. SAP industry cloud
As a service, the SAP industry cloud enables organizations to undertake application management work while the platform allows users to access data in real-time. SAP cloud is one of the most popular services today. Its key functionalities include analytics, transactions, security, integration, and more. Thus, SAP cloud empowers your business to discover and deploy vertical solutions leading to industry best practices and extend the current business process.
5. Sustainability management
The SAP suite of sustainability management solutions addresses various sustainability needs. It can integrate compliance and safety activities while improving the sustainability performance of an organization. It enables businesses to understand and manage their impact on people and their environment.
6. Business network
Across all industries, businesses have reported disrupted supply chains and effects on day-to-day business operations because of the pandemic. SAP’s business network helps enterprises adjust quickly and responsibly to disruption and fast-changing market demands. It enables companies to reinvent business methodologies with the help of interconnected value chains and flexible networks.
These six capabilities can help your business achieve the best possible results as you embark on the intelligent enterprise journey.
How do you know if you need to become an Intelligent Enterprise?
Answering the following questions will help you understand if you need to embark on the journey to become an intelligent enterprise:
- Is your company focused on customer experience?
- Do you employ an experience management platform to understand all the people involved?
- Does your company leverage intelligent technologies such as ML, AL to provide the agility and speed required for growth?
- Does an SAP cloud platform connect your business process to provide you real-time updates?
If your answer is ‘no’ to any of the questions, you know you need to get on to the path of becoming an intelligent enterprise TODAY.
Are you ready to implement an Intelligent Enterprise strategy?
The intelligent enterprise is a strategy that uses the above technology to turn data into actionable insights. This strategy enables your business to be more agile and increases the opportunity for sustainable growth. An intelligent enterprise is an approach or a strategy that your organization adopts by leveraging SAP S/4HANA. Now that you know what an intelligent enterprise is and how you can leverage SAP S/4HANA to become one, you must think about implementing it for your organization.
Though every industry is different, and the outcomes may vary, a common link across sectors is “customer experience.” Hence, it is vital to remember that the journey to becoming an intelligent enterprise starts with defining your business goals across the organization with the customer experience at the forefront. Once you define your goals, your organization must implement the essential capabilities of SAP S/4HANA at the highest level.
Become an Intelligent Enterprise ASAP
SAP S/4HANA is a vital blueprint to becoming an intelligent enterprise. SAP solutions can empower you to become a leader in your industry. SAP S/4HANA provides you a risk-free approach that allows for a seamless transition into an intelligent enterprise without business disruption.
Fingent offers SAP S/4HANA custom implementation and migration services.
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Why partner with an SAP AMS provider like Fingent
SAP AMS provides many benefits in managing and maintaining a company’s SAP ERP system. IT management’s role in companies has changed dramatically during the pandemic. The demand for SAP AMS (Application Management Services) is no different. As a result, applications must be adapted and kept up-to-date with the latest technological developments. Moreover, problem-solving takes time. This is a risky situation for businesses that are dependent on perfectly functioning IT.
Therefore, it is clear that to derive all those benefits from Application Management Services (AMS) while managing complex SAP applications would require an expert technology provider. An experienced partner like Fingent can ensure successful SAP application support and management. Fingent is a certified SAP Silver Partner authorized to deliver a defined SAP application support process. This blog discusses the top six benefits of working with an SAP AMS provider. Let us begin by understanding what AMS is and why it is crucial for your business.
What is SAP AMS, and why is it important?
SAP Application Management Services (AMS) are processes used to maintain, enhance and manage enterprise SAP environments. It includes development, implementation, testing, maintenance, and support. These services can be delivered by a qualified consultant that can leverage their expertise and business knowledge to provide maximum value to your company. Because they do this repeatedly, the time value is saved. An AMS provider gives you the ability to be more strategic with your SAP solution.
Here are three reasons that make AMS vital for your organization:
- Your IT becomes more strategic and less tactical
- Tailored AMS solutions can meet your specific business needs
- You will receive 24/7 assistance for your applications
Top six benefits of partnering with an SAP AMS provider
Gaining control of your digital landscape is imperative for business success. You will find it challenging to meet business requirements if your application demands too much attention. Working with an AMS provider allows your IT team to focus on strategic projects, giving your business the needed technology boost. Here are some key benefits of working with an SAP AMS provider:
1. Enhanced flexibility
We live in a world where you cannot predict what might turn everything on its head. This presents a need to be flexible in business. No matter which industry you are from, you are expected to adapt to any new situation and forge ahead. In other words, the more flexible and adaptable your business is, the more successful it will become. This makes it a smart move to keep up with new solutions constantly. Partnering with a capable SAP AMS provider will reduce the burden of suddenly having to implement more extensive projects.
2. Strategic overview
A mature SAP AMS provider will know what is essential to obtain more value from your SAP solution. With that aim, the provider will enable your organization’s IT team and resources to be more strategic than tactical. A good AMS provider will ensure that they fit seamlessly with your IT staff as an extension that enables your team to drive and deliver value-added SAP solutions.
3. Round-the-clock, follow the sun operation
Businesses looking for highly efficient, stable, robust, and cost-effective operations of their SAP environments must work with SAP-certified partners to enjoy maximum benefits. Most SAP AMS providers offer maintenance for daily operations, 24/7 production support, database services, etc. However, supporting more critical aspects such as functional and technical consulting of various SAP modules requires an experienced AMS provider who can bring in the prowess to turbocharge your applications’ landscape.
Fingent as a certified SAP Silver Partner delivers beyond the promise of regular maintenance. You can rest assured of an infrastructure that is ready to meet future challenges.
4. Tailored AMS solutions to fit your business requirements
The ideal SAP AMS partner knows your business so well that they will quickly adapt to fit your needs. Such knowledge about your organization is gained over time by maintaining a long-term relationship with your company. When you work together in partnership, you can define a right-sized and right-stored delivery model that perfectly fits your organization’s specific needs. A wide range of AMS solutions along with a capable AMS provider offers the possibility to custom-make your solution package to fulfill your unique requirements.
5. Well-equipped to positively improve ROI
Many successful organizations look for new and innovative ways to help them improve their ROIs. Partnering with an SAP AMS provider will help your business adopt new technological changes without requiring to train your employees rigorously. The AMS provider can help your business handle demands more productively. Well-maintained AMS can generate automatic reports that can help your business determine the actions taken to improve your ROI.
6. Save money with AMS
Working with an SAP AMS provider can help businesses save money. Your organization will no longer have to hire employees to carry out separate tasks. You could hire a team of professionals from your SAP AMS provider and pay only for the services you have used rather than pay for every employee individually. The amount thus saved can be directed to another department and used in the best way to generate more profits for your business.
Choice of SAP AMS provider
Remember, the choice of your SAP AMS provider directly impacts your business operations. To find a perfect match when choosing an SAP AMS provider, you must ensure that they provide deep SAP expertise along with an in-depth understanding of your IT infrastructure and process. Apart from technical expertise, your provider must have the industry know-how to understand your company’s unique needs and possess the ability to add immediate value.
We assure you that you can benefit from our SAP AMS approach at Fingent. Our AMS program can help your organization irrespective of your company’s size or your industry type. Fingent’s SAP AMS practice excels at helping you achieve operational and strategic objectives with superior technical expertise and industry knowledge. We ensure uninterrupted business operations and ongoing productivity improvement in your organization. Talk to an expert to learn more.
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Fiori vs. Screen Personas vs. Lumira: Which SAP UI platform best-fits your requirements?
User experience defines customer experience today. User expectations vary with individuals, previous experiences with software, or devices. People tend to leave a mobile app or a web application if they find it slow, inefficient, and difficult to use. Amazon’s open and highly navigable UI has made it a leader in e-commerce, with 29% of baby boomers and 21% of Generation X ranking its UX as the best a web or mobile app can offer. This example of Amazon tells us how vital UI is to create and deliver an unparalleled user experience.
Being a leader in enterprise applications, systems, and products, SAP has always developed user interfaces that its customers appreciate. Over these years, SAP has come up with replacements to its traditional SAP GUI, designed on platforms like NetWeaver. As the UI technologies mature, the tools used for design and development transform. This piece analyzes three of the most popular SAP UI offerings and their benefits: Fiori, Screen Personas, and Lumira.
1. SAP Fiori
Built on the latest design principles, Fiori is one of the most contemporary and enhanced user experience offerings. Fiori applications are device-independent, easy to use, and easily configurable across tablets, desktops, and smartphones. It simplifies workflow approvals, information lookups, and self-service tasks and brings excellent user experience to enterprise applications.
SAP Fiori enables multiple device applications through which a user can start a process on her laptop or desktop and continue it on a smartphone or tablet. For unmatched application response and query-execution time, SAP Fiori can be combined with SAP HANA. It’s easy to set up Fiori and configure a transaction application in systems that run on ECC 6 or EHP 7+ versions. Fiori aligns with SAP’s future UI/UX strategies by offering a modern and delightful user experience.
Benefits of Fiori
- In addition to increased productivity, research reveals that Fiori delivers a 64% reduction in time needed to complete a task than SAP GUI.
- Fiori is simple and easy to learn, so it has a better adoption rate and cuts training time.
- Fiori offers more intuitive workflows that feature business logic instead of SAP logic. So employees tend to get less frustrated.
- Users without SAP expertise find Fiori easier to use.
- Unlike the mouse-keyboard structure of SAP GUI, field technicians and employees can use Fiori-based applications on different device types.
- Developers find less need to build their tools on SAP HANA.
2. Screen Personas
Screen Personas is a UI framework or a tool that enables modifications to the existing SAP GUI by allowing you to add or remove fields your users don’t need, collect data automatically using the scripting engine and bring scattered data to a single screen using the editor. Screen Personas is ideal for automating and streamlining business processes and simplifies transactions to create the Fiori user experience across all the devices. This UI offering is included in the standard SAP ERP license.
One of the significant drawbacks of Screen Personas is that it remains limited to the current transaction screens. While it is possible to combine transactions or load extra information via Bapi’s, there could compromise the performance. We can use Screen Personas on different devices, so it becomes necessary to build a separate ‘flavor’ for each screen size, which means extra development time is needed. Further, there are offline options for Screen Personas.
Benefits of Screen Personas
- It reduces the number of clicks by simplifying SAP GUI transactions, simplifies user interfaces, and improves user productivity and data quality.
- Allows users to access data and fill-out data on their mobile devices, making working on the go a breeze. Screen Personas has improved the work experience on the go and in dynamic work environments like the factory floor.
- Screen Personas can be leveraged to bring SAP Fiori experience to transactions and SAP S/4 HANA.
- Reduces the cost involved in training the employees.
- Boosts your company’s image and branding.
Also known as a visual intelligence tool, SAP Lumira helps create stories and visualize them on a dataset. You can enter the data in Lumira as data sets and then apply filters, calculated columns, and hierarchies to build documents on Lumira. To visualize the data effectively, you can choose different charts such as pie charts, bar charts, etc. The tool is simple and has a user-friendly interface that allows you to create captivating visualizations and analyze data without scripting.
Benefits of Lumira
- From fact-based solutions to complex business questions, Lumira improves decision-making by avoiding list tables and fixed format reports.
- Integrates wide-scale insights that include minute details, which helps maximize business knowledge.
- Increases self-service data usage without burdening the IT department
- Visualize vast quantities of data in real-time using SAP HANA and deploy the same to mobile devices.
SAP Lumira Standard Edition is a paid version and SAP Lumira Personal Edition is available for free download.
UI focused on design thinking
SAP technologies are focused on design thinking and define methodologies to address business challenges. Design thinking provides creative ideas and solutions to resolve complex use cases.
Intelligent technologies from SAP, such as Leonardo, IRPA, Edge Services, IoT, etc., are designed to be integrated with any of your existing SAP ERP systems like ECC or S/4HANA. For instance, you can use IoT services to create Fiori apps in the SAP Cloud Platform. When integrated into your business processes, you will not know there is machine learning involved as an end-user, and you won’t see any apparent changes. However, you will experience automatic decision-making or recommendations.
There is no denying that SAP technologies and tools are evolving to offer an enriching user experience. Its unique UI offerings like Fiori, Screen Personas, and Lumira are designed to address customer priorities, UI expectations, and investment. Are you looking to create a successful UI strategy for your organization? Fingent helps you make the best of SAP’s UI platforms. Contact our expert today and discuss your requirements.
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SAP Analytics Cloud: 7 proven ways it can help your business
From manufacturing to marketing, businesses worldwide face unforeseen challenges as they continue to meet the impact of the COVID-19 pandemic. Many organizations are accelerating digital transformation, establishing variable cost structures, and implementing agile operations to emerge from the pandemic stronger.
While most companies believe that the pandemic will negatively impact their business, some businesses feel that the consequences will be short-term. Although most firms have been affected by the pandemic, a survey shows that two-thirds of micro firms are severely affected by the crisis than 42% of the large companies.
Amidst this uncertainty, companies must consider how the pandemic’s continuation or return in different regions will impact their recovery strategies. Businesses must face this uncertainty by reassessing assumptions, re-evaluating scenarios, and strengthening their ability to respond.
Read more: 11 Practices Followed by Leaders to Build Resilience and Ensure Rapid Business Recovery
Simply put, now is the time for businesses to focus on supporting critical areas of their business that will help them stay relevant in the new environment and plan new strategies for what’s next.
Critical areas for businesses to focus presently
- Operations and supply chain
- Strategy and branding
- Tax, trade, and regulatory
- Crisis management and response
What can businesses do?
- Leverage their crisis management team to focus on efforts in the wake of the crisis.
- Shift your focus on bringing back employees to work, assess your company’s response efforts to date, and evaluate areas for real-time course corrections.
- Use the insights the crisis has provided to help chalk out better strategies and capitalize on the opportunity for transformation.
SAP Analytics Cloud has changed the way businesses plan their strategies. It is a robust, agile analytics platform that helps firms arrive at faster and improved business decisions. Moreover, it delivers insights that can be used for enhanced decision-making and optimize resources across all processes.
Combining our functional and industry expertise with SAP Analytics Cloud, Fingent delivers analytics solutions that drive your competitive advantage, reduce costs, and increase revenue.
What is SAP Analytics Cloud?
SAP Analytics Cloud or SAC is one of the best SaaS solutions that combines all the functionalities such as planning, predictive, business intelligence, and more in one user interface. It helps save time and effort while making improved decisions.
SAP Analytics Cloud comes in two modes: Private and Public. As the name suggests, the Private edition hosts only one customer while the Public edition offers multi-tenancy. Also, cost-wise, the public edition is less expensive than the private edition.
Also read: Fingent offers e-Invoicing integration for SAP ERP users in India – Stay compliant with GST India e-Invoicing
Top 7 business challenges solved by SAP Analytics Cloud
1. Planning and consolidating financial strategy in one solution
SAP Analytics Cloud puts together- planning, predictive, Business Intelligence, and augmented analytics competencies into a simple cloud environment that allows you to consolidate your finances, expenses, and revenues at a single source across your whole organization.
2. Discovering useful insights
SAP Analytics Cloud joins hands with machine learning and augmented analytics to help convert insights that deliver value across your business.
Augmented Analytics allows you to explore your data automatically, discover cycles and trends, and identify possible ways to effectively chalk-out your expenses and cost plans. These intelligent insights can be turned into an actionable plan using a personal sandbox environment that helps visualize your performance metrics and simulate potential budget outcomes.
3. Aligning plans across your business
There’s no denying that financial and operational planning is a must when working with multiple teams and stakeholders. SAP Analytics Cloud helps you make smart decisions. It comprises several collaborative enterprise planning tools that allow you to link and align your expense and cost plans across departments such as HR, sales, finance, marketing, IT, and supply chain in real-time. These benefits eliminate the need for sending out unnecessary emails enclosed with irrelevant plans and avoid collaborating without context.
SAP Analytics Cloud allows you to create and assign tasks with the calendar, communicate with your team in real-time with the discussion panel, and collaborate directly on your plans with the data point commenting tool.
4. Improving planning cycles with predictive analysis
Gone are the days of the tedious manual building of your expense forecasts. SAP Analytics Cloud includes exceptional machine learning and predictive analysis technology that can help you build accurate expenses and cost plans much faster.
You can use the predictive features to automate baseline expense planning forecasts based on previous data. You can then monitor plan attainment with real-time, up-to-date predictive forecasts. Its accuracy indicators enable data analysts (without any technical knowledge) to trust the data-driven predictions before including them into their planning process directly.
5. Enhancing strategic business decisions
With SAP Analytics Cloud machine learning technology, you can convert insight into action within seconds. Automated technology helps you avoid agenda-driven and biased decision-making as it provides you with insights that drive your business.
- Search to Insight – Natural language query generates visualizations to answer your questions instantly. Machine learning technology provides you with important trends quickly.
- Smart Insights – Machine learning technology helps you save time and focus more on high-value activities by allowing you to understand the significant contributors of data points without the need to pivot your data manually.
- Smart Discovery – This allows you to identify key influencers and relationships in your data to help you understand how business factors influence performance. Also, it can detect anomalies and help you take corrective measures. With machine learning projection, anyone can simulate the impact of strategic business decisions.
Case study: Automated Integration between SAP SuccessFactors-Employee Central and SAP S/4HANA – Find how Fingent helped the customer gain real-time insights for improved decision-making
6. Data modeling
SAP Analytics Cloud helps you plan and build the right model where your data is stored efficiently. With this end-to-end solution, you can immediately take action and start planning. The data modeling feature allows you to prepare your data for analysis. “Models” and “Stories” are the two key components of SAP Analytics Cloud’s BI function. Models allow you to enhance your data by cleansing, wrangling, establishing hierarchies, defining rules and conditions, and adding formulas. Stories give life to your data by letting you visualize your information through charts and graphs, which will help you gain valuable business insights.
7. End-to-end industry dashboards
SAP Analytics Cloud offers business content packages tailored to individual analytic scenarios. Each package entails aesthetically built dashboards, stories, and data models carefully designed for specific lines of business and end-to-end business scenarios. Also known as Analytics Content Network, this business content library offers tried and tested best practices for leveraging your available data and accelerating your go-live. The content network is customized to work with existing SAP data sources such as SAP S/4HANA or SAP C/4HANA.
Today, businesses need to forecast changes ahead of time. SAP Analytics Cloud helps to anticipate and plan for the impact of the crisis on business. How a business responds to challenging situations determines its strength and potential to recover.
Fingent is an SAP Silver Partner. With our expertise in cloud computing and SAP services, we can support you through this critical time and help stabilize your business operations and strategize for the future. Get in touch with our expert to discuss your requirements.
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How SAP S/4HANA Helps CFOs to Overcome The Slump and Steer Business Forward!
Unpredictable times such as these call for an “anytime, anywhere” finance function, and CFOs are expected to take the lead in accelerating strategic growth across the enterprise. Therefore, suddenly the CFOs found their organizations in a firefighting mode: gauging risks, preserving cash, and rapidly revising all financial plans and forecasting for the next month, quarter, and year. At this point, most CFOs found technology to be a key driver for improving transparency and efficiency. SAP S/4HANA is ‘the’ technology that supports the evolution of the finance function today and into the future.
However, this journey is not easy. Companies must develop a business case for SAP S/4HANA that will support their strategic vision. By leveraging the right finance technology innovations and partnering with a trusted SAP solutions provider, companies can maintain global regulatory compliance and engage in efficient finance processes.
Technology assists CFOs to control accounting and tax standards and engage with the business to jointly drive value. Having said that, technological trends that have been sitting in incubation mode have now emerged as real working models. This article discusses how SAP S/4HANA can leverage the CFO’s vision of becoming a value creation role model for the business.
Typical challenges for the CFO’s vision
Most often, a CFO’s agenda is held back by their organization’s complex technology landscape. This often renders efficient closing and reporting impossible within expected timelines. Such cumbersome systems hamper the management of working capital while making it difficult for finance departments to obtain reliable figures for profit and loss or forecasted budgets.
Perhaps you find yourself in this situation: At the end of the month, you find that you could not meet the deadline for the period closure. To make matters worse, mistakes made during the month must be rectified, data from different systems must be imported randomly into an Excel sheet. That is not all! All this information must be manipulated into a decent report. You take a breath that eventually it all worked well. However, the same thing happens the next month, and this pattern keeps repeating itself month after month. That stress peaks by the year-end. Amidst all this chaos, you are left with little time to proactively steer the company based on those figures. You may wonder, is all this financial data gathering purely an obligation just to satisfy auditors?
Companies can gain much profit by keeping admin up-to-date and proactively adjusting the business based on current financial data. That is the biggest advantage SAP S/4HANA provides. It gives the reins of business into your control.
Three focus areas where CFOs can gain more control with SAP S/4HANA
1. Control system landscape
As a CFO, you must deal with various financial systems and programs that contain your financial data. All financial data must be collected continuously and loaded into a reporting tool. Apart from this, data must also be entered into an Excel program. Such a fragmented landscape with a jumbled interface leads to errors, data duplication, and the probability of inconsistent data. This translates into enormous amounts of wasted money and time. Replacing this complex structure with an integrated system saves a lot of time and money. SAP S/4HANA provides CFOs a simplified landscape that leads to more control.
Read more about our Case Study: How Fingent successfully automated the integration between SAP SuccessFactors and SAP S/4HANA. Click here to download!
2. Control over processes
Fragmented processes lead to many errors and waste much time. However, once your system landscape is integrated, you will be able to optimize your processes. This will save time, which you can use to proactively manage the company with critical decision making based on your current financial data. This is where SAP S/4HANA finds value. It offers possibilities to automate and integrate processes. It allows you to add smart KPIs. This, in turn, helps you decide which areas need your attention and avoid those that are less important.
3. Control transactions
Entering data several times on different screens and in various steps leads to incomplete data. Most often, no valuable information can be retrieved from such a system. Nevertheless, S/4HANA can ensure that the transactions are carried out correctly. This will keep the data informative and up to date.
How S/4HANA can transform the landscape to help embrace a CFO’s vision
The challenges faced by CFOs and finance professionals today are complicated, but S/4HANA can simplify them. CFOs can seamlessly unify their information landscape to remove gaps and ease pain-points by leveraging the in-memory data and processing capabilities of SAP S/4HANA architecture, and cloud deployment scenarios.
Instead of grappling with disparate pieces, this approach enables CFOs and financial professionals to see a holistic real-time view that encompasses all operational data sets and analysis capabilities within a single unified architecture.
What is the impact of SAP S/4HANA on CFOs?
SAP S/4HANA improves access to information, and the ability to manipulate that information. Additionally, it can dramatically improve the real-time analytics performance. Thus, with the help of SAP S/4HANA, CFOs have more power to show the management board what they can achieve.
Empowered with SAP S/4HANA, CFOs know that they can respond impromptu to the management board’s questions. With that power, they can just tap for details and input from the live business. Usually, the management board fires off questions after the CFO delivers the company report. Such questions could be linked to newly acquired subsidiaries or similar activities. SAP S/4HANA gives CFOs instant access to all data and processes of the company. Thus, a CFO is now able to include outcomes of the newly acquired business. Also, SAP S/4HANA allows you to model the efficient integration of identical operations and product hierarchies. This allows CFOs to join key drivers in their simulation model with new business planning and get instant combined results. In turn, it will help board members to figure out the impact of global cash flows and financial position.
CFOs can pull real-time cash and liquidity data of all business systems. With the analytics in SAP S/4HANA, they can advise the board confidently if the venture would be profitable. Evidently, CFOs do more than just crunching figures. They give the board a preview of what the business could look like after a merger or with an investment. To that end, SAP S/4HANA enables CFOs and financial professionals to predict potential market growth in addition to current operations.
How can SAP S/4HANA help CFOs achieve their prime objectives in an agile manner?
1. Financial planning, data processing, and analysis
Proper financial planning is a strategic objective for organic business growth. However, proper financial planning depends on the availability of financial data for profitable growth. Financial planning must be aligned with the growth strategies of the organization. It must be analyzed to explore new products, channels, and markets. With an embedded BPC solution for planning, SAP S/4HANA provides agility, flexibility, and accuracy in the planning process. Since it is available in the enterprise core system, no time is wasted in data loads and data reconciliation. It makes previous years actuals available for making plans. Financial data can be churned easily to simulate various growth strategies and help the organization make informed decisions.
2. Support corporate growth
Businesses expect CFOs to support them in driving growth strategies, both organic and inorganic growth. Mergers, acquisitions, and decisions to expand business in various geographies play an important role in growth strategies. To that end, SAP S/4HANA provides real-time financial reporting that reduces the time-consuming reconciliation process. This results in a quick closing. Since it is supported by analytical dashboards with simulations, it can help CFOs make strategic decisions with accuracy and agility.
3. Gain a competitive advantage
CFOs want to keep an eye on regulatory changes and changing domestic and international economic conditions because it gives an opportunity to drive competitive advantage. They can do this with the support of SAP S/4HANA. Since it is an innovation platform it can help CFOs to reimagine and reinvent their processes. Thus, it can bring agility to their decision making.
SAP S/4HANA upholds agility and accuracy of financial information
An ongoing concern for CFOs is the lack of agility in getting financial reporting. Additionally, manual data reconciliation results in inaccurate data. However, SAP S/4HANA provides financial reports in real-time. Its universal journal feature brings in simplicity and flexibility. Since it allows you to store data in a single table, slicing and dicing the data is made easy. This makes reporting at multiple dimensions simple and real-time.
Most CFOs realize that managing evolving technology such as SAP S/4HANA is not just about streamlining operations. It is also essential for managing fraud detection, regulation, and compliance. Compliance requirements have become stringent globally. SAP S/4HANA provides a comprehensive solution for fraud and risk management.
Laser focus on your core competency
CFOs and finance professionals do not view themselves as bookkeepers. They are business outcome-focused leaders and business partners who are stewards of the company’s profit and resources. They are innovators and strategists. CFOs are those who can overcome economic uncertainty and use financial data for growth. Hence, they must be trusted advisors to the management board while overseeing the job of managing cost and profitability. In short, a CFO must be a multitasker! SAP S/4HANA provides the platform and tools for efficient multitasking. It supercharges a CFO’s vision of becoming a value creation role-model for the business.
As CFOs grapple with new disruptive business models, SAP S/4HANA Finance can help them in their decision-making process at a tactical and strategic level. Being an SAP Silver Partner, we are helping CFOs to gain new insights and reliably enable key decisions.
Talk to an expert to understand how we can enhance your organization’s ability to pivot quickly and adapt to dynamic business scenarios.