“By failing to prepare, you are preparing to fail.” – Benjamin Franklin
Profound words that underline the importance of business planning. Business planning is the right strategy to ensure business productivity. With business getting more complex and planning tools filling up shelves, enterprises need a more straightforward way to manage business plans and improve sales. Only a few of the many products available have a holistic end-to-end approach to information analytics services.
SAP Analytics Cloud is a distinct analytics tool. It integrates analytics throughout the business process and across every level of an organization. It is an impeccable and compatible solution for enterprises that are involved in sectors like manufacturing, finance, and sales. This is an effective cloud-based tool that can analyze the data irrespective of the size of your firm. Plus, it allows you to transform this data into charts, tables, graphs, and more.
This article will help you determine how SAP Analytics Cloud enables enterprises to improve business planning. Read on to check out the features that will let you boost your business and help you stay competitive.
Top Two Features Of SAP Analytics Cloud For Effective Enterprise Planning
SAP Analytics Cloud is the first and the only tool in business intelligence that caters to all aspects of the business. It assists you in organizing and managing your data visualization, business planning, and predictive analysis.
Here are the SAP Analytics Cloud core planning features:
1. Augmented Analytics
Augmented analytics capabilities can help existing AI-powered analytics to offer business insights in real-time. You can add these capabilities to business planning and workflows. This contains an enhanced ‘Search to Insight’ capability allowing users to ask questions about data in natural language. Further, it can automate insights that include values and simulations.
The ‘Smart Predict’ feature can help train models to predict future outcomes without manual intervention. This enhances user experience allowing business analysts to predict future outcomes more accurately and automate decisions, preventing time lapse. Ultimately, SAP Analytics Cloud smoothens the process and improves business management.
2. Enterprise planning
Collaborative enterprise planning ensures one version of the truth across the enterprise. Thus, it brings users together to align with the plan leading to better business outcomes.
The zero-based budgeting feature helps allocation of resources efficiently. The embedded collaboration tools ensure that every member of the finance team is aware of relevant information while they discuss finance issues. Plus, all the relevant budget templates are recorded and saved for the quick action and enhanced productivity.
SAP Analytics Cloud allows its users to analyze, plan and predict at one location. This can speed up planning cycles and help make informed decisions. Built-in features such as financial modeling, automated reporting enable enterprises to make better end-to-end planning decisions.
Planning and consolidation applications allow businesses to connect complex planning processes to the cloud. Thus, enterprises can create business plans and adjust them within the SAP Analytics Cloud. This allows enterprises to extend and align their plans across the organization leading to better outcomes.
Features That Improve Agility In The Enterprise Planning
1. Data and data visualization
Data visualization represents your entire business process. It is this important to find all the possible ways of viewing and understanding the data at a glance. This is where SAP Analytics Cloud can help. It can help make your data highly visible. These analytics offer quick answers to critical questions that can improve your business decisions.
Businesses need to gather enormous amounts of data each day from all their departments and other sources in sales. The next challenge is storing all this data in a secure place. SAP Analytics Cloud is the perfect place to store your data as it is most secure and easily accessible to all relevant people in your organization.
You do not need technical expertise to create a model from unrelated data sets of your company. It is quite similar to adding data to a story. Depending on the type of data, your models can either be simple or complex.
In any case, models help you organize present your data so that you can gain insights into your business. The models in SAP Analytics Cloud organize and present the data in rows and columns. This offers a unique, clear view of your data that is ready for analysis.
Stories occur in two phases: data view and pages. These two capabilities can enable you to gather data and connect it to create a model. This model is refined when you add data to make a story. These stories can empower you to make quality decisions for the success of your business.
What Are The Benefits Of SAP Analytics Cloud?
SAP Analytics Cloud offers many benefits for enterprises that are on the SAP. Here are a few:
1. Access data on the fly
SAP Analytics Cloud can be integrated to work both on Android and iOS devices alike. It allows your users to manage all their business activities even on a small screen from anywhere, at any time.
In today’s fast-moving world, your finance team needs the ability to create viable forecasts at a moment’s notice. Using SAP Analytics Cloud will enable your business process to remain proactive, not reactive.
2. Real-time insights
SAP Analytics Cloud functionalities allow all relevant users to generate instant insights to enhance decision-making and improve business outcomes.
3. No more silos
SAP Analytics Cloud allows for integrated planning across your organization. This means you can rest assured that all those involved in the decision-making process have the whole picture, not just a small part.
4. Customized dashboard
Enterprises are always on the lookout to improve data visualization, which helps in having a better interface for successful operations. Thankfully, SAP Analytics Cloud allows its users to customize their dashboards to help them navigate through the system and offer a personalized look. This way, business owners have relevant data on their interface just the way they like it.
5. Increased efficiency
SAP Analytics Cloud facilitates easy collaboration across your organization. This allows for quicker approvals, contributions, and comments. Plus, automation and ML helps in creating plans that are more productive, leading to faster results.
6. Minimize errors
Integrating SAP Analytics Cloud with SAP S/4HANA will allow the enterprises to minimize or eliminate errors that occur while making changes on multiple files on the cloud. You can make changes without manual intervention in the source system.
Power Charge Your Business
SAP Analytics Cloud is unique. It offers businesses real-time data to manage their resources effectively. Their tools keep getting newer updates to make it more reliable. As an SAP Silver Partner, Fingent has the expertise necessary to help you make the best use of this power-packed tool. Let us discuss your business and see how SAP Analytics Cloud can help you. Call us.
In the current circumstances where industries are experiencing periods of intense change, organizations need a new paradigm. They need a product that must be capable of reframing the problems which were addressed by previous solutions or that targets a new set of problems. They also need a partner who can effectively deploy the solution and provide assistance whenever there is a need. SAP created a solution that addresses a set of existing problems through the method of reframing them, thereby presenting a novel way of addressing these issues in the form of BTaaS-Rise with SAP. Rise with SAP helps enterprises gain digital efficiency and flexibility.
Do you feel this pathway to intelligence is formidable and elusive? If so, rest assured that we, at Fingent, understand the challenge you face. This blog will help you understand what the benefits of the initiative are, how we approach it, and how we can help you deploy these services.
What is BTaaS-Rise with SAP
BTaaS (Business Transformation as a service) Rise with SAP is a suite of services and products. It is designed to accelerate the transformation into creating an intelligent enterprise. It is a direct response to the challenges in the steady acceleration of change in all areas of business.
As BTaaS, Rise with SAP can help businesses remain resilient and adapt to digital transformation quickly despite cutthroat competition in their respective industries. It offers these five components to build an Intelligent Enterprise:
- Technical Migration tools and services
- S/4 HANA cloud
- SAP business technology platform
- Business process intelligence
- SAP business network starter pack
How Can Your Business Benefit from Rise with SAP?
Rise with SAP allows you to be in control. You can choose where to begin your journey and you can design a suitable strategy that fits your business.
Let us now examine the twofold benefit of Rise with SAP:
Value from differentiating business capabilities and outcomes
This value has a significant impact on shareholder returns. This impact ensures long-term sustainability with purpose. Here are the top three benefits for your business:
- Top line: This includes your strategy, employees, and your products. You can improve your top line by innovating and establishing new revenue streams and business processes.
- Bottom line: You can improve operational efficiencies by eliminating repetitive tasks. You can save time and resources by allowing intelligent ERP to function as a co-pilot providing you with suggestions based on business process patterns and employee behavior.
- Green line: Rise with SAP will help you understand, monitor, and optimize environmental and social impact throughout the value chain. This will help minimize wastage, improve safety, build supplier compliance, and attain resiliency.
Value-driven from cloud delivery capabilities
This is essentially the incremental value. It allows enterprises to maximize value, minimize transformation risk, and reduce cost to the extent possible. Explore the top three benefits for your business:
- Facilitates process excellence: Using process discovery reports, migration tools, and services and other capabilities your enterprise becomes transformation ready.
- Improved service experience: Rise with SAP is a Business Transformation as a service; a simpler support model. Thus, you have the benefit of an improved service experience.
- Operational resiliency: You can hyperscale infrastructure with inbuilt full-stack security.
- Lower TCO: It allows you to use flexible user-based subscriptions and leverage hyperscale economics to lower TCO.
But what do you need to gain these capabilities? Well, you need these three things:
- Technology that can support your company processes
- A cloud provider
- A capable and efficient partner who can help you take greater advantage of Rise with SAP
Role Of Fingent in Leveraging These Services
Fingent is geared to work with enterprises under the framework of Rise with SAP. As SAP’s Silver Partner, we have a credible background in helping enterprises uncover business inefficiencies and redesign their processes to fit their needs. With deep domain expertise, we help them align and achieve organizational goals at optimal costs.
We understand the difficulties some organizations face in making decisions with regard to business transformation. Our program is designed precisely for such organizations. As a trusted Silver Partner, Fingent is here to guide you through every step of this exercise.
We start by developing a deep understanding of your business and your objectives. We then use our expertise in SAP to devise a strategy for a comprehensive business transformation strategy. As a seasoned SAP Silver Partner, Fingent combines its expertise with a deep understanding of user experience to maximize your operational efficiency.
Our approach can analyze complexities around your business processes and adopt a user-first approach. This can drive a successful implementation of Rise with SAP that leads to increased user adoption.
As suggested by Rise with SAP program, our engagement starts with a process and system audit. This will form the backbone for subsequent phases of the transformation process. Fingent will be with you at every step. We work with your business leadership, key stakeholders. We involve key influences to ensure the successful completion of your business transformation.
We Can Help Your Business RISE!
Rise with SAP is another possibility for us to empower clients with the help of the SAP portfolio. In close coordination with SAP, we create tailor-made solutions that increase the value of this initiative for you.
To do this, we combine SAP capabilities with products and services that we have developed ourselves to individualize for your specific needs. This is how we at Fingent ensure that you receive a truly customized solution – one that addresses specific challenges in your specific environment. This will generate the best possible value for your business.
You can rely on us as your sole contractual partner and thus avoid needless complexities. We offer everything from advisory services to application management. All this can be done at your own pace, with your budget, and according to your business needs.
We can smoothen the path of transformation for our existing customers. For our new customers, we can leverage the full potential of Rise with SAP and customize it for your advantage.
Talk to our experts at Fingent and together we will find ways to make the best out of Rise with SAP for you!
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.
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.
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.
Digital core ERP can help bring about innovations across the value chain. Companies have to get ready to compete by leveraging the digital core or be left behind.
Take your business to the next level using digital core ERP!
Organizations commonly use Enterprise Resource Planning or ERP software to streamline their back-office functions, logistics, customer service operations, and inventory management. However, it is not agile enough to match the ever-changing requirements of a digital customer.
To establish agility within the foundation of ERP, providers worldwide are repositioning themselves to adapt to the new shift of digital core. Digital core ERPs such as SAP S/4HANA can help companies to stay relevant in today’s digital economy. Odoo ERP and SAP are two of the leading core ERP vendors that help automate back-office functions and accelerate your journey to the intelligent enterprise.
What is meant by digital core?
Simply put, the digital core includes technology platforms and applications that enable organizations to transform into digital businesses and meet the changing customer needs. Digital core ERP allows companies to overcome complexity in enterprise and resource management and drive business innovation.
It includes emerging technologies such as IoT, AI, machine learning, and advanced analytics that require businesses to adopt flexible, scalable, and cloud-based platforms. Digital core prepares data for machine learning systems, text to speech, neural networks, decision making, and other advanced applications and creates algorithms for business and IT.
The digital core will allow organizations to improve their existing business processes or develop new business models using digital transformation initiatives.
This new integrated system allows business leaders to predict, simulate, plan, and predict future business outcomes in the digital economy.
Why is digital core significant for your business?
Businesses that fail to address the changing enterprise and consumer demands due to their rigid core systems face the risk of losing the competition to their more agile counterparts.
To prevent losing business and reputation, enterprises must leverage digital core in the right way and integrate it seamlessly with their internal and external partners. In other words, enterprises must look beyond digitizing peripheral processes and align their core to meet the changing demands. It will not just eliminate manual steps and deliver agility but also provide a seamless user experience.
Examples of digital core
Finance professionals can leverage the digital core to obtain a single source of truth for finance. Finance departments have to handle reconciliations between internal and external reporting and multiple sources of truth stored in different ledgers. While traditional applications can help optimize and control functions, they cannot create a single source of truth, resulting in data accumulation by reconciling ledgers and valuations. With the digital core, businesses can eliminate reconciliation and execute seamless closing from unified data models. It also improves the allocation and closure of processes by ten times. The digital core’s main advantage is that it helps simulate financials in real-time with many ‘what-if’ possibilities.
The digital core can provide a digital experience along the automotive manufacturing value chain. The digital core can power a connected car to offer a personalized driving experience to drivers, including services like parking and fuelling options based on real-time information. The connected vehicle captures data that can be used for predictive analysis to gain insights into driver behavior and preferences. The digital core also helps enhance manufacturing by moving from batch orders to real-time manufacturing resource planning to meet the growing demand.
What are the benefits of the digital core?
Digital core allows enterprises to integrate business process and transactional data from back-office ERP systems with a large amount of data (structured and unstructured) from different sources. Advanced analytics can be embedded in the digital core data to produce new insights, such as proposing further actions and predicting outcomes. Interestingly, many of these processes can operate automatically in near real-time.
How to prepare for digital core transformation?
Firstly, it is essential to have an all-inclusive digital strategy along with effective executive leadership. Additionally, enterprises can focus on three critical tasks:
- Restructuring the organization
- Transforming the organization’s culture
- Re-platforming their technologies
As digital core transformation will have an impact on both the core and the peripheral assets as well as technologies, the new strategy must allow them to:
1. Push tailor-made solutions
Companies that use SAP products can move to SAP HANA products such as SAP S/4HANA and opt for the right cloud-based products to allow better agility during deployment.
2. Establish strong collaboration with partners
Collaboration with partners will help you achieve faster time-to-market for innovations. Also, you can leverage partner innovations along with data integration to deliver value to your customers continually.
3. Enhance the business
Use business process management tools to optimize your business processes and meet customer expectations. Technologies like cognitive analytics allow businesses to identify strategies that lower their value.
Advanced skill sets and enterprise-wide scale are required for digital core transformation, which may be challenging for most businesses. Therefore, it becomes imperative that you find an experienced and trusted partner who can support your digital core journey.
Here are a few tips for choosing the right implementation partner:
- Evaluate their investments
- Understand their willingness to collaborate
- Gauge their implementation expertise
- Look for SAP or Odoo ERP partners
- Gauge their desire to embrace new products and platforms
Why choose Fingent as your digital core ERP implementation partner?
Fingent offers ERP implementation and consulting services to businesses worldwide. We are an Official Partner of Odoo. Our Odoo ERP implementation and customization projects are tailored for easy adaptability. Fingent is also an SAP Silver Partner. With our expertise in cloud computing and custom ERP development and implementation, 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.
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.
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.
Empowering CFOs to Derive Crucial Insights and Implement Strategic Decisions with Confidence
The role of the CFO is no longer restricted to fulfilling traditional financial duties. With advances in technology, the CFO’s responsibilities are also growing as today’s CEOs and boards demand the finance function provide real-time, data-enabled decision support. The present-day CFOs and their teams serve as gatekeepers to critical data that is required to generate forecasts and support business leaders to make strategic decisions that have a lasting impact.
With that said, what are the challenging areas for CFOs where they can perform better with the integration of the right technology? We’ve tried to list out a few here.
Key Challenges Faced by CFOs
- Acquiring self-service analytical capabilities to garner strategic and operational insights for reliably enabling key decisions and enhancing visibility through the board-room to the shop floor.
- Addressing big data requirements is another challenge. Embedded data analytics that connects transaction executions with immediate insights and analyses is a must-have weapon in the CFO’s armor. With automatic matching capabilities, finance professionals can reduce the time taken to gather data.
- Predictive insights are essential to assess future outcomes. CFOs equipped with predictive analytics capabilities empower organizations through powerful budgeting, planning, and forecasting that will drive the business on the right path.
2. Ensure agility to respond, adapt and survive
- It’s always at the top of a CFO’s agenda to optimize risk management and establish a sustainable cost-effective control environment. A sustainable compliance program (compliance-first approach) can free up to 30% of the function’s capacity while keeping the risks low.
- Structure finance to make the most of tight budgets and provide financial support for corporate initiatives by ensuring discretionary expense management and operational costing optimization.
- Increasing adoption of “Shared Services model” (service delivery models under centralized and decentralized structures) for enterprise operations allows businesses to expand to several domains, customers, products, geographies, and channels. For CFOs, this translates to more challenges w.r.t. strategic pricing, customer and product profitability modeling, and profitable growth target setting. CFOs also need to cater to multiple businesses and stakeholders while supporting all the current and evolving business models.
- Embedded localization requirements to best-balance the risk and efficiency and implement best practices supporting operations across segments, industries, and geographies.
- Flexible deployment models allowing the optimal combination of cloud and on-premise solutions.
3. Optimize costs, digitize finance, and other functions
- CFO and other finance professionals are expected to offer more value-add solutions that provide strategic direction for the enterprise. Automation of repetitive, rule-based finance functions enables CFOs and financial professionals to focus more strategically.
- CFOs need to gain improved visibility across all cost components that allow them to take quick actions such as cutting unwanted costs and justifying new costs in a tangible way.
- Integrate and unify all corporate processes allowing for a higher level of standardization. This can only be achieved with an intelligent enterprise technology like SAP S/4HANA.
Why is SAP S/4 HANA ideal for CFOs?
Traditional ERP systems store data in many different tables. As a result, financial teams struggle with isolated and inconsistent information from many sources. They end up spending hours sifting through data and compiling reports manually. Despite this, they are unable to provide the desired financial insights. On the other hand, SAP S/4 HANA stores all financial information in a single Universal Journal. It is a powerful concept that eliminates redundancy and creates a single source of truth. This gives you easy access to accurate, timely, and qualitative information. Your business processes become transparent and reliable.
The broad portfolio of new technologies and innovations in SAP S/4 HANA Finance empowers CFOs with responsive decision-making tools. These tools give you instant insights into all the company’s data and systems. You can perform end-to-end analyses right from the boardroom to the shop floor.
(Click to enlarge the image) Source: SAP
Organizations using ERP systems have always found that while it’s easy to enter data into the system, getting interesting information from it is tedious. SAP S/4 HANA Finance enables direct reporting without the need for a data warehouse for specific analytic requirements. This is possible because of the Universal Journal. However, this alone does not deliver the right insights. This is where Embedded Analytics in S/4 HANA comes in.
Embedded Analytics allows not only the intuitive navigation through graphical views but also the close integration of analysis capabilities within the operational transactions. This makes it easy to act directly on the right information without having to switch between screens or systems. It has business planning, consolidation, and forecasting capabilities which can help you gain new insights from different perspectives.
The embedded analytics in S/4 HANA is also helpful to determine the best course of action when unprecedented disruptions occur. Thus, the role of the Office of Finance transforms from mere historical reporting to analyzing business performance.
Organizations need accurate financial insights to steer their business in the best path. In the past, decision-makers requested information through month-end reporting. That practice is long gone. Today, continuous delivery of relevant information is the minimum requirement. More insights are requested on what the future would bring. This is where Predictive Accounting can help.
For example, when a sales order is confirmed in the system, it is not recorded in accounting until you deliver the goods and send an invoice. With Predictive functionality based on the sales order, a predictive invoice is registered. When the actual invoice is sent out, the predictive posting is back-posted, reducing the predicted amounts. This predictive accounting logic can help you simulate financial postings based on the confirmed incoming sales orders. You end up getting an accurate and futuristic view on your margin.
Transforming Finance into an Intelligent Portfolio
The S/4 HANA digital core offers predictive analytics combined with machine learning across various lines of businesses (LoBs). SAP Cash Application is the first Lighthouse application that is based on SAP Leonardo Machine Learning. It analyzes the customer’s historical data, learns which matching criteria are important, how to prioritize them, and how to best apply them using machine learning. This helps to intelligently match payments to open receivables and automatically clear those items minimizing manual effort. Thus, we process cash faster, improving the days of sales outstanding.
In other words, finance teams can scale as the business grows and save time to focus on strategic business tasks like growth and planning. The machine learning application is cloud-based and non-disruptive to the system-of-record. As it is tightly integrated with SAP S/4HANA, you can easily adapt innovations without having to resort to costly and time-consuming IT projects or any risky activities in your back-end system.
(Click to enlarge the image) Source: SAP
Take Your Next Step with Fingent
SAP S/4 HANA supports CFOs by using business processes that are already available within the S/4 HANA environment. As CFOs grapple with new disruptive business models, SAP S/4 HANA Finance can help them in their decision-making process at a tactical and strategic level. Leveraging these technologies can enhance the organization’s ability to pivot quickly and adapt to dynamic business scenarios.
Making this big leap is definitely challenging, but Fingent’s extensive knowledge and expertise on SAP S/4 HANA Finance can get you going. Connect with our SAP expert to learn more.
What are preconfigured solutions?
SAP Preconfigured solutions are implementations featuring standard functionality or common patterns. Since they include common enterprise features such as supply chain, finance, and inventory management, preconfigured solutions can be deployed rapidly. In simple terms, SAP preconfigured solutions are simple, ready-to-consume solutions that adapt to your business needs.
SAP Rapid Deployment Solutions allows the development of preconfigured solutions for specific functional areas, complete with pre-built reports, preconfigured content, and predefined best practices. Such suites enable enterprises to deploy software easily, with accelerated implementation times, and predictability in cost and scope.
Each preconfigured solution is a complete, end-to-end implementation. Enterprises may adopt it as such, or use it as a base for developing a full-blown customized solution. Open source solutions allow enterprises to download the source code and customize the solution.
Traditional preconfigured solutions came on-premise. The SAP HANA Enterprise Cloud heralds the cloud version of preconfigured solutions.
Related Reading: What is Business Process Expertise in SAP and Why You Need it
How preconfigured solutions enhance industry operations?
Preconfigured solutions spare enterprises from “rediscovering the wheel.” When solutions exist for standard requirements, it avoids the wastage in development efforts. Preconfigured solutions save time, trial-and-error, and labor. The in-built accelerators allow rapid implementation and configuration. The shortened time to market delivers a competitive advantage to firms.
A preconfigured solution offers a working model with glitches removed. These solutions connect key functional areas, to streamline operations and improve communication flow across departments. It automates routine and repetitive functions and offers well-structured content that improves visibility into key fields.
SAP offers built-in support for industry best practices. Solutions developed using SAP combines the latest technology, industry best practices, and processes in a single package.
Developers using SAP to build preconfigured solutions can adopt a modular and scalable approach. They mix modules to create targeted solutions such as CRM, field management suite, ERP and more. Clients may choose the most relevant reporting tools for their reports using SAP Business Intelligence Adoption rapid-deployment solution. SAP Predictive Analytics Content Adoption rapid-deployment solution helps to implement a predefined predictive analysis use case.
Transforming various industry verticals
Preconfigured solutions deliver efficiency improvements in several industries and verticals. Five of them are mentioned below:
1. Real Estate
Unstandardized information, inefficient processes, and weak communications often affect the real estate industry. Preconfigured solutions enable enterprises to streamline data and workflows.
Developing preconfigured solutions for key functional areas of the real estate industry allows business owners to access information in real-time, prevent opportunities from slipping through the cracks, and remain in control of the business. Here are a few key functional areas where pre-configured solutions can come to the rescue of real estate enterprises:
- Document management with powerful search and sort functionality.
- Process automation functions to streamline operations.
- Contact maintenance to keep track of customers and upcoming tasks.
- Reporting and analytics to generate and share data and other critical information.
2. Supply Chain and Logistics
Preconfigured solutions make the complex supply chain relationships simple and easy to handle. SAP’s Model Company for supply chain planning offers a ready-to-run, comprehensive solution, complete with relevant business content, accelerators, and enablement services.
The suite co-opts:
- Demand planning to manage demand streams and increase productivity.
- Response and supply planning.
- Supply and allocation planning.
- Deployment planning.
- Sales and Operations planning.
The inbound and outbound integrations with SAP S/4HANA ensures seamless integration with other functional areas, such as sales. Businesses gain improved visibility to the upstream and downstream business value chains and can visualize the entire supply chain network. The preconfigured solution aligns demand and supply plans with financial targets and key performance indicators.
Related Reading: Seamlessly migrate to S/4HANA with these tools and methodologies
The healthcare industry is under pressure to innovate while keeping up with regulations. Preconfigured solutions automate regulatory concerns and compliance. Ready-to-run process models and scenarios enforce standardization with tight quality controls. It improves efficiency in research and development. Accelerators support rapid design and implementation.
The most popular modules of SAP’s preconfigured solutions in healthcare are meant for:
- Research and development
- Quality and traceability
- Logistics and transport
- Purchases and provisioning
- Marketing and commercial
4. Sales and Marketing
SAP preconfigured solutions infuse efficiency to customer-facing functions and increase customer satisfaction. Its most popular implementations in the sales and marketing domain include:
- Predicting customer demand based on real-time data.
- Tracking sales history.
- Automating sales operations. The solution tracks all processes, from ordering of raw materials till the delivery, and takes care of auditing, notifications, and reporting.
5. Financial Services
The SAP Model Company solution for Financial Services offers a ready-to-run, comprehensive solution to support the core financial processes, including:
- General accounting
- Cash and treasury functions
- Planning and forecasting
These preconfigured solutions come with relevant business content for a specific use-case, accelerator, and enablement service. These solutions enable gap analysis, address resource bottlenecks, and support lean implementations.
Today’s enterprises seek efficiency improvements and cost savings without compromising quality. Fingent uses SAP to build pre-configured solutions that enable enterprises to realize such goals. Implementing these custom-built pre-configured solutions helps you transform your processes across various business areas and improve your customer relationships.
Contact us to get a free consultation with our SAP Experts.