Top Merits of SAP Implementation

There is a host of merits available to a business for having an integrated system like sap implementation in place. As far as the commercial merits are concerned, it ensures providing only one source for all your financial information. SAP implementation enables an organization to capture all its financial transactions in a single location so that the end users and management can review the various vendor, customer and inventory activities in one location. There are technical benefits too. When a single platform provides all the solutions, it means to support and maintenance become easier leading to reduced costs. When there is a consolidated system in place, IT department in your organization needs to support fewer interfaces.

When there is only one system of record source, the human resources in your company gets easily accustomed to the various terminologies associated with the system and the business processes become standard ones. As a result, there is an improvement in communication and the workforce that gets created is simpler to migrate from one role to another. Even if limitations to such a system do pop up, it will be directly proportional to the restrictions you impose in your environment. There may be a requirement of fitting new and improved business solutions within your current system, compatibility of the technology and the willingness of the human resources for data handling in specific stand pared processes.

Check out the following top merits of SAP implementation which organizations have reported time and again.

Increased efficiency

It eliminates processes that are repetitive in nature and also leads to a drastic reduction in the requirement of manually entering the information.

Integrated and centralized information

Having SAP implemented within your organization ensures that there is no need for data distribution in various databases. Instead, all information can now be stored in only one centralized location. As a result, maintenance of data becomes easier. Data can be always up-to-date and consistent.

Easy and customized reporting

SAP implementation also helps in generating customized reports. Moreover, reporting becomes much easier. The reporting capabilities get improved and your organization can easily respond to complicated data requests. Users also benefit since they do not need to take help from the IT and generate their own, customized reports.

Improved customer service

Successful SAP implementation also makes it simpler to offer superior customer service, For instance, employees in the customer service and sales departments can interact with their customers in an improved manner so that better customer relationships can be accomplished. This is possible due to more accurate and faster access to the information and history of the customers.

Increased security

A new SAP system will enhance the security, consistency, and accuracy of business data. You can also increase restrictions on business data to make it more secure.

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SAP accounting and medium sized business

Small and medium sized businesses are often referred by the acronym SMB. Another acronym used to refer to the small and medium sized businesses is SME, used for small and medium sized enterprises. If one has to define a small or medium sized business, one has to take into account the number of employees in the organization. If the number of employees in an organization is below a certain number, then that organization would be considered a small or medium sized business. If seen globally, the number of small and medium sized businesses is far more than the number of large organizations. These small and medium sized companies are a breeding ground for new and innovative ideas. As they are present in larger numbers, the spirit of competition among them is far more than among large enterprises.

Apart from the headcount of the workforce in these enterprises, other defining factors would be the revenue generated by them and the asset owned by them. The factors or parameters defining a small and medium sized company is different in different countries.

SMBs are crucial for those countries whose economies are still emerging and developing. They form the base of employment in these countries, however, their major drawback is that they often lack the capital that is needed to sustain them during a lean period. They primarily depend on personal funds and loans from family and friends.

SAP accounting:

SMEs cannot afford to keep many employees. They need software and applications that can help them automate certain processes. This is when the heads of the business sit together to discuss which software they should buy to decrease their expenses. This is when they opt for enterprise resource planning (ERP) software. SAP has been well known for making ERP software. The SMEs often opt for SAP accounting software to better their accounting process.

SAP accounting software manages every aspect of the accounting department:

* Data regarding all the transactions are recorded on a real time basis.

* This data is then segregated in useful categories that can be analyzed.

* Proper analysis of the data is done to draw pertinent conclusions.

These are the basic functionalities of the accounting software that they perform in a real time basis and usually in a single platform. These accounting software is very helpful for small and medium sized enterprises.

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2017: Top ERP Trends

The New Year brings in various new, industry-wide changes. ERP solutions are no exception. 2017 will see many changes in erp software and their implementation. Here are a few of them:

ERP joins cloud

ERP solutions have seen changes since the time they were first introduced in the year 1990. In the mid-90s, ERP solutions started becoming more comprehensive than before. The changes seen thereafter were minimalistic. However, with the current trend of cloud computing, the ERP requirements and dynamics are changing again. For every additional requirement, companies are opting for point solutions which are cloud-based instead of making changes in their core ERP systems. In order to serve these changing dynamic, ERP vendors are offering specialized cloud products which can be integrated with their already installed ERP software. Some vendors are even building cloud-based ERP solutions.

Cloud trend might face problems

When new trends emerge, there are repercussions. The inclusion of cloud in ERP solutions can throw in challenges such as version control issues and problems of inconsistent data. Companies should take into consideration such problems that might lead to enterprise-wide confusion in case the problem blows out of proportion.

ERP should be intelligent

ERP solutions are no longer just considered software to handle information. Users are now looking at solutions that offer more guidance that the systems in the past. Newer ERP solutions are aimed to be made more efficient to manage data using machine learning and predictive analytics. Digital transformation is playing a major role in reshaping software applications.

Competitive pricing

Given all these new ERP trends, customers can expect ERP solutions to be more competitively priced as vendors are on the defensive. They are trying to protect their core product, which is causing this downward shift in prices.

Increased ERP security

Given the increased number of threats in the cyber world and evolving technologies, the need for better ERP security is higher than ever. The connected ERP platforms make them more vulnerable to breaches and attacks. Not only ERP solution security has become more critical but complex as well, to manage.

ERP with a competitive edge

The trend of cloud-based ERP solutions brings to the smaller ERP customers the benefit of bigger information resources. It will also help customers make use of the data that is at their disposal. Sophisticated analytics was originally an asset of the bigger corporations. But in 2017, cloud-based analytic capabilities will help small and medium enterprises do the same and reap benefits of the huge data pool available.

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BI tools suitable to your business

Business intelligence, today is becoming more and more an integral, integrated and essential part of all businesses, be it small or big. The gap between hardware, software and data analytics is blurring as both need to work seamlessly to ensure businesses are intelligent enough to serve the purpose they are expected to.

There are many vendors who specialise separately in hardware, software and analytics but today more and more vendors are realizing that all three need to work in tandem and its easier for businesses also to make a decision on purchase of product and using the required services for all 3 are provided by one vendor under the same umbrella.

Few key benefits of integrated BI Tools:

  • They provide real time data / information about customers, products, competition etc.
  • They are user friendly and come with 24 X 7 service support which is extremely valuable in retail POS environment.
  • They help to streamline business operations and optimize processes to build efficiencies.
  • They help improve response time and add to bottomlines by cutting on undue expenses.

Types of BI and related areas:

  • BI Hardwares: These constitute the necessary data warehouses, servers etc to support both the Softwares and Tools mentioned below.
  • BI Softwares: These range across business functions like HR, Finance, Operations, Marketing, Sales etc and are present at each stage of Product life cycle starting from raw material purchase to factory to consumer purchase and re-purchase etc.
  • BI Tools: Some popular examples are Domo, Tableau, Micro Strategy, Qlik etc which help in visualizing and analysing the generated data in an easy and intuitive manner so businesses can make quick decisions in cases of identified opportunities or threats.

 

SAP, IBM, Microsoft and Oracle have already started providing all the above services under one roof to make it easier for businesses to decide on their purchases and also ensure seamless working of necessary products and services.

Before implementing any solutions, to ensure they understand the requirements and issues in advance as much as possible, vendors generally go through the entire business process in detail across steps like: Requirement gathering from key personnel across functions using interviews or process questionnaires etc, they further move on to process mapping, proposition of the appropriate solution for the business along with timelines, project plan and finally the implementation.

Areas that need BI support and hence the associated popular solutions are: Warehouse Management Services (WMS), Inventory Management (IM), retail POS, Customer Relation Management (CRM), Mobile orders, Payment kiosks, Vehicle tracking, Vending machines etc. These are used across businesses from FMCG, IT, Retail, Automobiles, Pharmaceuticals etc and the scale of solutions are also dependent on the industry or stage of business maturity.

 

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