Enterprise software like SAP S/4HANA and SAP Business ByDesign help streamline all business processes and turn real-time data into actions.
Due to advancements in cloud technology, small and midsize businesses today can deploy ‘Intelligent Enterprise’ software to fulfill different needs, analyze their performance, and cut costs.
This means that entrepreneurs and managers can focus on the core issues of the company while the ERP solution ensures seamless connectivity, eliminates repetitive tasks by automation, recommends solutions to problems through machine learning and uncovers insights into the business through advanced analytics. However, before you take the leap, here is a checklist of all the things that you must consider.
Why is cloud-based ERP better?
As workforces get leaner and business cycles get shorter, top executives can no longer afford to postpone important business decisions till they can fully interpret the data. Cloud enterprise software is designed to continuously learn and adapt to new data as it comes in, without a user having to be involved.
1) Cuts the cost of expanding IT infrastructure
Growing companies often face limitations on computer technology, internet speeds and data processing, along with additional costs of coding, consulting, and training employees.
However, the cloud or the software-as-a-service (SaaS) delivery model for ERP allows companies to only pay for the services they require, and eliminates the need to purchase software and hardware or hire additional IT staff.
2) Integrates all business process onto one platform
Cloud-based ERP software like SAP S/4HANA and SAP Business ByDesign can integrate all business processes, turn real-time data into actions, and in effect, increase employee productivity and enable businesses to innovate and transform.
3) Helps in coping with big data
The sheer volume of data that companies generate, along with the fast-changing demands of the modern consumer, has made streamlining business processes and optimizing data increasingly critical. Thus, cloud-based ERP systems are no longer a luxury, but a necessary tool for businesses to stay competitive.
Cloud ERP and employee engagement
The right ERP software will not only streamline inventory management, accounting, customer management and warehouse management, but also share real-time insights which can boost the productivity of your employees and make them feel more empowered and confident.
ERP software can also help employees be more committed to company objectives.
When employees are engaged, they are more productive and willing to go the extra mile, resulting in increased customer satisfaction and profitability.
Steps to choosing the right ERP for your business
1) Check for data integrity
For digital businesses, data is an asset that requires continuous maintenance. Truly effective business intelligence software not only standardizes and merges data logically, but also retrieves it to present it to workers in formats that they are familiar with.
More often than not, mid-market companies do not have professionals who are skilled at collating and categorizing data. Thus, any data collection system must be intuitive, easy to use and easy to teach to new employees.
For mid-market companies, business requirements can change rapidly. So, for them to be more adaptive to the market, the enterprise software they buy needs to be flexible. More importantly, they need to be able to adjust the solution without much downtime in operations.
Functions like authorizations, data access permits, and mining for data patterns or additional reports and analytics must be possible. Also, the business intelligence software should be able to handle these tasks without the company having to call for external assistance or maintaining an expensive tech team.
3) Strong software partners
Businesses need to contend with a changing business landscape. Regulatory changes, such as the rollout of GST, can easily put stop to regular operations of an SME.
However, companies which were using intelligent enterprise like SAP Business One - a single integrated solution which is tailor-made for small businesses – enjoyed the backing of a well - established enterprise software maker which has enough manpower to alter their services to suit the new requirements.
Unlocking your full potential with S/4HANA
With intelligent ERP systems such as S/4HANA, you can deliver new levels of organizational agility, business insights, and customer services. Read on to know more.
1) S/4HANA can not only be deployed across the organization, but is also capable of a two-tier deployment for branches and subsidiaries.
2) Its intuitive interface and responsive design reduces training time and enables fast user actions and decisions.
3) It supports cloud combinations (hybrid approach) with on-premise systems and other cloud offerings, and provides the ability to scale up the cloud footprint as and when needed.
4) SAP’s subscription-based model means that there are no upfront costs or initial investments. This frees up funds for other business priorities.
5) SAP’s constant support ensures that your business will be fully compliant with tax regulations, and accounting and data rules.
Discover how advanced solutions from SAP can help your mid-sized business transform intelligently.
Request a personal demo of intelligent, cloud-based ERP software from SAP.