The circuitous trail of connecting data points within an enterprise to consume an insight to arrive at a decision is getting complex, by each minute. It is not simply a matter of computation, but also involves layers of hierarchies around the globe that need to evaluate it, perceive it to their benefit, and translate it into chunks of communication that aligns to the understanding of team members who bear different degree of aptitude. At the end of this long cycle, scaling up the inherent benefits of predictive analytics from an individual, to a team and up to an entire enterprise is expensive, time-consuming, and discouraging.
With time, expectations and the use of predictive analytics have evolved from mere internal consumption needs to personalized experiences that the customers anticipate. Customers enjoy personalized experiences. While they can be created, scaling them with speed falters over the bulky infrastructure legacies, legal menace, and cultural threads.
This means the enterprise needs a single ERP that is adaptive, evolving, agile, and intelligent for cognitive systems to function seamlessly. SAP has developed an enterprise-wide ERP solution with predictive analytics, AI, and machine learning capabilities — SAP S/4HANA. Across several deployments, we have summed up how it comes to your advantage in enabling enterprise-wide predictive analytics.
Traversing Across Business Functions
SAP S/4HANA has a deep impact on each function of your enterprise. It comes with a conversational UI interface of Co-Pilot, a digital assistant technology, intelligent automation, real-time analytics, global data synchronization (GDS), migration cockpit, mass data management, and a lot more to suit the industry-specific needs. With each business function, here are ways in which you can enable enterprise-wide predictive analytics.
It is always good to have an assistant to rely on to complete the repetitive work and such other work that could be delegated. Co-Pilot, as a part of SAP S/4 HANA provides a digital assistant with a conversational UI that can be accessed by the entire sales team. Processing sales quotes and orders are simplified by Co-Pilot, allowing the sales personnel to focus more on meeting the rights accounts.
Some of the other tasks that it performs include answering questions, searching for results of sales report in a given region for example, and scheduling meetings to talk about a specific item on your SAP dashboard. It has a self-learning system and a Business Context Awareness that understands the business situation and proactively suggests solutions.
A data hub is essential to stir the culture of predictive analytics. SAP S/4HANA provides finance data hub for real-time consolidation with an intercompany reconciliation report. While at the background, an ERP automates payments matches, payment collection processing and invoicing, you need someone at the foreground matching receipts and payments of procured goods. S/4HANA sorts this challenges by suggesting the best course of action after analyzing the historical data.
For Sourcing and Procurement
To enable effective sourcing and procurement, S/4 HANA uses predictive analytics to automatically propose creation of a new catalog, reducing free-text items. It also proposes material group for free-text items in purchase requisitions and provides options for materials without source of supply using machine learning. It also allows centralized purchase requisition, routing the requisitions via the central contract management hub.
For Project Management
Cost forecasting is one of the areas that gains intelligence with predictive analytics. Managers gain access to quick insights via the digital assistant that can also provide recommendations. The machine learning draws cues from global data synchronization (GDS) inbound processes integrated to the global data synchronization systems.
Enabling Enterprise-wide Predictive Analytics
The manufacturing and industrial companies have experienced a 40% reduction in waste and a 30% reduction in inventory levels with predictive analytics. The ITeS has also saved on infrastructure and hardware costs.
The capabilities of predictive analytics can expedite the operations on-ground, across the entire organization. To enable it, you need an intuitive technology program, non-linear infrastructure, and adaptive culture among your employees. S/4HANA, being at the center of predictive analytics, can also contribute to keep the infrastructure non-linear, and bring its intuitive capabilities to help people adapt fast, within and outside the organization.
Savantis, an SAP Gold Partner, works closely with organizations to understand their needs and optimizes implementation of intelligent ERPs such as SAP S/4HANA. We help your enterprise leverage predictive analytics to simplify roles, create new business opportunities, improve efficiencies, and boost revenues.
If you have any more questions, please feel free to reach out to us.