SAP TechEd Lecture of the Week: Delivering Business Value Through Technology and Innovation
Businesses face many challenges operating in today’s hyper-connected world. The constant streams of information can impact revenue, supply chain, partnerships and ultimately an organization’s brand. Consumer expectations are increasing with the explosion of information available anytime and anywhere. Businesses are being pushed into an information-ready environment. To stay ahead of the competition businesses must leverage the right technology to support business processes for today and tomorrow.
Data is the Foundation of Everything
When you think of corporate assets what comes to mind? Equipment, employees, intellectual property? These are all valuable assets, but there is one asset that continues to be overlooked, yet that can be THE KEY to transforming your business: it is DATA . Data is your company’s greatest asset and the foundation of every digital enterprise. It empowers people, enables them to take initiative, and more importantly to innovate. If data is inaccessible, unavailable, or in an archaic system not being used, it’s preventing your teams from taking initiative and understanding your business fully in order to make confident decisions.
Enabling Data-Driven Decisions throughout the Enterprise
According to a study from MIT’s Center for Digital Business, organizations motivated by data-driven decision-making had 4% higher productivity rates and 6% higher profits, and this is not just a corporate finance driven initiative. In these organizations data flows through the entire organization and is considered a valued asset in every department – from finance to supply chain, on the manufacturing floor, and finally from the consumer buying experience.
Through an open technology platform, data can be accessed by every department, employees can feel empowered, and decisions can be made in real-time to propel the business forward. Keep in mind this extends even outside the walls of the organization. Data is leveraged by external partners, suppliers and customers, too. Most importantly, data-driven decisions empower innovation and support the digital business transformation companies need to stay competitive.
Transforming Business into Digital Enterprises
SAP has taken a systematic approach to transforming enterprises in this rapidly changing world. We understand that every business must be built upon a strong foundation of core applications such as ERP, HR, and CRM. At SAP our approach starts with a core built for the digital business: S/4HANA, surrounded by best of breed applications – SuccessFactors, Ariba, Hybris, Concur – wrapped with a beautiful user experience through Fiori. The next step to transforming into a digital enterprise is to derive the maximum value possible from your data. We refer to this as the Business Value Cycle, powered end to end by SAP Analytics.
The Business Value Cycle
Modern, value creating analytics deliver more than information about past events. The most successful organizations have structured ways for capturing, managing and transforming their data into information, turning it into valuable drivers of their strategic and tactical decisions. Through modern technology they weave information into their business processes to plan, predict, optimize, simulate and steer their business success at all levels of the organization. Unlocking data and transforming it into valuable information for the entire organization makes businesses nimble and confident in making decisions and allows them to focus on what really matters.
By adopting the Business Value Cycle companies can gain the most insight into their business whether it is to launch new products, channels or enter new markets.
With the launch of Cloud for Analytics and Digital Boardroom, SAP now offers its customers a bridge to the future – a seamless transition to running analytics in the cloud. At the same time businesses have complete freedom to design their roadmap for that journey at their own pace and time as SAP continues to innovate its stable on-premise core products.
Reimagine Your Business
The rewards are significant for those organizations that transform into a digital enterprise. You’ll be able to drive efficiencies, capture new revenue streams and capitalize on new market opportunities. From the boardroom to the shop floor, all levels of the workforce will be able to create value and deliver insight from your corporate data and empower business success. For more on how to deliver business value through technology and innovation, view the SAP TechEd strategy session:
SVP and General Manager, SAP Analytics & Insight
Senior Vice President, SAP Analytics & Insight Development