It seems like every minute, there’s a new piece of technology that promises to revolutionize the business world. From cloud sharing to Internet services, new tech that can make life easier for business leaders pops up every day.
It’s easy to get swept up in the lofty promises new technology gives us. The tough part, though, is sorting out the promising ones from the duds. Luckily, SAP’s reputation precedes it: a steady provider of reliable and innovative business solutions, it regularly makes life easier for people who use its services.
Here are ten SAP technologies that are already revolutionizing business as we know it, and will continue making our lives easier in the future.
SAP has made great strides in making its products easy to use – and the SAP Cloud Platform is a big reason why. With its comprehensive application development capabilities, businesses can personalize existing applications or use a prebuilt application to integrate and optimize procedures and reduce confusion. Instead of relying on on-premises infrastructure, the cloud technology will help companies well into the future. And many already are on board: 85% of enterprises have a multi-cloud strategy.
By 2020, business’ IT departments will have to manage 50 times the amount of information, 75 times the number of files, and 10 times the number of virtual and physical servers, with only 1.5 times the number of IT professionals to manage it all. SAP HANA works to prevent data overload by keeping everything on one platform, analyzing live data to support real-time business, and reducing data redundancy.
Poor quality data costs U.S. businesses $600 billion a year. With the increasing use of big data as a way to manage and predict business outcomes, it’s more important than ever that organizations have a strong grasp on data to stay competitive. SAP Vora helps ease businesses into the big data future by allowing them to analyze all information on a distributed computing framework, which makes it easy to get insights to plan out and meet business goals.
As many business leaders know, financial planning is no joke – an average of 70% of small business owners’ wealth is invested in their companies, which makes careful planning a must to keep their livelihoods secure. The SAP Analytics Cloud makes this easier by combining financial planning, business analytics, and collaboration tools in a single SaaS solution. This way, it’s easy to plan and forecast in real time, versus spending weeks or even months on figuring out financial strategies.
Digital ad spending for U.S. retail outlets is estimated to reach $19.98 billion by 2019, which means that in order to have a strong ROI, you need to make sure you’re managing your digital marketing effectively in coming years. The SAP Hybris Marketing Cloud helps guide organizations into the future of marketing by allowing them to build customer profiles, collect target audience information to make recommendations, and even deliver personalized experiences to potential customers in real-time – which increases conversion rates.
The future of business is collaboration: 49% of millennials support using tools for workplace collaboration, and with them soon comprising the majority of the workforce, it’s important to pay attention. SAP Jam Collaboration promotes collaborative learning among employees, makes it easy to set up mentoring relationships, and even provides a social networking platform so that employees can share information one-on-one or in groups.
Company growth depends on the modernization of processes like your supply chain, which makes the fact that about 40% of today’s businesses are not working to streamline their supply chain processes somewhat concerning. Powered by the previously-mentioned SAP HANA, SAP Integrated Business Planning helps businesses keep up with ever-changing market expectations into the future. This real-time supply chain planning product includes supply chain analytics, inventory optimization, capabilities for sales and operations, and more.
To effectively manage a 21st-century workforce, it’s growing more important than ever to have every employee feel engaged and ensure that HR processes are working smoothly. The problem is, 87% of organizations cite employee engagement as one of their top challenges.
The SuccessFactors Employee Central solution lets HR leaders see the entire workforce and give insights to executives, automates multiple business functions, and enables all employees with easy-to-use tools. This keeps your organization cohesive and communicative, keys to business success in coming decades.
As we bounce back from the Great Recession, hiring is growing more candidate-focused. In fact, 65% of recruiters claim talent shortage is the biggest challenge in hiring today. To manage this changing landscape, SAP SuccessFactors Recruiting uses line-of-sight analytics to provide guidance throughout the hiring process. Along with posting jobs to thousands of sources around the world, it helps improve your site’s ranking on major search engines to increase candidate flow.
As great as our technological innovations have been for business, some are harming it – especially ones that perpetuate fraud. The typical organization loses about 5% of revenue each year due to fraud, which means that future-focused companies need to be ready to protect themselves. Also powered by SAP HANA, SAP Fraud Management scans data quickly and accurately, helping investigators detect fraudulent activity nearly immediately.
As the business landscape changes, it’s imperative for organizations to keep up to stay afloat. SAP technologies are here to future-proof organizations who are in business for the long haul. In what ways are you using technology to navigate the challenges of today?