The SAP S/4HANA also referred to as the SAP Business Suite 4 is usually defined as the accelerated business suite helping the business to simplify the financial transactions and analyze data in real-time undertaking the next generation technology. Ever since SAP released the S/4HANA in February 2015, it has been personalizing User-Experience in collaboration with the Big Data and the Internet of Things. However, it would be interesting to see, how the Accelerated SAP S/4HANA will transcend your retail business to a higher level. So, if you want to find the answer, just stay tuned with us.
SAP Releases S/4HANA Retail
First, let me begin with good news for all the retail business entrepreneurs out there in the center. It is my pleasure to announce that SAP has unveiled the S/4HANA Retail to manage the merchandise and bring an innovative transformation in the retail sector. Furthermore, the S/4HANA Retail empowers the retailers to cater strategically to the requirements of the fast-moving digital economy and improve the customer retailing experience right from the word go.
One of the other major factors asking the retailers to adopt the SAP S/4HANA is the increasing number of worldwide customers. According to Statista, the estimated number of S/4HANA subscribers in the second quarter of 2018 was around 8,900. It’s surprising to note the amazing growth as the figure was merely 370 in the first quarter of 2015 when this solution was introduced.
SAP S/4HANA- A Game Changer for Retail Industry
The S/4HANA is within the SAP’s custody and based on the in-memory computing system and operational database platform. In fact, S/4HANA Retail has been specifically developed for the retail sector to offer an array of benefits.
Role of S/4HANA in Inventory Management
- It allows you to access data analytics in real-time and take quick and apt decisions.
- Precise assessment of the stock inventory and quality control check without employing the traditional manual methods and getting all reports instants to monitor the progress of sales.
- Maintaining transparency when processing the customer orders right from order placement to delivery.
- The real-time data analytics will help you to gather information on customer-buying trends and the hotbed demand of the market.
- The advanced software is exceedingly helpful in curtailing the cost of inventory management as all updated information and data is available in real-time.
- SAP S/4HANA is more than an asset for the retailers involved in supplying products as it helps to reduce the bottlenecks related to the supply chain. You can track down your order and intervene if it is getting delayed.
Let’s Take this Discussion Further
Since we are focusing on the inventory management system, it would be appropriate to throw some more light with a few good examples.
Let’s say suppose you are a retailer dealing in electronic appliances. You must be aware that there are some products, which have high demand in a particular season such as air conditioners during summer. You need to ensure firmly that the appliances are readily available in the stores. Now, this is where the S/4HANA solution would come into play; it would optimize your management and order across the complete lifecycle of the product. Therefore, you avoid any chances of getting into a markdown situation.
SAP S/4HANA Connecting Retailers to Digital Transformation
The digital transformation is the buzzword today and certainly a trump-card for the retail industry. However, if you want to reap the advantage, then drive your business towards the SAP S/4HANA region. I don’t need to tell you that you have to embrace the Internet of Things to offer an unmatched personalized user experience and upscaling the business prospects across all channels. You are already aware of its boosting benefits.
The S/4HANA offers a robust integration where reporting to the management gets faster and combines deeper insights. With digital transformation coming into the frame, the customers have access to master data streamlining the payment for end-to-end order.
Escalating the Overall Performance and Efficiency
S/4HANA is efficiently faster to deliver escalating performance where the team can carry out multiple tasks without completing the other. You can run the task as many times you want to get a better output. One of the other factors that lead to optimal performance is all business activities are put on a fast-track scale such as planning strategies, systematic execution, preparing charts and reports, and getting access to live data. All these aspects drive you into a customer-centric zone where the margin of error minimizes.
SAP Fiori Offers User-Friendly Interface
Another icing on the cake in SAP S/4HANA is the presence of SAP Fiori, which is known for offering user-friendly interface. User interface plays a distinctive role in the retail business to offer a seamless experience while customers are navigating the website or mobile application on their devices. SAP Fiori makes a more productive environment in favor of retailers. For example, Fiori provides a single-screen window where the customers can make payments with ease with just a few clicks or taps on the application.
Simplifying the Business Operations
There is no doubt that S/4HANA has simplified the business operations to a great extent. It has focusing more on the FI- and CO-related dealings instead of wasting time on settlement issues. This helps to boost the data-based reliability and simplifying the management and administration.
Drives Retail Business Towards Cloud Adoption
SAP S/4HANA has always been encouraging the retail business owners to undertake an innovative approach and adopt the cloud using cloud-based modeling. One of the key bonuses of moving towards the cloud is that it offers various products using which you can further properly maximize S/4HANA ’s potential to gain the maximum result-oriented outcomes.
Potential Retailers for SAP S/4HANA
- The ones who have modified their ERP applications but find it difficult to manage and update the applications. They need the slate clean approach and have to start from the beginning.
- The businesses that are operating competitor databases but are willing to migrate to SAP S/4HANA. They can help clients in preparing potential custom-code conversations.
- The retailers who are willing to adopt the cloud such as the SAP SuccessFactors, SAP Hybris or SAP Ariba etc. They are looking to implement futuristic technologies such as IoT to streamline their business.
- The retailers who did not have the ERP module better known as the greenfield customers.
Get the Edge in Competition- Go for SAP S/4HANA