Even before the advent of the COVID-19 pandemic, businesses kept on facing unforeseen challenges now and then. However, this pandemic age has increased their difficulties significantly and companies have to take all the steps from cost-cutting to automation of processes to address these challenges.
When it comes to surviving from this pandemic time, some companies feel that the consequences will remain for the short term. However, a survey has revealed that two-thirds of micro-companies are severely affected due to the COVID-19 outbreak, as compared to 42% of the large companies. It is, therefore, necessary for SMEs and startups to reassessing their assumptions and strengthening their capability to survive through such periods.
As the world gradually comes out of the grip of COVID-19, businesses have to focus on their core processes and adopting a new environment by implementing new strategies in critical areas like finances, supply chain management, branding, regulatory requirements, and crisis management. Here, ERP solutions lend a helping hand by playing an active role in workforce management and crisis management.
SAP Analytics Cloud, is an advanced solution that can change the way businesses plan their strategies to survive and thrive during this pandemic period. As a robust and agile analytics platform, SAP Analytics Cloud enables companies to make improved decisions in real-time. It also offers real-time insights to facilitate the management to optimize resources across various departments and processes.
Before going through how this cloud ERP solution benefits modern businesses, let’s have a quick introduction of SAP Analytics Cloud.
SAP Analytics Cloud (SAC)
It is one of the best SaaS solutions based on the cloud that offers all necessary functions including planning, prediction, business intelligence, and the like on a single UI (User Interface). As a powerful SAP product, it is designed to save time and effort while making insightful decisions.
SAC comes in two variants- Private and Public. The Private mode hosts only one user while the Public mode has multi-tenancy. The public edition is more cost-effective than the private one.
Let’s dig deep into the top challenges that can be addressed effectively using SAP Analytics Cloud.
1. One-stop Solution– Yes, SAP Analytics Cloud has everything ranging from planning to prediction, and business intelligence to augmented analytics in a simple cloud-based environment. When you integrate it into your business system with the help of a trustworthy ERP solution provider, you can readily manage expenses, revenues, and other financials at a single source.
2. Proper Alignment– Whether it is operational planning or financial planning, accuracy is always necessary. Also, you need to combine multiple teams and stakeholders while making policy-related decisions. SAP Analytics Cloud, with its several enterprise planning tools, enables you to align your company’s expenses and cost strategies across various teams like HR, Sales, IT, and marketing. You can get rid of sending out unnecessary emails with irrelevant plans and maintain productivity through real-time collaboration.
Also Read- How SAP HANA Cloud Platform Leverages Benefits of Cloud Computing
3. Improved Planning– SAP Analytics Cloud brings ML (Machine Learning) and Predictive analytics-based features to help you build accurate plans related to expenses and costs in a quick time. Predictive features of SAC can automate the baseline expense planning by analyzing the previous data. Accuracy indicators also provide some sort of insights for financial planning. It is easy to monitor the plan in real-time using the SAP Analytics Cloud. A reliable ERP consultant can give you more insights into this futuristic benefit.
4. Useful Insights– SAP Analytics Cloud is a robust ERP solution that has machine learning and augmented analytics functionality that can convert actionable insights into business value. Augmented Analytics plays a vital role in exploring data, discovering production cycles and trends, and identifying all possible ways to implement cost plans effectively. Managers can make an actionable plan based on these insights and monitor the team’s performance in real-time. SAC also enables you to simulate outcomes for various ranges of budget.
5. Real-time Decisions– SAP Analytics Cloud enables you to convert insight into action in no time. As this cloud ERP solution is based on automated technology, it enables you to make decisions that are free from any agenda or biases.
SAC has a natural language query feature that generates visualizations to answer all the questions instantly. YOu can also remain updated with the important trends through machine learning technology. What’s more, SAP Analytics Cloud can save your time and effort, so that you can concentrate on high-value, core activities.
Apart from these benefits, SAP Analytics Cloud offers a data modeling feature. You can have an end-to-end industry dashboard to get real-time reports and actionable insights. You can consult an ERP software developer to know more about the benefits of SAP Analytics Cloud.
Concluding Lines
Modern businesses need to predict changes and trends in advance to remain competitive. SAP Analytics Cloud can help companies to survive through the pandemic age and enable them for minimizing the impact of any crisis on business. It is fair to mention that challenging situations keep on coming, but you can make your enterprise ready to face them with SAP products.
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