Today’s digital economy has been imposing extreme pressure on the professional services industry. Many firms are finding it hard to sustain amidst competitive threats. New market entrants have transformed the way businesses deliver their services. This has forced the industry professionals to come up with better approaches or stagnate in the long run, with a permanent scar on margins and revenue growth.
Basically, Digitization works on four fundamental principles- talent, expertise, customer engagement and service delivery. Every business has to rethink how to structure their business models and drive growth. We cannot deny that digitization has led to great level of transparency and uncovered service offerings. This has reduced the barriers put forth by new competitors and improve the way they have been communicating with their customers in the long run. This also provides their businesses with an opportunity to level up their businesses in unimaginable ways. The best option would be SAP S/4HANA cloud – professional services implementation.
Digitization allows professional services firms to be at their best compared to previous times. If they want to succeed, every firm has to come up with a digital vision with both competitive strategies. They shouldn’t forget to address new business models, offer knowledge as a service and flexibly source out the resources via external talent networks.
To make this happen, every firm has to reengineer all their business processes while evaluating if they have the best technology platform to deliver their vision. This platform is in need of an IT architecture providing long-term reliability and stability to manage core enterprise processes. This also promotes flexibility in change-oriented areas.
The digital core is the basic feature where you can run with flexibility and consistency. This offers real-time, uninterrupted analytics and transactions where you can converge Big Data as well as line-of-business connectivity extensions to support processes such as networks and talent sourcing.
With all these points in mind, SAP S/4HANA® Cloud has entered the market with a motto of representing the digital core available in the “bimodal IT architecture.” This also offers professional services firms with a robust framework to go along with industry best practices. You can also attain operational excellence across various core engagement and financial management processes.
These are all the new intelligent capabiltiies you can witness in SAP S/4HANA Cloud:
Follow all your revenues
SAP S/4HANA Cloud has strongly improved the process efficiency of bank statements. Even when you aren’t able to process your bank statement properly, you can utilise reprocessing rule functionality to define better rules on how to reprocess your failed statements. This also reduces the manual labor. With Finance innovation, you can make the best out of Revenue Planning integrated into SAP S/4HANA Cloud for getting a thorough plan on quantities, pricing, revenues, percentage deviations, profit and loss.
Procurement Process Management
Multiple functionalities are available within the procurement and purchase element of SAP S/4HANA Cloud. Machine Learning powered Intelligent Approval Workflow can help customers with a better influence on processes. The process has been robotised in the way that SAP S/4HANA Cloud can learn which processes involve less dependence on requisition approvals on the basis of supply source, pricing history and material group. Through this, the approver can focus on what is needed.
They have also introduced Situation Handling to manage RFQ submission deadlines. This way, you would know when there is a deadline approaching.
SAP Field Service Management
As for the release of SAP S/4HANA Cloud, you can collate service products, parts and expense items as composite services. This would help you bill a particular customer while analysing revenues, costs and profits for more bundled items.
You can further integrate from SAP Field Service Management via API. There is also a new contract type for usage-oriented billing. This paves way for easier billing and revenue recognition.
Better Insights on Quotations
With SAP Analytics Cloud integration, you can get better Sales functionalities. There is a new dashboard to help you analyse how successful the Sales process has been. This can also allow you to understand why the quotations has been rejected.
As for the release of SAP S/4HANA Cloud, we are here to welcome SAP Fiori 3. This user experience provides you with an opportunity to use the user-favorite “Quartz Light”. The user interface is also simplified with easy-to-use menu buttons.
Business Intelligence on the go
With embedded AI, you can get all the insights on notifications, analytics, tasks, recommendations for better situation handling. You can get the best out of Digital assistants with conversational UI integrated into the user experience.
It’s time for professional service industry to wake up and choose more proactive Cloud ERP solutions such as SAP S/4HANA Cloud. Contact us if you are in need of it.
SAP S/4HANA Cloud for Professional Services has helped businesses in the professional services industry to plan their digital transformation activities.
SAP has come up with RISE with SAP S/4HANA Cloud solutions to help out small businesses. This solution is apt for every business belonging to the professional services industry.
SAP S/4HANA cloud – professional services implementation can help businesses of every size scale up with features such as SAP Field Service Management integration, better quotation insights and SAP Fiori 3.0.
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