The Future of Data & Analytics with SAP
Organizations must encompass accurate data & analytics as it plays a leading role in positive finance transformation, functional finance digitization, and enterprise digitization for accelerated business operations.
Businesses are more inclined towards the cloud, especially for database management, since it delivers higher security and market relevancy. It is found that 75% of all databases will be hosted in the cloud within three years. So, it is more likely for businesses to seek cloud solutions to carry out valuable data & analytics operations.
SAP S/4 HANA Cloud for Data & Analytics
“67% of SAP Customers are planning to migrate to SAP S/4 HANA.”
SAP S/4 HANA is one source solution to all business ERP requirements. It facilitates proper finance management, transactions, and accurate reports to future-proof the entire business cycle. Incorporating intelligent and market-relevant solutions like Artificial Intelligence and Machine learning has helped with the deep analytics of the data involved and its enrichment.
For industries like banking, capital markets, and insurance, high-volume data involvement is imperative. However, the risks associated with such high-volume cases are significant if they depend on disruptive technologies or non-cloud-based database management.
S/4 HANA Cloud is an optimum choice for industries that rely entirely on the database system to meet customer expectations and deliver accurate services without compromising proper finance management.
Challenges faced by CFOs with business optimization
- No clarity or complete understanding about the ERP system to incorporate meaningful insights on relevant market trends and customers- their preferences, needs, behavior, and loyalty
- Management of business through time-consuming spreadsheets and less reliable BI system for data monitoring.
- Chaotic timelines and relevancies impact the business decision-making at large.
- Data is not being accessible to everyone in the organization for proper transparency in the business activities.
- Not being able to deliver “intelligence at the moment.”
- No real-time information on business and market operations for employees to work is a problem.
Data Management with SAP S/4 HANA
S/4 HANA delivers data security on the cloud that is automated for connectivity and application security of the database across the platform.
S/4 HANA allocates data privacy, quality, information catalog, and complete database lifecycle management with greater accuracy and accessibility.
All data can be structured and enriched to attain any format unique to the specific organization through data ingestion and critic models.
SAP S/4 HANA facilitates analytics orchestration systems aided by AI and ML that help deliver cognitive and non-cognitive data analytics with accurate reports and dashboard services.
Challenges with corresponding solutions and value deliverance
Challenge- Need for financial data gathering, reporting, and data analysis.
Solution- S/4 HANA delivers modernized BI tools that process combined transactions, reporting, and analysis.
Value deliverance- Unified single-access self-served reporting and embedded analytics system with real-time reporting and seamless integrations
Challenge- Leveraging data as a strategic asset
Solution– S/4 HANA aided Financial Services Data Platform to cater to global data and analytics needs along with SAP enabled financial planning, budgeting, closing, and disruptions management.
Value deliverance– Next-gen data platform for secured and timely effective data management with seamless access to trusted data through self-service capability.
Challenge– Reducing TCO and inconsistency in business data
Solution– S/4 HANA delivers flexible, reliable, and comprehensive reporting based on the combined and agreed data model and centralized logic, reducing the cost of ownership and improving profitability.
Value deliverance– End-to-end detailed data analysis and user experience with enhanced data quality and transparency across the database management system make it apt.