Since early 2020, businesses worldwide have had to adapt and address new challenges in order to thrive in the new business climate. As we continue to evolve our best practices, it has become clear that for your company to maintain its competitive advantages, you need to increase the importance of strategic innovation across all departments. Strategic innovation can only be possible with comprehensive and real-time view of ALL your business data. SAP Analytics Cloud (SAC) is an ideal solution that brings benefits to companies across industries. Here are four ways SAC saves businesses money, right now:
#1: Pinpoint Areas to Cut Costs and Take Action
In an ever-evolving business climate, it is essential that you find specific areas where you are either overspending or not receiving an acceptable ROI. When making these assessments, you must (1) have all the possible information at your fingertips, and (2) you are using a tool to effectively decipher your data. SAP Analytics Cloud is that tool. With it, you have access to real-time data, can synchronize data from your entire infrastructure, and present it in easy to digest dashboards. When your team implements SAC, the areas of overspending become quickly obvious.
Knowing that few decisions have greater impact to a company than where it chooses to cut costs, having a tool like SAP Analytics Cloud allows you to make the most informed decision possible.
#2: Lower Your TCO
Maintenance, repair and constant upgrading of on-site infrastructure can be a legitimate cost burden for businesses serious about cutting costs. By implementing cloud solutions, you are immediately lowering your total cost of ownership (TCO) and eliminating costs (and time) required by your IT team. In addition to the cost benefits, SAP Analytics Cloud provides even more savings because it is a single platform for both Planning and Business Intelligence. Meaning, you don't have to buy, implement, and manage multiple analytics tools. Therefore, SAP Analytics Cloud lowers your spend while enabling your business analysts, decision-makers, and stakeholders to collaborate and plan using a single system.
#3: Identify Profitable Products/Customers
Attracting new customers and promoting new services certainly remain a high priority for your business. While remote work and virtual companies are on the rise, you also want to be aware of which customers and products are currently driving profit to your business. With SAP Analytics Cloud, you can integrate live data between your Sales, Production, and Accounting departments to identify which customers are bringing you the most revenue. This data can then be used to instantly pinpoint sales opportunities and drive more revenue to your company.
#4: Explore Better Business Strategies
There’s never been a better time to review your business processes, sales pipeline, and revenue driving activities to see what’s working and what is not. This process requires time that you likely don't currently have and collaboration functionality that you might not currently possess. SAP Analytics Cloud solves these problems by providing real-time reporting and online aggregation of data. Instead of spending your time sifting through information, you can get right to exploring scenarios with SAC’s Predictive Forecasting. Predictive Forecasting allows you to leverage historical data to predict future outcomes and identify new strategies to make your business more profitable.
Whichever route you choose to cut costs and drive drive value to your business, it's critical that you all the information to consider.
To further discuss all your business analytics options, meet with our Analytics Team below.