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Intelligent Spend Management: The Best-Kept Secrets of RISE with SAP

S/4HANA Cloud, RISE with SAP

Intelligent Spend Management: The Best-Kept Secrets of RISE with SAP

NIMBL | Mar 10, 2023

Outdated and manual procurement processes can only take an enterprise so far. Companies that rely on financial transactions in areas like logistics, payroll and inventory are prone to errors. 

RISE with SAP streamlines procurement by automating and integrating functions across all systems and channels. Through digitalization, C-suite leaders can unlock the faster and more efficient path to procurement: intelligent spending.

The result is more than just a streamlined approach: RISE with SAP facilitates a digital transformation that affects every department. This gives companies a unified view of their spending, along with real-time data which can be used to make faster and more informed decisions. Enterprises can then find ways to increase transaction accuracy and achieve positive business outcomes. 

Here are three components of RISE with SAP that can help enterprises digitize and standardize their procurement systems to cut down on time, money, and costly errors.

  • Unlock Your Firm’s Procurement Potential with SAP Signavio

With SAP Signavio, companies can analyze their existing procurement processes to find opportunities for optimization. 

After end users create and run a simulation of a new potential process, SAP Signavio’s insight functionality allows them to assess the viability and proficiency of the processes in real time. Users can also share recommendations with multiple stakeholders simultaneously to improve those processes and work together to optimize them.

SAP Signavio’s data analytics makes vendor management and regulatory compliance a cinch. By tracking and analyzing an enterprise’s various processes, leaders can easily find production bottlenecks and employees can remain efficient with their work. SAP Signavio also streamlines team member collaboration by enhancing communication technologies throughout the company. 

  • Intelligent Procurement Around the World with SAP Ariba

SAP Ariba connects a company’s spending categories in a singular location for convenient procurement management across all markets. 

Additionally, SAP Ariba immediately identifies and corrects invoice errors and missing data with automated invoice pre-validation. This increases the accuracy of invoices and speeds up both the processing and payments timelines.

Enterprises can also link internal and external networks with SAP Ariba, allowing end-to-end visibility into supplier networks and sourcing channels for SAP and non-SAP systems. This enables workers to connect to suppliers easier, whether they use an on-premise or cloud-based system.

  • Innovate Faster with SAP Business Technology Platform 

SAP Business Technology Platform (BTP) centralizes a firm’s data, AI, application development and automation for a more efficient innovation experience. Employees have access to prebuilt industry-related content with the ability to manage data throughout the enterprise in real time. 

SAP BTP operates in low-code and no-code environments that enable companies to build custom business applications with little-to-no coding experience or training. To avoid building apps from scratch, enterprise leaders can automate procurement processes by subscribing to intelligent technologies. 

One effective example of this is robotic process automation. “Robots” help companies assemble business processes by imitating human interactions with procurement systems. Another option is conversational artificial intelligence, where chatbots collaborate with business applications in ways that emulate human interaction.

NIMBL Unlocks the Highest Value from RISE with SAP for Enterprises

NIMBL empowers companies to innovate faster through digital transformation by streamlining, implementing and integrating procurement processes that deliver greater value. Enterprises who partner with NIMBL for process renovation gain distinctive and competitive advantages in procurement across many areas of business.

With NIMBL’s IT expertise, firms can reach new heights with this state-of-the-art approach to procurement. Leveraging intelligent spending through RISE with SAP lets automation take the reins for procurement tasks to free up time for businesses to achieve more. 

Read more about the benefits of RISE in our eBook.

Written by NIMBL