Today, the world is fast-paced and businesses are working around the clock. At any given time, customers are waiting in line and transactions are constantly occurring. More than ever, the success of all businesses hinges on tightening their margins. Efficiency is a top priority. Because of this, many organizations looking to stay relevant in the future know how important it is to account for their sales in real-time and use the information to improve their chances of being successful in a very competitive market.
Forward-thinking businesses appreciate an optimized back-office which can allow them to be agile and more responsive to their customers in the front office. The solution to this is enterprise resource planning solutions, or otherwise known as the acronym ERP. Though it has been around for many generations, there’ve been many significant innovations for modern ERP.
The co-founder of SAP had a vision of revolutionizing the power and speed of enterprise computing. He referred to this as HANA. As with any other solution in the market right now, it relies on a fully functioning in-memory architecture to help carry out various daily functions of modern organizations. When it comes to many leading multinational businesses around the world, there is no task too small to automate.
When it comes to certain processes, timing is everything. Complete ERP redesigns traditionally take around a decade to complete. In light of the various changes around the world in the business realm, timing matters significantly. On one side, global competition puts a lot of emphasis on efficiency and operations. Margins are tightening and companies need to find ways to optimize their workflow processes, especially in the area of customer experience. Real-time ERP can help accomplish both of these.
Another pressure being put on many organizations is the numerous changes and regulations across most industries. It is putting a lot of pressure on many businesses to become more visible with their issues, processes, privacy and their revenue recognition. ERP in real-time can help play a big role in helping many organizations stay compliant and work towards reinventing many of their critical business processes.
Overall, great customer service requires getting things right. It is important for organizations to know who is calling into your call centers, what type of customers they are, what their recent purchases have been and whether or not they have been on the company’s website recently. Companies that are able to track this type of data in real-time gives their representatives an easier time to win with their customer experience.
There are many reasons why this is important. Some of the reasons include satisfaction, customer retention, word of mouth, reputation management and more. Many customers do some amount of research before they even talk to customer service. This means that customer service representatives need to have relevant knowledge of their customers who are calling in to help keep their current customers from turning into past customers.
Unfortunately, it can be challenging to find out all of these data points about particular customers in real-time when they call in with a problem. When it comes to legacy ERP systems, it would be practically impossible to solve this. However, real-time ERP systems make this possible and can add to the possibilities even more. The real-time data pulls speed from sales automation tools, fulfillment systems, clickstream analysis technologies, customer relationship management systems and audio sentiment analysis.
Welcome The Technology
It is not easy to dismiss the many benefits real-time ERP offers. The advantages of real-time data accumulation for customer experiences is fast and significant. Using SAP HANA allow organizations to dump all of their histories into the machine learning system and allow it to process all transactions automatically. If organizations are able to automate up to 90% of their daily transactions, the daily workflow changes would be fundamental and open up an array of opportunities for new responsibilities and roles within modern enterprises.
As for now, that is the future of SAP modern businesses and the people they serve. Unfortunately, some jobs are going to fade away. Overall, however, most of those jobs were tedious ones and not very challenging jobs for employees in the first place. Implementation of these new systems will allow room for greater tasks to be completed on a daily basis.