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29 JanBusinessSAP

SAP CPQ integration with SAP CLM: Why this is a better idea for your business?

SAP CPQ is one of the best sales configuration systems that any business can use to ease the complexity of selling solutions that feature multifaced combinations. Choosing CPQ can streamline and automate the selling process so that you deliver a solution that perfectly matches the requirement of your customers.

SAP CPQ is designed with a purpose that can help users to automate and accelerate the sales cycle. While combining products, there is a possibility that you might have to deal with product combination complexities. Simplify this entire process with the help of robust configuration tools that SAP CPQ provides and give your user the advantage of defining component requirements, analyzing functional specification, combing various solution components, and settling interdependencies.

Why CPQ and CLM could be better together?

Enhanced sales, better customer experience, quick processing of deals and minimised errors, these are a few basics required by a sales team in any big or small business. CPQ is the most trusted and efficient system to deal with sales-related problems and provide quick and accurate quotes to the customers with the help of which error-prone and time-consuming processes of sifting through multiple spreadsheets can be avoided.
Automating the complete sales process, including the contract, is another added advantage when it comes to improving the sales cycle. The pace of business is growing faster than ever and businesses in this situation cannot afford to experience any kind of delay in deal/contract finalization. And here’s when CLM (Contract Lifecycle Management) makes your task easy and provides complete surety to the sales reps so that they do not face any difficulty during the legal steps’ finalization.
There are a lot of companies today that have already realised the importance of Contract Lifecycle Management for the business growth and moreover has understood that it is not just record-keeping system but CLM Software’s combination with CPQ system can be the best choice to get you one step closer to your revenue goals
Here are 5 major reasons that show why SAP CPQ integration with CLM is a good idea for businesses today –

1. Helps in Closing Contracts/Deals faster

The complicated manual process of contract finalization demands the sales team to wrap up the legal formalities which indeed are time-consuming and also carry the risk of losing the deal as the customers can lose patience and step back due to frustration.
While at the same time, the automated process guarantees a smooth and quick deal processing where sales reps have the freedom to:

  • Easily create contracts with the help of self-service wizards and templates.
  • Import third-party contracts.
  • Get the advantage of automated approval escalation.
  • Negotiate contracts with the help of pre-approved clause library.
  • Get a collaborative workspace that enables real-time tracking of all redlines plus version control

The reason why a CLM solution streamlines and speeds up the contract process is its parallel cloud presence that gives the flexibility of contract reviewing to multiple approvers at the same time.

2. Enhances Sales Experience

The Sales reps, instead of focusing more and more on the selling process, are required to indulge in the manual process of preparing proposals and contracts for customers. This affects the overall sales of the organization and also demotivates the sales team. Using CLM and CPQ together enhances the sales experience by allowing the reps to speed the entire process from the quote to closing the deal with a signed contract. It gives reps a streamlined and easier way to interact with legal teams and the deal desk. They can focus on selling and driving more revenue.

3. Generate for revenue by never missing renewals

The combination of CPQ and CLM is very helpful for the sales reps as through it they can receive email notifications of contract milestones, renewals, expiration dates, etc. well in advance. You will not need any extra process for the renewals as with this combination all the required information remains at the fingertips and can be easily processed whenever the contract is requiring renewal. This facilitates the sales reps to:

  • To take action ensuring contracts are renewed correctly
  • Follow-ups on upsell suggestions are provided by an AI-enabled CPQ

All this process saves a lot of time and manual efforts which in turn generates more revenue for the business.

4. Boost the overall productivity of your business

Reaching your revenue goals and increasing the productivity of your business is a lot easier with the combination of CPQ and CLM. The SAP CPQ integration with SAP CLM not only simplifies the sales process, but it is also helpful in minimizing the total amount of time that a legal team might take to wrap the entire contract process.
Store all your contracts in a single online repository with the help of which you can have complete visibility and version control to keep a track of each step. You won’t require different applications for different processes like contract creation, negotiation, renewal, etc. and all this can be done with the combination of CPQ and CLM.

5. Offer Better Customer Experience

Deliver optimal customer expertise by providing accurate and quick services with this advanced combination of SAP CPQ and CLM. Avoid any misunderstandings that might occur when working without an automated tool and speed up the entire process by opting for this new online platform. Do not let small manual mistakes and confusions ruin your reputation in front of your valuable customers. When you choose SAP CPQ integration with CLM, you not only choose it for offering the perfect and accurate quote to your customer but also give them the flexibility of being updated with the complete contract processing through this advanced and straightforward integrated system offered by SAP.

Apart from CPQ, CLM can be integrated with –

SAP C4C

The combination of C4C with CLM allows businesses to manage contracts and quote negotiations more efficiently! This happens because a new CLM tab is added to C4C just after the integration is done thus giving the users the privilege of switching between both the applications (CLM and C4C) without having to log in again and again. Other settings such as Contract status check and permissions etc. are configured in CLM just the way it is done in CPQ.

Salesforce

CLM’s integration with Salesforce can help businesses in leveraging CRM data in making informed decisions and managing contract negotiations efficiently. While using this combination, your sales team can easily manage all the related activities through a single dedicated platform thus simplifying the entire workflow for them.

Netsuite

while used along CLM, Netsuite can help users in utilising the guided selling capabilities that are provided by the ERP solution. This integration is also most helpful in streamlining the entire contract management process for the businesses.

DocuSign

CLM and DocuSign integration cut downs the unnecessary costs that you might be spending on printing, scanning, and copying paper documents and enables a completely electronic workflow. This automated system collects information, and sign contracts online with electronic devices like your computer or mobile phone and speeds up the process.

Adobe Sign

Speed up the workflow, manage contracts efficiently, offer clear and full reporting compliance by integrating CLM with Adobe Sign. This combination allows businesses to securely automate workflows and sign contracts online electronic devices like computers, laptop or mobile phones. As an administrator, you can integrate and set up Adobe Sign with CLM and add the e-signature capability by signing an agreement.

How Acuiti Labs can be your best choice for integrating CPQ with CLM?

Acuiti Labs is an UK based SAP Silver partner with expertise in SAP’s latest technologies including Configure Price Quote (CPQ), Cloud for Customer (C4C), Contract Life-cycle Management (CLM), SAP Billing (BRIM), SAP Subscription Billing, and more. We have already deployed several SAP solutions successfully with Global Clientele and have also created a system with the help which you can easily go for SAP CPQ integration with SAP CLM.

Contact us to get more details about how Acuiti Labs can be your best partner in getting CPQ integrated with CLM and making your businesses process a lot more seamless and quicker.

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24 DecBusinessTechnology

Top 7 industries impacted by IoT Solutions

IoT (Internet of Things) refers to the physical devices around the world that are now connected to the internet, used for collecting and sharing data. IoT adds some portion of digital intelligence to devices enabling them to communicate real-time data without a human being involved, effectively merging the digital and physical worlds.

Do you have any idea how far the Internet of Things (IoT) solutions have impacted many industries? Internet of Things (IoT) continues to spread across the home and the enterprise, which is changing how we live and work. We can say that IoT is the next wave of internet technologies. The reason why IoT is being preferred by businesses is that it provides access to more data about their products and their own internal systems. IoT products can be broadly disputed into five categories:

â€Ē Smart city

â€Ē Smart environment

â€Ē Smart wearable

â€Ē Smart home

â€Ē Smart enterprise

The IoT is a giant network of connected “things” that has the potential to impact how we live and how we work. We can say that the world is going with a flow of “Anything that can be connected, will be connected.” Here are a few examples that can make you understand this thing better, consider an alarm clock waking up you at 6 a.m. and then notifying your coffee maker to start preparing coffee for you. Another such example could be that you are on the way to a conference in your car that has a connection with your calendar and already know the best route to take and in case of heavy traffic on the route notifies another party that you will be late. One can say that IoT allows for endless opportunities and connections to take place.

We can see that equipment is becoming more digitised and more connected, establishing networks between machines, humans and the internet. We are entering an age where data analytics, connectivity, and automation are creating innovations and progressing out of reach day-by-day. If we go to see manufacturing, transportation, utilities, healthcare, consumer electronics, retails, financial industries, energy, communication, these all industries are leading IoT investments and adoption. IoT created a new opportunity for industries to evolve and reach new markets.

Here are some remarkable statistics about the impact that IoT has on seven industries:

1. Manufacturing

As we all know more than companies in other industries, rely on heavy machinery to produce products which in return lead to a deep interest in understanding the performance of these machines. IoT is considered to be the driving force behind the industries. In addition to optimizing workflows and processes, it enables automation, data collection, and analytics. It can collect data on the status of the equipment that allows smart technologies to be put in place that allows for proactive maintenance or automated recovery after failures. This data can be exchanged with analytics programs that improve and iterate workflows and processes. With this manufacturer are seeing the greatest transitions from IoT.

2. Transportation

Every industry is investing in IoT, even transportation industry is heavily investing in it. IoT systems are playing a role in managing movement and logistics in transportation. Transportation vehicles are equipped with sensors that help monitor maintenance, optimize fuel consumption, and train drivers. Cameras and sensors may be placed along railroad tracks to monitor wear and tear on wheel assemblies. Vehicles can also monitor driving behaviour for insurance purposes. Digital data recorders are another facility that is programmed to take video samples under conditions of heavy acceleration.

3. Utilities

This industry was one of the early adopters of IoT. The IoT solutions help utility companies to more accurately and efficiently bill customers for consumption. Smart meters are developed that help track the amount of energy users of green technologies send back to the grid helping to incentivize the use of environmentally friendly energy. The oil and gas industry are also benefited from IoT solutions. It is also used within power generating plants to monitor equipment over time. Energy companies are turning to IoT solutions to monitor asset performance and enhance their customers’ experience to boost overall efficiency.

4. Healthcare

In the years to come, the Healthcare industry is that will experience the fastest spending growth in IoT. The healthcare industry has the vast use of IoT solutions that ranges from medical machines that capture images and share with patients, monitoring and troubleshooting problems with equipment, a system that can track dispensation of medicine and much more. Connecting such devices to the internet benefits patients by reducing errors and providing more data to doctors to improve diagnosis and quality of care. IoT solutions are also used for employee monitoring along with patient monitoring facilities and enhancing customer experiences.

5. Retail

As an impact of IoT, the retail world has changed. It can be predicted that in the coming years, rather than going to stores, people will soon be able to try on different outfits using augmented and virtual reality headsets. It’s not only that the fashion stores will change but also the farming and food consumption, a supermarket that is also set to drastically alter their retail approach. Supermarkets will have an abundance of low-cost products, which can be produced only as and when they are required by consumers ultimately leading to saving food wastage and over-stocking of perishable goods.

6. Financial Service

When it comes to financial service organisations they are highly concerned with security and therefore increasingly rely on networks of cameras to ensure the viability of their facilities. Companies in this sector are well ahead of visual analytics adoption. The most important goal of the financial industry is to expand the connectivity of their networks along with employing IoT as a vehicle for greater security. Both banks and consumers are becoming more accustomed to managing their financial transactions through a variety of connected devices. With the help of IoT, devices businesses can measure risk a lot more accurately, helping insurance firms to cost their decisions with a greater degree of precision.

7. Consumer electronics and cars

Observations say that this is the 4th largest IoT market segment in 2016 and is projected to become the 3rd largest segment in 2020. A proven example could be the rise of home and office automation systems and digital assistants such as the Amazon Alexa and Google Home. Most people invest in fully connected homes and offices for a better and convenient living.

Connected cars are also an IoT industry leader. For example, every General Motors car produced today has IoT functionalities that allow drivers to gain information and connect to the internet. In the next coming five years, connected vehicles and smart buildings are predicted to rank among the top industry segment for IoT adoption.

As you can see every industry has the potential to reap the benefits from IoT. The flexibility of IoT technology makes them useful in a wide variety of applications. IoT offers industries the opportunity to increase automation and improve data processing and analytics. IoT devices are driving and will continue to drive change in a variety of industries over the coming years.

How Acuiti Labs can help?

No matter what industry you own, IoT will have some or the other capabilities to offer for your business to get it simplified. It’s time to leverage IoT to gain competition in your marketing and flourish in the sector. If you are looking forward to adopting IoT for a certain reason Acuiti Labs have got a team of experts working on customising IoT solutions according to the requirement of the clients. So, if you are interested to know more about the services offered at Acuiti Labs or you have any quarries and requirements regarding IoT solutions, contact us at https://www.acuitilabs.com/contact-us/.

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06 SepBusinessSAP

SAP Entitlement Management – Benefits and Key Features

Given the constantly evolving technological landscape and the fast-paced nature of businesses, it’s crucial for businesses to be equipped to handle any complexity that may arise. This is where SAP Entitlement Management comes in as an indispensable tool for businesses. It enables businesses to manage entitlements in a streamlined and automated manner, resulting in a superior customer experience, greater flexibility, and improved outcomes for all stakeholders involved.

As a business, it’s crucial to understand that delivering the product or software to customers doesn’t mark the end of a transaction. There’s more to it than just that. Rather, businesses today have entered a new era of selling where new experiences are being introduced to the market and the customers rapidly. Subscriptions, bundling, and embedding software/services together with the products are being provided by businesses so that the customers get better and more attractive deals.

Gone are the days when companies had their focused only on physical products. Today, businesses believe in offering ‘usage rights where they do not rely merely on the initial sale, but on the ongoing relationship with the customer and their satisfaction even after delivering the physical product to them. But understanding and managing what the customer is entitled to is not an easy task as each of these products can have one or more entitlements that might require tracking and potential adjustments throughout their life cycles. Here is when SAP Entitlement Management comes into the picture!

What is SAP Entitlement Management?

SAP Entitlement Management is intended to abridge the entitlement management processes and operations in a way that the requirements of rapidly growing and increasingly complex businesses are streamlined and automated, to deliver better customer experience. 

With SAP Entitlement management, you can create innovative and advanced business models and solution bundles to meet the requirements of the all the time more smarter customers. This includes entitlement modeling, managing workflows, integration, life-cycle management, reporting, and monitoring etc. Here’s how SAP Entitlement Management supports intellectual business scenarios: 

Entitlement-intellectual business scenarios

Key Features –

Entitlement Modeling – This feature can help businesses in freely defining their new entitlement models and assigning entitlement models to offerings. Not only this, but it also helps in maintaining custom sets of attributes like business categories, rights, distribution channels and geo-location etc. 

Integration and Migration Support – Can be integrated with S/4 HANA on-premise order management and can also utilise migration support tools to start the implementation. SAP entitlement management provides you a special set of API services that can be integrated with other SAP or non-SAP systems. 

Entitlement Lifecycle management – With the help of entitlement lifecycle management you can define the procedure of events effecting entitlements and maintain statuses on entitlements throughout the lifecycle and define custom alerts. Also, simplifies and provide support to up-sell, renewal, return, upgrade processes and operations. 

Realtime Reporting and Analysis – Provides custom reports as per the requirement of the customers, products or entitlements and helps customers with insights on current, past and nearing expiration entitlements with the help of user-friendly dashboard. 

Sales, Support and Self-services – SAP entitlement management automates renewal processes by using co-termination logic and simulates entitlement at quotation level. It also helps in enabling self-service scenarios and custom views for sales support and customers with APIs. 

Helps with a Central Repository – Assists in enabling up-to-date visibility of entitlements and as defined in modelling and related product assignments. With the help entitlement management by SAP, you help your business grow and adjust by utilizing highly scalable central repository provided. 

Advantages of using SAP Entitlement Management

An intelligent way to increase sales and revenue –

The intelligent entitlement management system allows businesses to grow by boosting sustainable and recurring revenue streams with the support of subscription-based business models.

Innovative and Better Deliveries –

When it comes to deliver better outcomes, SAP entitlement management could be the best choice. This can help teams in enabling teams with faster deployment of latest offers and related entitlements. Further, it can also assist with the tracking process of the performance to inform and repeat as per requirement.

Deliver the most value from entitlements –

Let your customers get most value from the entitlements and provide them transparency of their entitlements. Range of relevant self-services, alerts, and reminders are offered to the customers to maintain the transparency.

How to get Maximum Value and Revenue from SAP Entitlement Management?

As this is deployed in the cloud, it is available as software as a service (SaaS) based on subscription and the number of users. Businesses need a solid entitlement management system because at times the back-office operations might become more complex. It maximises value and revenue by assuring that: 

  • Your sales reps and channel partners have clear visions of the entitlements of their customers, so that you never miss any opportunity for renewal, cross or upsell. 
  • Your sales teams can deploy proposed bundles faster, and at the same time can track and assess market performance with surety. 
  • Your IT and license administrators are equipped with the important tools to deploy, manage and report on any type of entitlement. 
  • Your customer service executives are well aware of exactly what the customer is entitled to and provides them the tools so that they can properly assist the customer and engage in any upsell or cross opportunity. 
  • Your customers are provided complete transparency into their entitlements, they will also receive entitlement related alerts and reminders, and are restricted from unauthorised usage, that might result in revenue leakage and other such unethical outcomes. 

Software companies, manufacturing, telecommunications, retail, healthcare, financial services, etc. can use SAP Entitlement Management services to manage the entitlements and licenses of their software products and services.

Discover How Acuiti Labs can assist you in effectively managing your SAP Entitlements with these valuable solutions

Licensing and Entitlements: Acuiti Labs can help you manage and automate your software licensing and entitlements, enabling you to track and manage your customer entitlements across multiple channels and product lines. 

Billing and Invoicing: Acuiti Labs can help you streamline your billing and invoicing processes, ensuring that you are accurately billing your customers based on their entitlements. 

Revenue Recognition: Acuiti Labs can help you ensure that your revenue recognition is accurate and compliant with accounting standards, reducing the risk of audit failures. 

Analytics and Reporting: Acuiti Labs can help you leverage data analytics and reporting to gain insights into your entitlement management processes, enabling you to make informed decisions and optimize your revenue streams. 

Integration with SAP BRIM: Acuiti Labs can help you integrate SAP entitlement management services with other SAP BRIM solutions, such as billing and invoicing, order management, and revenue management, providing you with a comprehensive and integrated solution for managing your revenue streams. 

Be it service, support, or security and compliance, SAP entitlement management does it all! If you are looking for an effective and quicker way to transform your business, manage entitlements and deliver best to your customers, look no further and get complete information about this here – Acuiti Labs

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15 MarBusinessTechnology

Acuiti Labs at Mobile World Congress (MWC) – Experiences and Insights

Acuiti Labs recently participated in the Mobile World Congress (MWC) which took place from Monday 25th to Thursday 28th February, in the events center La Fira, Barcelona, Spain.This event brought leading-edge technologies from more than 2,400 leading companies from all around the globe together, all which displayed innovative solutions for a wide range of audiences from tech, automotive, manufacturing, publishing and marketing backgrounds.The most talked about tech during this event was Artifical Intelligence (AI) and 5G.

Acuiti Labs’ Products at MWC

Our technical team presented two unique products of our own which received an overwhelming response from the crowd at MWC 2019:

  • Acuiti Video Player
  • Captare

What are these products, and how do they work?

1) Acuiti Video Player

First of its kind, an Artificial Intelligence enabled video player. This product is a unique player which can be embedded onto the front end or back-end as per the use case. It operates on speech-based search, which finds video Neural Networks based on speech recognition, object and people recognition, making it one of the most forward-thinking innovations in the fiend of (AI).

Features which distinguish the Acuiti Video Player from any other video player in the market:

  • High quality of speech-based search and finding the video using Neural Networks based speech recognition.
  • You can directly pick up from any point in the video by simply using certain words or phrases which match objects or people.
  • This video player comes with play backwards and fast-backwards functions.
2) Captare Security

Captare is a security device which comes with a built-in video image capability.It takes images upon being triggered by some movement.The clicked imagery is then sent to cloud, where Artificial Intelligence runs preselected algorithms to determine the reason behind why the camera was triggered.Based on the conclusion, an alarm is immediately sent to a mobile device along with the clicked image.Yes, this security device will notify you about any suspicious movement directly on your mobile, and help you take any precautionary measures necessary.

Captare devices can be easily be set up using a mobile application, but for more sophisticated corporate systems, there will be a full pc interface for configuration and reporting.

Our favourite products at the event

The Huawei Mate X is certainly the most interesting device from amongst the all we’ve seen, and undoubtedly, the competition was fierce. Foldable phones might be viewed as futuristic for now, but by the end of this year, we might see these devices in the hands of ordinary people. Apart from Huawei Mate X, have a look at some other exciting products at the show:

  • Microsoft HoloLens 2
  • LG DualScreen
  • Nokia 9 PureView
  • Sony Xperia 1
  • Xiaomi Mi 9
  • Huawei Matebook X Pro
  • Energizer Power Max P18K Pop

MWC 2019 Highlights

The MWC 2019 was one of the largest mobile phone shows, packed with huge announcements from major companies operating within the smartphone space. Acuiti Labs witnessed some amazing innovations based on latest technologies such as new form factors (especially foldable designs), new chipsets, latest battery solutions and 5G.
 

Contact our technical team to know more about our tailor-made solutions and applications.

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