Category: Technology

Usage-Based Billing: What Businesses need to know

The marketplace is evolving rapidly, and businesses are leaving no stone unturned to remain ahead of their competition. Usage-based billing is playing a key role in transforming many businesses that have already started leveraging its benefits. Offering precise, customized, and responsive services to your customers can be a game changer specially when it comes to the pricing and billing options you are offering to your customers.

A lot of companies are rapidly moving towards adapting and utilizing the usage/ consumption-based billing model to meet the demand of their customers. It introduces a pricing model that can attract a wide range of customers, irrespective of their product line or where a business stands in terms of its growth.

Why Usage-based Billing?

Why is usage-based billing becoming imperative, and why are SaaS companies increasingly adopting a usage-based revenue model? Honest answer to this question is – the benefits it offers to its customers. It opens a wider customer base for business and is a sort of win-win for both customers and the companies.

In simple words, it allows your customers to enjoy the much-needed flexibility when it comes to their budgets; and at the same time, you are also holding themselves responsible for how much they end up using your product.

Benefits of Usage-based Billing 

Usage-based pricing does not have the straightforward and accurate price offerings for its customers like flat-rate billing, etc., but it does come with a lot of business benefits. Here is the list –

1. Allows the customer to start at a low cost, minimizing friction.

2. Directly links the price paid with the value received.

3. Allows more users to access the product within an account, making the software more ubiquitous and seeding new use cases.

4. Provides businesses with the agility to anticipate in the future, requirements of its customers.

5. While the usage is being metered, businesses can easily track and analyze usage data for the product or service.

6. Provide the customers with options/choices that are aligned with their perceived value of any product or service.

7. On-demand product availability that attracts more potential customers

8. Get the flexibility to offer different combinations of services to increase revenue streams.

9. Overall, it is a flexible, easy to use and comes with several customer benefits.

Why Usage based billing is even better than One-time sales or Subscription Model?

There are three types of monetization models that businesses generally follow –

  • one-time
  • subscription
  • consumption/usage

Out of the three models mentioned above, the consumption or usage-based model comes with the widest range of monetization options. The one-time sale option provides exactly what the name says (a one-time purchase/transaction), on the other hand, subscription model offers a fixed recurring rate irrespective of what is or is not used. But the consumption model or usage-based billing model is the most feasible of all the options and can work for a variety of different options, thus significantly increasing the number of offerings available for the customers and help businesses in reaching maximum revenue numbers.

When the fixed rate subscriptions are combined with flexible usage-based pricing, it results in the form consumption or usage-based model. This model allows the business to take advantage of a recurring fee and provides them a special ability with the help of which they can charge for overages and increase revenue while any product or service is being used or consumed.

Minimize Business challenges with a usage-based model

To take full benefits of usage-based model, it is important to work on the most common roadblocks that businesses might face in strategizing, GTM, and finance. Here are a few questions in each category which any business should understand to fully leverage the advantage of usage-based model –

Strategy & Pricing:

– Is usage-based pricing the right revenue model for us?

– Did we pick the right usage-based value metric?

– What if customers do not like paying based on usage?

– How do we handle overages?

GTM Strategy

– What should be the role of self-service, sales, and customer success?

– How do we navigate sales comp?

– How do we grow adoption and usage?

Finance & Operations

– Is usage revenue valued differently than subscription?

– How do we handle billing?

– How do we handle financial planning with volatile revenue?

– How do we handle cash management and rev rec?

Choose usage-based metric that meets the following criteria:

1. Value-based – Aligns with how customers derive value from your product and how they see success. Helps you communicate your unique product value.

2. Flexible – Allows the customer to choose and pay for their exact scope of usage. Helps overcome buying constraints and budget thresholds.

3. Scalable – Generates more, spend from a customer over time as they use more of the product. Revenue scales naturally with customer growth

4. Predictable – Provides billing and budget predictability for customers large and small.

5. Feasible – Possible for you to monitor, administer, and police with your customers. Tracks with your COGS so that you do not have consistently unprofitable customers.

What are the 5 Financial Metrics that businesses should mainly focus on –

  • Revenue
  • Remaining performance obligations (RPO)
  • Billings
  • Dollar-based net expansion
  • Active customer accounts

Major challenges of shifting to usage-based billing model –

Shifting your business to usage-based billing comes with its own set of risks and difficulties – from how you execute it in your business subscription plans, to whether your customer is taking the change kindly or not. Here are a few major challenges that you as a business need to overcome to move successfully to a usage-based pricing model –

Picking the right pricing model for your business:

A simple way to understand whether the usage-based pricing is an correct model for your business is to contemplate your company costs; if this remains static irrespective of the number of customers using the service, then usage-based billing model may not be right fit for your business.

Therefore, the usage-based billing is most suitable for businesses working on SaaS, cloud and data. This is because of the higher costs generated by increased usage, and the comfort of metering such digital services.

Convincing your customers

While moving to a usage-based billing model, you might face some challenges from your customers, especially when you have started to charge them for a service that you once offered for free.

Now it is up to you, that’s how you convince your customers in understanding that this change is worthwhile, and they will be offered with a lot of its benefits once they start using it. If you as a business fail to effectively articulate this, then your customers might not be okay with the shift. Your business might also experience an increase in customer churn. At this stage only you will be able to identify how effective your customer communications strategies are and also who are your loyal and trustworthy customer.

Predicting your revenues

You must be prepared for unpredictable revenues at the time you bill your customers if you are looking forward to implementing usage-based billing.

A lot of subscription-based businesses forecast their revenues on the basis of Monthly Recurring Revenue (MRR) but forecasting your revenue with usage-based pricing model is a little more difficult. One thing that further complicates this is the variable cost of delivering the service; if your expenditure is bound to customer usage, then your associated costs will fluctuate with that usage too.

Billing your customers

Businesses need to have a best recurring billing system for collecting user consumption data and then further charging them timely and most importantly in a transparent way. Subscription businesses must be able to map and collate usage data from many different systems and sources, irrespective of its format, to track usage and apply right pricing. This is where executing and integrating a robust charging and billing system is important. It helps in streamlining the payment processes and produce itemised invoices.

Conclusion 

Usage based pricing/business model is a very effective way to improve business performance. However, billing for usage-based pricing model comes with a lot of difficulties too. This is where Acuiti Labs with its vast experience in ‘consume to cash’ can help the companies in transforming their business model.

Contact us to know how our technical expertise in SAP BRIM can be the right choice for your business?

Yet another success, yet another solution on SAP Store by Acuiti Labs – AcuitiPay

After successfully launching AcuitiMobi – A mobility-as-a-service app for public transport published on SAP Store, Acuiti Labs’ another SAP BRIM/Billing based application is now available on SAP Store. AcuitiPay – An application based on BRIM technology for connected vehicles is successfully published on SAP Store and available for businesses to download. This app provides world’s first end-to-end payment, billing, subscription, and data management platform for the connected vehicle. This is a new technology app capable of working with partners from the automotive, telecom, and insurance industries (among others) designed to assist the drivers and brings together a wide range of potentially useful functions into one easy-to-use platform.  AcuitiPay brings together all the services that drivers need into one easy-to-use platform such as:

  • Fuel and charging  
  • Roadside / accidents  
  • Parking and Tolls  
  • Insurance 
  • Vehicle Accessories  
  • Maintenance and repairs  
  • Wi-Fi and streaming media  
  • Food and Beverages  
  • Vehicle Financing & Leasing  
Key Features of the AcuitiPay –  
  • Enterprise-grade, worldwide, cross-industry solution  
  • Able to support B2C and B2B transaction volumes & complexities  
  • Future-Proof monetization capabilities of subscription and usage-based business models with agility  
  • Real-time consumer Data Management with GDPR  
  • Configuration based enablement not coding  
  • Industry-leading rating and charging engine  
  • Billing and Invoicing, Outcome-based, Event-based or recurring subscriptions  
  • Track every change to any of the customer’s subscriptions at any period of time during the usage  
  • Overcharging or underpayment is eliminated with precise billing processes  
  • Customers can buy or contract any service from anywhere, at any time with the best possible terms  

Customer benefits of using AcuitiPay –  

  • Enable quick, convenient, one-click payment for services, making driver’s life easier  
  • Single Sign-on “Market-place” experience  
  • Multi-national, multi-currency, taxation, and languages capability  

AcuitiPay uses SAP BRIM backend –  

SAP BRIM (Billing and Revenue Innovation Management) helps users/customers in replacing and revolutionizing the entire traditional billing process. The automated billing solution enables the business to manage the billing process flexibly and efficiently. The entire offer-to-cash business process can be mapped along with the usage-based or recurring price models – keeping a track of entire quotations to the billing and evaluation of the services used, right from consumption, billing, invoicing, and receivables management.  

AcuitiPay revs up the ease and convenience of its connected vehicle platform by using SAP Technology in the following way:  

  • Customer requirements can be implemented better and faster, reducing the overall processing time and cost.   
  • High volume and usage-based data can be processed with high performance efficiently.  
  • Pricing, billing, and invoicing of a wide variety of services.  
  • Reduce deployment time to introduce new services for connected cars.  
  • Integrate efficiently innovative services from third-party providers.  
  • Flexible handling of revenue-sharing models  
  • High transparency/traceability of the entire billing process  
  • Monitor numerous recurring subscriptions/recurring revenue metrics with ease  
  • Manage multiple subscription orders in real-time   
  • Enable various billing schedules (monthly, quarterly, annually)  
  • Drivers can make use of the variety of services under one single platform.   
  • Pay-per-use and auto-renewal services with minimal investment.  
  • Enable quick, convenient, one-click payment for services  
  • Collate billable items accurately and avoid missed consumed items.  
  • Onboard partners’ existing services, offerings, and loyalty programs seamlessly.  

Now count on your driving experience with AcuitiPay. While drivers get choose AcuitiPay, they get numerous services that they might need during their journey.  

Get ready for the Hassle-free ride with AcuitiPay. Contact us today! Check out more details about AcuitiPay on SAP Store – https://bit.ly/2Y4aiHH

The wait is over! AcuitiMobi is now available on SAP Store

The much-awaited MaaS application which will enable account-based travel instead of old school ticket-based travel – AcuitiMobi is now available on SAP Store!

Acuiti Labs is proud to announce the launch of its very new application AcuitiMobi. The primary aim of this new age, mobility-as-a-service application is to enable account-based travel and to resolve critical challenges that commuters face while using public transport. Customers can register and easily plan and execute their journeys with this sophisticated application. It integrates various means of transport that an induvial use while travelling like train, car, bus, taxi, bike sharing, tram etc.

This is an on-demand solution for public transport users which works in real-time and offers complete flexibility to its customers. Being an account-based, customer-centric platform, it brings in a lot of options to make the entire journey hassle-free and allow commuters to plan and use the multi-modal transport seamlessly. It offers on-demand capability for individuals to buy entitlements, subscriptions and passes. Basically, providing complete support to a user while they choose different combination of transport to reach to their destination.

AcuitiMobi – Transforming public transport.

Change the way commuters use public transport with AcuitiMobi! There are several ways in which AcuitiMobi is transforming public transport for commuters.

Provide your commuters with an innovative way to use Public Transport while they use AcuitiMobi. The app comes with very simple navigation choices which can guide its users to choose the required multi-modal transport options as per their convenience and make their journeys efficient and enjoyable. It has everything that a user needs for an effortless & stress-free traveling experience. Right from the user’s travel plan to easy payment options, all this is included in AcuitiMobi app.

The primary purpose of this mobility as a service application by Acuiti Labs is to offer its customers account-based travel, with complete flexibility and payment options. This app will change the way people consume mobility by integrating all forms of transport, like taxi, trains, bike, etc. with the unique feature “pay-as-you-go” option!

Unique Combination of Mobility as a Service and SAP BRIM

While you choose AcuitiMobi, you get the freedom of choosing subscription-based or consumptions based billing options, hassle-free travelling experience and a comfortable journey while using public transportation. The combination of MaaS and SAP BRIM at Acuiti Labs opens several options for its customers. Acuiti Labs is an SAP Certified Silver Partner and offers accelerated implementation services for SAP BRIM, Subscription Billing, Entitlement management, and more. Our experience and competency in ‘mobility as a service’ market can help businesses that are looking for transformation and adoption of a new way of mobility by providing clear view and a complete road map to move ahead in the same direction.

Mobility as a Service and SAP BRIM

Customer benefits of using AcuitiMobi –

  • Account based travel rather than ticket based travel
  • Easy pre-book, subscription or consumption based ‘pay-as-you-go’ model
  • Provide smarter and efficient platform to use city transport.
  • Inbuilt features like smart route planning, personalized user-experience, flexible payment choices, and QR code integration.
  • It is based on S/4HANA BRIM technology, thus offering innovative way to use public transportation.
Checkout all the details about the app on SAP STORE

Looking for a Debt Management Solution? How SAP is the right choice?

Are you looking for a debt management solution? ‘Bad Debt’ is a term used by organisations when the user or customers do not or cannot pay their bills. It is difficult to ignore the fact that with the current economic slowdown and rising unemployment, household incomes around the world have seen a downfall, increasing the possibility of delinquency and an upsurge in bad debt charges. The ambiguities arising from global shocks such as Brexit, trade wars, and a possible recession also pose risks for utilities & similar organisations. At the same time, liberalization and intensifying competition in many markets are resulting in higher levels of switching among customers, sometimes accompanied by bad debt when final bills are not paid.

In liberalized retail markets, utilities bear full responsibility for debt collection, but their manoeuvring room in recovering the bad debt is limited by regulatory and political constraints. The focus on maintaining the best customer experience, together with service obligations and provisions such as long grace periods, protection for vulnerable groups, and winter moratoriums, makes it difficult to suspend the service even as a last resort. Public opinion and political pressure act as a further deterrent, and utility companies need to reconfirm to the public time and again that their processes are fully compliant and adhere to the highest professional standards when it comes to debt collections.

Loss of income is becoming a burden on businesses and inhibiting growth, and the situation shows no signs of improving. Sectors like Utilities, Telecom can ill afford to ignore such waste and eliminating it can generate resources to invest in future growth. In a tight economic and regulatory context, utilities need to work harder to prevent and manage bad debt if they want to stay competitive and improve their resilience. Experience shows that companies are better at weathering downturns if they have already cleaned up their credit processes and minimized overdue debt because they are able to move fast to cut costs, protect profitability, and reserve growth capacity. Thus utilities will have to take matters into their own hands. By reshaping their credit and collections processes, they can improve their ability to predict risk, reduce bad-debt charges by, and provide a better experience for customers.

Barriers & Opportunities

Data Analytics & Customer Engagement

Data Analytics isn’t all new for organisations with large customer base like Utilities, Telecom – it’s actually been around for quite some time. there are numerous utilities using – basic behavioural scoring. Analytics is a continuous improvement process to identify ever changing customer behaviour and other collections related trend. Best-practice collections strategies should use emerging trends to segment customers, targeted collection campaigns & quick adjustments to the treatment path.

Continuously improving process requires the ability to monitor the effectiveness of the strategies, performance of customer segment & other relevant KPIs. In addition, advanced data analysis using metrics and trend displays, and collection control dashboards that illustrate KPIs such as status of overdue receivables and corresponding collections actions, will provide the necessary business intelligence to adapt and extend collections activities.

Various trends where Analytics can support Debt Management –

  • Reactive Collection vs Proactive Measures
  • Customer Segmentation: Can’t pay, won’t pay….forgot to pay
  • Customer Behaviour: Payment pattern, preferred mode of payment, initiative customer reacts to
  • Predictive Analysis
  • Identifying right strategy, right action for customer
  • Insight for the next strategy iteration

SAP Analytics Cloud is one simple cloud solution connecting your people, information, and ideas to enable fast and confident decision making. Machine learning technology and embedded artificial intelligence help you to discover deep insights, simplify access to critical information, and empower informed decision making for all.

Developed for real-time BI, planning and predictive analytics that natively integrates to SAP, the solution can predict when proactive action is required, something typically difficult for companies to do. The accelerated value is in enhancing organization’s ability to collect cash and improving its insight into profitability indicators. It also leverages SAC content to seamlessly integrate with SAP data and SAP S/4HANA®. Advanced predictive analytics becomes the quiet driver behind dynamic operational, tactical and strategic dashboards that have been designed with SAP Fiori for a uniform and modern user experience.

Removing system Barrier

There is a basic understanding in industries like Utility, Telecom on the concepts of collections best practices, but almost all organisation lack the technology to be able to adopt best practices. Traditionally, collections have been the technology domain of the Organisation’s customer information system (CIS). Many companies struggle with weak and restrictive collections functionality in an aging CIS. Others may have a relatively new CIS in place that boasts adequate collections support but is missing key features to support today’s best-practice collections processes.

Collection managers, dependent upon the CIS platform & team to manage collections processes to implement improved collection processes. Debt is not going away. There will always be customers who default on payment. But technology has caught up with the problem, and companies now have the option to implement specialist collection software products that enable best-practice approaches.

Some of the best practices followed across the globe are –

  • Rapid change cycles executed by domain experts: Analyse, Optimize, Implement
  • Strategy changes no more an IT change request
  • Scalable & Flexible when it comes to including new changes/attributes that are based on analytical trends
  • Design transparency, improved performance & integration with 3rd party DCAs
  • Offers tailored treatment based on customer segmentation
  • Allows Champion – Challenger strategy and success valuation

SAP BRIM – Financial Customer Care with Debt Management using BRF+

Business Rule Framework plus (BRFplus) provides a comprehensive application programming interface (API) and user interface (UI) for defining and processing business rules. It allows you to model rules in an intuitive way and to reuse these rules in different applications.

Flexibility in changing Business rules in Collection process enables Revenue Management team to –

  • Make their collections rules progressively more targeted, as they become more and more sophisticated with their analytics and customer segmentation
  • Add more sophisticated customer characteristics (e.g. components of credit risk scores, payment behaviour) as the data becomes more readily available
  • Adapt their rules to changing macro-economic conditions (e.g. recessions, political climates, etc) or changing customer behaviours (e.g. greater mobile use, email use)
  • Respond rapidly to unforeseen events

Leveraging BRF+ features to improve Debt Management

Scenario 1: Business running on SAP with Debt Management using legacy Dunning procedure

Debt Management using SAP’s Legacy Dunning Procedure was limited to few attributes like

  • Days in Arrear
  • Amount of Debt
  • Creditworthiness score

Combinations of these parameters were used to define levels and activities where defined as per Business need.

Debt Management with BRF+ is robust, scalable, and way ahead in its offering compared to its predecessor. It is a framework of Business rules which can use a wide range of attributes to determine the correct path for a customer.

  • Master Data
  • Transactional data
  • Derived values using formula e.g. oldest item, energy/non-energy debt
  • Function Module (data from external system/other modules/calculation of attributes not possible through formula)

Advantage of moving to Debt Management using BRF+

  • No additional licenses required
  • Whole loads of attributes to define strategy
  • Simplifies the process of identifying the right collection path, sequence for a customer based on changing payment behaviors, credit history, Debt parameter, etc.
  • Web based UI enabling Business User to control the strategy changes
  • Supports multiple strategies and at run time identifies the strategy or path to be executed on a customer
  • Supports Champion Challenger concept and reports on Success valuation of the strategies

Scenario 2: Business running on SAP but Collection strategy on 3rd Party Solutions

Because of limited functionalities offered by the Dunning procedure, many companies moved their Debt Management solution to other 3rd parties offerings. SAP too understood the need of the Businesses and introduced BRF+ for managing Debt. This has been a game changer for various organisations especially in the utilities, telecom sector who had no option but to move to 3rd party offerings.

SAP may lag on jazzy screens compared to the 3rd party solutions but on functionality offerings,  it’s no less. GUI look and feel also now has been taken care through FIORI.

The real value what Business gets using SAP Debt Management using BRF+  are

  • Simulation in system before actual batch run controlling unforeseen scenarios
  • No additional license cost
  • Huge saving on TCO as the solution is in the same SAP system.
    • Transactional
    • Data Storage
    • Annual Maintenance
  • No hassle of managing multiple real time interfaces to keep data up to date in the Debt management system
  • Improved Customer Service and savings on AVHT as Business User will have to refer to only one system for all the customer relevant information

What comes along with BRF+

BRF+ is like a container for the complete business rules and provides out of box integration with various other processes along with Debt Management. Power of BRF+ can be leveraged in

Billing and Revenue Innovation Management

  • Product
  • Discount/Charge Activation
  • Charge Plan Activation
  • Charge Plan Parameter Value Determination

Sales and Distribution

  • Output Determination

Revenue Account Reporting

  • Integration with Source System (SD, Hybris Billing, CRM, etc.)
  • Account Determination (POB Attributes, Contract Asset, Contract Liability, Recognized revenue, Deferred Cost)

Industry Solution – Utilities

Advanced Metering Infrastructure Event Management

Why Choose Acuiti Labs for your Debt Management Transformation?

Acuiti Labs is an SAP Silver partner and a digital firm that delivers business and technology consulting services, transforming businesses with pioneering and latest solutions. We have proven expertise in delivering successful SAP BRIM based transformation, thus offering complete support for your Business objective on Debt management.

When it comes to Debt Management transformation, we have collaborated with several clients across industries like Utilities, Telcom, Postal, Port and supported them in containing their Debt position not only by technology implementation but also by offering Industry best practices.

Our professional SAP experts have Big 4 consulting experience and strong technology capability in the area of SAP BRIM, Analytics, AI, Big Data, Mobile & other Cloud technology. We are best placed to understand your Business objective and co-create the required solution.

 

 

 

Intelligent Video Analytics for Smart Cities

Video analytics – we all can agree to the statement that “from the last few years, Artificial Intelligence (AI) has demonstrated the greatest value for the security industry. In fact, the video security systems and AI have dovetailed together so well together that it is almost impossible to tell get any significant value from security video without AI. 

AI has become the transformational force within the security industry allowing it to operate in a much more efficient and effective way.

In simple terms, the advancement in video analytics technology is so much that it can detect within a video feed the actions or incidents that need to be reviewed just like how humans do but simply much faster and sometimes even better!

Also, we need to make a note that computers have got much smarter when it comes to things like face recognition or people tracking where accuracy is a priority.  The improvements in Video Analytics have definitely turned out to be the game changers, ranging from applications such as face recognition, object detection, people tracking, smart parking, and much more. 

Understanding how these technologies work and how they can be beneficial for businesses.

Intelligent video analytics can automatically detect temporal events in videos. The software will refine your video content, narrowing hours of footage down to specific events with the click of a button. You can directly pull up the information you need based on the system’s search parameters.

Let’s have a look at the specific technologies:

Facial Recognition

This facial recognition technology can be used in crowded locations such as Airports, metro stations, construction sites, and retail locations to provide real-time information.

Let us take the example of a retail store and understand this technology. Retailers can use intelligent video analytics to understand the behaviour of their customers. 

Determining people’s key characteristics such as their gender is possible with the state-of-the-art algorithm. Also, keeping track of customers’ movements in the store, helping retailers identify how long a customer looks at a certain product. 

Having this information will help you better determine the placement of products working towards better customer experience and definitely sales. 

Having this data like the customer characteristics, the number of customers, their behaviour in the store, duration of visit, etc, can help retailers get the complete sense of who their potential customers are and what is their preferred time. 

Not only this, but security is also another thing to look for. This technology will transform how we deal with terrorism and other crime. Face recognition algorithms can spot in real-time things which naked eyes will certainly miss. 

Object detection

The object detection technique relates to computer vision and image processing that detects and defines objects such as human faces, animals, or any object in any image, video, or live video stream. The software can classify several objects within a digital image at once. This technology consists of static and moving object detection, video tracking to understand the events that occur in the scene. 

Object detection has a wide range of applications ranging from personal security to productivity in the workplace. Facial detection is one form of it, used for security purpose, another form could be counting the number of people and much more. Here are some industry processes widely influenced by object detection technology: sorting, inventory management, machining, quality management, packaging, etc.

Let us take the example of a surveillance system and understand this technology. A surveillance system can be trained to recognize people in real-time. The technology will keep a count of the number of people and also analyse crowd flow to detect movement in unwanted or prohibited directions. 

Object detection algorithm also uses historical data to determine the normal count of people accordingly and trigger alerts in case of unusual traffic. The intelligent video analytics systems can be trained to detect specific events, with a high degree of refinement. 

People Tracking

Video analytics is the perfect way to keep a track of any situation before or during any suspicious activity (e.g. tracking time of entry and analysing for suspicious behaviour in a metro station).

Let us take the example of health-care monitors and understand this technology. In the health-care industry, video surveillance solutions ensure the safety of their patients, staff, and visitors, at levels that are often regulated by strict legislation.

An intelligent video analytics solution can also detect when a patient has not been checked on according to the requirement and alert the staff. The setup can be such that it can help in monitoring if a person has taken the prescribed medication at the right time or not. Also, the system can be trained to detect emotions from body language and micro-expressions, offering clinicians objective information.

Some key Capabilities of Intelligent Video Analytics

  • Monitoring
  • Alerts and notifications
  • Recording
  • Analytics
  • Security control

Acuiti Labs multimedia team has very strong capability and skills in AI and Video processing for different use cases in multiple industries.

Please do contact us or drop us a line if you have any questions or comments about it.

Mobility as a Service (MaaS) – How is it changing the future of Transportation?

Time is not so far when customer-centric options like self-driving cars, carpooling, people opting for greener options and choosing public transport, etc. will take over, and owning a car will be rare. This is what the future of transportation certainly looks like. The concept of Mobility as a Service (MaaS) makes it even more clear and certain.

In the past few years, a huge shift from using personally owned cars to choosing public transportation or using mobility as a service has been noticed. The current way of traveling from let us say point A to point B has changed and is transforming and shaping up the whole ecosystem of individual mobility.  Not only will be the entire transportation industry will be affected by it, but other sectors including health care, energy, media, insurance etc. will have the impact. These industries should reevaluate and opt for more advanced solutions to create value in this emerging environment.

What is Mobility as a Service (MaaS)?

Mobility as a Service also commonly referred to as MaaS is a customer-centric platform for individuals to use as a mode of transportation. This is an on-demand, real-time platform which basically includes a different combination of transport methods like a car and bike sharing, taxis, and car rentals/leases, and it offers its customers everything that is essential for an effortless traveling experience. Right from the user’s travel plan to payments, all this is included in MaaS.

To choose this service, all you have to do is to take a subscription of the application and you will have the access to available vehicles like car, bike, any public transport pass for the chosen time period depending on your convenience.  If we talk about further details, it has smart mobility options including various modes of transportation for the ecological and social benefit are also playing a huge role in reducing harmful emissions, cleaning the air pollution, and proving better road safety. 

Benefits of Mobility as a Service?

New age service Maas offers various advantages including – 

  • Effortless and smart route planning — Maas offers real-time route planning for the users. it helps them in planning their journeys which might require using multiple transport methods based on the route they choose, with the help of smart suggestions drawn from their particular preferences.
  • Personalisation for best user-experience – MaaS is known for being offered as a completely personalized service. This creates a unique bonding between the users and the transport service provider. With the help of big data, it provides two-way communication and frequent customer feedback because of which MaaS systems have become the greatest customer-focused transportation platform of today
  • Easy payment choices — There are various different methods through which the MaaS users can pay for transportation which includes phones, smartwatches, and bank cards, flexibly before or after their journey, or also on a subscription basis.

What were the typical city transport billing platform challenges?

  • Multiple Booking Platforms – Leading to difficulty in creating bundles, limited integrated view of the customer, poor adaptability to multiple business models and not easy to grow partner ecosystem
  • Revenue Leakage – Manual processes, no single view of the customer, no streamlined order to cash process, limited Automation of business processes, higher Days of Outstanding.
  • Customer Experience – Needs to be enhanced, consistence and contextual
  • Limited Scalability – Bundles as well as combining various billing stream will lead to a massive increase in transaction volumes as well as business rules complexity
  • Visibility – Limited visibility (for business) of customer booking various commute options

How MaaS -Mobility as a Service and SAP BRIM together can be a game-changer?

The digital economy has completely changed the way how customers use to buy and engaged in the same service earlier. The subscription-based model has opened several options for the customers thus making the complete process hassle-free.

The Digital Economy has enabled new services … and changed the way customers buy

   

Iteration is based on customer behavior that includes price per month, per use, volume tiers, minimum commits, freemium, per outcome, etc.

SAP BRIM – Advanced Billing Platform for City Transport

  • Account Registration
    • Register customer account
    • Add credit card details
  • Journey Planning (Purchase)
    • Check routes and possible legs of the journey
    • Buy rides/journeys in advance
  • Journey: Tap-In & Tap-Out
    • Every journey start and end are recorded by NFC, Proximity Sensor Bluetooth devices using the phone
    • Separate events are clubbed together to record the journeys for charging
    • Digital Presentment
    • Responsive and Integrated Reporting / Customer-Centric Statements and Forms
    • The customer receives a statement on mail for monthly usage
  • PayG Payment –Fair Price Promise
    • Flexible Billing/Invoicing and Payment process
    • End of the day all PayG charges are collated and payment run deducted the total from Credit card Service Charging
    • Flexible Business Logic for Services Charging
    • If the ride is already purchased that entitlement is used otherwise the charge is calculated for Pay

How Acuiti Labs can help?

Acuiti Labs is transforming the travel industry via the use of SAP BRIM and excellent customer experience-driven mobile apps.

We have innovated the travel of an individual who is using their own vehicle or using public transport to make it account-based pay rather than individual transactions.

These apps and BRIM platforms are designed to operate in any country or city with minor changes. This will significantly accelerate the adoption of account and relationship-based travel.

Acuiti Labs is an SAP Silver Partner offering an accelerated implementation service for SAP BRIM, Subscription Billing, Entitlement management, and more. Our experience and competency in ‘mobility as a service’ market could provide a complete road map for the businesses that are looking for transformation and adoption of a new way of mobility. Our billing and other SAP Services can help you in changing the way you consume mobility by integrating all forms of transport, including local bicycle services, ride-hailing, car-sharing, and a lot more. Contact us for more details.

Role of SAP Billing / SAP BRIM in Transforming Tolling Business

Transformation of tolling business with SAP Billing / SAP BRIM Solutions – Tolling is generally an amount, or a fee paid to access any road, bridge, or tunnel and the revenue generated by this is utilized for maintenance, construction, and/or other such operations

Toll Business can be simply understood as a way to deal with transportation challenges and provides a positive impact on freight transport in several ways. The toll in many ways has been benefiting society without placing an excruciating financial burden on the entire transport system. The advantages the toll business offer include improved transport efficiency increased revenue for the public budget and reduced external costs of road vehicles.

There is numerous research that has time and again proved that tolls can positively impact transportation in several ways. Below are a few examples –

  1. Improved Transport Efficiency – With the road tolls being introduced, empty headings have been seen to decline. Additionally, tolls are also helping in reducing the vehicle km required for transportation as trucks are improving loading rates because of the pricing pressure.
  2. An affordable choice, without impacting consumers’ prices – In most of the industries the range of transportation cost is between 1% to 5% of the total production cost which is comparatively low, and the accumulated statistics will not show any significant effect.
  3. Significant contributions to transport sector funding comes from the toll revenue – This is true that money that comes from toll revenue is one of the major sources of funding that the transport sector earns.

How Tolling business can help in reducing the worldwide challenge of traffic Congestion?

The increased number of vehicles on road is certainly the cause of massive traffic jams during peak hours in many parts of the world.  Managing the traffic congestion problem on a high scale would not only be a sign of relief to the economies of various countries across the globe but, this would also be helpful for sustained productivity and competitiveness.

A report by the UK government suggests that congestion may cost the economy of England £22 B a year in lost time by 2015. The U.S Transportation Institute said in 2011 that the cost of congestion is more than $120 billion, nearly $820 for every commuter in the U.S. World’s record traffic jam in China, Hebei province, was 110 km long during 12 days in August 2010.

There are three main purposes of road pricing and tolling among these tolling is utilized to generate revenues. The other two important reasons include congestion or value pricing which helps in managing demand and environmental pricing to reduce environmental impacts.

E-Tolling System – What is E-tolling and what are its advantages:

E-tolling or Electronic tolling collection (ETC) is a wireless means of automatically collecting the usage fee or toll charges from the vehicles using toll roads, HOV lanes, toll bridges, and toll tunnels, etc. without requiring any action or stopping by the driver. This not only is time-saving but also keeps the entire process of toll collection transparent. Electronic tolling is also cheaper when compared to a staffed toll booth as it does not require manual processing and it helps in reducing transaction costs for both government and private road owners.

Advantages of E-Tolling –

  1. No stopping of vehicles at a toll booth
  2. Time-saving
  3. The reduced traffic congestion problem
  4. Can save gallons of gasoline every year
  5. Efficient, safe, and secure

Evolution of Business Models and Non-toll Revenue. Transformation of tolling business with SAP Billing –

Toll pricing models have been evolved the most in the past few years. With the evolution and several new innovations, it has become more complex with customers demanding loyalty benefits, discounts, and vouchers. Especially the customers who own a large number of vehicles, deal with a lot of such task forces, and have to take similar journeys several times.

Tolling charges vary depending on what time of the day the trip was taken. How many travelers are there in a car, total distance covered, or even customer’s residence? The payment itself could be prepaid (wallet based), postpaid (Bank settlement) or hybrid model. Also, taxes could depend on the type of vehicles to subsidize electrical vehicles.

Besides the pricing and billing complexities in Toll itself, tolling companies have a lot of avenues to grow the non-toll business and get additional revenue. The same vehicle cards which are being used for Toll could be used for paying for fuel, parking, E-vehicle charging, hiring bikes, and car wash services.

Challenges Faced by Tolling Business

  • Road transport accounts for around 16% of global man-made CO2 emissions. Also, the number of crashes subsequently increases due to congested roads.
  • Tolling business deals with a lot of administrative tasks and paperwork which becomes quite a headache if not managed with the help of proper dedicated solution
  • Juggling between too many transponders and navigating the customer service maze

Role of SAP BRIM Solution in Toll Collecting –

Transformation of tolling business with SAP Billing is super easy with Acuiti Labs!

Billing and Revenue Innovation Management (BRIM) solution under the hood comprises of various different solution components that are pre-integrated in a suite. The Customer, Products Master and Order, Contract Management is handled in the Subscription Order Management (SOM) component that allows new customers to register, along with their e-tag information. On the tolling plaza where the vehicle information is actually captured by tolling operational systems which will then pass that on to Convergent Mediation which allows data massaging and validation.

SAP BRIM Platform can orchestrate information to downstream systems or can couple separate events together like vehicle entry and exist events received from two different toll points on the same route. Convergent charging takes care of the complex rating and charging logic and find out whom to charge and how much to charge for the journey. Finally, Convergent Invoicing can handle billing, invoicing, and settlement processes with banks and postings to subledgers.

Tolling Systems – Open versus Closed

In the closed tolling system, the vehicle is tracked both at entry and exit points. While in the open system toll plazas or charging booths are charging points for the applicable road section.

Tolling System

Customer Journey

The customer journey begins right from the moment when he/she either purchases a card or e-tag from the store and registers it along with the vehicle registration details. Customers can then top-up their card/e-tag using banking services like bank mobile app or ATM. Now when the customer makes a toll-applicable journey, based on a closed or open toll system the toll plaza will record the details or his card/e-tag verifying them against the vehicle plate number to detect any fraud.

These details will then be fed through Convergent Mediation where there will be further validations like multiple journeys on the same path in very short amount of time or improbable time difference between entry and exit timestamps recorded. Once the event data is validated it is rated by the Charging system to create billing items (records) of transactions. These transaction records/items are aggregated to be shared with the customer and the bank for any applicable settlements later. To minimize credit exposure it may very well happen that the entry point registers the vehicle entry and reserves or block some amount on customers’ e-tag accounts and at the exit point the charges are calculated and the e-tag balance is either deducted immediately or send to the bank for settlements.

Advantages of Using SAP BRIM –

  • Simplified Customer interactions
  • Meeting real-time expectations
  • Real-time insight for true customer 360-degree view
  • Increase Transparency and efficiency 
  • Real-time Execution for context-sensitive offerings
  • Improved Customer engagement
  • Innovative pricing and Bundles
  • Consolidated Billing to manage credit and collection efficiently
  • Handles hybrid payments

While now you already know what role SAP BRIM plays in managing toll business efficiently than ever, it also important to get a holistic view of some other advancements offered by SAP solutions to its customers and how Acuiti Labs could be the most suitable choice for you –

Business Responsiveness – SAP BRIM offers Innovative pricing model, charging and billing models and also opens up a smart revenue stream that are personalized for your B2B offerings and you get a chance to know your customers better and thus can offer customized solutions to them.

Efficient Revenue Management – SAP Solutions could be the best choice when you are looking forward to increasing customer satisfaction and improve financial performance with a converged view of a customer account, receivables, payables, and disputes.

The flexibility of Deployment – Get the flexibility of deploying complete, integrated customer care and next-gen billing system with SAP Billing Solutions or choose to deploy in smaller implantable steps for targeted incremental value. You get the freedom of doing it the way you wish to choose!

How Acuiti Labs can be the right digital partner for the transformation of tolling business with SAP Billing?

Acuiti Labs’ can help in the transformation of the tolling business with SAP Billing solution and efficiently handles the issues that toll businesses are currently facing.  We can manage the toll Industry pain points and also support potential future growth avenues. Contact us for the digital transformation of your tolling industry today!

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Transformation of Media and Entertainment Industry using SAP BRIM Solution

What is the need of SAP BRIM Solution for the Media and entertainment industry today? This industry has evolved rapidly over the past few years and has become the early adopters of technology. The evolution of the industry has led to a more subscription-based economy with a healthy dose of usage-based charging. Easy and flexible options to watch movies or their favorite shows which is now at their fingertip with the online streaming platforms like Netflix, Amazon Video, Hotstar, and the list goes on. The need to modernize and adopt a digital transformation-based approach has become imperative for the industry old timers to match with the new technology based streaming platforms.

Releasing movies on the conventional theaters and cinema houses is now being challenged by the new streaming platforms. There is a big shift in the revenue model for movie makers. More and more movie makers and studios are now releasing content directly on the streaming platforms making the traditional model close to obsolete.  Along with this the consumer expectations have changed considerably. They are now looking at pure subscription of their desired bundles or pay per use or a combination of the two. They are no longer willing to be tied to the conventional media content delivery, where the choice was driven by the media service providers.

Imperatives of Media and Entertainment World today –

Consumers of media are now the millennials whose expectations are completely different from yester years. The viewing habits and demands are very technology driven. It is very important to understand that the combination of new digital distribution modalities and evolution of customer’s consumption habits. This is continuously challenging the traditional Media and Entertainment business model. It has already been considered the start of a sweeping transformation that will continue to reshape the entire Media and Entertainment ecosystem.

We cannot ignore the unyielding competition as far as the media and entertainment industry is concerned, with even the biggest of industry players battling for the eyeballs of the viewers and subscribers. The media companies that will rapidly identify and react to the evolving requirements and consumption patterns of the end-users will survive in this rate race.

The rapid growth in advanced technologies has been the single biggest factor behind this resurgence. The same advancement in technologies has also created the commonly witnessed enlightening shifts. The audience now have understood their power and have become more demanding. Gone is the time when they use to adjust their daily routine, to the availability or airing of the content. Content providers are wrapping up their broadcasting and publishing as per the requirement and convenience of the customers. With the growing completion amongst the streaming platforms, the companies have become more customer-centric over time.

When at any given point people can exchange notes with each other about any of the newly launch media content by the means of several social media websites like YouTube or Instagram or review sites, the death or survival of any published or broadcast content can be decided in seconds.

One thing is obvious; consumers are more liberal and are keen to exercise greater choices and express personal freedoms as far as media & entertainment are concerned. Along with independence, consumption has also significantly gone up. This has led to a double-edged challenge for the content providers, greater opportunities, and much higher risks. In the era of technology shifts, it is imperative that only those media and entertainment entities that enable themselves rapidly, identify and act on this tectonic shift in the consumer mindset will survive and indeed thrive.

In summary, challenges faced by Media and Entertainment Industry –

Knowing the fact that the media and entertainment industry is witnessing massive transformation at the moment, it is also reacting by working towards improving the customer experience. Nevertheless, here are some major challenges that are being faced by this industry.
1. Higher Customer Expectations – The customers are expecting the various media and entertainment providers to deliver choice, convenience, and value, all these wrapped inside personalized and customized experiences that should be available on-demand and on a cross-platform basis which should also include limited advertising and strong data protection.

2. Adaption of new realities – Growing competition for viewers and advertisers, combined with ongoing declines in subscribers, has become quite a cause for topline media and entertainment business owners to relook at the new realities and adapt them for being all-time better. All that Media and Entertainment industry requires is a new level of operational superiority — the kind of strategic expense reduction that provides short-term results and long-term efficiencies.

3. Constant desire of customers for something new and unique – Speaking about the traditional Media and Entertainment model, creativity, distribution, and monetization were direct. It was common for consumers to be passive and wait for content that was made available at a time prescribed by others. Digitalization has changed the face of the world and that has reduced the need of an intermediary, that is more atomized, yet a bit complex and, above all, lively. As mentioned earlier, Media and Entertainment consumers are more inspired and demanding. Their expectations are rather high on being able to control how the content, products or services should be delivered to them. This behavior and expectations have been fueled by personalized experiences across their daily life, right from mobility and financial services to communications and indeed entertainment.

4. Mitigation of Cyber risks – Huge amount of data is being created every minute as a result of millions of clicks, views, and downloads. This data offers media and entertainment companies a real competitive advantage, however, this same data is a real threat for them as it acts as a magnet for cybercriminals. Companies need to have a better plan in place in order to deal with any cybersecurity issue.

5. Race to deliver the best content – The rapid growth in video creation and distribution platforms and a consistent rise in engagement metrics, subscription fees, advertising revenue or a combination of all of these together have created an intensely competitive landscape for developing and acquiring the best content.

With so much content available across many distribution alternatives, Media and entertainment businesses are forced to think of innovative strategies to deliver more compelling programs for their consumers to watch. AI and machine learning technologies can be leveraged by these companies to dissect viewing patterns from multiple perspectives to build personalized recommendations into consumers’ digital interaction.

Role of SAP in changing the face of Media and Entertainment Industry

The content offered by media and entertainment industry plays a crucial role in customer satisfaction, SAP S/4 HANA and the cloud platform can help in streamlining and personalizing the content as per the taste of the Audience. SAP S/4 HANA has collaborated with SAP Cloud Platform and is facilitating the media houses to digitize and innovate their business models.

Here are a few points that can help in understanding the role of SAP in media and entertainment industries

Creating New Cloud-Based Multipurpose Applications

The SAP Cloud based platform is helping media companies to build new cloud-based mobile applications rapidly which can in turn help them for the next-generation audience, that are more technology driven and are always hooked online through their mobile devices.

Bundling

Many new media companies are opting for bundling service offered by SAP. Product bundling feature enables them to easily create complex and personalized product offerings of digital goods and services for their customers. With the help of this feature you can also offer flexible pricing and availability rules based on the customer selection

Packaging

In this competitive world of new digital a reality, SAP S/4HANA can help your deal with all packaging requirements efficiently.

Monthly Subscription Billing

SAP Subscription Billing solution can help your business with a simplified, automated approach to billing and ordering processes to help you create and monetize new offers quickly and effectively which can also be chosen on the Subscription basis.

Customer Experience

SAP Billing Services can help your company in delivering better customer experience by providing transparency and flexible billing choices. It can help you in managing huge number of users with ease and also keep a track of user-based charging.

SAP innovative software solutions remain the game changer when it comes to targeting the right audience, dealing with customer problems, establishing better connections with them, and a lot more.

Speaking about the facts, as per SAP’s official website, near about 83% of the media-based companies listed in Forbes Global 2000 are SAP customers, 74 % of radio and TV broadcasting content worldwide is produced by SAP customers and 90 % of the printers and publishers in the Forbes Global 2000 are SAP customers.

SAP’s easy approach to solve to your specific your specific media business requirements –

  • SAP’s intelligent technologies optimizes the overall experience of your customers. Move a step ahead by increasing the transparency of end-to-end processes and leverage real-world awareness which involves consumers, talent, and also business to business (B2B) partners get more innovative.
  • SAP innovative solutions can help you in unlocking business values and potential with digital technology. Get an all new approach to content delivery by connecting innovative technologies with integrated business solutions and get more closer to creating an intelligent enterprise

SAP CX to improve Customer Experience –

With a lot of new options coming up in the market so promptly, it is quite a task for businesses to win customer’s trust and keep it intact in the long run. These fascinating options for the customers are capable enough to drag their complete focus away from you. SAP Customer Experience is one of the best solutions to make each step of your customers journey count. Understand their intentions, interact frequently to show that you care, offer them complete support at each step of their journey. This is how SAP helps you in providing the best of customer service.

SAP BRIM Solution to improve customer experience – Example of the Use-case

The role of SAP  BRIM solution for the media and entertainment industry can be clearly understood with the help of an example of the use-case where the primary requirement was to improve the customer experience. 

Business challenges –

In this use case, the media and entertainment industry wanted a system to deal with:

  • Product bundling and pricing,
  • Manage subscriptions
  • Manage offers efficiently
  • Single billing for subscription and consumption events

They required a provision that can offer the customers bundled product with a lot of unique options for them and a robust OTC process that includes quotation approval.

What SAP Innovative solutions were used to deal with the above-mentioned challenges –

SAP BRIM Solutions can significantly reduce manual efforts and operational cost by offering support for businesses that deal with subscription models. A few SAP BRIM solutions that are involved in this process includes SAP CX C4C, Commerce, Data Mediation, SAP BRIM and Subscription Billing.

Depending on your business goals, SAP BRIM solutions are implemented which helps the businesses understand the scenario of getting numerous advantages for both customers and business itself.

 SAP BRIM Solution Architecture for Media and Entertainment Industry

Benefits

After implementing SAP BRIM solution, the end user was provided with a highly scalable and high-performance SAP CX Integrated solution along with a 360° view of customer records to accelerate collections processes and improve customer service. The business also gets the benefit of provision of performing usage and recurring based billing.

How Acuiti Labs can help –

Acuiti Labs is a UK based SAP Silver Partner and offers innovate solutions like BRIM, Subscription Billing, CPQ, C4C and more. Business growth or improving customer relationships, we can help you with customized solutions for all your requirements. We can help you in accelerating implementation time, reducing risks, reducing manual processes, enhancing sales activities, improved customer interactions and moreover, get you ready for your digital journey with our SAP based solutions.

Best SAP Innovations Witnessed by various industries in 2019, What has 2020 got for you?

SAP is the new age technology and calling it as one of the most intelligent, yet simplified technology of the last decade couldn’t be wrong! From digitally transforming a lot of businesses to giving them an entirely new face for the customers, SAP has truly been a technology that has changed the business game for many in the past years.

As 2020 is already here, many businesses involved in big data spaces are eager to understand and grab upon the next set of SAP Innovations and latest technology trends that this new year has got in for them. Measures to achieve organisation’s bigger goals, transforming and redefining business strategies to offer significantly better customer experience, and focusing on the latest trends to remain ahead of the competitors are a few points that every business promises to follow while at the starting of a new year. 2020 is no different when it comes to enhancing the business and following the latest tech trends.

Another thing that remains static, is the focus on innovation. These innovations could be in the form of anything like launching a new product, or a solution, or it could also be a service. The businesses that will keep innovation as their primary focus in 2020, will flourish and here is when SAP’s latest tech trends are going to help you!

Role of SAP Innovations to fulfill Customer Demands

Customers are evolving over the period of time and so are their expectations. This has somehow created a virtual world of outgrown competition with which every business is dealing in reality. If you are looking for a solution to solve the most complex business problems and want to bring your company’s vision to life, SAP’s innovative solutions can help you. Many businesses are already taking advantage of SAP’s offerings and had achieved the greatest goals through unique and leading-edge software innovations. In 2020, it’s your turn to collaborate with SAP to provide a unique experience to your customers right from discovery to delivery.

Industries that have been benefited with SAP innovations in 2019:

SAP’s latest tech trends and innovations had already helped many organizations in bringing their vision to life and transformed the way they use to deal with their business problems.

Get Benefited from SAP’s experts who have built over 4000 innovative solutions for more than 1500 clients across the range industries including:

1. Health Care

The American Society of Clinical Oncology is shaping the future of cancer care by providing individualised solution. With the help of big data stored in the cloud, people can easily access it and use it to create personalised evidence-based treatment plans which will further result in better patient care.

2. Agriculture

In agriculture, ‘Stara’ – which is a farm equipment manufacturer is reimagining its ecosystem and fundamentally changing its business models with the exceptional solutions by SAP that are helping to digitally connect ‘the internet of things across people, plants and machines. These innovations are helping the company realise its goals in a better way.

3. Transportation

Trenitalia, a high-speed rail company is using a tailored, dynamic magnets management SAP solution that harnesses the internet of things to analyse censored data from trains in real-time. Now customers enjoy better service and the company is saving 8-10% cost annually

4. Retail

A retailer company, Tata CLiQ launched the first of its kind ‘phygital’ marketplace with SAP Hybris Solution to combine the Physical and Digital world. Now, the customers are enjoying seamless omnichannel shopping experience that is personalized so that they feel special every time they visit or buy from here.

5. Entertainment:

Cirque du Soleil, has revolutionized its fan experience by investing in an interactive mobile app. This app is creating a more impressive fan experience.

Make your innovations real with SAP innovative solutions. Now, it is your turn to best utilize these and let your business bloom in 2020. Bring your concepts to life with high value, individualised solutions built by SAP experts.

SAP Tech Trends and Predictions for 2020

1. Big Data

Big Data is the huge collaborated data that we deal with almost every day in our lives. This data keeps flowing and moving from one computer to another computer or devices like mobile or machine sensors. With the use of the right big data tools, your organization can easily manage, store, and analyse this data and get valuable insights that were earlier impossible to imagine.

Big Data can play a vital role in transforming the decision-making ability of you your business with the help of technologies like in-memory data management, analytics, artificial intelligence (AI), and machine learning. Big data solutions for SAP can easily manage your various data landscape – across data warehouses, data lakes, and databases – with perfect to use on-premise and Big Data cloud solutions.

With the use of SAP HANA, you can easily transform the way you deal with the business challenges and get the responsiveness and processing power to make the most out of new opportunities.

2. Machine Learning

Machine learning is a smart technology that educates the computers to perform tasks in a desired way through learning from data – instead of getting it done to explicit programming.

Through the collaboration done with top universities in the world, SAP is all set to explore the more futuristic choices of machine learning and expand the technology for businesses. This collaboration will help SAP in focusing on a lot of different machine learning research topics and work on resolving open AI challenges in various industries.

3. Cloud Computing

Cloud computing can be simply defined as the process of delivering the applications, platforms, data storage, operating systems, and other computing resources over the Internet instead of doing it over on-premise infrastructure.

Businesses like yours can be benefited by choosing the cloud solution as by doing so you don’t need to make direct investments in hardware or IT staff, but get a subscription to the computing resource based on your requirement and pay the amount only for what you use.

These are three main SAP innovations cloud deployment options from which you can choose the best fit for your business requirement – public, private, or hybrid cloud. SAP promises to provide the most secure cloud platform that is maintained with the highest quality standards so that your data is safest.

4. The Internet of Things

The Internet of Things can be defined as a network of physical objects like vehicles, objects, machines, home appliances etc. that use sensors & APIs to connect and exchange data over the Internet.

Get the most out of the Internet of Things and SAP in 2020 for your business with high-tech IoT applications, software, and services.

5. Blockchain

Unlock the potential to revolutionize the way your business currently operates with Blockchain technology. Blockchain is based on distributed ledger technology, which securely records information across a peer-to-peer network. Join SAP Blockchain group and stay ahead of the competition. Easy communicating and networking with peers, staying updated with the latest industry trends and knowledge from speakers and SAP experts are a few best advantages that any business will be able to take while using Blockchain.

6. Digital Transformation

A fundamental rethinking of customer experience, business models, and operations is what digital transformation is all about. Any business that chooses digital transformation automatically chooses new ways to deliver value to the customers, generate better revenue, and improve efficiency.

Now or later, every business will eventually have to opt for digital transformation. A few businesses are under pressure to go for digital transformation and built a strong clientele, while there are others that are looking forward to it and moving ahead with slowly. Are you among those businesses that need to be transformed digitally in 2020?

Customer Satisfaction remains the primary goal for businesses in 2020 too –

Just like 2019, 2020 will also be a year for businesses that will keep their primary focus on Customer Satisfaction. The market will be dominated by the businesses that will understand the customer requirements better than ever before and offer them exactly what they need, even before they know they need that.

Innovation and success of your business success go hand in hand and thus SAP innovations are going to play a vital role in defining the success rate of business growth in 2020.

Most Exciting Artificial Intelligence Trends to watch out in 2020. What does experts say?

Just like 2019, 2020 is going to be a yet another big year for Artificial Intelligence. Though AI is amongst the least predictive industries and we cannot commit anything based on it, still based on what happened in 2019 we can make a few assumptions for 2020’s AI game.
There are some really big technologies that have already made their way in 2020 and, if everything went just like what the experts are saying, this year is going to be super exciting for AI.

Here are a few really interesting Artificial Intelligence trends to watch out for in 2020

Advanced Improvements in Predictive texts

it’s been quite a while since predictive text came into picture and this is a fact that we all have experienced the importance to text predictions in our lives at-least once in a while. Combination of predictive text with Artificial Intelligence could be really exciting as it can help the users in speeding up the writing process to a great extent which will not only save time but will also provide accuracy.

AI Evolutions for Computer Graphics Advancements

The other most exciting trend to look in 2020 will be improvements in the use of AI in computer-generated graphics. This is going to be a great advancement for more photorealistic effects like creating high-fidelity and more real environments, objects, and characters in movies, games and similar HD online shows.

Improved and Efficient Marketing teams

When it comes to improving the efficiency of marketing teams of any organization, use of AI, is going to play a vital role in the year 2020. Research shows that 96% of AI “experts” and 90% of both “opportunists” and “novices” say AI has helped in making their marketing team more efficient. This is because, AI is time saving, it automates a lot of manual tasks, and performs data-intensive work far better and accurate than humans can.

Advancements in Voice-assisted Search

Voice search is on the rise and future clearly belongs to it. Research shows that in 2020, 30% of web browsing and searches will be done without a screen which will be voice based. Auditory technologies and devices like google home, Amazon Echo, Siri, etc. recognizes voice, spoken language and syntax, that not only derive meaning and deliver the results, but it personalizes the results too. 2020 will have almost of 7 billion devices that come with voice-powered assistants and this is only getting better with time.

Business Benefits and Revenue Gains

2020 will bring more benefits for businesses that are going to integrate AI with them in one or the other way. When utilized by the organization within an end-to-end platform, Artificial Intelligence brings in a lot of benefits like predicting and driving revenue to the businesses.

Improvement in real-time personalization

We all have experienced suggestions of personalized messages and notifications many times while we shop. This is done the with AI as it allows sellers or marketers to quickly and accurately get a complete view of customers in real-time while they interact through online portals and mobile apps. This helps businesses to quickly learn how their estimates can fit the wants and needs with ever-increasing accuracy.

Highly improved Facial Recognition technique

Facial recognition technology is amongst the fastest grown technologies of the last decade and perhaps it is only likely to intensify as we move into 2020. Though there are a few ups and downs related to the use of facial recognition technology, we still are hopeful about seeing some more advancements related to facial recognition technology in 2020.

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