SAP innovations/solutions have made a significant change in the way businesses operate, helping run them more efficiently and smoothly. The ever-growing customer demand, flexibility, and agility are the key unpredictable market challenges for any business today. If you are still confused about why to choose SAP technology, or whether your business require SAP Solutions or not; Here are a few reasons to clear all such doubts in your mind
SAP Solutions – When and where should you consider these
Scalable solutions : If your business is ready to expand and requires additional resources, SAP Solutions is the best way to facilitate the growth of your business.
Improved productivity : With real-time analysis, transparency of SAP Solutions helps employees to work more efficiently, solve customer queries faster thus saving time and increasing productivity.
Flexibility : With increasing customer demand, SAP Solutions can be tailored to meet the unique requirements of the business.
Streamlined and automated business processes – SAP Solutions are capable of automating the entire end-to-end order to cash management to ease the complexities of billing and invoicing procedures. This will help in increasing the productivity and efficiency of businesses.
Here are some of the SAP Solutions you can look forward to start with in 2021
SAP Billing (BRIM)
SAP BRIM, previously known as SAP Hybris Billing, is an end-to-end cross-industry solution that includes Subscription Order Management, SAP Convergent Charging, SAP Convergent Invoicing, and Contract Accounts Receivable and Payable as individual module/components.
Subscription Order Management : Aimed with the purpose to maintain subscription contracts and maintain catalogs to ensure easy order and contract management. Manage your customers by addressing contract charges, renewals, order distribution, contact management, product catalog, and offer management.
SAP Convergent Charging : SAP Convergent Charging is a tool that is used to evaluate the consumption as per the flexible rate structure. Apart from usage, it also offers support for recurring and one-time charges.
SAP Convergent Invoicing : This process is linked to convergent charging, where the storage and aggregation of billable items, billable item details, invoice creation, and invoicing the customer is handled.
Contract Accounts Receivables and Payables : This is the last component of SAP BRIM that provides highly automated receivables and payments handling and provides the agent with a broad view of customer financial data.
Benefits offered by SAP BRIM:
- Cutback on revenue leakage
- Decrease in billing cost
- Cutback on offer management cost
SAP Subscription Billing Cloud
Subscription Billing Management gives rise to modern and simplified order-to-cash cycles. The cloud-based solution will help the sales reps monitor order and automate the order fulfilment process across multiple systems to work more profitably in a complex partner ecosystem. SAP Subscription Billing Cloud helps businesses in delivering the right mix of subscriptions, enable product, and service bundling to create personalized offers. It also delivers usage-based charges.
The main features of SAP Subscription Billing are subscription order management, mediation, charging, and billing. Along with this the benefits offered by the solution are:
1. Simplified purchase-to-billing cycle
Quick processing: A better way to create the right mix of subscription product and services.
Automated: Can be integrated with multiple systems for order fulfilment.
Monitoring: Monitoring can be done from the initial level up to the activation of the subscription.
2. Customer experience
Convergence: It focuses on selling outcomes and user experience.
Management: It makes the use of customer usage data to quickly iterate offers.
Transparency: The billing process is transparent & simple enough to solve disruptions
SAP Entitlement Management
SAP Entitlement Management comes into the picture when organizations have to implement and execute new business models. With SAP Entitlement management you can manage any number of entitlements your customer has the right to use. SAP Entitlement management is developed from SAP Cloud Platform and can be deployed on various system architecture.
It consists of 3 main models:
1. Entitlement Modelling
2. Entitlement Lifecycle Management
3. Entitlement Repository
Why choose SAP Entitlement Management?
Increase sales and revenue: Gain new customers with flexible subscription-based business models that empower sales. Streamline with an intelligent entitlement management system that reduces the revenue lost to unauthorized usage of subscriptions.
Deliver improved customer experience: With a wide range of self-service options, customers will have transparency over their entitlements leading to improved customer satisfaction.
Reduce cost: Improved customer support opportunities with automated and standardized entitlement and reporting.
SAP Configure, Price and Quote (CPQ)
Implementing SAP Configure, Price and Quote solution enables sales reps to respond more quickly to customer inquiries and consequently help them get in touch with customers and to close deals faster.
What do you see as the benefits of SAP CPQ?
Efficiency: With the help of SAP CPQ, you can speed up the process of the sales cycle which increases the efficiency of sales. It can support quoting for internal sales, partners, agents, and distributors when integrated with common CRM platforms.
Increased customer satisfaction: SAP CPQ easily supports complex quoting for a variety of industries, helping implement highly complex and rules-based pricing and discounting scenarios and schemes. With the document generator in SAP CPQ, quotations are easy to comprehend, and if there are change requests, these can be implemented quickly.
Reduce cost: The preparation of proposals is a time-consuming process. Sales reps can manage quotations of subscription-based products and maintain current client assets within the SAP CPQ application, automating the selling of the right product. This will intern help to save time and reduce costs.
SAP Contract lifecycle management (CLM)
CLM systems assist businesses in contract management by establishing a centralized and authoritative repository of contracts, and renewals of contracts.
Few reasons why you may need a Contract Lifecycle Management solution:
Track compliance: A major issue in many contracts is compliance and ensuring it from suppliers can be time-consuming and difficult. Any organization with poor contract management will likely suffer from cost inefficiencies.
With SAP CLM, organisations can comply with the agreed terms and have opportunities to save on the cost from special terms.
Increase contract cycle efficiencies: The traditional contract cycle takes a while to complete. A CLM platform can identify opportunities where you can save money, improve delivery, and reduce cycle time so that the contact managers can take advantage of it.
Deliver great value to customers and suppliers: Contracts are one of the most important documents and the way these are managed reflects directly on your organization. Exceeding customer expectations through proper contract performance enhances businesses’ values, reliability, and credibility. CLM solution does this for you by streamlining the process through automation and digitization.
Centralized repository: A CLM platform has the ability to combine all contracts and peripheral documentation relevant to it in a central repository. Your team can be more productive and focused as the CLM solution eliminates the need to shift through paperwork manually
Application Management Services (AMS)
Availing Application management services can streamline your IT world by putting it in the hands of people who streamline your systems efficiently. If you want to turn your SAP solution into a strategic tool, you need to have the right AMS partner who has SAP expertise and an in-depth understanding of your IT infrastructure and processes. This will help your business achieve its transformation goals.
Let’s get specific about the benefits of AMS:
Freeing up the need for a large team: AMS Services will support your engineering tools and frees up people to address other issues.
Facing rigorous changes: Application management takes care of all the new applications, new features/upgrades, downgrading software that might require upgradation at any point in time. These are well organized and braced to take care of the changes automatically or as and when requested.
Measure performance: Application management being coherent and reliable, supports measuring the performance and also helps in keeping a track of other activities based on your requirement. Having performance measured in numbers, you can make sure your applications are performing as up to the mark.
Save time and money: The right AMS partner will ensure that you get the most out of your business while using SAP Solutions. This not only allows your team to focus on other strategic activities but also saves a lot of time and money.
The SAP team at Acuiti Labs mainly focuses on providing: deployment flexibility, demand-driven consumption, and value-added services making sure you can keep going on the technology curve.
SAP Business Technology Platform (BTP)
Let’s get specific about the benefits of SAP Business Technology Platform:
SAP BTP is an easy to use platform that provides companies with the ease and flexibility to quickly adapt the changing business scenarios. The SAP Business Technology Platform helps its customers in becoming an intelligent enterprise through integration, extension, and data-to-value from all SAP and third-party application and data assets, while ensuring that the customers’ long-term success through agility, value-creation and continual innovation. It is both a strategy and a portfolio of cloud integrated solutions.
SAP Sales Cloud
SAP Sales Cloud is the full-blown SAP CRM solution for your sales. With SAP Sales Cloud businesses can better manage customer relationships, recognize sales opportunities in due time, and sustainably increases sales volumes. You can have an eye on everything in sales as the SAP Sales Cloud provides you with highly cross-linked and up-to-date data. It empowers sales reps with intelligent recommendations to sell their best anytime, anywhere, and on any device. While also reducing the overall length of the sales cycle, it also creates an opportunity for the sales reps to build a better relationship with the customer.
Benefits of using SAP Sales Cloud:
- Makes data available on both desktops and mobile devices.
- Increase in sales volume as it helps in the exact identification of customer needs.
- Efficiently manage leads and sales opportunities.
- Real-time analytics of customer data
- Automation and streamlining of quotation, discount, and price.
- Target planning and sales forecasting.
The motive behind building the RevSym solution was to address the challenges posed by ASC 606 and IFRS 15. Organizations make use of RevSym solution to work efficiently and effectively, automating the process of consolidating data from multiple systems and delivering real-time GAAP reporting. It helps automate the five steps of ASC 606 and real-time disclosure reporting.
The Five Steps of ASC 606 and Real-Time Disclosure Reporting
1. Identify contracts
Identify revenue contracts through system configuration based on your existing system and processes. Make sure that you allow your user to manually group transactions into contacts.
2. Identify performance obligations
Make use of various attributes to automatically identify contract performance obligations. Hold rules for each performance obligation.
3. Determine the transaction price
With the help of aggregating historical data, estimate the dollar value of all your variable across contracts.
4. Allocate the transaction price to the performance obligation
Standalone selling price estimator will tell you about the automated revenue by looking at the historical data, cost, customer type, and so on.
5. Recognize revenue
Get real-time visibility into revenue waterfalls and liability account balances with configurable reports and automate revenue recognition with performance obligation rules.
Benefits that revenue recognition provides
1. Automate ASC 606 and IFRS 15 accounting
Revenue recognition consists of a simple setup, accounting policies, and rules. It includes configurable, real-time disclosure reports.
2. Accelerate period close and increase compliance
With the help of revenue recognition, we can shorten the financial close cycle while enabling accurate, timely, and automated rule-based revenue recognition and cost accounting.
3. Configure accounting policies with ease
Revenue recognition produces real-time disclosure reports in accordance with the new standards that empower business users.
SAP S/4 HANA
We can say that SAP S/4 HANA is SAP’s most successful ERP System. It’s a path leading to a next-generation, digitalized business platform, allowing you to experience better performance as it relates to complex and time-driven business activities.
Here are some significant benefits you can look forward to:
Performance: SAP S/4 HANA allows you to experience better performance as it allows you to plan, execute, and generate reports & analytics based on live data, as well as prompt period closing and improved forecasting. Besides, it enables organizations to provide better service for customer-centric applications.
Agility: SAP S/4 HANA is completely SAP Fiori driven. It enables users to easily access overview pages, worklists, and list reports, making the user-friendly rendition of real-time business insights and intelligence on any mobile device a business advantage.
Simplicity: SAP S/4 HANA simplification reflects in management and administration of the IT landscape. The hardware and network resources have never been so centralized before.
Innovation: SAP S/4 HANA applications leverage the speed, context, and data accessibility like never before to make sure enterprises stay ahead of the curve and make decisions that are future-ready.
Cost-effectiveness: As far as cost efficiency is considered S/4HANA is a cost-efficient option when you consider the fact that you can combine all the analytical and transactional capabilities of different systems into a single source.
How Acuiti Labs can help you with these solutions?
We are a leading Consulting firm on SAP BRIM and Consume to Cash business process offering solutions to deal with all kinds of billing challenges. With big four consulting experience in delivering process optimization and business transformation programs across industries like Telco, Media, Travel, Logistics, Ports, Hi-tech, Utilities, etc. Acuiti Labs delivers exceptional experiences that exceed client’s expectations.
Each year comes with new advancements in technology and to stay ahead in the competition you need to choose the right solution for your business. We at Acuiti Labs advise businesses on how they can leverage SAP solutions to deliver their business requirements and work with clients to deploy, upgrade, and maintain their chosen solutions.
SAP Solutions have already turned out to be a game-changer for businesses in the past few years and is definitely going to play an important role in defining the success rate of business growth in 2021. Are you planning to use one of the SAP Solutions listed? Get a quote – www.acuitilabs.com