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:
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 – www.acuitilabs.com