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Everyone is talking about how you can use Enterprise Performance Management to pivot your business to the next level.

Is that a possibility? Let’s find out.

What is an Enterprise Performance Management System

SAP Consulting has launched the SAP Enterprise Performance Management platform. A number of business enterprises are vying to get their hands on it.

Enterprise Performance Management or EPM is  ‘one of a kind’ business management process that monitors and improves business performance across the enterprise. The EPM platform collates data from across multiple sources, both internal and external that is then integrated into the system and evaluated by the application.

The approach of an Enterprise Performance Management assists in the following core processes:

• Budgeting, planning, and forecasting
• Developing a model that will enhance the business’s value generation
• Consolidate the results
• Evaluate and analyse the performance

It makes use of the enterprise software application category that in turn can be either personalized or purchased as a ready-made tool by organizations to boost their business processes.

Performance planning, measurement, and analysis of EPM can be easily measured with the help of Key Performance Indicators or KPIs like sales, overhead, operational costs and Return on Investments.

How Can the Business Pivot Using the Enterprise Performance Management System

Generally, businesses tend to limit the implementation and usage of the EPM like SAP Enterprise Performance Management system to the finance division only.

Whilst the direct impact is experienced by this vertical, SAP Partners recommend that other core departments like sales, marketing and HR can benefit from the platform. This is absolutely essential in order to take the business to the next level.

Here’s how this can be achieved.

Sales Funnels can be Optimized Using EPM:

Sales teams can make their sales funnels strong and robust by using the EPM effectively. Collating and analysing the relevant sales figures and data can help in formulating plans ensuring the sales funnels caters to the needs of the customers at every touchpoint.

EPM’s forecasting capabilities can also be used to set targets for the team and monitor them in real-time. The targets can be changed if data supports that the goals set are not in alignment with business objectives.

Marketing Can Monitor Performance Using EPM:

Marketing teams can make data driven decisions when EPM is integrated into its operations. This will help analyse the initiatives deployed, what has worked and what has not. It will also help extract insights to support which marketing efforts should be continued.

Besides operations, Enterprise Performance Management is the key to assessing the performance of the marketing team itself.

EPM Application Can Fine Tune Employee Development and Management:

Planning is an essential function of any Human Resource team. EPM integration with HR functions helps them discover and forecast new requirements that can be quickly incorporated into their quarterly or yearly planning immediately.

This can involve defining new goals and checking the achievement of these targets through individual, team and business performance.

In Conclusion

If your business is at the point where you need to connect your financial and operational metrics to optimize performance and achieve future goals, then it is time to implement EPM into the system.

Speak to MDSap, one of the trusted SAP Partners in UAE to understand your options.

The concept of data warehousing is not new to the corporate world. Today, every business decision is supported by data evidence to ensure that it benefits the organization.

That said, there have been some innovative movements by players like SAP Consulting who are ensuring more effective data warehousing models that will help business enterprises through strategic planning, gaining competitor edge and ultimately making better decisions.

What are the Best Applications of Data Warehousing Across Major Industries?

Today, data warehousing is a necessity and not a luxury for businesses across sectors. This is because it is the only system that allows the organization to integrate distinct sources that come together and enables planning, evaluation, reporting, business intelligence, and easing robust decision-making.

Let’s take a look at some of the top data warehousing applications and how they have been integrated across various industries.

Banking & Finance: Data warehousing has already made its mark in this sector. The financial sector is heavily reliant on data warehousing to scrutinise customer expenditures allowing them to come up with a more strategic approach to boost profitability.

The banking industry is making use of data warehousing solutions to assess consumer data, regulation, and market trends to enable smarter decision making. Data warehousing is also assisting bankers in effectively and efficiently managing their available resources.

Education: Educational institutes depend on data warehousing to get a 360 degree overview of student and faculty data. The institutions with access to data in real-time can make more informed decisions that will help them function more efficiently along with driving revenue for the organizations.

Healthcare: The healthcare industry is another key segment where data warehousing has been making its presence felt quite strongly. Healthcare establishments are utilising data warehousing models to store their clinical, financial, and employee data. They can assess and evaluate the data in real time and extract valuable insights helping them to optimize their resources to benefit the business in the best way possible.

Manufacturing and Distribution: Businesses in the manufacturing and distribution industry and implementing various data warehousing solutions in order to organize and store their data under a unified umbrella. This also helps them analyse market trends, evaluate patterns, and understand areas of improvement ultimately ensuring result oriented decision making.

Retail: Retail establishments are basically the middleman between the end consumer and the manufacturer. Therefore, the level of records and data related to both ends of business is massive. Data warehousing applications help retailers efficiently store this data in a structured and organized manner under a single roof.

Insurance: Customer records and confidential information can be properly maintained by insurance companies across the globe by deploying effective data warehousing applications. Most importantly, they can access and retrieve the information whenever necessary to draw valuable insights into customer preferences and tailor their offerings to meet their needs and expectations.

Services: Data warehousing applications are being increasingly used in the service sector to store and maintain customer records and their financial information in a secure manner. The solutions are coming in handy to evaluate patterns in the market, predict trends and enhance better decision making that will result in a positive outcome for the business.

Can Data Warehousing Help Your Business?

SAP Partners like MDSsap in the Middle East are helping business enterprises in the MENA region to deploy the SAP Data Warehouse that helps the organization accelerate the pace of their data integration processes, analysis, and reporting.

Speak to an MDSap consultants today.

Digital technology and innovative solutions have completely disrupted the banking and finance industry over the last few years. With individuals opting to bank online. Insider Intelligence predicts that approximately 77% of the American population will shift to digital banking. It is expected to increase to over 80% by 2025.

Despite this digital disruption in the BFSI segment, many banks are yet to travel the road where they migrate from multichannel to omnichannel banking.

Let’s understand the two domains and why  banks must make this transition as soon as possible.

What Is Omnichannel Banking?

2021 was essentially the year of omnichannel banking as consumers interacted with various financial service providers via multiple digital touchpoints in order to carry out tasks like opening a bank account or applying for a loan.

Simply put, omnichannel banking is ensuring that consumers are able to access a variety of integrated support and service channels and transition between them smoothly in order to execute their banking related needs. Banks can offer this omnichannel experience to their consumers via voice and phone, chat, SMS, social media, email, and video.

Through an interconnected service, conventional banks can prevent generic pitfalls in their customer service and support goals and deliver a more effective and efficient experience to the end user. Most importantly, it enables banks to synchronize data in real-time and allows consumers the convenience and flexibility to bank using multiple avenues.

From a consumer perspective, this means that they can start the banking process from one channel and seamlessly finish it on another. From the perspective of the banking institution, they gain flexibility and scalability to accommodate their consumers through multiple integrated touchpoints and channels.

What is Multichannel Banking?

Multichannel banking is not new. In fact, it has been around for years.

As the name implies, multichannel banking provides customers access to banking services through several independent channels like the branch, ATMs, call centers, internet banking and even mobile. The services may not function cohesively or consistently across these channels as they were not developed to offer a unified and seamless experience.

Simply put, all of these channels provide a range of services, of which some may overlap across channels. However, each channel operates in silos from the other. Therefore, the customer experience is also not as smooth as it should be. 

What Is the Difference Between Omnichannel and Multichannel?

The majority of banking institutions today are still heavily reliant on multichannel banking as opposed to offering a more seamless omnichannel banking experience to their customers.

The main difference between the two offerings is that multichannel banking uses several independent customer touchpoints to serve the needs of its consumers whereas omnichannel provides a cohesive experience across multiple channels in a more unified and seamless manner.

This essentially means that multichannel focuses on transactions whereas omnichannel emphasizes interactions and engagements across integrated channels, and takes into account real-time data to enhance customer experience.

What’s Next for Banks?

It has a massive undertaking to replace the existing legacy systems in banking institutions with the more unified omnichannel banking processes.

But it can be done with the help of SAP Consulting. If you are a financial institution in the Middle East considering transitioning to omnichannel banking, then it’s time to speak to MDSap, one of the trusted SAP Companies in Dubai to have a better understanding of how to best achieve this goal for your organization.

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Data is a fundamental component that is spearheading breakthroughs in supply chain management today.

To ensure that the supply chain remains agile and future-ready, business enterprises in this segment must invest in analytics. Data needs to be effectively mined for insights that are intuitive and valuable, ultimately facilitating smart and intelligent decision making.

Keeping up with this trend, a survey by Gartner found that 43% of business enterprises are willing to continue with their journey of digitizing and integrative innovative technologies across all company processes and systems. What this actually means is that analytics will completely transform supply chain management in the coming months.

Why Is Digital Reinvention Necessary Today?

To ensure that enterprises retain their competitive edge, digital reinvention is a necessity today. The benefits of digital transformation are over and beyond simply enhancing the performance and productivity of supply chain management.

There are already several proven case studies that highlight the successful application of analytics in supply chain that has facilitated better collaboration between humans and machines. Large corporates have used analytics in supply chain to wield more control in the integration of internal data with external data from partner ecosystems in real-time. This enables the corporates to derive more value from analytics whilst attaining more visibility in the end-to-end systems.

In the long run, companies that implement analytics will be able to improve agility, manage supplier and vendor relations effectively and boost reach and exposure. All of this will contribute to intelligent decision making for the corporate.

How Can Businesses Benefit by Leveraging Analytics into Supply Chain Management?

Supply chain organisations need to bring about a fundamental change in their perspective on data handling in order to implement data-based decision making. This involves a series of digital activities and innovative technologies that support the implementation of data analytics and derive optimal value and intelligence from it.

To make this transformation, here’s what you should be looking at:

Make Sure That the Business Strategy Is Linked to Organizational Goals: Your digital transformation roadmap cannot be developed in siloes. It should be linked to business priorities, objectives, goals and investments that help spearhead the implementation of this reinvention across enterprise-wide verticals and departments.

Ensure That the Methodology Is Agile: Digital transformation in the supply chain supported by analytics is a long-term project. Make sure that the strategy is well defined that is backed by an agile approach. This will help the company is able to reduce future losses as a result of taking up this reinvention and is able to demonstrate a positive return on investment.

Plan the Implementation and Integration Strategically: Data analytics can be instrumental in helping supply chain organizations to adopt a holistic and integrated approach when it comes to the implementation of their digital transformation initiatives. This can also help them identify and address both challenges and opportunities right from procurement to sales. With analytics, you can drive integration embedded with additional processes and workflows that can help transform insights into actions.

In Conclusion

Transformation in supply chain is only possible if business enterprises are willing to explore the value of analytics in combination with processes, technology and experience.

If you are keen to take on this proactive journey of transformation, be sure to check out the range of analytics offerings by MDSap.

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