Professional Services industries are driving profitable growth while being responsive to customer and employee needs, owing to the rapid evolution of technologies such as robotic process automation, machine learning, artificial intelligence and predictive analytics. These businesses are focused on the strategic priorities outlined below in order to achieve their goals.
This blog discusses industry-specific features for the Professional Services Industry offered by RISE with SAP’s Business Transformation Service. Let us begin by defining strategic priorities and their benefits for the Professional Services Industry!
Strategic Priorities for Professional Service Industries
These industries have set the following strategic priorities to transform their businesses into intelligent enterprise and helps them to prepare in meeting the expectations of tomorrow’s consumers. Now let’s have a look at those strategic priorities.
- Outcome-Based Engagements
- Talent Networks
- Knowledge as a Service
Intelligent technologies embedded with the RISE with SAP framework plays a critical role in enabling professional services industries to become a digitally transformed enterprise. Adapting to this enables your organization to redesign entire business models, processes, and products by driving enterprise digitalization through product development.
Digitalization of talent has made new business models possible by identifying, classifying, and attracting talent on an as-needed basis outside the boundaries of a firm, and effectively integrating talent into one team based on powerful virtual learning and collaboration platforms.
To better understand this, let’s consider there are two businesses namely:
- Company A uses a non-SAP ERP system
- Company B uses an SAP-ERP system
As Company A’s entire business structure is governed by a non-ERP system, these were the pain points faced by them:
- A fragmented process in which resource demands are not consistently created, shared or aligned across departments.
- Informal resource demand processes based on inefficient spreadsheets.
- Inadequate visibility of internal resource skills and availability, resulting in staffing delays and lower utilization of them.
- Ad hoc team expansion and outsourcing process with no regard for availability or skills.
As a result, insufficient integration of their traditional system resulted in a high involvement of manual processes.
Whereas Company B uses an SAP-ERP system, which enables them:
- An end-to-end, real-time and optimized workforce management chain for collaboration and alignment across various departments is eligible.
- Embedded intelligence allowed them to find the best resources for their needs and helped them engage from anywhere in the world at any time.
- Resource managers had equal and transparent access to internal talents, contractors, alumni, freelancers and open-source talents.
Overall, Company B’s Intelligent ERP [RISE with SAP Package] system provides integration of the entire resource management process, from the role and resource demand forecasting during the bidding stage to project closure and offboarding resources.
Top Value Drivers
The major value drivers in the professional services industry post successful deployment of SAP S/4HANA are:
- Increased project team productivity and end-to-end process efficiency by 10%.
- Reduced worker acquisition time by 40%.
- Organizations with recruiting self-service for managers have a 17 percent lower cost per hire.
(Note: Data was taken from SAP’s statistics)
Now you may be asking, “How can RISE with SAP helps us?”. Here are the primary business capabilities they offer to assist you in reaching your objectives:
- Identify, classify, and attract talent on an as-needed basis outside of a firm’s boundaries.
- Using powerful virtual learning and collaboration platforms, effectively integrate talent into one team.
To summarise, SAP S/4HANA is one such solution that provides an intelligent and industry-specific benefits to the Professional Services industries via a digital core ERP system. It can help you gain competitive insights into your operations, increasing efficiency and agility while simplifying operations from procurement to manufacturing, order administration, distribution and transportation.
Own your tomorrow with a guided journey and outcome-driven practices of RISE with SAP. To know more about the industry-specific solution, do get in touch with us!