Technology is becoming popular in the world. And ultimately, all businesses have the same goal: to be the best and perform optimally. All they want is to provide the best employee and customer experience, as well as provide better products and services. They also want to manage their spending by working efficiently, making confident decisions, keeping innovative and running everything smoothly. But have you ever wondered how these needs can be accomplished? If you’re curious to know about the answer, keep reading the blog until the end.
Professional Services Industry
Professional services firms are always at the forefront of digital transformation for their clients. They cover a wide range of industries, each specialising in a specific field of expertise, such as art, healthcare, engineering, and so on. It is critical in assisting their clients in setting their strategic direction, remaining compliant, predicting future risks, recruiting talent and auditing their financial results. As a result, they have been constantly enhancing the value and the significance of digital transformation.
The digital transformation of professional services industries focuses on the prime objectives mentioned below:
- Outcome-based engagements
- Talent networks
- Knowledge as a service
With RISE with SAP framework, it enables new sales models, omnichannel engagement, profit-focused supply chains and optimized plant operations.
Let’s begin with the challenges faced by the professional services industry before undergoing a digital transformation!
Challenges faced before transformation
Professional Services Industries face numerous challenges that limit their ability to fully realise the value of the Intelligent Enterprise. A few of the challenges faced by them are:
- Difficulty in managing the bid and resources with the growth of the company.
- Projects aren’t delivered on time and within the budget.
- Meeting the ever-increasing demands of customers is becoming tougher.
- Difficulty in getting a decent margin even when offering competitive prices.
- A persistent pressure on the businesses to be faster and more agile due to the increase in the demand and expectations of customers.
- There is a constantly building burden to make the workforce management more digitalized and transparent.
- There is a lack of automation, as manual entries are needed to update the data from the local to the master data storage space.
Is your Professional Services Company prepared to use the correct technologies to power smart factories and enable a smart enterprise? If your answer is “NO” then “Digital Transformation” is the key to achieving this goal. Now, let’s look at how S/4HANA, an intelligent ERP system can be used to overcome the above-mentioned challenges.
Why RISE with SAP?
Every enterprise must create new business models to avoid disruption, gain efficiencies to fund innovation, and transform mission-critical systems without putting the company at risk. Generally, organizations start digital transformations for three main reasons: Changing End-Customer Behaviour, Automated Intelligent Supply Chain and Digitalization of Construction. Thus, RISE with SAP supports your business and digital transformation ambitions to unlock two sources of value:
- Enable value creation with differentiating business capabilities — Industry best and next practises for improving employee engagement, generating new revenue streams and maximising existing ones, increasing asset efficiency, increasing productivity and ensuring long-term viability.
- Mitigate risk, reduce cost and accelerate time to value with cloud delivery capabilities — Capabilities that improve transformation readiness, simplified consumption, increase operational resilience and lower overall TCO helps business to move to the next step.
You might be wondering how RISE with SAP will help you in your transformation journey? So, let’s have a look at the advantages gained as a result of the digital transformation.
Benefits of using RISE with SAP
- Increase revenue by introducing new products and services.
- Increase efficiency and digitalization.
- Reduce environmental impact while increasing compliance.
- Enhance customer satisfaction.
- Dynamic decision-making.
To conclude, SAP S/4HANA is one such solution that can offer the professional services industries intelligent and industry-specific benefits through a digital core ERP system. To know more about how SAP S/4HANA or about other solutions that can help enterprises in professional services industries, do get in touch with us!