As you know, the Industrial Revolution is far back in the past. It led us to where we are now, but it is clear that we live in a new environment. When it comes to business, less and less are dragging their feet on the decision of transforming digitally. Once a business considers taking the digital pathway, another challenge arises. In which direction should they go? What should they know and do?
Understand why the Digital Core is a Necessity
The first concept businesses must learn is the digital core. It is more necessary than you may think as less than 1% of the data that exists in businesses today is analyzed and turned into business benefits. That means that 99 percent of data is being wasted as it is not being used insightfully. That is a dangerously high inefficiency that no business should tolerate. Speaking of inefficiencies, management acknowledges that they waste 40% of their time on activities that will never make a Euro or a dollar. Only two aspects of a business’ composition has been mentioned and it’s already at millions in deficit, it’s something that should be unacceptable. It’s no joke, complexity has contributed to the world’s top 200 companies losing €237 BN in annual profits (10% of profits)
What the Digital Core Provides
- Real-time visibility for:
- All mission critical business processes
- Processes around customers, suppliers, and workforce
- Big Data
- The Internet of Things
Enter SAP S/4 HANA
S/4 HANA is the software for the next generation of businesses. The suite provides the business with a digital core that provides all the capabilities mentioned above that allows companies to reformulate their business models and produce new income and surplus. With its newest innovations, S/4 HANA connects to portable devices, people, and business networks to deliver you the value you need in this digital economic era.