It's A Phygital World

KC Krishnadas

In May 2016, nearly 150 years after Jamsetji Nusserwanji Tata started a private trading firm in 1868 that grew into the giant Tata Group, TataCLiQ was launched. It was the conglomerate’s first venture into pure-play digital. This e-commerce venture, however, is different from the likes of Amazon or Flipkart in that it converges physical with digital retail, delivering India’s first true “omnichannel” customer experience. Its executives call it “phygital,” a platform that allows shoppers to order, collect, return, or exchange products either online or at any of its brand partners’ brick-and-mortar stores.

I have a fairly prosaic definition of digital because it helps me focus on where I think the disruptions can happen. While enterprises have seen the first wave of disruption due to ‘digital-only platforms,’ the second wave of digital will be ‘phygital’—a combination of physical and digital, commonly called ‘omnichannel.’ –KRS Jamwal, executive director, Tata Industries and Digitalist 2017

The ‘Q’ in the TataCLiQ logo is in the form of a magnifying glass—a visual representation of the brand’s focus on only the best, most authentic brands and products. Unlike other Indian e-tailers that have burnt big-time cash in their quest for growth, this one-year-old enterprise is already disrupting the disruptors through tech-enabled innovation.

When Tricia Manning-Smith, senior on-air global correspondent, Customer Storytelling Team, SAP, dropped in to meet senior TataCLiQ executives Ashutosh Pandey, CEO; Vikas Purohit, COO; and Sauvik Banerjjee, CTO—as well as K.R.S. Jamwal, executive director, Tata Industries Ltd.—to find out more about TataCLiQ, Digitalist magazine decided to accompany her. Edited excerpts from the conversation with the Tata executives follow:

Manning-Smith: What makes TataCLiQ unique?

Banerjjee: It has enabled the brick-and-mortar model online. When you place an order, the store fulfilling it will be one close to your address, or to the pin code of the location you reside in. Ours is not a warehouse model, but a store based fulfilment one. If you place an order for a blue shirt of a certain brand, for instance, you are informed of the stores nearest to your home that stock it. You can either collect it from these stores or have it delivered home, whichever you prefer.

TataCLiQ also opens up all luxury brands. Retailers across product categories love that. Who wouldn’t want his inventory problem in the franchise-driven retail world solved? People thought we were entering the game late. What they did not understand is that we have the loyalty of a huge pan-India customer base.

The consumer shops online and picks up selected products from a nearby store or has it delivered home. Every part of India has a pin code, so when an order is placed, the store nearest to your home puts up its hand and competes with other stores nearby to fulfill your order. The seller can continuously see the orders and where they are coming from. It is similar to the lodging or the taxi businesses now around the world that own neither hotels nor taxis.

Can you buy anything on TataCLiQ?

Banerjjee: It now has clothing for men and women, electronics, footwear, watches, and accessories, but more categories will be added. Many international brands are also seeking to enter the Indian market through Tata-CLiQ .

Can you elaborate some more on the ‘phygital’ experience?

Pandey: Retail, enabling customers to pick up products from a store or having it shipped to their homes is uni-dimensional, easy to do. In India, many brands do not reach beyond the top 10-12 cities because of infrastructure issues. What we have done, for the first time in the world, is become an omnichannel provider for many big brands.

We can scale brand by brand. It’s better than putting up the physical infrastructure ourselves, which would be duplication. This model removes the physical-digital divide by giving customers a seamless experience across both worlds. Conventionally, customers have one or the other, not both and not seamlessly. So ‘phygital’ is combining the physical and digital seamlessly. We were not the first to go to market. Competition existed, and so we had to bring in a degree of innovation and value.

Does TataCLiQ understand India better than its e-tailing rivals?

Pandey: The Tata group has businesses from salt to fertilizers to automobiles to software, so it understands many aspects of India better. In retail, we have the combined learning from Titan, Westside, and Tanishq, where we touch millions of customers every day. This learning is built over a period of time. While algorithms and data can tell you some things, handling so many customers over the years gives you knowledge and insights like nothing else can.

“Every customer experience is important. The customer is not a statistic. He or she is a living person. The day we have the mastery of trying to make her happy through our offering, through our service, through our end-to-end experience that we provide to her, that’s the time you know multiple things can happen.” –Ashutosh Pandey, Chief Executive Officer, TataCLiQ.com

Banerjjee: We personalize the platform on a daily basis using algorithms. We track web behavior, anonymous user behavior, IP address behavior, where orders are coming from, purchasing history, the demographics of buying for specific products, brands, and the like. Our customer service teams work round the clock, answering queries on orders, product availability, or delivery issues—everything from placing an order to having it delivered. We monitor social media feedback and continuously respond to it, usually within 5-10 minutes. If there is any kind of noise created in social media, we try and ensure that at the end we have a happy customer.

How does the logistics work for a country as big as India?

Banerjjee: What we aim at is a threefold model: traditional, online fulfillment using the large 3PLs, and hyperlocal companies. City-based fulfillment providers do the delivery. They are far more agile than big logistics providers within a city.

How does a live business like TataCLiQ help Indians get what they want, when they want it?

Purohit: Our purpose of existence is to connect buyers from [remote parts of the country] to well-known brands, doing so with the confidence that the product is authentic, delivery is swift, and [the customer has] a great buying experience. What will stand out when doing this is that we take every single customer issue seriously, to the point that we have designed a bespoke metric—a customer obsessiveness index. This index must go up as close to 100 as possible. We are not yet there, but we are on our way.

Jamwal: The Tata founders were visionary when they said that the society is not just another stakeholder but the very reason for our existence. There are few business houses or industrialists who look at society as the reason for existence. The group’s history has been one of organic but structured growth. The plan was not to build a conglomerate but to impact lives, build a nation. This was the ethos of the founded and has been carried on over the decades. That won’t go away.

“India is championing a proper marriage between online and brick and mortar, and that’s where the proposition of TataCLiQ. Its an online store inventory reconciliation with visibility to the consumer from a product attribute, SKU by SKU basis.” –Sauvik Banerjjee, chief technology officer, TataCLiQ .com

Banerjjee: We came here in a Tata vehicle; Jaguar Land Rover is a Tata company. Many trucks on the road we traveled were Tata trucks. Some hoardings on the way were of our consumer-facing brands—Titan, Tanishq, Westside, and Croma. We have Tata Salt, a hugely popular brand of table salt, Tata Beverages with its mineral water and fizzy drinks. It will take all day to list our brands, the businesses we are in.

India is home to 1.4 billion people, and we cannot imagine a single adult in the country who is not consciously or otherwise touching a Tata product every day. We see it as a humongous responsibility, for with great power that comes as $100 billion-dollar business comes great responsibility.

How important is digitalization to the Tata group?

Banerjjee: Let’s put it this way: India is expected to be the third-largest digital economy by 2020, according to data from preeminent research organisations. The digital economy, whether in fintech, IoT, omnichannel, or digital banking, will be massive. With India set to become the third-largest digital economy in the next three years, the Tata group will play a big role in enabling and augmenting it, giving it velocity.

How important is trust in the digital world?

Banerjjee: Digitalization, by its very nature, brings privacy almost to an end. You do not know what the data is being used for. People sometimes may not trust sites that sell all kinds of things. That is why cash on delivery is quite widespread in this country. That is where known brands like the Tata brand, which people trust to do the right things for them as it has done over the decades, count. In our hyper-connected world, people need anchors and trust is one of the biggest anchors. That is the reason for the continued relevance of the Tata group.

“We have realized that most marketplaces have become catalog aggregators vis-a-vis becoming a catalogue authority. That’s the difference in approach that a marketplace can take.” –Vikas Purohit, chief operating officer, TataCLiQ.com

What is TataCLiQ doing to make customers feel special?

Banerjjee: Growth alone is not enough. We are clear that unless the customer experience is at a level where customer falls in love with you, there is no point trying to scale. Every customer experience is important. The customer is not a statistic, but a living person. As broadband percolates across the country, more smartphone users are enabled every passing day and personalization becomes a bigger challenge. That is what we are trying to crack, and it is a great challenge to have.

The day we master the art of making the customer happy through our offerings, our service, our end-to-end experience, multiple things can happen. At the end of the day, we are all customers and we would all like to feel special. The place we are shopping at must understand us as people. That is our goal.

For more insight on where customer engagement is headed, see Customer Experiences Must Be OmniChannel, OmniNow, And OmniWow.

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About KC Krishnadas

KC Krishnadas is the editor of FactorBranded, a brand solutions media agency. He has 25 years of experience covering technology at The Economic Times and later as the India correspondent for EE Times.

Why Executives Should Follow Kylie Jenner

Arif Johari

How do we convince executives to invest in social selling?

Start by telling your CEO, CIO, CTO, and CMO: “Well, Richard Branson, Mark Cuban, Elon Musk, Michael Dell, and Bill Gates, are all social CEOs – they’re on Twitter, LinkedIn, and they’re setting an example of thought leadership for their employees.”

If that doesn’t convince them, try these insights to convince your C-suite.

The online-shopping world that we live in lacks the warmth of great customer service that a brick-and-mortar may provide. We are social beings! We want to buy from, work with, and engage with PEOPLE! That’s where the human element of social selling comes in – we want to connect with the leaders of the corporations that we affiliating ourselves with.

Why do you think Kylie Jenner made $420 million in just 18 months and is on track to have a billion-dollar beauty brand by 2020? In comparison, it too Lancôme 80 years to became a billion-dollar beauty brand!

By connecting with her fans through Snapchat, Twitter, and Instagram, she gives her followers a glimpse into her life, and she’s an exemplary user of her own products. The consistent product placement shows followers the applicability of her products and allows her followers to live vicariously through her. Once they buy her lip kits, they review and praise the products on social media, which exponentially multiplies impressions of her products. Love her or hate her, you’ve got to give credit where credit is due.

So why aren’t executives getting onboard the social selling train?

They might be thinking: “I don’t understand the value; therefore, I’m not going to do it.” We have a habit of doing things we think make us successful, and if executives have been successful without using social media, they might wonder: “Why do I need to use social media?”

Most company executives get a little excited about the idea of “disruption.” There might be a few out there who are holding onto the reins tightly, not wanting to rock the boat too much, but most executives are visionaries in their industry and they understand the power of disruption, especially after seeing how some disruptive companies have changed their industries. For example, Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. Airbnb, the world’s largest accommodation provider, owns no real estate.

In order to convince executives to embrace social selling, you have to answer the question that is probably giving them pause: “How do we do this so we can remain relevant and authentic to our personal brand and the company’s brand?”

They’ll also want to know the ROI, so start with what’s in it for them:

  • 77% of buyers are more likely to purchase from a company whose CEO uses social media (MSL Group)
  • Social enterprises are 58% more likely to attract top talent and 20% more likely to retain it (LinkedIn)
  • SAP’s social sellers lift quota attainment by 60% and increase opportunity ownership by 200%, resulting in deals that are 600% larger in revenue on average (SellingPower)

How to get started

Executives may not have the time to update their social media profiles, so they’d need hand-holding, especially when they starting out with social selling.

Coach them to improve their social branding on LinkedIn and Twitter. It’s going to be pretty hard to convince employees throughout the organization to embrace social selling if the executives don’t even have a LinkedIn profile.

To maintain momentum, executives can use a prescriptive program that consists of social sharing, social listening, and social engagement, which they can execute in about 10 minutes per day. Tools like Grapevine6, LinkedIn Sales Navigator, and Videolicious play a big role during this execution stage.

A successful social selling program requires all employees to be involved, not just quota-carriers. As you move down the organization, develop a comprehensive social media training and enablement program. You’ll need guidelines, not rules, when encouraging employees to adopt social selling.

When every employee is actively communicating on behalf of the organization, they are increasing the visibility of the organization. Content shared by employees has 2x higher engagement versus the content shared by a company. And data like this – not to mention the example of Kylie Jenner – shows how valuable social selling is today.

Social selling has become such a hot topic that Coffee-Break with Game Changers is dedicating an entire series to exploring its various facets and promoting best practices for salespeople. To listen to other shows in this series, visit the SAP Radio area of the SAP News Center.

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Arif Johari

About Arif Johari

He is a Communications lead, Digital Marketing generalist, and Social Selling advocate. He trains marketing and sales employees to become experts in Social Selling so that they’d leverage social media as a leads-generation tool. He is responsible for executing innovative marketing strategies to increase engagement in social media, customer community, and landing pages through content, events, and A/B testing. He is passionate in making the work processes of the marketing and sales team more efficient, so that they can generate more revenue in a shorter time.

Why Customers Love Online Shopping And How You Can Take Advantage Of It

Andre Smith

It’s no secret that consumers are flocking to online stores in droves. The retail industry is struggling and projected to continue doing so, as online shopping continues to grow. It’s essential for retail leadership teams to understand this trend in order to take advantage of it.

Customers love being able to shop online for a number of reasons:

  • It’s more convenient
  • There is more selection
  • They can compare products/prices more easily
  • Prices are often better
  • It allows for discreet purchasing

Successful e-commerce platforms are based on an understanding of the reasons online shopping has become so popular.

Consult the best resource: your own experience

You likely have done a lot of online shopping yourself. One of the simplest ways to figure out what works and what doesn’t is to reflect on your experiences as a customer. What online stores have you bought from that impressed you? What impressed you about them? Take note of what you like and try and integrate those points into your own online e-commerce platform.

Pay attention to how other online stores (good and bad) handle the following:

  • What are the return and exchange policies?
  • Was the site easy to navigate?
  • Was the customer service personable and of good quality?
  • What unique features, products, or services do they offer that appear to be popular?
  • How is their selection?
  • How is their pricing?

Facilitate impulse buying without looking like you’re doing it

One important thing to remember is that many customers say they prefer to shop online because it often costs less and, most importantly, decreases impulse buying. Retail leadership can respect their wishes while still encouraging impulse buys with several strategies, including:

  • Display similar products when a customer views an item or goes to checkout.
  • Suggest other products that pair well with the product they are buying – for example, a case to go with a camera.
  • Offer free shipping when spending a certain amount of money, which encourages people to buy additional items to meet that threshold.

These strategies net more business while making customers feel like you have helped supplement their purchase or provided them a good deal.

Gather data

When customers shop online, both at your store and elsewhere, they leave behind a virtual treasure trove of data about their habits you can use to your advantage. It might even be worth hiring a data analyst or having a dedicated member of your marketing team constantly monitoring this data. After all, the Internet changes fast, and your customers’ habits and wants are likely to change over time. When something in the data changes, particularly if it is part of a trend, you need to make changes to accommodate it.

Display tour trustworthiness

Except for a handful of online retailers that nearly everyone knows and trusts, it’s not always apparent to customers whether an online store is trustworthy or an item they are considering purchasing is genuine. It can be especially hard to establish yourself when your business is new.

There are some measures you can take, such as being part of professional associations and having a website and storefront that look exceedingly professional, to demonstrate your integrity. For example, if you sell gemstones, certificates of diamond authenticity can reassure a customer and make them feel comfortable buying from you.

Online shopping is how products are sold now and will be into the future. All businesses that offer products must, at the very least, seriously consider opening up a digital storefront. As a leader, it’s important to understand what customers are looking for (and what they aren’t) when they go shopping online, then not only give them what they want, but use the medium to your company’s advantage.

To learn more about customer behavior, interactions, and habits, read the Digitalist Magazine Executive Research, Primed: Prompting Customers to Buy.

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About Andre Smith

An Internet, Marketing and E-Commerce specialist with several years of experience in the industry. He has watched as the world of online business has grown and adapted to new technologies, and he has made it his mission to help keep businesses informed and up to date.

Diving Deep Into Digital Experiences

Kai Goerlich

 

Google Cardboard VR goggles cost US$8
By 2019, immersive solutions
will be adopted in 20% of enterprise businesses
By 2025, the market for immersive hardware and software technology could be $182 billion
In 2017, Lowe’s launched
Holoroom How To VR DIY clinics

From Dipping a Toe to Fully Immersed

The first wave of virtual reality (VR) and augmented reality (AR) is here,

using smartphones, glasses, and goggles to place us in the middle of 360-degree digital environments or overlay digital artifacts on the physical world. Prototypes, pilot projects, and first movers have already emerged:

  • Guiding warehouse pickers, cargo loaders, and truck drivers with AR
  • Overlaying constantly updated blueprints, measurements, and other construction data on building sites in real time with AR
  • Building 3D machine prototypes in VR for virtual testing and maintenance planning
  • Exhibiting new appliances and fixtures in a VR mockup of the customer’s home
  • Teaching medicine with AR tools that overlay diagnostics and instructions on patients’ bodies

A Vast Sea of Possibilities

Immersive technologies leapt forward in spring 2017 with the introduction of three new products:

  • Nvidia’s Project Holodeck, which generates shared photorealistic VR environments
  • A cloud-based platform for industrial AR from Lenovo New Vision AR and Wikitude
  • A workspace and headset from Meta that lets users use their hands to interact with AR artifacts

The Truly Digital Workplace

New immersive experiences won’t simply be new tools for existing tasks. They promise to create entirely new ways of working.

VR avatars that look and sound like their owners will soon be able to meet in realistic virtual meeting spaces without requiring users to leave their desks or even their homes. With enough computing power and a smart-enough AI, we could soon let VR avatars act as our proxies while we’re doing other things—and (theoretically) do it well enough that no one can tell the difference.

We’ll need a way to signal when an avatar is being human driven in real time, when it’s on autopilot, and when it’s owned by a bot.


What Is Immersion?

A completely immersive experience that’s indistinguishable from real life is impossible given the current constraints on power, throughput, and battery life.

To make current digital experiences more convincing, we’ll need interactive sensors in objects and materials, more powerful infrastructure to create realistic images, and smarter interfaces to interpret and interact with data.

When everything around us is intelligent and interactive, every environment could have an AR overlay or VR presence, with use cases ranging from gaming to firefighting.

We could see a backlash touting the superiority of the unmediated physical world—but multisensory immersive experiences that we can navigate in 360-degree space will change what we consider “real.”


Download the executive brief Diving Deep Into Digital Experiences.


Read the full article Swimming in the Immersive Digital Experience.

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Kai Goerlich

About Kai Goerlich

Kai Goerlich is the Chief Futurist at SAP Innovation Center network His specialties include Competitive Intelligence, Market Intelligence, Corporate Foresight, Trends, Futuring and ideation. Share your thoughts with Kai on Twitter @KaiGoe.heif Futu

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Why Artificial Intelligence Is Not Really Artificial – It Is Very Tangible

Sven Denecken

The topic of artificial intelligence (AI) is buzzing through academic conferences, dominating business strategy sessions, and making waves in the public discussion. Every presentation I see includes it, even if it’s only used as a buzzword – its frequency is rivaling the use of “Uber for X” that’s been so popular in recent years.

While AI is a trending topic, it’s not mere buzz. It is already deeply ingrained into the strategy and design of our products – well beyond a mere shout-out in presentations. As we strive to optimize our products to better serve our customers and partners, it is worth taking AI seriously because of its unique role in product innovation.

AI will be inherently disruptive. Now that it has left the realm of academic projects and theoretical discussion – now that it is directly driving speed and hyper-automation in the business world – it is important to start with a review that de-mystifies the serious decisions facing business leaders and clarifies the value for users, customers, and partners. I’ll also share some experiences on how AI is contributing to solutions that run business today.

Let’s first start with the basics: the difference between AI, machine learning, and deep learning.

  • Artificial intelligence (AI) is broadly defined to include any simulation of human intelligence exhibited by machines. This is a growth area that is branching into multiple areas of research, development, and investment. Examples of AI include autonomous robotics, rule-based reasoning, natural language processing (NLP), knowledge representation techniques (knowledge graphs), and more.
  • Machine learning (ML) is a subfield of AI that aims to teach computers how to accomplish tasks using data inputs, but without explicit rule-based programming. In enterprise software, ML is currently the best method to approach the goals of AI.
  • Deep learning (DL) is a subfield of ML describing the application of (typically multilayer) artificial neural networks. Neural networks take inspiration from the human brain, with processors consisting of small neuron-like computing units connected in ways that resemble biological structures. These networks can learn complex, non-linear problems from input data. The layering of the networks allows cascaded learning and abstraction levels. This can accomplish tasks like: starting with line recognition, progressing to identifications of shapes, then objects, then full scene. In recent years, DL has led to breakthroughs in a series of AI tasks including speech, vision, and language processing.

AI applications for cloud ERP solutions

Industry 4.0 describes the trend of automation and data exchange in manufacturing. This comprises cyber-physical systems, the Internet of Things (IoT), cloud computing, and cognitive computing – everything that adds up to create a “smart factory.” There is a parallel in the world beyond manufacturing, where data- and service-based sectors need to capture and analyze more data quickly and act on that information for competitive advantage.

By serving as the digital core of the organization, enterprise resource planning (ERP) solutions play a key role in business transformation for companies adapting to the emerging reality of Industry 4.0. AI solutions powered by ML will be a broad, high-impact class of technologies that serve as a key pillar of more responsive business capabilities – both in manufacturing and all the sectors beyond. As such, ERP must embrace AI to deliver the vision for the future: smarter, more efficient, more flexible, more automated operations.

Enterprise applications powered by AI and ML will drive massive productivity gains via automation. This is not automation in the sense of repetitive, preprogrammed processes, but rather capabilities for software to handle administrative tasks and learn from user behavior to anticipate what every individual in the company might need next.

Cloud-based ERP is ideal for companies looking to accelerate transformation with AI and ML because it delivers innovation faster and more reliably than any onsite deployment. Users can take advantage of rapid iterations and optimize their processes around outcomes rather than upkeep.

Case in point: intelligent ERP applications need to include a digital assistant. This should be context-aware, designed to make business processes more efficient and automated. By providing information or suggestions based on the business context of the user and the situation, the digital assistant will allow every user to spend more time to concentrate on higher-value thinking instead of on repetitive tasks. Combined with built-in collaboration tools, this upgrade will speed reaction to changing conditions and create more time for innovation.

Imagine a system that, like a highly capable assistant, can greet you in the morning with a helpful insight: “Hello Sven, I have assessed your situation and the most recent data – here are the areas you should focus on first.” This approach to contextualized analysis of real-time data is far more effective than a hard-programmed workflow or dump of information that leaves you to sort through outdated information.

Personal assistants have been around in the consumer space for some time now, but it takes an ML-based approach to bring that experience, and all its benefits, to the enterprise. Based on the pace of change in ML, a cloud-based ERP can best deliver the latest innovations to users in a form that has immediate business applications.

An early application of ML in the enterprise will be intelligence derived from past patterns. The system will capture much richer detail of customer- and use-case-specific behavior, without the costs of manually defining hard rule sets. ML can apply predictive detection methods, which are trained to support specific business use cases. And unlike pre-programmed rules, ML updates regularly as strategies – not monthly or weekly – but by the day, hour, and minute.

How ML and AI are making cloud ERP increasingly more intelligent

Digital has disrupted the world and changed the way businesses operate, creating a new level of complexity and speed. To stay competitive, businesses must transform to achieve a new level of agility. At the same time, advances in consumer technology (Siri, Alexa, and Google Now in the personal assistant space, and countless mobile apps beyond that) have created a desire and need for intuitive user interfaces that anticipate the user’s needs. Building powerful tools that are easy to interact with will rely on ML and predictive analytics solutions – all of which are uniquely suited to cloud deployment.

The next wave of innovation in enterprise solutions will integrate IoT, ML, and AI into daily operations. The tools will operate on every type of device and will apply native-device capabilities, especially around natural language processing and natural language interfaces. Augment this interface with machine learning, and you’ll see a system that deeply understands users and supports them with incredible speed.

What are some use cases for this intelligent ERP?

Digital assistants already help users keep better notes and take intelligent screenshots. They also link notes to the apps users were working on when they were created. Intelligent screenshots allow users to navigate to the app where the screenshot was taken and apply the same filter parameters. They recognize business objects within the application context and allow you to add them to your collection of notes and screenshots. Users can chat right from the business application without entering a separate collaboration room. Because the digital assistants are powered by ML, they help you move faster the more you use them.

In the future, intelligent cloud ERP with ML will deliver value in many ways. To name just a few examples (just scratching the surface):

  1. Finance accruals. Finance teams use a highly manual and speculative process to determine bonus accruals. Applying ML to these calculations could instead generate a set of unbiased accrual figures, so finance teams have more time during closing periods for activities that require review and judgment.
  1. Project bidding. Companies rely heavily on personal experience when deciding to bid for commercial projects. ML would give sales and project teams access to decades-worth of projects from around the world at the touch of a button. This capability would help firms decide whether to bid, how much to bid, and how to plan projects for greatest profitability.
  1. Procurement negotiation. Procurement involves a wide range of information and continuous supplier communication. Because costs go directly to the bottom line, anything that improves efficiencies and reduces inventory will make a real difference. ML can mine historical data to predict contract lifecycles and forecast when a purchasing contract is expected so that you can renegotiate to suit actual needs, rather than basing decisions on a hunch.

What does the near future hold?

An intelligent ERP puts the customer at the center of the solution. It delivers flexible automation using AI, ML, IoT, and predictive analytics to drive digital transformation of the business. It delivers a better experience for end users by providing live information in context and learning what the user needs in every scenario. It eliminates decisions made on incomplete or outdated reports.

Digitization continues to disrupt the world and change the way businesses operate, creating a new level of complexity and speed that companies must navigate to stay competitive. Powering business innovation in the digital age will be possible by building and deploying the latest in AI-powered capabilities. We intend to stay deeply engaged with our most innovative partners, our trusted customers, and end users to achieve the promises of the digital age – and we will judge our success by the extent to which everyone who uses our system can drive innovation.

Learn how SAP is helping customers deploy new capabilities based on AI, ML, and IoT to deliver the latest technology seamlessly within their systems

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Sven Denecken

About Sven Denecken

Sven Denecken is Senior Vice President, Product Management and Co-Innovation of SAP S/4HANA, at SAP. His experience working with customers and partners for decades and networking with the SAP field organization and industry analysts allows him to bring client issues and challenges directly into the solution development process, ensuring that next-generation software solutions address customer requirements to focus on business outcome and help customers gain competitive advantage. Connect with Sven on Twitter @SDenecken or e-mail at sven.denecken@sap.com.