The potential of real-time business is raising expectations across the business landscape – in B2B and B2C businesses – with consumers, suppliers, distributors, employees, and everyone throughout your business ecosystem.
The ever-increasing speed of commerce is the driving force behind the desire for real-time business. According to the SAP eBook, The Digital Economy: Reinventing the Business World, some of the key factors playing a role in boosting that demand are technology, consumers, employees, and business networks in the supply chain.
Real-time business drivers
- Technology. Technology is the backbone that makes real-time business possible. It involves the complex process of receiving, processing, retrieving, and delivering data instantly as changes or transactions occur. Technology has jumped to the top of the CEO list of the most important external factors influencing business, according to IBM’s recent Global C-suite Study, Redefining Competition.
- Consumers. In the digital economy, consumers want simple, seamless, customized experiences across multiple channels at any time and on any device. Their desire for instant outcomes is driving businesses to meet the need for real-time transactions.
- Employees. Sometimes business leaders forget that employees are also consumers. Employees who are used to dealing with lightning-quick applications on their phones or laptops as consumers often face painfully slow legacy back-office systems at their workplace. This is why employees are another driving force accelerating the demand for real-time business.
- Business networks and the supply chain. Your supply chain, services, and distribution partners throughout your business network need to be efficiently aligned in order to deliver consumer outcomes as promised. Many business networks are morphing into digital ecosystems or digital supply chains, as multiple organizations and entire industries transform in order to deliver expected consumer outcomes.
The continued expansion of digital ecosystems across and between industries is increasingly touching all of the people, processes, and technology involved in the digital economy in order to achieve the ultimate goal of real-time business.
To learn more about real-time business, and how your company can succeed in the digital era, download the SAP eBook, The Digital Economy: Reinventing the Business World.
For an in-depth look at the multiple factors driving digital transformation, download the SAP eBook, Digital Disruption: How Digital Technology is Transforming Our World.
Take a closer look at how one industry is transforming with the digital age. Learn more about connected healthcare in the SAP eBook, Connected Care: The Digital Pulse of Global Healthcare.