Part 1 of the “Intelligent ERP-Driven Industries” series
The push to become an intelligent enterprise continues – and no industry is out of its reach. Although not all sectors are maturing at the same pace, there is a common thread forcing every business to reconsider its technology landscape. From fortifying cybersecurity and improving business intelligence to nurturing closer customer relationships, new priorities are rapidly becoming the basis of every industry’s strategy.
SAP recently hosted the Intelligent ERP Industry Virtual Summit to help businesses wipe out their uncertainties and questions around creating a foundation for an intelligent enterprise. Pat Bakey, president of Industries at SAP, kicked off the event with a defining reminder: “The world is no longer defined by the markets and the industries that are served today. Instead, it’s the opportunities created by the value that our customers demand from the business strategies of tomorrow.”
While the speed of change is blurring traditional boundaries, business strategies that clarify this blurriness by renewing the focus on customer intimacy and leveraging the proliferation of technology are creating a whole new world of innovation.
Delivering value through innovation from the core to the edge of the business
In every industry, consumers, not the businesses, are dictating outcomes. They are demanding individualized products, services, and delivery experiences that match their needs, which also drives extreme variability and operational complexity. Simultaneously, businesses must consistently and rapidly innovate to evolve their business models and processes to take on emerging market opportunities, address changing customer preferences and economic dynamics, and empower employees with tools that make work more meaningful.
To stay ahead of this wave of change without getting wiped out by complexity and outdated insight, businesses need to get away from the limitations of their decades-old legacy business management system. Instead, they must embrace the opportunity to digitalize themselves from the core with a next-generation intelligent ERP solution across all aspects of the company.
“Businesses can leverage a high degree of automation from an intelligent ERP solution at the core,” said Sven Denecken, senior vice president and head of Product Management and Co-Innovation for SAP S/4HANA at SAP, during his keynote. “Users can focus on strategic tasks, rather than daily, daunting activities. A digital assistant can guide users through data and applications to identify and handle exceptions. Plus, predictive analytics, which is an inherent part of our next-generation ERP solution, supports real-time decision-making.”
Such a strategy helps ensure that every decision maker – no matter the level or role – has access to complete, real-time data. As access to insights become more ubiquitous, organizations can eliminate any hesitation that can slow the adoption of the latest technology trends such as artificial intelligence, machine learning, and the Internet of Things.
As Uwe Grigoleit, senior vice president and general manager of SAP S/4HANA at SAP, noted during his keynote, “By making ERP systems more intelligent and the center of their enterprise system, businesses can focus more on nurturing the level of creativity and ingenuity needed to bring artificial intelligence and machine learning to life.”
Check out the keynote and session replays from the Intelligent ERP Industry Virtual Summit. Whether you’re new to digital transformation or a long-time practitioner, our hub has the insights you need to solve your specific industry challenges. Learn from top customers and experts as they discuss how intelligent ERP, industry roadmaps, and implementation can guide your business throughout its digital journey.