Investing in cloud ERP: a strategic choice for business development

In professional service providers, IT outsourcing, business or IT consulting, auditing, legal services, etc., management often entrusts the IT department with the choice of technologies to increase competitive advantage and best meet the needs and requirements of their customers. With this in mind, IT departments are quickly realizing that cloud-based ERP is the system that can help deliver the so-called “three Ps” strategy: People, Project, Process.

People

A cloud-based ERP system empowers staff who are key to your success. The use of such a system helps the organization in the following areas:

• Providing access to information from any number of departments and locations.
• Guaranteeing broad access to up-to-date information for making informed decisions. Improving information sharing and collaboration between all stakeholders.

Project

In professional services, projects are products or services delivered to clients. The ERP system, based on “cloud computing”, provides easy and fast access to common and reliable information about the project. This allows the project team to reduce risks and manage customer expectations.

Process

Today, the optimization of business processes can be effectively achieved with the help of an integrated cloud ERP. Such a system provides control and guarantees that the approval of critical data is available to all interested parties, internal and external, in a single information space. Information is important as long as it is relevant. Without a well-thought-out ERP strategy to support client databases, corporate knowledge base and files with general access, information turns into a disorganized pile of outdated data and inefficient work with facts. With the transition to cloud infrastructure, IT departments are becoming a key stakeholder in choosing and implementing the best enterprise applications, including ERP.

Growing in the Cloud: ERP for Professional Services

When it comes to implementing a cloud ERP, the choice should be approached carefully. Complex IT solutions are a strategic investment in the future of the company, and implement such a system for the long term. At the start-up stage, the choice of system may not seem so critical. But with the development of the business, sooner or later the question will arise about the implementation of an ERP solution, which should be an effective technological platform and last for a long time.

It should be a proven product, in the development, innovation, localization and support of which the developer constantly invests powerful capital – budgets, knowledge and time of experts in the relevant fields, which is built and updated taking into account the customer experience, and can be quickly adapted to the requirements of the local legislation and market realities. When entering new markets, such a system will be easy to scale and adjust in accordance with the specifics of the business.

Usually, such technological solutions are offered by international companies that have extensive experience in the development of ERP and other business systems, have been working on the product for a long time, constantly improving it, and also have offices, development centers and an extensive partner network in different countries of the world.

Such suppliers of innovative business solutions include the SAP company, which for more than 50 years has been one of the leaders among software developers for enterprises (including service-oriented ones), provides a unified solution in the cloud that meets the various requirements of its customers. The product design is tailored to the needs of customers and meets their unique industry needs with cloud applications that are developed based on the latest technologies (such as AI, machine learning, blockchain, RPA, etc.) to ensure sustainability, growth, business profitability and environmental sustainability. The capabilities of these solutions have been tested by time and the experience of hundreds of thousands of customers.

SAP solutions for professional services help professional services companies meet challenges and achieve profitable growth by increasing operational efficiency, business agility and improving customer relationships.

SAP S/4HANA Cloud is a comprehensive cloud ERP solution based on artificial intelligence (AI) and business intelligence tools that enables customers to perform mission-critical operations in real-time from anywhere, and provides enterprise management with insight and all necessary information for business management.

The SAP S/4HANA solution belongs to the “Leaders” category according to the 2024 IDC MarketScape for SaaS and cloud technologies worldwide in the SMB segment.

SAP S/4HANA Cloud is a key solution for companies that provide professional services. The IT solution helps increase efficiency, improve customer service and ensure long-term profitability by providing a number of benefits, including:

• Better utilization of resources SAP S/4HANA Cloud enables companies to manage their personnel and resources more effectively by integrating all business functions on one platform. With AI-powered forecasting, companies can anticipate staffing needs before they become critical.
• Automation to improve efficiency. SAP S/4HANA Cloud automates processes such as invoicing, reporting, and project management, reducing errors and speeding up work.
• Making decisions based on data. In the world of professional services, speed and accuracy of decision-making is critical. SAP S/4HANA Cloud offers real-time data analytics that provide actionable insights into project performance, profitability, and customer satisfaction.
• Scalability and flexibility. SAP S/4HANA Cloud is designed to scale, allowing companies to adapt to new business models and expand their services without the need to upgrade their IT infrastructure.
• Innovations and future prospects. The integration of advanced technologies such as AI, machine learning and analytics allows companies to continuously improve their services and remain competitive.

To reap all these benefits from implementing an ERP solution in the cloud requires a change in approach and perspective that embraces the unique characteristics and benefits of cloud solutions.

A flexible innovation platform empowers developers

SAP S/4HANA Cloud runs on the SAP Business Technology Platform (SAP BTP), a unified business-centric platform where developers can build, integrate and collaborate with each other. Everyone, from experienced coders to citizen developers, can build applications and business websites rapidly. They can also use SAP BTP to automate processes with low-code/no-code development tools.

Developers can integrate business data both in SAP and in third-party systems using hundreds of prebuilt components and connectors, as well as extensive business content.

With the help of SAP BTP, developers can collaborate across the business. The platform also enables teams to innovate faster and more securely than ever before.

SAP BTP offers developers at various levels of technology needed to support innovation, automation and differentiation.

Given the constant changes in the market and the development of technology, the choice in favor of a cloud ERP system such as SAP S/4HANA Cloud becomes not just an investment, but a strategic decision that allows companies that provide professional services to be one step ahead of the competition. This system not only provides high operational efficiency and better customer service, but also allows for rapid scaling in accordance with changing business models. Cloud ERP solutions from SAP are the key to long-term success and stable development in the era of digital transformations.

Learn about the trends from SAP that will change the professional services industry in 2024.