With the unprecedented twists and turns in the market as well as the global economic condition, leaders are over-pressured for beating the intensive competition, bringing the high-quality product to the market with speed, achieve greater customer satisfaction, and improve profit margins.
But, along with all these challenges that are visible to us from far, there is a lot more that business leaders have to go through for bringing the products in the market. To achieve the desired business goals, the leaders first have to improve their internal management systems as well. However, the major roadblock in achieving the same is the inefficiency to access or manage the entire business data. This inefficiency hinders in making informed business decisions as the leaders could not see and relate with the stats that helped in improving business or caused losses.
The most common challenges faced by the leaders
Though, mentioning struggles and complexities
- Lack of a reliable and truthful platform to render end-end visibility across the organization
- Inefficient workflow with dependencies on the manual effort
- Lack of visibility on progress in the project resulting in delayed deliveries
- Lack of communication within the department
- Lack of transparencies with the financial and accounting management
- Lack of authenticity in bills and transaction leading to complexities in GST filing
Is there Any Potential Solution to these Challenges?
SAP, one of the leading automation software development companies realized the challenges faced by the leaders and developed some potential solutions to end these struggles.
The products created by them were developed keeping in mind the unique needs, demands and size of the company.
The three of the most popular and globally accepted products of SAP are:
As shown in the picture above, the three products as per the size of the company are an apt for:
SMEs – SAP Business One, simple all-in-one, affordable solution for small size companies
MEs – SAP Business ByDesign, specially designed for midsize companies, it’s a comprehensive Cloud based ERP software for all business needs
LEs – SAP S/4 HANA advanced automation tool is built to address the highly complex business functions of large enterprises.
Capabilities of SAP Products
All the three SAP ERP Solutions are efficient in automating and transforming businesses, and as per the budget and module requirement of the companies, either of the products can be selected.
However, the core modules and the functionality remains the same. The basic modules in each of these products include:
- Finance and Accounting Management: For all banking, costing, budgeting related requirements
- Inventory management: For controlling the stock and monitoring the availability of the raw materials
- Sales and Purchase: To monitor the expenses made and the overall profit generated through sales
- Customer Relationship Management: To keep a record of the loyal customers and providing them the due facilities while opening new opportunities for sales
- Project Planning and Management: To design and strategize the project and creating the BOM, MRP list for the starting materials required along with their process of production
Also, the capabilities of the products just do not end here; these functionalities can be extended to manifolds by incorporating the add-ons, specific to the industry-requirements. These can be anything related to Quality Control, to Barcode Tracking, or a customized add-on specially built to cater your needs. And hence, we can say that SAP Business One, SAP Business ByDesign and SAP S/4 HANA are the ultimate ERP software in India for the business challenges of emerging leaders.