In today’s digital economy, there is immense pressure on professional services firms to do more for less. Firms are facing new price pressures and competitive threats. New entrants into the marketplace have changed the way firms deliver services, forcing them to adopt new approaches or face stagnant or declining revenue growth and margins. Digitization of four fundamental elements –expertise, talent, service delivery, and customer engagement –is forcing professional services firms to rethink their business models and focus on how to drive revenue growth without corresponding growth in their employee base, or, in other words, drive nonlinear growth.
This new digital reality has a complex impact on professional services firms. On one hand, digitization drives a great deal of transparency and increasingly demystifies service offerings. It also fundamentally lowers the barriers to entry for a new breed of competitors. On the other hand, digitization provides professional services firms the perfect opportunity to achieve nonlinear growth and rethink their interactions with customers. It allows them to scale their business in ways they could never imagine. It is important to recognize that, at the heart of all the threats and opportunities, digitization will allow professional services firms to serve their customers better than ever before. To succeed, firms will need to put in place a coherent digital vision with clearly articulated offensive and defensive strategies. In particular, they will need to address emerging business models such as driving outcome-based engagements, providing knowledge as a service, and flexible sourcing of resources through external talent networks. To execute on this, firms will not only need to reengineer their business processes, but they will also have to evaluate if they have the right technology platform that can deliver on that vision.
This platform requires an IT architecture that provides both stability and long-term reliability for core enterprise processes, and at the same time allows for flexibility in areas where change is happening on a constant basis. The digital core is the foundation for the core processes that need to run consistently and flexibly. It provides uninterrupted, real-time transactions and analytics, the ability to work with Big Data, and connectivity to line-of-business (LoB) extensions that enable supporting processes such as talent sourcing and networks.
SAP S/4HANA was specifically developed to represent the digital core in this “bimodal IT architecture.” It provides professional services firms with a proven framework to adopt industry best practices while attaining operational excellence –specifically across core financial and engagement management processes.
SAP S/4HANA Sources of Value
The value from SAP S/4HANA comes through simplification of the user experience, architecture, and process.
Simplified User Experience: Across All Devices
SAP S/4HANA empowers frontline users with an end-user-centric consumer-grade experience –because for professional services firms, it’s the frontline employees that add value to clients. SAP is driving simplification and innovation in how business users work with a consistent, role-based user experience available on any device.
Simplified Architecture: No Aggregates –No Redundancies
SAP S/4HANA has a simplified data model that provides an advanced digital data architecture, which in turn provides, in real time, a single source of the truth for both transactions and analytics. This enables extensive flexibility to adapt to changing business models, such as simulating the impact of business reorganizations in minutes rather than days.
Accounting and financial close
Accounts payable and invoice management
Collections and receivables management
Cash and liquidity management
Enterprise risk and compliance management
Financial planning and analysis
Bid and proposal management
Time and expense management
Collaboration and knowledge management
Contract to cash
SAP S/4HANA is The Next Generation Business Suite For A Digital World
The opportunity exists to transform business processes and achieve the digital transformation of your business with more automation and real-time visibility. Our SAP HANA and Big Data solutions address these important these needs and more. Let us show you today! Set up a free consultation.