Reduce time spent accessing data and enable faster, accurate decision-making
Financial decision-makers in various industries have long been grappling with the difficulties of obtaining accurate and timely insights from their data. In this era of cloud computing, organisations struggle to keep pace with fast evolving technologies and the ever-growing data sources.
It’s no secret that the majority of global organisations have implemented state-of-the-art ERP systems to collect and manage their data, ranging from a single system for the entire organisation to multiple systems that may integrate or operate independently. The SAP ERP platform is one of the most widely used by some of the largest global corporations to run their businesses.
As any seasoned financial manager will attest, navigating this data landscape can be quite a challenge. Those working with SAP are well aware of the complexity and difficulties that arise when attempting to gather insights from large, complex data sets.
With a decade of experience helping top clients tackle this issue, I am pleased to share a few tips that I have gathered to help unlock the financial insights your business needs.
1. Ensure the correct data governance processes are in place
When managing vast data sets from one or multiple systems, the task of gathering and verifying data accuracy can be a considerable undertaking. To fully leverage the potential of your SAP data, it is imperative that proper data governance processes are established to ensure consistency and dependability throughout your organisation. With effective data governance, SAP users will have a clear understanding of what data is contained in the system and where it is being utilised, as well as proper controls over access to the data, aiding compliance with regulatory standards. Through improved data tracking and optimisation of data quality, the SAP data can be relied on with greater confidence when making crucial decisions, knowing that the process is secure and dependable. This can help to minimise risk and enhance overall performance.
Investing in the establishment of robust SAP data governance processes now will yield significant long-term benefits.
To learn more about effective data governance, kindly refer to our resources: data governance resources.
2. Automate redundant processes
If your data governance processes are in good order, it is likely that you are facing difficulties with the collection and manipulation of your data, which can be a substantial time drain. To more effectively leverage your SAP data, consider automating processes that perform repetitive tasks such as validating inputs or aggregating information from multiple data sources. This will not only improve accuracy but also free up valuable time for more strategic initiatives, leading to long-term cost savings and greater insight into the financial performance details revealed by your SAP data. Automation also opens the door to advanced analytics capabilities, such as the application of AI technology, to generate forecasts and recommend ways to optimise processes and maximise returns on investment.
3. Leverage a tailored technology: Microsoft Azure Analytics for SAP
An essential consideration is to make use of technology that has been specifically devised to tackle the issue of accessing SAP data. Our Azure Analytics for SAP solution is the perfect way to expedite the journey to insights. The cloud-based analytics solution offers access to the most current data insights and analytics available. The solution is also designed to work in harmony with businesses’ existing SAP systems, allowing for a seamless integration. It can be utilised across multiple functions, not just finance, thus facilitating the integration of reporting even further. Additionally, businesses may draw on the extensive library of pre-built analytics models the solution provides. These models are beneficial in helping financial decision-makers to examine their data and arrive at better decisions. Furthermore, the solution delivers real-time updates, enabling businesses to make informed decisions in changing circumstances.
In summary, Azure Analytics for SAP can assist financial decision-makers the world over in making the best choices in the face of a demanding business environment. The cloud-based solution grants access to the most recent insights and analytics as well as pre-built models for data examination. With real-time updates, it helps businesses stay abreast of developments in a fast-paced world, an absolute necessity.
Start unlocking SAP data today
Working with my clients over the years, I understand how frustrating it can be to not have access to the financial data you need to make accurate decisions for your business. I hope these tips have provided some useful guidance for unlocking your SAP data. If you’re eager to start unlocking the insights hidden within your financial data, I encourage you to consider Azure Analytics for SAP.
To learn more and begin your SAP data journey, simply click here.