Businesses of all sizes are learning how to survive in this time of unprecedented disruption.
Some are gritting their proverbial teeth and just trying to hang on in there, doing what they can to keep running their business as usual.
Others are braver in their response to recent challenges, investing in intelligent technologies that empower them to reimagine their business models, create new experiences for their customers and employees, and reach new markets. Instead of waiting for the future to unfold, they are proactively creating it for themselves.
It can seem safer to not take any risks in such an uncertain economy. But with the right digital tools in place, midmarket companies can become more agile and uncover the data-led insights to fuel innovation. A number of small and mid-size companies are showcasing how they’ve boosted agility and resilience during these challenging times at the upcoming virtual SAP UKI Midmarket Summit. Here’s a snapshot of some of their inspiring digital transformation journeys.
Irish company uses predictive analytics for successful ‘pandemic pivot’
EquiRatings Ltd is a global equestrian technology company based in Ireland that provides data-driven solutions for Olympic teams. With so many live equine events cancelled due to the pandemic, EquiRatings put ten years of competition data to good use by creating virtual events. Fans can choose their teams through a fantasy-style Eventing Manager app, which now has users in over 100 countries.
“SAP Analytics Cloud allowed EquiRatings to respond quickly when the seriousness of the pandemic became evident,” said Diarmuid Byrne, managing director of EquiRatings. “Combining domain knowledge with predictive analytics software and fan-facing solutions allowed a roll-out of a complete fan experience solution in just a couple of months. Being able to provide simulated sport and a fan experience tool together opened up a range of potential new revenue streams.”
Digital transformation drives market expansion
Another mid-market customer, a London-based mobile telecommunications company operating in 23 countries, needed to meet post-pandemic customer behaviors, as well as expectations for more diverse, differentiated, and value-added mobile services. As part of its plans to grow the core business and expand into new markets by providing innovative digital services, the organization is partnering with SAP and other technology providers to transform its infrastructure and develop a scalable eCommerce platform.
The company already had digital transformation plans in place at the start of the Covid-19 restrictions in the UK. Whilst the world was so unpredictable, they could have chosen to put the brakes on their digital transformation in favour of a ‘watch and wait’ strategy. In my opinion, forging ahead with their plans was a true act of leadership and vision.
Intelligent ERP supports the shift from in-store to online
A leading UK mid-market retailer also chose to go ahead during the pandemic with plans to modernize business processes and systems. Since moving from in-store to predominantly online shopping, the company’s legacy ERP couldn’t cope with the increased transaction volumes. They needed a cloud-hosted ERP platform that would grow with them.
Their perception was that an intelligent ERP system would be too big for them, too expensive, and would take too long to deliver. However, their implementation partner’s set of accelerators and delivery methodology brought in best practice processes for efficiency savings in a very short time. The retailer now has a real foundation for growth and innovation.
Inspiring mid-market companies share digital transformation learnings
They say that fortune favours the bold. Over the last 18 months, I have seen countless examples of this from our mid-market customers in the UK and Ireland. Many SMEs are still unsure about investing in their business systems, even as we seem to be emerging from the worst of the global crisis.
It’s completely understandable to be cautious, but there can be more risk from inaction than from taking steps to do things differently. Change has never been so fast. Companies that are slow to transform with the times risk being left behind by bolder competitors.
Hear directly from these companies and others at the virtual SAP UKI Midmarket Summit October 21, 2021