{"id":2072,"date":"2021-06-11T01:35:21","date_gmt":"2021-06-11T01:35:21","guid":{"rendered":"https:\/\/news.sap.com\/sea\/?p=2072"},"modified":"2023-04-06T17:50:09","modified_gmt":"2023-04-06T17:50:09","slug":"rise-with-sap-for-modular-cloud-erp-a-new-way-of-working","status":"publish","type":"post","link":"https:\/\/news.sap.com\/sea\/2021\/06\/rise-with-sap-for-modular-cloud-erp-a-new-way-of-working\/","title":{"rendered":"RISE with 麻豆原创 for Modular Cloud ERP: A New Way of Working"},"content":{"rendered":"

Business transformation is a necessity. It was Heraclitus, the Greek Philosopher, who said \u201cThe only thing that is constant is change.\u201d Even though Heraclitus said this around 500 BC, his words are relevant even today\u2014and much more in business. What adds to the inevitable change is the speed at which things are changing.<\/p>\n

In the past, business was able to handle one or two simultaneous changes but looking into today\u2019s change management dashboard, it keeps evolving in different dimensions that results in more complexity to handle and adjust within the business.<\/p>\n

Such diverse business changes mandate business transformation to survive. Business leaders equipped with digital acumen have an even more strategic role to play for driving this transformation.<\/p>\n

Per the\u00a0Santa Fe Institute<\/a>, the average lifespan for a company is down to about 10 years before the company is bought, acquired, or liquidated. The companies that have been able to survive for decades have done it by being agile, flexible, cost-efficient, and innovative. Making both the right decisions at right time and business transformation at the right time are key.<\/p>\n

However, business transformation is easier said than done. It requires clear insights to your business and getting the right guidance to strengthen the integration among various business elements at each step of your business processes.<\/p>\n

Enterprises must be prepared to form new digital ecosystems and partnerships across industries, and to get into unexplored domains that can enhance their customer experience. To put this to context, IDC reported in 2019 that by 2025, 20% of revenue growth will come from \u201cwhitespace.\u201d<\/p>\n

Business Leaders in the Transformation Strategy<\/strong><\/h2>\n

Technology is the key to driving business transformation and business leaders must acknowledge this by bringing their IT and business strategy together.<\/p>\n

There are additional perspectives to be considered before business transformation is executed.<\/p>\n

The Right Time<\/strong><\/h2>\n

Leaders know they must identify risks and see around corners before disruptions occur, when there is still time to do something about future challenges. Data is an asset and a business leader\u2019s ability to use data is the skill for driving strategic decisions. This is why 59% of decision-makers are actively using data and analytics to define and shape their strategies.<\/p>\n

Connecting the Dots<\/strong><\/h2>\n

Good customer service is no longer a business differentiator; it is a business fundamental. Leaders know traditional system and organizational silos within their companies are holding back their businesses and overall customer experience. Seventy-nine percent of business leaders agree that the ability to connect processes across systems and ecosystems allows organizations to improve customer experience and streamline business operations and reduced total cost of ownership (TCO).<\/p>\n

Business Anticipation<\/strong><\/h2>\n

Leaders know that digital disruption is not something to watch out for; it\u2019s something to lead. This is why 72% say that rather than waiting to be disrupted by competitors, their organizations are actively disrupting their own sectors and processes. Being able to continuously invent new approaches and implement them rapidly through technology is essential to lead the race.<\/p>\n

By 2024, more than 50% of all IT spending will go toward digital transformation and innovation\u2014up from 31% in 2018 and growing at a compound annual rate of 17% as outlined by\u00a0IDC<\/a>\u00a0in October 2019<\/p>\n

Time to Reimagine ERP<\/strong><\/h2>\n

Over the last few years, the pace of business and innovation has accelerated dramatically. Legacy enterprise resource planning (ERP) has failed to satisfy the appetite for real-time information. The sad reality is that for almost every business, \u201cversion-lock\u201d is the Achilles heel of their on-premise ERP.<\/p>\n

Yesterday\u2019s ERP solution is not keeping up with today\u2019s business and technological demands. Take a look at some key business strategic priorities:<\/p>\n

Outcome-based engagements
\n<\/strong>According to the Future of\u00a0Jobs Report 2020<\/a>\u00a0by the\u00a0World Economic Forum<\/a>, 50% of human tasks will be automated by 2025:<\/p>\n