How Can Professional Services Industry Benefit From SAP S/4HANA Cloud?

SAP S/4HANA CLOUD
Learn more about SAP S/4HANA Cloud for Professional Services industry.

How does digitization shape businesses?

The digital economy has been imposing extreme pressure on the professional services industry. Many firms are finding it hard to sustain themselves amidst competitive challenges. The new market participants have transformed the way businesses deliver their services. It has even forced industry professionals to develop better approaches or stagnate overall, with a permanent scar on margins and revenue growth.

Digitization works on four fundamental principles: talent, expertise, customer engagement, and service delivery. Every business must rethink how to structure its business models and drive growth.

We must acknowledge that digitization has led to a great level of transparency, uncovered service offerings, with technology like SAP S/4HANA Cloud for professional services.

It has reduced the barriers put forth by new competitors and improved the way they have been communicating with their customers. It also allows their businesses to level up their businesses in unimaginable ways.

iQuantM implements SAP S/4HANA Cloud integration for industry-specific functionality and best practices to cater to the professional services manufacturing, retail, and healthcare sectors. It provides pre-configured templates and processes tailored to specific industry requirements, accelerating implementation and reducing customisation efforts.

The best option would be SAP S/4HANA cloud implementation for professional services.

 

Why depend upon SAP S/4HANA Cloud for the professional service industry?

Digitization allows professional services firms to be at their best compared to previous times. Every firm must develop a digital vision with both competitive strategies to succeed. They should not forget to address new business models, offer knowledge as a service, and flexibly source resources via external talent networks.

To make this happen, every firm has to re-engineer all their business processes while evaluating if they have the best technology platform to deliver their vision. This platform needs an IT architecture that provides long-term reliability and stability to manage core enterprise processes. It also promotes flexibility in change-oriented areas.

iQuantM is the perfect SAP S/4HANA cloud implementation partner for professional services.

The Outline

The digital core is the basic feature where you can run flexibly and consistently. It offers real-time, uninterrupted analytics and transactions where you can converge Big Data and line-of-business connectivity extensions to support processes such as networks and talent sourcing.

With all these points in mind, SAP S/4HANA Cloud for Professional Services has entered the market with the motto of representing the digital core available in the “bimodal IT architecture.” It also offers professional services firms with a robust framework to go along with industry best practices. You can also attain operational excellence across various core engagement and financial management processes.

SAP S/4HANA Cloud for Professional Services
SAP S/4HANA Cloud for Professional Service

Top features of SAP S/4HANA Cloud for Professional Services

These are all the new intelligent capabilities you can witness in SAP S/4HANA Cloud:

Follow all your revenues

SAP S/4HANA Cloud has strongly improved the process efficiency of bank statements. Even when you cannot process your bank statement properly, you can use reprocessing rule functionality to define better rules for reprocessing your failed statements. It also reduces manual labour. With Finance innovation, you can make the most of Revenue Planning integrated into SAP S/4HANA Cloud solution to get a thorough plan on quantities, pricing, revenues, percentage deviations, profit, and loss.

Procurement Process Management

Multiple functionalities are available within the procurement and purchase element of SAP S/4HANA Cloud. A machine-learning-powered Intelligent Approval Workflow can help customers have a better influence on processes.

The process has been automated so that the SAP S/4HANA Cloud for Professional Services can learn which processes involve less dependence on requisition approvals based on supply source, pricing history and material group. Through this, the approver can focus on what is needed.

They have also introduced Situation Handling to manage submission deadlines for RFQ (Request for Quotation). This way, you would know when a deadline is approaching, and the finest SAP S/4HANA Cloud solutions would sort out the issues.

SAP Field Service Management

As for the release of SAP S/4HANA Cloud, you can collate service products, parts, and expense items as composite services. It would help you bill a particular customer while analysing revenues, costs, and profits for more bundled items through iQuantM SAP S/4HANA cloud implementation partner for professional services.

You can further integrate from SAP Field Service Management via API (Application Programme Interface). There is also a new contract type for usage-oriented billing. It paves the way for easier billing and revenue recognition with the help of the best SAP S/4HANA cloud implementation partner.

Better Insights on Quotations

With SAP Analytics Cloud integration, you can get better Sales functionalities. There is a new dashboard to help you analyse how successful the Sales process has been. It can also allow you to understand why the best has rejected the quotations with the help of SAP S/4HANA Cloud for Professional Services solutions.

Attractive UX

As for the release of SAP S/4HANA Cloud, we are here to welcome SAP Fiori 3. This user experience allows you to use the user-favourite “Quartz Light.” The user interface is also simplified with easy-to-use menu buttons.

Business Intelligence on the go

With embedded AI (Artificial Intelligence), you can get all the insights on notifications, analytics, tasks, and recommendations for better situation handling. You can get the best out of Digital assistants with conversational UI (User Interface) integrated into the user experience from an SAP S/4HANA Cloud for Professional Services. 

 

To sum it up

It is time for the professional service industry to wake up and choose more proactive Cloud ERP (Enterprise Resource Planning) solutions such as SAP S/4HANA Cloud for Professional Services.

Contact iQuantM, an SAP S/4HANA cloud service implementation partner, if you need it.

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