SMEs urged to embrace digital technologies
Small and medium enterprises ( SMEs) wanting to stay competitive should adopt tools in the emerging digital economy, multinational business software giant SAP said.
Ryan Poggi, SAP Philippines managing director said SMEs in other countries are becoming enthusiastic adopters of these digital tools that are driving growth in their businesses such as analytics and insights.
“Business leaders across the globe are acknowledging and understanding the importance of harnessing data in real time to drive meaningful insights to identify new opportunities and defend against new competition,” Poggi said in a press conference to launch SAP’s breakthrough digital application program Digital Boardroom Friday.
“It doesnt matter if you’re an SME or you’re large corporation. If you’re looking to remain relevant, if you’re looking to ensure that the foreign competition doesn’t come to eat your lunch, if you’re looking to ensure that you remain competitive, not only here in the Philippines, but as you expand both regionally and globally, these sorts of technologies become essential tools for businesses,” Poggi said.
“It becomes a question of not whether I can afford it but how can I not afford to not to afford it,” he said.
Poggi said they intend to offer their Digital Boardroom for Philippine SMEs to allow them to constantly monitor their key business metrics and spot new opportunities, while also keeping their organizations efficient and highly competitive.
The SAP Digital Boardroom is a planned breakthrough digital approach that aims to contextualize and simplify performance reporting across areas of business in real time. Built on the SAP’s Business Objects Cloud solution, Digital Boardroom is expected to utilize line- of- business data from the SAP S/ 4HANA suite and SAP HANA Cloud Platform to provide a single source of data about a company’s critical business metrics. This approach aims to help companies monitor and drive change in the digital economy.
“SAP Digital Boardroom gives senior management and C-Suite executives access to business data and analytics, allowing them to gauge their company’s standing in the market as compared to their competitors. Personal business information such as financial performance, customer count, supplier system and more can be viewed almost immediately with real-time content, which are needed for faster and better decision-making,” Poggi said.
“The essential business intelligence has already been embedded in the system for better and faster reporting as it provides a holistic 360 degree view on the company’s business position in the market. Using the Digital Boardroom to address challenges in the digital economy, company executives can obtain comprehensive data- driven insights answering ad hoc questions and simulate the impact of “what- if” scenarios to financials and operations,” Poggi explained.
“Overall, it simplifies the boardroom process in terms of time and effort, leveraging real- time analytics to allow companies to effect decisions and Run Live across their value chain.”
“The SAP Digital Boardroom will enable an interactive board discussion, and give these senior decision – makers a simplified boardroom process, by allowing board members to analyze large volumes of data, and identify business risks and opportunities in real- time. This is a true business advantage all C- Suite executives need in the fast-moving digital economy,” said Scott Russell, president and managing director of SAP Southeast Asia.
When required to make highly informed business decisions, board members, executives and decisionmakers are often faced with separate reporting solutions that present data in a static, isolated way.
SAP Digital Boardroom aims to harmonize the view of company operations across all lines of business on multiple devices.
This view enables users to understand the past, assist in predicting the future and conduct business successfully in today’s digital economy.