Tag: business

Benefits Of SAP Finance In A Company

Flexibility

The system’s increased adaptability is a huge plus. This adaptability creates a dependable and practical single source of truth. S/4HANA The financial platform we use at SAP Finance Malaysia serves as our worldwide single source of truth since it is always up to date. By eliminating the need for time-consuming reconciliations, it allows us to maintain financial and managerial accounting in sync without having to resort to manual workarounds. We can transition from data sheet-centric planning and forecasting to business-centric planning and forecasting with financial steering that incorporates integrated planning, predictive forecasting, and simulation. This “reporting on the fly” functionality with all our attributes allows us to create new analyses and answer new inquiries quickly at the lowest granularity level of publishing.

Because of this, the system’s operational business users will be liberated, and our decision-making will change. With the Digital Boardroom, we have full access to our data and can use it to make predictions about the future. Pipeline, finance, human resources, opportunity, and customer relationship management all follow the same HANA-based principles. You may access all of your data from any device, at any time. This adds to a more objective discussion and saves time during meetings.

Throughput

The system’s throughput has also increased significantly. For example, we can drastically reduce processing time when we close a deal thanks to this. We have been able to close on a subsidiary level in 3 days and for the overall group in 8 days since transitioning to S/4HANA 3 years ago. According to the German Finance Magazine, SAP is the leader in rapid closing. Because of the earlier close, we’ll be able to begin making our next projection even sooner. As a result, we’re gaining more business intelligence faster than ever before. As a result, we become far more valuable – as well as valuable business associates.

With greater time for quality control and value-adding core analytic duties and decision support, our controllers have an added benefit. We’ve been able to delegate various reporting responsibilities to the lines of business as a result of this new capability to undertake simplified real-time reporting. Our FP&A staff can spend more time analyzing data and advising firms on performance improvements because they spend less time preparing reports.

Productivity of the End-User

Productivity and efficiency are the third significant change. We’ve made a significant improvement to the user interface using Fiori, making analytical and transactional applications much more efficient and user-friendly. This is a significant increase in production. Casual users will find it easy to use, while power users will find a wide range of features to work with. We use the SAP Cloud Platform for extensions.

S/4HANA‘s adaptability also saves employees time. Our account executives can leverage real-time data into cash collection patterns that may constitute a risk while managing working capital to come up with new payment arrangements with consumers.

Consider the ramifications of this for conducting business in highly turbulent conditions. We keep a close eye on the health of our receivables profile in order to identify problems before they become serious. We can then restrict payment terms or revenue cycles based on this knowledge and lessen the impact. Because the groups in charge of these processes had been operating in siloed environments, we can now support a level of collaboration that was before impossible.

September 29, 2021
Importance Of Building Your Brand Internally

Over time, the term “branding” has taken on numerous meanings: a distinctive design, symbol, or phrase; anything that is unique and serves to set one company apart from another. For the most part, it’s this notion of ‘individuality,’ which will come to signify a level of trustworthiness, quality, and consumer happiness over time.

Internal branding is all about integrating your company’s internal brand with your company’s exterior brand, and then demonstrating to your employees what that brand means to them and making sure they understand and live the company’s objective. Branding services in Malaysia are ever-so-ready in assisting you with internal or external branding.

In corporate terms, internal branding is making employees and customers aware of the firm’s core culture, identity, and concept. It usually aims to turn employees into “ambassadors” or true ambassadors of the company and its values.

Your company will be unable to establish a sense of purpose or identity if no clear direction is provided. Defining your organization’s objective and stating the beliefs or values that make you, “YOU,” will help you communicate to your staff exactly what is vital. Companies with a stronger sense of purpose outperform their competitors by 400 percent.

Having a mission and values offers your employees a feeling of purpose in their role, changing the perspective from “I’m doing a job to earn my wage” to “I’m contributing to something bigger.”

Your company’s internal brand is defined and fueled by your employees. As a result, involve them.

Choose those engaged employees who are well-positioned to become ‘brand ambassadors’ for the company, and assign them the task of communicating internal change and building internal brand equity for the organization. Employees are more likely to buy into enthusiasm about their business from their peers than when they receive top-down advice from the management; this generates a level of belief that employees advocate the brand because they believe in it – not because they have to.

If your external brand is well-defined, it will typically have its own logo and typeface, colour scheme, tone of voice, taglines, important messages, and overall look and feel. If your external brand has consistency, why not have it as well? Your internal brand will stay better if you have a recognisable identity that translates the ‘meaning’ of your company into the responsibilities your workers play every day.

You must link your internal and exterior brands while designing because this connection helps employees understand how the two are intertwined and maintains integrity. If your company’s message to its customers is one thing, but its message to its employees is quite another (e.g., “our number one priority is to be the biggest provider in the market by volume of customers”), this mismatch will lead to confusion and disillusionment with your company’s purpose and direction. Using the same ‘big ideas’ that are pushed in external advertising will not only resonate better with employees but can actually result in more distinctive and authentic external marketing.

The emotional connection between employees and the brand cannot be developed by means of internal memos and the occasional poster on the noticeboard for employees. A good launch of the brand is necessary to ensure that connection influences how your staff approaches their jobs and that your brand underpins every decision they make.

September 24, 2021
Tips To Modernise Your Business

In the cut-throat world of commerce, you need to adapt and modify yourself constantly to stay relevant. Instead of fighting to remain traditional as many suggest, attempt to revive your business by remaining true to your meaning, but adding some newness and modernity that can help keep your business afloat. Without the ability to adapt to conditions, expecting everything to adopt us, the businesses that we carry with sentimentality would not be available to us today.

Assess What Can Be Changed And What Can’t Be

This first step aims to analyse what can be altered to better suit the newness of the clientele and the customer base. This requires care. If your business has been relevant for years; decades even, letting go is hard. If your business is invested in music tapes– cassettes and VCR tapes– then you can also invest in records which are still very popular, among the youth and the elderly. This way, even if your cassettes do not sell like hot cakes, your records are sure to make a sum for your business to continue moving.

Consider Putting Your Business Online

Every business is online today. You can’t survive without an appropriate online presence. Therefore, investing in social media– Instagram, Twitter and Facebook– can help you find people who want to purchase what you are selling. The good thing about being online is that your business becomes global. There are people all over the world who still prefer to use cassettes and tapes as opposed to online streaming. Get their attention and build your customer base so that you can make more sales. Being online also gives you the chance to make your business able to accommodate ads which can generate money, too. A secondary source of income can be good for the business!

Save Your Information

With an SAP concur Malaysia, you can afford to have your store’s details and data safely secured. This includes transactions, sales and insurance details. It is important to keep physical copies, however, to increase the security of important details, having them on a portable cloud can make them accessible to you from anywhere. This gives you a better way of handling your business as files are kept safely online and can only be accessed by those who have the right details, like employees.

Modernizing your business in small ways can be very useful to not only keeping track of your details, but also enhancing your security and your interactions with customers. Keep your business authentic but youthful to attract a diverse pool of people interested in making purchases. Change is not the worst thing. It is inevitable. Adapting to it, however, is not so certain, and only the businesses and establishments that do so are able to properly handle the waves that come with modernisation.

September 22, 2021