The SAP S/4 HANA is an Enterprise Resource Planning (ERP) business suite based on the SAP HANA in-memory database. The intelligent software is best suited for large enterprises helping them to streamline their financial transactions and real-time data analysis.
SAP released the intelligent ERP S/4 HANA way back in February 2015 and since then it has been fueling a wide spectrum of industries, transcending them to the next generation.
It also plays a pivotal role in personalizing the user experience of the users. In fact, this ERP platform has collaborated with various innovative technologies such as the Internet of Things (IoT), Big Data, Blockchain, Artificial Intelligence, and more.
Apart from that, if we glance at the stats, the total number of estimated S/4 HANA subscribers stood at around 8.9k in the second quarter of last year.
However, it will be quite interesting to note how the accelerated S/4 HANA has boosted the retail sector. We will have a brief discussion on this topic in the blog.
To begin with, SAP S/4 HANA has proved to be a game-changer for the retail sector business.
Streamlining the Inventory Management Process
SAP has gone one step further providing a complete solution to the retail industry. The entrepreneurs can use the combined benefits of SAP HANA and ERP business suite. The first advantage of this series is simplifying the inventory management process.
For example, it allows you to perform real-time data analytics so that you can make quick and more accurate decisions. You can get updated information on exact stock and inventory as well as, conduct a quality control check in a quick time.
You also have access to sales reports instantly and analyze the performance of each month depending on the results. You can analyze appropriately which products are performing well and one that needs a real push.
In fact, you can also remain abreast of the changing customer trends and the latest trends prevailing in the retail industry.
ERP software has initiated automation throughout the entire process, thus helping to reduce the cost of inventory management. You get all the up-to-date information in one place and therefore, save a lot of your precious time as well.
S/4 HANA Introduced Retail to Digital Transformation
We are all aware of the term digital transformation, which has become the catchword for almost every industry today. So, how can the retail sector lack behind in reaping its advantages?
However, if you want to maximize the bonus, you need to implement next-generation technologies such as the Internet of Things, Artificial Intelligence, and others to offer an unmatched experience to end customers.
SAP S/4 HANA accelerates the integration process to allow faster reporting to the management with more accurate and deep insights. Also, with technologies such as blockchain, augmented reality and virtual reality, customers have also received a plethora of benefits.
For instance, blockchain technology has enabled them to conduct transactions in a highly secure manner without the need for third-party applications. Similarly, AR and VR have enhanced their shopping experience by allowing them to explore virtual showrooms and products.
Encouraging Retail Business to Adopt Cloud Technology
SAP S/4 HANA has been encouraging retail business owners to adopt cloud technology. It enables them to utilize S/4 HANA through proper channels and they can even store humongous data in the cloud servers.
Role of SAP Fiori with S/4 HANA
S/4 HANA’s combination with SAP Fiori has been the icing on the cake for the retail industry. SAP Fiori is SAP’s vital tool that provides the customer-centric interface. You need to pay a lot of attention to improving your user interface for a seamless customer experience.
Take, for example, SAP Fiori offers a single-screen window interface where the customer can select the desired product and make payment for the same with ease.
On An Ending Note
SAP S/4 HANA is an optimum ERP software with tremendous potential to transform your retail business. It allows you to stay ahead in the competition and simplifies the business operation. You can integrate your business with cutting-edge technologies to curtail cost expenditure and get overall support.