In the digital economy, people, businesses and “things” are becoming more and more connected. In April we were at SAP Innovation Summit for SMEs 2018, a SAP event for the SAP Business One partners ecosystem, introducing new trends in business technology. Our company participated in this yearly event, to check the technological trends and how it could be used by our clients in Romania.
This year, the buzzword of all sessions was digital transformation.
Digital business is built on new computing infrastructures – mobility poles, cloud, Big Data and Analytics, accelerated by Internet of Things, machine learning and innovations such as blockchain.
These revolutionary technologies allow companies to change their business models fast and create new products and services. SAP has created in Business One a digital platform to support these components and to facilitate the digital transformation of over 60,000 customers, to provide the basis for the development of new high quality products and services.
A large majority of companies understand the importance of digital transformation, but only 3% have completed digital transformation projects within business processes, according to the SAP Digital Transformation Executive Study. Many companies have quite a lot of land to recover in important areas.
The commitment to digital will bring many benefits
In short: Only those companies that will bring innovative ideas to the game table will win in front of their competitors. Real-time information is a mandatory requirement for you to do that. However, many companies do not capitalize on the large amount of data they have. To turn your data into decisions and action, you need to make sure that users have all the information available to understand what’s going on in business. In order to execute a series of quick actions, companies need the correct methodology for the digital foundation.
SAP Business One powered by SAP HANA
In 2014, SAP Business One became the first ERP platform for small and medium businesses available on the SAP HANA in-memory computing platform. With SAP Business One powered by SAP HANA, companies can analyze massive volumes of structured or unstructured data in seconds instead of days. And they can use analyzes to find new insights into the business they run.
The analysis solutions included in the SAP Business One application, which incorporates machine learning technology, can help you find quick and accurate results, and implement new processes and applications based on that information.
Machine Learning and Artificial Intelligence
For SAP, artificial intelligence is not just a marketing phrase, and there are already a number of standard or 3rd party practical applications tailored to SAP Business One powered by SAP HANA:
- Sales recommendations based on customer history and similar customers
- Smart Forecast: Predictive algorithms to analyze inventory level and optimize inventory
- Facial recognition used in the retail area to inform companies about demographic and behavioral details of their customers in real time to provide them with the best product packages
- A Chinese farm uses artificial intelligence to check the health of the hens through an application that uses auditory and machine learning samples, the application manages to have a 92% accuracy in the detection of diseased birds
Internet of Things
Internet of Things is a network of physical objects – cars, vehicles, home appliances that use sensors and APIs to connect and exchange information between them.
One of the main benefits of IoT is the performance it provides. Many companies use them to automate manufacturing processes, monitor various activities, optimize the flow of supplies, and control operations.
There are a number of third party applications, based on SAP Business One powered by SAP HANA, Twitter App, integration with Alexa, integration with Beacon devices.
SAP Business One powered by SAP HANA is like a digital hub in a digital economy. It is a digital transformation platform that integrates applications and devices, IoT sensors and equipment, mobile applications, e-commerce and social media, chatbots, and digital assistants such as Alexa or Google Home.