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Clearing The Way For Faster, Smarter Decisions
businesses midsize companies is also known as :
Powerful Business Software,
Optimizing Business Benefits Midsize Companies,
Solutions Midsize Companies,
Midsize Company Resources,
Tips Midsize Companies,
Web Technology,
E-Business,
Business Management,
Grow Business,
Midsize Business Centre,
Business Intelligence Solutions,
Information Technology,
Businesses Midsize Companies ,
IT.
INSTANT, ACCURATE INFORMATION DRIVES COMPETITIVE EDGE
BUSINESS IS ALL ABOUT DECISIONS
Every business leader is well aware of how crucial it can
be to make the right decision at the right moment. In today's
hypercompetitive markets, small businesses and midsize
companies face daily, even hourly, challenges to make the
right call fast: If we fulfill this rush order, will we jeopardize
that other contract? If we put more workers on this job,
will we still make our slim margin? Long-term strategic deci-
sions can be even harder: Which products and services
will take us forward? Which customers and markets are
truly profitable? Where do we go from here?
To make timely, well-informed decisions,
you need just that: time and information.
This means having fast access to
accurate information from every depart-
ment in your company, and time away
from fighting fires to focus on priorities,
problem solving, and market opportunities.
This paper will examine how you can
gain reliable, accessible information
from efficient, integrated IT systems '
and use that information to make faster,
smarter decisions. In turn, the right
decisions will lead to better operations
and a stronger competitive position.
DECISION BY GUESSTIMATION?
In current business environments,
there's little margin for error. Companies
simply can't afford to bet their future
on guesstimation or gut feel in the fast-
moving marketplace. Enterprises that
make smart and timely decisions based
on solid insights and accurate informa-
tion can distinguish themselves from
the competitive pack.
Consider these everyday quandaries
and how the right or wrong choices can
affect the bottom line:
- It's the holiday season and you are
taking another big order. Are you
sure that you have the capacity to
handle it, or are you simply
guesstimating?
- You're bidding on a project from a
new prospect. Do you have the facts
about costs and assets to ensure
that you bid competitively, but not so
low that you end up losing money?
- You're considering a substantial
capital investment in new machinery
to support a business expansion.
What information about past and
projected performance will help you
decide whether to make the invest-
ment ' and can you access that
information?
In each of these cases, an ad hoc gut
judgment could lead to an unprofitable
bid, a dissatisfied customer, a lost
oppor tunity, or another misstep. The
right call, however, could improve the
company's competitive position. Clearly,
you need to base decisions on facts
and analysis, but obstacles common to
many small and midsize companies can
block the way.
ROADBLOCKS TO FAST,INFORMED DECISIONS
Let's face it. Many businesses today
still rely heavily on manual and paper-
based processes. When information
you need is locked in someone's file
cabinet or even in people's heads, it
can be hard to make the right decision.
Then there is information clutter ' data
that's plentiful but hard to access.
Chances are your company relies on a
jumble of accounting software, spread-
sheets, or one-off reports, or on a set
of nonintegrated databases that don't
share even basic data like customer
contacts or product codes. Valuable
nuggets such as sales, orders, sched-
ules, and invoices are hidden among
these disconnected, inconsistent sys-
tems. Without the ability to quickly and
easily pull relevant, reliable, and consis-
tent data from disparate sources, by
the time you can finally make a decision
the business opportunity is long gone.
Plus, there is the matter of time. Just
when you finally find a minute to plan
your business's next big step, an urgent
phone call ends the precious planning
session once again. In fact, a recent
SAP® study finds that small business
owners cite their number one challenge
as: "Don't have enough time to make
important decisions."
THE PATH TO DECISIVE ACTION
Decisive action is fueled by information
clarity and visibility throughout opera-
tions. Many small and midsize compa-
nies today are adopting proven best
practices to help them make faster and
smarter decisions.
First, keep all critical business informa-
tion in one place by deploying an inte-
grated business management system
that spans all business operations. This
synthesis lets you see the whole picture
and endow all players in the organization
with one version of the truth. In addition,
automated, integrated processes are
faster and more streamlined, eliminating
duplicate entries and making data more
up-to-date and accessible.
Moreover, make sure that business
users are provided with easy and flexible
reporting tools, so truly informed deci-
sions don't rely on IT for one-off special
reports. Instead of scrambling to piece
together outdated information in reactive
crisis-management mode, you can make
proactive decisions based on visibility
into every department, into past perfor-
mance, and into future projections.
Information visibility enables both big-
picture strategic thinking and fast-action
tactical savvy.
Most important, cultivate buy-in from
the people who must fully embrace the
technology. While integrated business
management systems can counteract
human-error pitfalls, they are only as
good as the people who will adopt and
use them. With limited resources and IT
expertise, small and midsize business-
es must pay special attention to the hu-
man factor. Staff training and easy-to-
use technology can avoid the "garbage
in/garbage out" syndrome that bedevils
so many disconnected manual systems
BETTER DECISIONS LEAD TO GREATER PRODUCTIVITY
Improvements beget improvements:
efficient, integrated, streamlined infor-
mation systems fuel timely, informed
decisions ' and better decisions make
the full range of business processes
more efficient and productive. By im-
plementing comprehensive business
software, you can drive immediate
improvements in operational efficiency
and standardization. Stronger decision-
making abilities enable businesses to:
- Seize the right opportunities and
align resources and investments '
Using accurate sales, materials,
inventory, and cost data, businesses
can focus on the most profitable
products, customers, partners, and
channels, and manage resources
accordingly.
- Boost productivity across the
organization ' Information visibility
helps everybody make the right
moves ' faster.
- Manage customer needs and service
requirements ' Balance customers'
value with the costs of meeting their
demands, so you can focus on the
most profitable customers.
- Minimize risks and carry out fast
course corrections ' By focusing
on the right priorities, you put less
money and resources at risk on
activities with potentially low return
on investment.
- Shift focus away from operational
snags and onto high-value strategy '
When you have higher process
efficiency, you can take the time
to stop, think, and commit to a
well-informed course of action.
Summary
The SAP portfolio of comprehensive,
integrated business solutions, designed
specifically for small businesses and
midsize companies, delivers the instant
and unified business information
you need for superior operations
and decisive leadership.
Decisive actions can elevate your
business above the competition and
help your company grow and stabilize.
But decisive leadership requires accu-
rate, timely, and accessible information,
along with the right software tools:
easy-to-use, flexible reports and
analytics.
SAP® Solutions for Small Businesses and Midsize Companies
When it comes to the widely varying
needs of small and midsize business-
es, one solution certainly doesn't fit
all. SAP offers a portfolio of flexible
and affordable business management
solutions designed specifically for the
fast-changing requirements of small
businesses and midsize companies.
By seamlessly integrating sales,
customers, financials, and operations,
SAP® solutions give you the cross-
company visibility you need to base
every decision on real-time informa-
tion. Armed with insight into every
aspect of your business, you can
easily monitor performance, eliminate
inefficiencies, and, most important,
identify profitable opportunities.
With a standardized, proven solution
platform from SAP at a predictable
cost, small and midsize businesses
can streamline operations, act on
instant and complete information,
and accelerate profitable growth.
Trusted by more than 25,000 small and
midsize customers around the world,
SAP offers the industry experience
and range of solutions necessary
to help companies stay ahead of the
competition and succeed.