SAP Solutions Are Digitally Transforming Asset Management

Find out how companies can use the SAP Asset Intelligence Network to improve their operations through collaboration.

SAP is one of the most used enterprise resource planning (ERP) software companies in the world. SAP supports a central hub for business operations spanning all departments. Everyone has access to common data to create a collaborative environment that benefits employees and customers.

SAP Asset Intelligence Network solutions contribute to the success of manufacturers, service providers, and asset operators by leveraging the internet of things (IoT). The growing number of smart devices in use puts asset management capabilities in people’s pockets. The innovations brought forth by the adoption of SAP provide the necessary network capabilities to enable insights. This leads to a proactive approach for asset management stakeholders.

Recent advances in technology that align with blockchain and digital currency have given way to a new era of analytics capabilities. SAP solutions are critical for businesses that want to stay at the top of their industry and increase their ability to predict market trends.

In addition to increased security and ongoing real-time analytics, these abilities are only the beginning of the next level of asset management. SAP opens up new possibilities for asset acquisition and management, improving how we process data, provide the highest quality insights in record time, and contribute to customer satisfaction.

This blog article will talk about how businesses can use the SAP Asset Intelligence Network to radically improve their operations through collaboration.

SAP Intelligence Creates New Possibilities for Asset Management

SAP can provide the most up-to-date insights to companies across the globe due to the proliferation of their business network. Partners can collaborate and stay updated as changes are made, sharing important data that affects all involved parties. This increases agility by improving reaction time when disruptions occur and allows businesses to find other companies within their supply chain network to mitigate issues.

“During this unprecedented year, the importance of the communities we’re part of has never been clearer,” said Christian Klein, chief executive officer of SAP. “Our new vision will build the world’s largest business community, enabling customers to easily connect with companies across supply chains and creating networked economies across industries.”

Their global SAP Asset Intelligence Network connects 5.5 million organizations and is transforming asset management by solving everyday challenges that businesses face. Balancing cost, assessing risk, and asset performance are processes that the intelligence provided by SAP can enhance and improve.

SAP Intelligence stretches throughout every aspect of business, from human resources to asset management. Companies can even use SAP robotic process automation (RPA) to perform tasks that free up employees to spend more of their productivity in other areas that increase revenue. The financial applications for RPAs are one of the keys to the transformation of digital asset management through SAP. The RPA services market is expected to reach more than $12 billion by 2023, as waves of investment in RPA predict the potential for even more growth.

Cutting Costs While Improving Reliability

The predictive maintenance capabilities of SAP management helps businesses to measure the reliability of their securities and leverage the value of their assets through predictive analytics. The value of both assets and securities provides the financial backbone of business operations. In the age of digital assets and securities, it is even more crucial that these numbers are backed up by data-based analytics.

SAP Intelligence and its ability to provide data connectivity across many companies and departments are through publicly distributed ledgers, which fall hand in hand with digital assets and digital securities. Although the terminology can be confusing, considering how new digital currency is in the business analytics world, the difference between digital assets and digital securities is similar to understanding traditional money.

A digital asset is the digital representation of a party’s ownership of value, such as currency or property. Digital security, or security token, is a digital representation of an asset that is also an owned security, such as a corporation or debt security share.

SAP Intelligent Data Processing Improves Quality of Insights

Machine learning has changed how the financial services sector processes data through its ability to constantly update its response to algorithms and produce real-time market insights. SAP Intelligence brings these advances in artificial intelligence to business by providing a practical solution to extensive data management.

Excessive amounts of irrelevant data hinder programs from providing accurate insights and can significantly increase processing time. The SAP models include a preprocessing algorithm that filters out unnecessary information, leading to better input data. When you have better input data, your output data is more effective and actionable.

SAP Asset Intelligence Network provides valuable insights held in a secure cloud platform containing a global register connecting multitudes of businesses in a centralized hub. The data available for companies to analyze and implement is organized and standardized so that business partners can seamlessly communicate via consistent definitions in real-time. This makes conducting trades and transactions smooth on all sides of the equation and provides a platform to perform these operations at top speed.

The Power of SAP Asset Intelligence

Aside from increasing revenue and accurately predicting changes in the market that affect a company’s assets, the goal is to provide business solutions that directly affect customer service. The machine learning implemented by SAP Intelligence can also predict customer behavior patterns and trends, improving sales and the overall customer experience.

Since SAP Asset Intelligence is centered on its ability to track and identify ownership of data, it is the most reliable way to store and analyze business data while also sharing and using it collaboratively and mutually beneficial. SAP Asset Intelligence is more than just analytics software. It encompasses a shift in business culture that can powerfully increase productivity. To learn more about SAP, visit our SAP insights page, where you can access SAP whitepapers, webinars, data sheets, and much more.