Inception of Systems, Applications & Products (SAP) company dates back to 1972, when five former IBM employees wanted to create a conventional application software model for real-time business processing. Claus Wellenreuther, Dietmar Hopp, Hans-Werner Hector, Hasso Plattner and Klaus Tschira together devised an integrated model – SAP, that practically covers every aspect of business functionality. Till date, the German software titan SAP, has delivered a diverse range of business solutions to hundreds and thousands of companies all around the globe.
SAP is the predominant platform in the Enterprise Resource Planning (ERP) market. The arch rivals of SAP, who provide alternative foundational technologies for enterprises are Microsoft, Oracle, SalesForce, Infor Orbis, and Epicor, etc. The heavyweight business intelligence tool offers a unified and stable ecosystem of ERP products at a premium price. It presents end-to-end solutions through a variety of its modules such as accounting, logistics, human resources and technology.
In the recent years, the pushing technology has revolutionized the entire business landscape. With companies ready to adopt digital trends such as Cloud, IoT, machine learning, AI and blockchain, the future of ERP looks extremely promising. Following are a few SAP trends that can metamorphose and enhance the future of business management tool.
- Cloud Computing
With each passing day, the Cloud Computing technology and its importance in the business world is skyrocketing. SAP is trying to shift its target customers to the Cloud, from its on-premise framework. This strategic innovation is seen in SAP’s new flagship product, SAP S/4HANA. What Cloud offers to its customers, is easy accessibility, agile flexibility and data storage security. In addition, the Cloud based solutions are instantaneously implementable and compatible at low investment budgets. Therefore, Cloud Computing is proving to be a go getter and trend setting technology, which is largely responsible for the explosive industrial change.
By 2027, it is estimated by the World Economic Forum, that there will a 10% rise in GDP because of blockchain technology. The trusted computing technology has arrived to offer secured monetary transactions globally. Possessing a farsighted vision of the future, SAP offers BaaS (Blockchain as a Service), focusing primarily on four major areas such as supply chain, public sector, energy utilities, and financial services. With a secure money transaction possible within 20 seconds anywhere in the world, Blockchain assisted monetary exchange is the smartest way to do business. This enhanced real-time technology allows valid transfer of data across diverse sites and locations. Hence, SAP driven blockchain technology can prove to be supremely beneficial for the future of industrial sector.
- Digitized Business Operations
Acknowledging the value of digital technology, SAP has introduced SAP Cloud Platform that connects absolutely everything of the value chain. These digital processes function beyond the horizontal and vertical limits of integration. Hence, over the years of rapid growth open platforms and standards have become a significant part of the modernistic ERP sector. It enables opportunities for trusted collaborations with business partners to fulfil the requirements of target customers. SAP itself, has become a part of this co-innovation scenario with partnerships with Apple, Microsoft, IBM and Google. These chances of concept exchanges in turn upgrade the company’s growth with regard to revenue generation and solid service portfolio.
- Self-Progressing Mobile Technology
One of the major rewards that information technology has bestowed upon the mankind is the easy accessibility and 24/7 availability through mobile devices. This reward has made businesses, companies and world economies reach new highs. Fiori UX, Lumira and Screen Personas developed by SAP, offer a user friendly, app based features that are similar to any mobile or a tablet.
- Machine & Deep Learning through Artificial Intelligence
Machine learning (governed by statistics & rules) and deep learning or self-learning (based on qualified data) all through AI has the potential to fire up the conventional business model. The German based smart tool provider company is currently working over the deep learning algorithms that can give an edge to the businesses.
- World Of Fast Food & Fast Technology
Automation is the key to the rapid progression and the elevation of the economy. In order to keep the momentum in the modern industry, persistent outcome driven workforce has become a necessity. The team at SAP is brain storming over ideas and concepts that will result in staying ahead in the tech competition.
- Technology Amalgamation
As the famous American politician, Emanuel Cleaver quotes, “There is more power in unity than division.” This also applies to the diverse technologies such as Cloud, AI, Blockchain, IoT and robotics. When together interconnected in a solid chain, these technologies can create a volcanic eruption of advancements and developments in every sector. Recognizing this combinatorial approach of digital technologies, SAP is also working on the similar lines.
Over the years, enterprise market has witnessed many trends and technology cults, offered by various companies. However, SAP has maintained its status quo as the leading platform of providing ERP based solutions and services. It remains, therefore, to be seen in the coming future, as how further it introduces latest softwares and tools designed on the above fusion of technologies.