Every midsize business has a desire, a quest, a hunger for exponential growth. They see multinational corporations scaling new heights and yearn to achieve similar success. In their quest, they often implement various systems and processes, hoping for a “Midas touch” effect.
Let’s illustrate this with an example:
Imagine a midsize retail company struggling to identify and tap potential buyers, particularly from leading brands. They try various ‘midas touch’ platforms, processes and channels to target different sets of buyer personae. But nothing works.
In the fiercely competitive retail landscape, knowing which market segments hold the “true gold” for their business is crucial.
Do you relate? How do you find true ‘value’ buyers and grip the attention of customers who are constantly wowed by big boy league brands? By using the right set of tools and tech with artificial intelligence, midsize companies can cross the chasm of success.
What’s Happening Right Now?
The current business landscape presents unique challenges for midsize companies striving to stay competitive. They often face resource constraints, limited access to advanced technologies, and intense competition from larger corporations. To overcome these challenges and drive growth, midsize companies need innovative solutions like artificial intelligence. AI can help them leapfrog the competition by enhancing operational efficiency, improving decision-making processes, and enabling them to deliver personalized customer experiences. By embracing AI early on, midsize companies can position themselves as industry leaders and create a sustainable path for future success.
AI: Transforming Midsize Company Dreams into Gold Mines
As per SAP sponsored Oxford Economics research, AI has emerged as a powerful tool for midsize companies to level the playing field. The study reveals that over half of surveyed organizations plan to adopt AI within the next year, with roughly 25% already reaping its benefits. These companies see AI’s biggest future advantages in:
- Designing and launching new products and services
- Personalizing or automating marketing and sales processes
- Scaling existing operations using AI’s predictive and forecasting capabilities
The findings suggest that artificial intelligence can bridge the knowledge gap for midsize businesses. Like their larger competitors, midsize companies can leverage AI to achieve:
- Personalized marketing: AI can analyze customer behavior, predict needs, and provide hyper-personalized experiences that truly impress.
- Efficient operations: AI automates routine tsks in customer service, inventory management, and accounting, freeing up resources and streamlining operations based on real-time insights.
- Enhanced customer service: This allows for faster response times and a more impressive customer experience – all at a lower cost.
AI is the intelligence needed to become a truly intelligent enterprise. We mean, no longer do midsize companies have to gaze enviously at industry giants. With AI as their ally, they can catch up and even gain a competitive edge through personalized marketing, efficient operations, and lightning-fast innovations.
Midsize companies Get Treasure Trove of Predictive and Forecasting Capabilites
Unlike complex enterprise-level solutions, AI solutions designed for midsize companies are scalable, meaning they can grow alongside your business. They are also cost-effective, making AI an accessible and strategically valuable investment.
Midsize companies can unlock a treasure trove of predictive and forecasting capabilities with AI. These insights can be used to:
- Deliver personalized product recommendations: AI can analyze customer data to recommend products based on individual preferences and buying habits.
- Tailor communication: AI can optimize marketing messages and predict which channels are most effective for reaching specific customer segments.
- Streamline operations: AI can predict demand fluctuations, optimize inventory levels, and even forecast potential equipment failures, enabling proactive maintenance.
AI can decipher human behavior, predict needs, and deliver experiences that make customers go, “Wow!” As for a business solution, it is sure to make midsize firms also amazed. From wandering to wondering to wowing, the tool is every fast-growing enterprise’s ultimate calling.
The Power of Integrated Platforms – SAP & Salesforce
Many midsize companies already utilize platforms like SAP for enterprise resource planning (ERP) and Salesforce for customer relationship management (CRM). These platforms are increasingly incorporating built-in AI capabilities. By leveraging these features, midsize companies can streamline AI adoption and extract even greater value:
SAP with Built-In AI:
- SAP S/4HANA Cloud: SAP S/4HANA Cloud, combined with artificial intelligence (AI), is revolutionizing how businesses operate, making them more agile, efficient, and intelligent. By integrating AI capabilities into SAP S/4HANA Cloud, companies can unlock new levels of productivity, innovation, and customer satisfaction.
- SAP Leonardo: This open innovation platform provides AI-powered tools for predictive maintenance, supply chain optimization, and automated workflows, all seamlessly integrated with your existing SAP S/4HANA Cloud data.
- SAP Analytics Cloud: This suite offers AI-powered tools for data exploration, self-service analytics, and real-time business intelligence, empowering you to make data-driven decisions across your organization.
- Grow with SAP: For midsize companies on a high-growth trajectory, consider the recently announced Grow with SAP program specifically designed for scaleups. This program offers a comprehensive package of:
- Latest SAP Cloud Solutions: Gain access to cutting-edge SAP solutions like S/4HANA Cloud, pre-configured for the needs of scaleups.
- Fast Implementation: Benefit from rapid deployment services to get you up and running with AI-powered solutions quickly.
- Expert Guidance: Receive dedicated support from SAP specialists to ensure a smooth transition and maximize the value of your investment.
Salesforce Einstein
This AI suite offers features like lead scoring, predictive analytics, and automated sales forecasting, helping midsize companies close more deals and improve customer relationships. Salesforce recently revealing AI adoption trends in India and a noteworthy highlight of the same is:
Businesses embrace AI to enhance operational efficiency to expand their services without compromising quality.
Source: https://smestreet.in/technology/salesforce-unveils-state-of-service-report-revealing-ai-adoption-trends-in-india-4538872 |
Tableau Pulse:
Tableau Pulse can transform complex data sets into clear, actionable visuals, allowing you to identify trends, monitor performance metrics, and make informed decisions at a glance. “It provides a natural language prompt to generate visualizations and it describes computations and can have your copilot generate the calculation,” shares Tableau CMO Elizabeth Maxson on Tableau democratizing analytics with AI-fueled features.
Future of AI
As AI matures, exciting new applications are on the horizon:
Generative AI
Generative AI helps leaders get work done faster and drive better business outcomes. Access to information is faster and productivity is multiplied. Sanket Highlights the importance of hyper-growth startups considering SAP + AI.
Our customers are not only using Gen AI to streamline and automate manual tasks but also transitioning to an era where they’re resolving customer issues through various channels and AI-powered bots that we have developed based on our technology. SAP’s philosophy revolves around integrating AI into the very fabric of the business applications our customers use. By doing so, we enable AI to address business challenges and aid in decision-making processes.
Sanket Deodhar, Vice President – Digital Natives and Startups, SAP India
Source: https://economictimes.indiatimes.com/tech/information-tech/innovators-start-up-and-scale-with-sap/articleshow/108300947.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst)
Hyperautomation
Combining AI with robotic process automation (RPA) will further automate routine tasks and streamline operations.
Explainable AI (XAI)
This technology will allow businesses to understand how AI reaches decisions, fostering trust and transparency.
SAP Joule
This innovative generative AI assistant is transforming user interaction with SAP applications. Integrated with solutions like S/4HANA Cloud and SuccessFactors, Joule allows users to ask questions and receive intelligent answers in natural language, streamlining workflows and boosting productivity.
With AI embedded, software’s are constantly adding new competencies to better enable digital transformation. In the coming years, offerings such as RISE with SAP, GROW with SAP, SAP Joule, Tableau Pulse and Salesforce Einstein will have helped customers accelerate innovation cycles.
For reducing implementation TAT, Uneecops is a partner of choice for SAP + Tableau + Salesforce.
At Uneecops, we are committed to helping our clients leverage the latest AI innovations. As the SAP APJ NO 1 partner, Tableau Gold Partner, and Salesforce Ridge Partner, we bring a wealth of experience and expertise to the table. Our goal is to empower midsize companies to harness the power of AI, SAP, and Salesforce integration to drive growth, efficiency, and innovation. With our support, midsize companies can transform their business operations and achieve new levels of success in today’s competitive landscape.
-Krishanu B. Singh, Head of Strategy at Uneecops
Eyeing the AI Horizon: Why Midsize Companies Should Set Their Sights on the ‘AI Gold’
Adopting AI early on as a midsize company offers several strategic advantages. Firstly, it allows midsize companies to establish a competitive edge by leveraging AI-driven insights and automation. Secondly, early adoption enables midsize companies to build a culture of innovation and adaptability, positioning them for long-term growth and scalability. Additionally, integrating AI into business processes early on can result in cost savings and improved profitability over time. Finally, by embracing AI early, midsize companies can attract top talent and investors who value forward-thinking and technology-driven approaches to business.
So, for all the midsize companies eyeing their precious success, take on real gold by establishing a sustainable business that spreads across geographies. The age of AI is long gone; now, real business AI is in your hands. Aim for it, achieve and ace with AI.
