How SAP Business ByDesign is revolutionizing the finance industry?

  • 30 November 2020
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SAP Business One partner

Digital disruption is redefining the finance industry and changing the way it functions. The finance industry needs to be risk-averse and ready to improve overall efficiencies and retain its competitive edge. With emerging technologies and shifting markets, finance leaders are seeking innovative and scalable ERP to reimagine their business model and manage it all. They are turning to SAP Business ByDesign to address a growing number of operational challenges which include regulatory compliance and reporting, cost management and refocusing staff from IT maintenance activities to higher-value work. 

Across the finance industry, businesses are basing their digital strategies on the cloud. The smart and next-gen ERP such as SAP Business ByDesign offers scalability, infrastructure efficiency, and smart pricing for finance leaders to stay agile and ahead of the curve, especially in the high-stakes financial industry. Many financial services firms are adopting managed cloud services as a way to ensure optimal function of their cloud ERP within a secure environment. Their reasons are clear: managed cloud services—especially with Uneecops helps them address their top business challenges, and realize some amazing benefits.

Modernize your finance department with SAP Business ByDesign

From purely a bookkeeper to being a decision-maker, the role of finance professionals has evolved. So, there is a reason why the finance industry must reimagine their business processes. From automating time-consuming tasks to reconciliation and compliance, SAP Business ByDesign stands apart in improving financial risks and lowering the overall cost.

Let us talk more about SAP Business ByDesign as how it appears to be the best friend of finance professionals.

Automate routine transactions and cumbersome tasks

Would you need excel sheets and spreadsheets if a single ERP can automate recurring financial tasks? SAP Business ByDesign helps businesses to stay agile, forecast better, enable more precise audits, comply with tax laws and regulations and deliver right-time insight to CFOs, financial professionals and stakeholders.

Minimize fraud risk 

In-built BI in cloud ERP helps businesses detect and investigate suspicious patterns. You can minimize the possibilities of risks and its repercussions. The ERP software built for mid-size businesses can auto-detect any fraudulent system entries and alert users. This reduces any fraud-induced losses by screening high volumes of transactions for any fraudulent activity and risks. 

Visible cost savings 

As a large amount of work is digitized, it guarantees major savings in time. As you automate financial transactions and processes, your employees can focus on other strategic tasks.

Run real-time insights and create ad-hoc reports

The ability to run real-time insights and create ad-hoc reports is a critical requirement for a business. SAP Business ByDesign automates and simplifies all financial processes such as cash management, expense management, asset management, collections, and so much more. With advanced capabilities like mobile applications and integrated BI solutions, the life of financial experts has eased down a little. 

Automate complex closing processes

Achieve a faster and more compliant financial close with an enterprise-ready ERP. Gain high visibility and simplify closing processes and ensure compliance checks to large transaction volumes. Automatic trigger remediations and manage all compliance checks for sales tax, VAT, GST, and other tax regulations.    

SAP Business ByDesign is a smart business solution that addresses the varied needs of the finance department which sets a new trend towards ease and innovation. Uneecops is one of the best SAP Business ByDesign implementation partners who can transform your finance department to lead in the new normal. 

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    Nidhi Batra

    About the author

    Nidhi Batra is a marketing and brand communication professional with 10 years of experience working in the dynamic B2B marketing environment. She strategizes, writes, reviews a variety of content for demand generation and sales support activities. Having a Master’s in English from Delhi University, she knows how to navigate her readers on insightful journeys with her SAP published blogs and thought leadership content.