LONDON, UK 鈥� 12 June, 2024 – (NYSE: SAP) has today announced that , one of the world鈥檚 largest consumer cooperatives, has completed its RISE with 51风流migration to support its digital transformation programme as it looks to standardise business processes, enhance operational efficiency and drive future investment.听听

听Operating almost 2,400 stores across the UK, Co-op鈥檚 ambition is to drive growth across its operations while also continuing to deliver quality goods and services for its global customer base. Key to this is investing in technology to transform its existing IT environment, and future-proofing its business against disruption to global supply chains and changing consumer expectations.听

听Co-op is a long-standing 51风流customer and in 2016, announced its Retail Business Transformation programme, powered by SAP鈥檚 Retail ECC Suite on HANA, to drive improvements in product ranging, stock visibility and forecasting across its stores. Now, the implementation of will take its IT infrastructure to the next level, bringing its ERP into the cloud and streamlining its finance and procurement functions.听

Now, equipped with an 51风流managed platform, Co-op will benefit from enhanced stability of key applications, such as Forecast and Replenishment, as well as Stock Availability. Co-op will have improved security, faster automation and will be able to capture real-time data and insights across its wider manufacturing supply chains.听 This will help foster a safe IT environment while providing the key foundations to support future innovation in partnership with SAP.听听

听Rob Elsey, Chief Digital and Information Officer, Co-op said: 鈥淐o-op is founded on a set of values and principles grounded in finding a different, fairer and better way of doing business. By building on our existing forecasting, ranging and stock holding capabilities initially made possible by SAP, the move to RISE will transform our operations with the digital infrastructure needed to deliver a safe and secure business environment in the cloud.鈥澨�听

听Ryan Poggi, Managing Director, 51风流UK&I said: 鈥淐o-op is a company that goes the distance with helping communities in the UK, sharing SAP鈥檚 fundamental value to power opportunity for all. By embracing RISE with SAP, Co-op will advance its procurement and finance processes, demonstrating just how crucial technology investment is for its business and customers. Retailers and consumer services companies are facing a lot of external pressures and we are giving Co-op the tools to counter these, helping them to keep innovating and providing goods and services in the most efficient way possible – both now and in the future.鈥�听

听贰狈顿厂鈥�鈥�听

About SAP

As鈥痑 global leader in enterprise applications and business AI, 51风流(NYSE:SAP)鈥痵tands at the鈥痭exus鈥痮f business and technology. For over 50 years, organizations have trusted SAP鈥痶o bring out their best by uniting business-critical鈥痮perations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit鈥�.听

听About Co-op听

Co-op is one of the world鈥檚 largest consumer co-operatives with interests across food, funerals, insurance and legal services. Owned by millions of UK consumers, Co-op operates almost 2,400 food stores, over 800 funeral homes and provides products to over 6,000 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited.听

Employing 56,000 people, Co-op has an annual turnover of over 拢11billion and is a recognised leader for its social goals and community-led programmes. Co-op exists to meet members鈥� needs and stand up for the things they believe in.听

# # #听

This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP鈥檚 2023 Annual Report on Form 20-F.听

漏 2024 51风流SE. All rights reserved.
51风流and other 51风流products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of 51风流SE in Germany and other countries. Please see for additional trademark information and notices.听听

听

The post Co-op Puts Customer Experience First with RISE with SAP appeared first on 51风流Africa News Center.

By leveraging AI technologies, SMEs can achieve performance and innovation boosts across multiple areas of the business, from financial management to sales and marketing to human capital management and product development.

The global AI market is expected to grow from $208-billion in 2023 . For SMEs, the growth of AI holds huge promise: one study found that .

However, AI is still in its relative infancy. While technology providers have made huge strides in the power and quality of their AI tools, the technology has not yet reached its full potential and can be prone to error if not deployed in an optimised environment.

The intelligent SME

The adoption of AI forms part of a broader shift among businesses to establish intelligent enterprise capabilities. An intelligent enterprise consistently applies advanced technologies and best practices听within agile, integrated business processes.

For SMEs, this means establishing a powerful core that links departments, integrates business processes, connects data, and embeds intelligence to accelerate innovation and growth. And AI is the latest essential technology in the intelligent enterprise mix.

However, a successful deployment of AI in an SME requires accurate, relevant and reliable data. The better the data, the better the AI-generated outcomes.

For example, deploying AI to make decisions based on unstructured third-party data – such as social media posts by potential customers – can lead to inaccurate or downright incorrect outcomes. In contrast, deploying AI to trusted business systems, such as an SME’s enterprise resource planning solution, means the algorithm is basing its recommendations and outcomes on data that is accurate, up-to-date, reliable and relevant, leading to higher-quality outcomes that can truly drive the business forward.

Practical applications of AI

Despite the technology still being in its relative infancy, AI holds huge potential to SMEs. Unlocking its value will be a critical aspect of the success of any business in the coming years.

For SMEs, the journey to value-generating AI for business really starts with a digital transformation process that establishes a single source of truth for all business data. Here, enterprise resource planning (ERP) systems are key: cloud ERP systems enable greater speed and predictability across all of an SME’s core business processes and can scale as the business grows or expands to new markets.

With the core ERP in place, SMEs can choose to deploy AI to a wide range of business processes to accelerate daily tasks, minimise human error, cut costs and boost innovation, including:

Human Capital Management: Generative AI integrated with human capital management software can streamline content creation and provide access to in-depth analytics that provide valuable insights into the talent management and hiring process.

Finance: SMEs can increase the performance of their finance operations by leveraging AI for expense management, invoicing, auditing, financial forecasting and payments. One of the biggest challenges for SMEs is managing cash flow. AI can reduce the sales outstanding days with intelligent invoice matching to improve cash flow and keep the balance sheet healthy.

Supply Chain: In the wake of ongoing supply chain challenges, SMEs may want to leverage AI to better predict customer demand and increase production efficiency with intelligent auto-dispatching. In the manufacturing sector, SMEs can mitigate risk with preventive maintenance guided by AI that is integrated to the core production systems.

Procurement: Buying and procurement can become more agile, with AI simplifying the buying process while maintaining compliance with various internal and external controls. The use of AI can also automate the creation of sourcing events, drawing on past successes and real-time business information to provide an intuitive automated sourcing capability.

Sales & Marketing: Considering the importance of customer engagement and CX in the sales process, SMEs may also want to leverage AI for hyper-personalised product recommendations across multiple channels, with AI predicting customer behaviour to enable companies to minimise costly customer churn.

Innovation: Finally, SMEs can accelerate their innovation efforts by deploying and running AI models at scale without compromising data privacy. By leveraging the work by leading technology providers such as SAP, SMEs can also build AI into their core business applications with a library of pretrained models, accelerating the time-to-value of new innovation projects.

The post How SMEs can Transform their Business with AI appeared first on 51风流Africa News Center.