The security monitoring industry has taken center stage in the past year as countries throughout the world battled a global pandemic and civil unrest. Both residential and business segments saw heightened demand for security solutions. To keep up, forward-thinking security providers raced to implement innovative technologies that create greater peace of mind and protection using the latest smart analytics, including face recognition, vehicle, and pet detection. However, to continue this growth, organizations must have a strong foundation built on financial efficiency and transparency.
Our recent customer, a global leader in security monitoring, consumer electronics, and security-centric solutions, encompasses a presence in over 40 countries spanning across 6 continents. With expansive amounts of data being housed in Excel in different locations, including multiple SQL servers, the Finance team needed a comprehensive solution to unify data and compile and report on insights across its multiple global locations to achieve a modern financial close. Implementing a connected platform would help this customer eliminate their core obstacles.
Understanding and Overcoming Business Challenges
Manual data entry and processing resulting in the consumption of extra human hours and increased errors
Disconnected financial processes prohibit real-time view of data and lack of meaningful insights
Limited user interface and self-service capabilities limit employees from collaboration
Increased translation risk due to limited currency translations
Data silos across channels caused by the usage of numerous applications
Limited access to the right data at the right time to forecast financial and operational performance
SAP Analytics Cloud to Streamline Financial Processes
To address the challenges posed by the ever-changing market, this smart security solutions provider turned to an all-encompassing cloud solution, SAP Analytics Cloud, to streamline its global activities, integrate its data across the entire organization for one single source of truth, and better forecast trends with faster, more accurate reporting and visualization.
By leveraging combined BI, augmented and predictive analytics, and planning capabilities of SAP Analytics Cloud, our customer is able to overcome its pivotal challenges while supporting critical business processes on their journey to innovation and digital transformation with holistic, end-to-end insight. By implementing SAC, the organization will benefit from:
Fluency across business units with pertinent data sharing and synchronized communication creating a unified voice.
Minimized errors with less reliance on manual data entry across multiple data sources.
Optimized visualization with more intuitive, granular report building.
Improved, Excel-like user experience with enhanced self-service and collaboration features across all business functions.
Better decision-making with business intelligence (BI) capabilities that allow employees to utilize the right information to act quickly, link practices to results, and drive innovation.
Reduction in workflow inefficiencies, redundant databases, and duplicate data entries.
Lower foreign exchange risk with access to multiple, automatic currency translations.
Accuracy forecasting profitability with complete visibility of key metrics such as the utilization of employees, job duration, and pricing of services.
Increased revenue by lowering overhead costs with automated workflows and lower maintenance cost of a single solution.
Scope of Project
Driving their initiatives of making every home and business a safe place through continuous innovation, our customer selected Analysis Prime to implement SAP Analytics Cloud for Bi and Planning. Through a time-tested, strategic approach, Analysis Prime will ensure granular blueprint and design, comprehensive testing and training, and the timely go-live of their SAC project, enabling our customer to:
Consolidate a fragmented Finance landscape
Automate laborious manual processes
Access a holistic view of the business
Increase its efficiencies
Why Analysis Prime
When your customers’ safety and peace of mind are at the forefront of your core mission, it’s critical to have a partner on your side who understands and demonstrates expertise and trust. Through an intricate discovery call and immersive live demonstration of the SAC solution, our customer realized the undeniable knowledge and understanding of the Analysis Prime team of not only the product but of the customer’s challenges and targeted business outcomes. Analysis Prime’s clear demonstration and strategy to fit the SAC solution into its business rather than fit the business into the software, will not only improve our customer’s efficiency and growth but cultivate a long-term strategic partnership that grows with future challenges and opportunities.
About Analysis Prime
No matter where you are in your SAP Analytics Cloud journey, Analysis Prime has a proven process that removes the guesswork from planning and implementation of a new solution as well as ongoing support for an existing platform, bringing customers faster and greater value on their investment. Experience SAP Analytics Cloud in a live demonstration and learn more about what makes Analysis Prime unique and why customers choose us time and again for their SAP Analytics Cloud needs.