SAP has announced a new product called the Digital Boardroom. Think about it as an analytics dashboard where you can access your business’ reporting papers, financials, HR figures and more via an interactive, real-time system.
Previously, reporting teams would gather information for a board meeting 30-40 days prior to the date of meeting, ready to present the company’s current state of affairs. By the time the meeting would commence that information is already out of date, and decisions would be made on old data.
Using the company’s Cloud for Analytics solution, SAP’s Digital Boardroom has the ability to pull real-time analytics on the company, and drill down into it until you get the answer you need. Questions can now be answered on the spot and decision-making is sped up.
In the same way, it uses predictive analytics, answering the “what if” questions with actual company statistics rather than opinions.
“It allows you to look at your past, understand the present and most importantly, predict the future by simulating a future scenario using real-time data from your company,” says Scott Russell, COO of SAP Asia Pacific Japan. “Adjustments can be made to every part of the business, decision making becomes easier and quicker.”
By simplifying the boardroom process, says Russell, employees can now work on value adding opportunities rather than preparing for the meetings.
“As businesses continue to transform and evolve around the digital economy, executives will be able to use SAP Digital Boardroom for instant, data-driven insights that address ad hoc questions and improve decision-making,” Bernd Leukert, member of the Executive Board of SAP SE, Products & Innovation says.
“It will ultimately build trust between all board participants, employees and investors.”
The author traveled to Singapore as a guest of SAP.
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