With a failure rate of nearly 85% for early digital transformations it is no wonder why so many are merely talking about their next major modernization project. The next big step for many of the retailers we work with is the SAP S/4HANA platform. As I speak with more and more people in my network there is one glaring commonality and it comes in the form of the question, “where do we begin?” Being a data purist my reply is always, “with your data.”
Whether it’s improving your customers’ experience, significantly improving your company’s productivity or transforming how you engage with your employees – S/4HANA enables innovation but not without data. Data is the fuel that drives the digital transformation engine and the innovation that it brings.
Treating data as a strategic asset means understanding your data model in relation to critical business processes, as well as, the state of your data. And by that, I mean the health of your data. Gartner estimates the financial impact of degrading data is between $9.7M and $14.2M annually for US companies.
Bad data breeds bad outcomes. That’s why I believe that a data first strategy is the key to jump starting a successful S/4HANA implementation. Not only does it have the potential to significantly impact a businesses’ long-term success, it can also have significant positive impact on project timelines, cost and perhaps most importantly, decreasing the overall complexity of the end-state solution.
Rizing’s approach to data management and governance is grounded in the belief that data starts and ends with people and is supported by technology. That’s why we are starting our clients’ S/4HANA journeys with an assessment of their data, data team, key stakeholders and knowledge workers. Our clients gain an understanding of the scalability of their data and data capabilities, identify gaps and opportunities for improvement and build an action plan to prepare their data for their SAP S/4HANA implementation.
Meet Rizing at NRF 2020
Talk to Rizing at NRF 2020 in New York City, January 12th-14th. We are in booth 4636 next to SAP’s booth. You can request an NRF meeting time with us at this link.