SAP Continuing to Help Businesses Mitigate Risk and Ensure Project Profitability
To help companies manage project-based businesses, SAP AG (NYSE: SAP) recently announced the SAP® Commercial Project Management application. Leveraging existing capabilities of SAP® Business Suite software, this new application includes coverage of the lead-to-cash scenario for projects, beginning with selling a project through planning and delivery. SAP Commercial Project Management blends project related front-end and back-end information into one integrated system and makes it readily available to project managers, administrators and executives.
According to recent performance benchmarking from SAP, more than 70 percent of companies have only limited capability to track project risks from identification to resolution stage, in collaboration with subcontractors and customers. SAP Commercial Project Management addresses this issue by (a) allowing users to manage the project value chain end-to-end and (b) helping companies increase project profitability as well as and improving employee productivity. The application allows creating optimal bids by leveraging (a) information from past projects as well as (b) best practices in order to derive bids that are both profitable and competitive. Further, it supports stringent issue and change management processes and their impact on project cost and revenues. SAP Commercial Project Management offers one cohesive view into all project aspects so as to help amplify project control, mitigate risks and take the best actions.
“While a high percentage of project profitability is determined at the bid stage, around half of all projects are not delivered to plan “” in fact, on average 20 percent of project value is at risk,” said Chakib Bouhdary, executive vice president, Global Industry Solutions and Customer Value, SAP. Further, he said, “SAP Commercial Project Management enables professional services, engineering, construction and operations and other project-based industries to reinvent the way they sell and deliver their services by offering full transparency throughout the project life cycle while helping ensure project profitability.”
SAP Commercial Project Management is an extension to SAP Business Suite and contains three packages: project workspace, project cost and revenue planning and project issue and change management. The application (a) runs on the SAP HANA® platform, (b) is mobile-enabled and (c) can be used by companies selling and delivering projects to customers as well as those running internal projects. Additional mobile apps are also made available by partners. SAP partner Mindtree offers mInspect, a mobile app that supports the issue management component of SAP Commercial Project Management, and mWorkspace, a mobile app that provides key information to project managers.
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