Special Olympics 2019 Success Story with SAP & Tyconz

The Special Olympics World Games 2019 was hosted in Abu Dhabi, United Arab Emirates in March 2019 for the first time in the Middle East & North Africa since the movement’s founding over 50 years ago.

The Crown Prince Court led the winning bid efforts with a mission to promote positive social change for people with intellectual disabilities and create a more inclusive society.

Special Olympics is the world’s largest humanitarian sporting event and a global movement which focuses on the empowerment of People of Determination with intellectual disabilities through the power of sport.

In collaboration with Tyconz and SAP, Special Olympics Abu Dhabi successfully installed a state-of-the-art SAP Digital Boardroom giving top decision-makers real-time, digital-enterprise insight into integrated line-of-business data from SAP and third-party applications. With SAP Digital Boardroom, Special Olympics Abu Dhabi were able to more readily monitor, simulate, and support changes to meet the expectations of their athletes. Here is their Success Story video.

Digitalist Flash Briefing: Transforming Corporate Banking With Intelligent Technologies

Bonnie D. Graham

Blog source: https://bit.ly/2YMTe43

Today’s briefing looks at how intelligent technologies can help banks survive challenges from customers and competitors.

  • Amazon Echo or Dot: Enable the “Digitalist” flash briefing skill, and ask Alexa to “play my flash briefings” on every business day.
  • Alexa on a mobile device:
    • Download the Amazon Alexa app: Select Skills, and search “Digitalist”. Then, select Digitalist, and click on the Enable button.
    • Download the Amazon app: Click on the microphone icon and say “Play my flash briefing.”
  • Other apps:  Alexa | iTunes |  Google Play |  TuneIn |  Stitcher |  VoiceAmerica

Find and listen to previous Flash Briefings on Digitalistmag.com.


About Bonnie D. Graham

Bonnie D. Graham is the creator, producer, and host/moderator of Game-Changers Radio series presented by SAP, bringing technology and business strategy discussions to a global audience. Listen to the series flagship, Coffee Break with Game-Changers.

Data Management Challenges For Financial Services

Karsten Egetoft

Blog source: https://bit.ly/2HHfaJD

Part 1 of the “Data Management For Financial Services” series

Unrelenting pressure from non-traditional players is driving financial services organizations to digitally transform themselves. To become data-driven enterprises, banks and insurance companies need to address three key data management trends: data volume, ubiquity, and user demands.

Mobile apps and devices generate massive volumes of data from new sources, such as images, audio, and video. Combined with new business models and actors in the value chain that increase the digitalization of financial services, this new data provides enterprises with opportunities to gain additional insight and value.

Today, data is everywhere. And financial services companies need to capture it all: customer information, financial transactions, product and service purchase histories, customer journeys, marketing campaigns, service inquiries, market feeds, social media streams, Internet of Things (IoT) streams, software logs, and text messages (including emails and SMS), plus those newer sources.

User demand for this data is rising. In today’s financial services enterprise, it’s important to recognize that every employee is really an analytics user who needs:

  • Decision support, allowing users to base decisions on empirical evidence rather than gut feelings
  • Trust in the security and accuracy of data
  • The ability to proactively anticipate and influence business outcomes by paying attention to new and increasingly forward-looking signals
  • Self-service access to data and easily usable analytics tools
  • Speed and intelligent information equivalent to what users experience with personal consumer technology

Impact of rising complexity

These expanding data sources and volumes create a new challenge: an increasingly complex enterprise data management landscape comprising hundreds of silos. It’s not unusual for firms to deploy multiple data lakes, data warehouses, operational applications, mobile apps, online apps, call centers, IoT sensors, and analytics solutions. Data can be located in hybrid environments, on-premises, and in the cloud.

To reduce complexity, companies need to combine their existing and new data into a single data universe. Universal data helps firms enhance visibility, delivering insights that can improve efficiency, automation, and growth. By converting data into insights, organizations can become intelligent enterprises.

For many financial services enterprises, however, a single data universe is still an aspiration. More often, data resides in multiple siloed environments (see Figure 1). Because data is not meaningfully connected across these silos, it has become less accessible – compromising insight into customers, partners, products, sales channels, and financial performance.

Figure 1. Siloed data environments

Worse yet, data silos often are reinforced by organizational silos. For example, the group managing the Hadoop data lakes are not the same people who manage the cloud storage. And too often, teams use different tools and rarely interact with one another.

To overcome the challenge of multiple data silos, financial services companies tend to build large enterprise data warehouses. The reality of rapidly changing, growing data sources means that traditional enterprise data warehouses can no longer keep up with the analytics needs of the business. Here are a few reasons why:

  • Solutions often cannot deliver real-time insights, as data capture and production of analytics are processed in batch.
  • Data typically is replicated across multiple data marts built for specific reporting purposes, reducing transparency and requiring time-consuming reconciliation efforts.
  • Solutions often cannot handle the growth of new data types.
  • Data linage is challenging when users have no insight into data origins or any transformations applied, including data replication and consolidation across multiple data marts.
  • Responding to business needs is slow and costly, especially considering the growing number of internal customers demanding new analytics and insights.

These challenges are further complicated by the increasing number of data consumption endpoints, the business processes and analytics solutions that require real-time data access to support decision-making.

A critical missing link

When considering data management challenges, financial services companies need to address two types of data:

  • Enterprise data – High-quality, structured data with clear governance, security concepts, and lifecycle management practices. It is typically captured in relational database management systems. Examples include customer information, contractual agreements, and financial transactions.
  • Big Data – Characterized by high volumes of semi-structured or unstructured data, such as text files (including emails, social media streams, or SMS messages) as well as image, audio, and video files. It is typically captured in data lakes such as Hadoop or cloud object storage systems, which are substantially cheaper than traditional database management systems. However, these platforms typically lack comparable enterprise governance, security, and lifecycle management.

Current data management landscapes often fail to create a link between the enterprise data and Big Data worlds. This makes it difficult to operationalize data science and derive the valuable benefits of data-driven analytics. As a result, users may struggle to search massive haystacks of data to find the hidden needles of actionable insights. This missing link also prevents organizations from delivering data-driven innovations, which are a core ingredient of digital transformation.

How can financial services organizations address this missing link and what should they look for in a modern data management platform? Read my next blog and the rest of the series to learn more.


Karsten Egetoft

About Karsten Egetoft

Karsten Egetoft is a senior solution architect of the Financial Services Industry Unit at SAP and a senior-level financial services professional and SAP veteran with over 20 years’ experience. He is globally responsible for driving the success of SAP data management solutions for financial services with a focus on the go-to-market and solution strategy. Karsten is an expert in data management technology and analytics use cases in financial services. He is based in SAP headquarters in Walldorf, Germany. Follow Karsten on Twitter @KarstenEgetoft and LinkedIn.




Data-Driven Analytics

Data-Driven Analytics: Practical Use Cases For Financial Services

Karsten Egetoft

Blog source: https://bit.ly/2HHfaJD

Part 3 of the “Data Management For Financial Services” series

By capturing and leveraging massive volumes of data, financial services companies can capitalize on new data-driven business opportunities. As discussed in my last blog, the first step toward realizing this goal is to create a solid data management foundation that supports the analysis of both enterprise data and Big Data.

Once this foundation is established, you can begin implementing machine learning algorithms to support automated decision-making and data-driven process optimization – helping you generate insights that create better customer experiences, improve operational efficiency, and drive sales (see Figure 1).

Figure 1. Preparing for data-driven analytics use cases

These insights can help you identify the best use cases for data-driven analytics within your business. Following are some of the most effective use cases deployed by financial services industry leaders.

Improve the customer experience and drive growth

Machine learning algorithms can enable the following customer-facing use cases:

  • Deliver personalized services based on customer profiles, using data on customer satisfaction, preferences, buying history, demographics, and behavior to better understand their needs. These insights can help you tailor products and services and deliver highly targeted, personalized offers that improve customer satisfaction and retention.
  • Recommend the next-best product to buy using deep insights to accurately cluster customers and prospects into segments according to their profiles and probable needs. Use these insights to develop cross-sell and up-sell opportunities, which can be triggered at the right time through the right channel.
  • Provide robo-advisor services to help customers with investment decisions by offering a peer-to-peer comparison or customer-specific portfolio advice. A robo-advisor can manage portfolios without human influence, basing investment decisions on algorithms developed from customer risk profiles.
  • Automate personal finance management, which gives customers a holistic view of their finances and provides forward-looking advice. Identify investment opportunities based on customer risk profiles and available funds, propose remortgaging a house loan, or use previous spending data to understand trends and encourage better customer savings habits.
  • Offer chatbots that address customer needs and inquiries, walk customers through process steps, provide predictive messages and behavior insights, and automate tasks such as money transfers or balance inquiries. Over time, chatbots collect behavioral data on users and learn the appropriate replies to user requests.

Optimize risk controls and business outcomes

The following use cases demonstrate how machine learning algorithms can help protect your business:

  • Provide early warning predictions using liability analysis to identify potential exposures prior to default. You can also work proactively with customers to manage their liabilities and limit bank exposure.
  • Predict risk of loan delinquency and recommend proactive maintenance strategies by segmenting delinquent borrowers and identifying self-cure customers. With this insight, banks can better tailor collection strategies and improve on-time payment rates.
  • Improve collection and recovery rates. To minimize delinquencies, credit card issuers can use account pattern-recognition technologies and develop contact guidelines and strategies for delinquent accounts.
  • Predict risk of churn for individual customers and recommend proactive retention strategies to improve customer loyalty. Identify at-risk customers and act quickly to retain them.
  • Detect financial crime such as fraud, money laundering, or counter-terrorism financing activities by identifying transaction anomalies or suspicious activities using transactional, customer, black-list, and geospatial data.

Automate business processes

Machine learning streamlines processes in the following use cases:

  • Algorithmic trading based on deep learning, high-performance computing, and geographical positioning can deliver subsecond timing advantages in automated trading.
  • Customer credit risk evaluation uses application and customer data for automated real-time credit decisions based on information such as age, income, address, guarantor, loan size, job experience, rating, and transaction history.
  • Customer complaint management uses data from various interaction channels to understand why customers complain, identify dissatisfied customers, find the root causes of problems, and rapidly respond to affected customers.
  • Inquiry response employs data from customer engagement channels to automatically route and respond to inquiries while spending fewer resources on manual tasks.

Improve operational efficiency

Machine learning can help you predict operational demand based on historic data and future events. With this insight, for example, you can anticipate call center traffic volumes or predict demand for cash at ATMs.

Self-service analytics for everyone

As financial services companies gain value from data-driven analytics, they must embrace self-service capabilities that put data in the hands of employees. Workers across all levels of the organization should be empowered to drill into the data, using self-service analytics to unleash innovation, create organizational enthusiasm for using data insights, and develop new ideas on monetizing existing data assets.

Data-driven analytics are key to the current and future competitiveness of financial service companies. We are just at the beginning of a wave of innovation based on data and powerful analytics, with much more to come.

Organizations that invest boldly in becoming more data-driven – by developing the right data management platform and a clear data analytics strategy − will be winners over the long term.

For more information on today’s data management challenges, read the first blog in this series. To learn more about a modern data management approach for financial services companies, read the second blog in this series.

Something your business needs?

Get in touch



Karsten Egetoft

About Karsten Egetoft

Karsten Egetoft is a senior solution architect of the Financial Services Industry Unit at SAP and a senior-level financial services professional and SAP veteran with over 20 years’ experience. He is globally responsible for driving the success of SAP data management solutions for financial services with a focus on the go-to-market and solution strategy. Karsten is an expert in data management technology and analytics use cases in financial services. He is based in SAP headquarters in Walldorf, Germany. Follow Karsten on Twitter @KarstenEgetoft and LinkedIn.




Unlocked – A New Chapter of Customer Experience

Experiences drive customer expectations, and brand perceptions. They can make or break an organization’s success.

Every organization needs tools to help them better understand the beliefs, emotions and intentions of their customers. However, to achieve breakthrough results, organizations need more than a system of record – they need a system of action designed to intelligently use both X, and O-data to improve customer experiences.

Together, SAP and Qualtrics will deliver a unique end-to-end experience and operational management system to power the economy. Combining Qualtrics’ experience data and insights with unparalleled operational data (O-data) from SAP software will enable customers to manage supply chains, networks, employees and core processes better.

This powerful customer experience platform will offer organizations the tools they need to build better experiences, better understand their customers and adapt to their rapidly changing expectations. Together, this will make it easier than ever for organizations to combine X- and O-Data, gain actionable insights at every step of the customer journey and deliver personalized customer experiences.

That’s why combining Qualtrics and SAP is so powerful. Organizations will now be able to listen, gain insights on what to do, evaluate the impact on the company, and most importantly, act to deliver unparalleled customer experiences.

  • SAP Qualtrics CX for Commerce
    • Organizations can now gather feedback across all digital interactions to provide premium experiences that increase conversion, loyalty and satisfaction.
  • SAP Qualtrics CX for Sales
    • Organizations can now assess the strength of their client relationships, improve the sales productivity of their Account Executives, and provide a premium sales experience.
  • SAP Qualtrics CX for Customer Service
    • Organizations can now design and deliver seamless service experiences to customers across every support channel including phone, chat, in-person, and digital
  • SAP Qualtrics CX for Marketing
    • Marketing teams can now collect feedback to better understand their customer segments, target audiences, and customer behavior.

Personalize customer experiences across your business with us!

Get in touch today




New Venture: Tatweer Educational Technologies ( TETCO )

Tatweer for Educational Technologies (TETCO) is a Limited Liability Saudi Company and is one of the Tatweer holding owned by the Saudi Public Investment Fund (PIF), and was registered at the Ministry of commerce and Investment in the year 2016.

TETCO is the technological arm of the Saudi Ministry of Education, offering high quality education and communication digital and technology solutions to the public and private sector.

TETCO aims at enhancing the Saudi education sector utilizing technology and digital transformation to keep pace with the local and international growth.

TETCO has the autonomous authority to achieve its ambitious goals.

Project

  • Enterprise Resource Planning System Implementation

Scope

  • Migrate the current SAP Solutions to TETCO collocated environment along with the Infrastructure managed services by February 2020
  • New implementation for SAP Success Factor
  • 1 year Managed Application support.
  • Upgrade the current system to the latest stable version.
  • Enable all system reports and analytics for all modules.
Analytics and BI

Why Have Analytics and BI Become Necessary for Competitive Advantage?

Data analytics is the qualitative and quantitative method and procedure practiced to improve efficiency and organizational outcome. Information is collected and organized to determine and study important data models and samples which differ based on the specific requirements of each company.

Nowadays, and especially in highly competitive industries, companies might have no choice other than to eat a piece of the pie from other competitors to enlarge their growth and market share. Business intelligence has already become a multi-billion-dollar industry. In the following years, business analytics will outstretch to almost every potential user, especially as we move deeper into the era of the Internet of Everything. So, what does all the complicated and time-consuming analysis of data have to offer to businesses? Beside the many benefits, the main value acquired from relying on business intelligence is gaining powerful decision making. Making smarter, faster, and well-rounded decisions.

Decrease Cost

BI is a clever investment especially in cases where companies are under the pressure of tight budgets and downturns. With a wider view of the company’s statistics, the opportunity to locate areas of waste is gained. To make the idea simpler, take personal trainers who aim to help their clients at the gym for example. They try to make sure that the client does the workout properly and does not use up energy that would not return the desired outcome. BI tools help identify these areas of waste, so costs are reduced for more important business activities. This includes the cost of the time spent in making decisions, organizing work plans, handling studying the past and present, as well as the financial aspect of the company. By cutting expenses and allocating resources more efficiently, the organization gains the ability to improve the company’s core and manage a more effective team with faster and better choices at the forefront.

Increase Revenue

If used properly, analytical insights can provide a wide array of important information that may allow a company to expand its revenue. The insights range from approaching the right customer at the right time, maximizing client loyalty, building solid personal interactions with users, study customer behavior, plus many other advantages depending on the type of business. Also, another important aspect is customer defection which help understand the reasons for customers preferring competitors. Sales managers rapidly discover the customers that are purchasing and what products are in decline. With BI, it is easy to visualize consumer spending patterns by observing purchases that take place daily, weekly, monthly, or annually.
Observing these insights highlights new sales opportunities, which can also drastically increase the effectiveness of cross-selling complementary products. A store may sell desktop computers and monitors. A customer may need to replace only the computer, but by bundling both products together at an attractive price point, an incentive to purchase the pair is offered. If a distributor finds that only computers are being sold to customers, it may be that other competitors are providing better deals on monitors from another supplier. So, in short, companies can identify sales opportunities better.

Predictive Analytics

Predictive analytics is the use of stored information and statistical algorithms to determine the chance of future results. The main goal is to go beyond knowing what has happened and provide the best assessment of what will happen in the future. If a company decides to go beyond plain analysis and delve into predictive analysis, it means that the organization is serious about its competitive edge. Most executives have solid knowledge of the overall shape of their organization. However, many find that after implementing a BI solution, new information is always discovered. Having all the data allows users to benefit from unidentified opportunities and to handle unrecognized problems before having serious impact. Predictive analysis provides a huge advantage because the company will no longer react to alternating market conditions after occurring but will predict these changes. In this case, revenues can be increased while simultaneously decreasing costs.

To Conclude

A game plan is required while moving towards the future. Whether it involves short-term goals that must be achieved or if it’s a long-term strategy that must be met, reliance on business intelligence can go a long way. Having the ability to view a company’s full information in a well-displayed, easily readable format gives the flexibility to make crucial choices with a lot more confidence than simply looking at old school spreadsheets.
Time is money and relying on business intelligence will lead the road to much quicker decisions and more informed choices. This allows management groups to hit maximum profits, while trimming expenses and acquiring a valuable understanding of the complicated financial dynamics that create an organization.

Don’t miss the next read!

Subscribe to our newsletter




sap concur implementation

SAP Concur | Concur’s Elite Team Brought to You by Tyconz

This blog will give you a brief look into the training my teammates and I did, to become the top concur implementers in the region. Let’s just say we endured the GI Jo training of the software industry, all to best cater to your needs, when it became time to deliver.

We are excited to announce that we have officially started with the implementation of SAP Concur, to help organizations manage their Travel and Expense. Over a year ago, 3 of our consultants acquired the SAP Concur Certified Implementation Partner (CIP) certification, which enables them to implement SAP Concur.

Malk Kanaan, Sunil Kumar Bethinedi and I – Andrew, underwent an intense 9 days’ workshop at SAP Dubai. The workshop was designed to train and prepare us to implement SAP Concur Expense module and to support our customers on launching the product. We were given 5 days to acquire the knowledge and skills to complete the basic configuration. And on the final day a lab assessment to test our knowledge of the product. I am happy to say that all 3 of us passed the exam!

SAP Concur can be implemented remotely, or customers can take advantage from customized implementation by choosing the Premium offering where a dedicated implementation team is available to you onsite to guide you through the whole project, meet your personal needs and support your user through an Instructor-led training.

Finally, because my company credit card is integrated with SAP Concur, I receive a notification for every transaction, and since my company requires receipts for every expense, I use my phone camera to capture the receipt, and have it automatically stored on my Concur portal and ready for processing.

In case you were asking what is concur and what is this consultant talking about?
Concur can provide Employee automated solutions which deliver benefit across three processes typically handled separately in most organizations today, they are as follows:

I am back at the office ready to file my expense report. According to a report by the Global Business Travel Association (GBTA), It will take on average 20 minutes to complete my expense report with:

Travel – An Online booking tool and automated process for booking Trips ( hotels and flights) this can also be used to control costs upfront by use of a Pre-Approval tool.

Expense – An Expense solution catered to handling all expense spend related to Per Diems, Cash advances, Petty Cash, Corporate Card, Cash claims.

Invoice – An Invoicing solution helping to provide OCR scanning of Invoices and workflow. The tool can also provide automated matching of Invoices to Purchase Orders to speed up manual tasks.

Interested?

Get in touch with our consultants and don’t hesitate to contact us. We are eager to work beside you and the best solution that fits your organization’s needs.




Tyconz, Winners of Best SuccessFactors Partner Award!

THE BEST SuccessFactors PARTNER

On the 16th of June 2019, TYCONZ was elected the winner of “THE BEST SuccessFactors PARTNER” at the SAP Partner Summit at V Hotel, Habtoor City Dubai, UAE.

Let us start by saying that this award is not and will never be an individual accomplishment. It is about what all of you did and how you contributed as a team.

This achievement would have never been attained if it wasn’t for the efforts of the SuccessFactors team.

The Young Professional Program

The SAP Training and Development Institute offers initiatives that empower rising talents on SAP’s innovations helping them kick-start their tech career within the ecosystem of SAP customers and partners.

The institute helps in the creation of sustainable work possibilities, ensures economic growth and supports SAP’s ongoing commitment to closing the digital skills gap.

The Young Professional Program (YPP) is a free initiative delivered by the SAP Training and Development Institute. The program is held for 3 months and is designed to give recent graduates the certifications and soft skills required to begin a career as an SAP Associate Consultant.

On Wednesday the 29th of May 2019, Tyconz team attended and the YPP graduation ceremony where they picked the top 10 graduates and offered them a well-deserved job at their esteemed company.

You too can join the YPP program by applying here: https://bit.ly/2QyPdg5

Request a Personalized Demo of our Solutions

We look forward to showing you how our trusted solutions allows you to improve your business.

Can’t Get Enough?

Subscribe to our monthly newsletter and stay updated!