- SAP Spend Connect Live was organized a few weeks ago.
- Spend management and supply chain professionals across the globe were attended to learn, collaborate, and network after several years of disruption and uncertainty.
PepsiCo gives significance to the digital connectivity with its suppliers that SAP Business Network provides, enabling efficiency and precision that would be buried in manual processes. Due to digitalization, it can proactively address problems before they become major disruptions.
Van Genechten, a B2B supplier, cites the network’s scalability and real-time collaboration capabilities. It handles more data with the same number of people, while real-time collaboration builds buyer-supplier relationships.
It was completely meaningful to showcase an example of the importance of efficiently sourcing and collaborating with trading partners and how both companies use SAP Business Network to collaborate with the best partners for their business needs.
Significance of Business Networks
Business networks are vital to identify and building relationships with the trading partners that make the most sense for a business. SAP Business Network is a powerful tool that helps connect buyers and suppliers, letting them collaborate in facing today’s supply chain disruptions, geopolitical challenges, and shifting consumer behavior.
The “business network” is not a new concept. Several networks were driven by telephones, sleepy fax machines, and jammed printers, not to mention the manual processes needed to keep communication between partners from going stale.
SAP Business Network can address the pain points while offering best-in-class analytics and insights services. Recent years have proven that intelligent, digital business networks are necessary for creating and supporting agile, ready-for-anything supply chains. It is time to switch to a truly intelligent network while staying true to the core business principles.
SAP has a huge market share in procurement and supply chain collaboration networks. The vision of SAP is to create the world’s largest B2B marketplace. SAP Business Network has the tools to help prepare the business for volatility.
US$4.9 trillion of business is transacted through SAP Business Network currently. With a proven track record, constant innovation, and an impressive product roadmap, it is the future of collaborative supply networks.