SAP Business One

What is SAP? Which businesses should use SAP Business One?

SAP is a software commonly used in many businesses. It can be said that this software is one of the important factors that create success for businesses, especially import-export businesses. So what is SAP and what is SAP Business One? Why should businesses choose SAP Business One? In the article below, we will find the answer to this question.

What is SAP?

SAP is the acronym for System Application Programming, this is the name of a famous software company in Germany. SAP software is also known by a more complete name, SAP ERP (Enterprise Resource Planning). SAP was launched in 2006, is a business planning software developed by SAP company. It brings businesses a series of important resource planning such as: financial management, supply chain management, customer relationship management...

What is SAP Business One?

SAP sells many products, products related to ERP (Enterprise Resource Planning), including SAP Hana and SAP Business One . Among them, SAP Business One is well known because it is a comprehensive management solution, specifically designed to meet the administrative needs of small and medium-sized businesses. SAP Business One is also known as SAP B1.

SAP B1 integrates all the important information of your business from core business functions including: Finance, sales, customer relationship management, purchasing, manufacturing, inventory management... The information will be stored in the same database with a highly secure system. Thanks to that, it helps businesses access and find information quickly.

Why choose SAP B1?

If you are a new business or operating on a small and medium scale, SAP B1 is a perfect choice. In addition, SAP B1 also has advantages such as:

Significant savings in time and business management costs.
Reduce business management costs from finance, purchasing, inventory, customer relationship management to project management, human resources activities...
Provide information when needed, helping to make decisions faster and more accurately.
Data synchronization helps minimize errors and avoid entering data multiple times.
SAP Business One has fast real-time processing speed and a friendly interface even for those who do not specialize in information technology.

Benefits of SAP Business One

SAP Business One is a famous accounting and financial management product. This is also a software that provides an ideal solution for companies looking to expand and grow in scale.

Accountant

Helps control business finances effectively

SAP Business One provides a complete set of tools to help manage and streamline your business' financial operations. It will automate daily accounting tasks such as recording financial transactions, supporting tax calculations and allowing multi-currency transactions.

• Accounting: Automatically handle all important accounting processes, such as journal entries, accounts receivable, and accounts payable.
• Control: Accurately manage cash flow, track fixed assets, control budgets and track project costs.
• Streamline: Fixed asset management and virtual fixed asset functionality will help you get rid of tedious, repetitive manual data entry.
• Bank reconciliations: Quickly process reconciliations, bank statements, and payments using a variety of methods including check, cash, and bank transfer.
• Financial reporting and analysis: Create standard or custom reports from real-time data for business planning and audit reviews.

Sales and customer relationship management

Create a basis for customers to be loyal to the business

Acquiring new customers is important to success, but building close relationships with customers is equally important. SAP Business One provides tools to help you effectively manage the entire sales process and customer lifecycle – from initial contact to final sale, post-sales service and support .

• Sales and opportunity management: Effectively track opportunities and activities from initial contact until deal close.
• Marketing campaign management: Create, manage and analyze your business's marketing activities.
• Customer management: Store all important customer data in a single place. Synchronize and manage customer contacts stored in Microsoft Outlook.
• Service Management: Manage warranty and service contracts efficiently, set up and respond to service calls quickly.
• Reporting and analytics: Generate detailed reports on all aspects of the sales process, including forecasting and process tracking.

Build your sales team: Manage your busy sales with the sales mobile app – SAP Business One.

Purchasing & Inventory

Optimize business purchases to increase profits

Every small business needs a systematic approach to managing the procurement process, from requesting supplier quotes, to creating purchase requisitions and paying suppliers. SAP Business One helps manage the entire order to payment cycle, including: receipts, invoices, returns and payments.

• Procurement: Create purchase requisitions, points of sale, and merchandise receipts; Purchasing Document Path documents for audit purposes. Additionally, the software manages profits, additional costs, and currencies.
• Master data management: View account balances and purchase analytics, and maintain detailed purchase information with price lists and tax information.
• Warehouse & Accounting Integration: Get real-time synchronization of goods receipts and inventory levels.
• Handling accounts payable: Invoices, cancellations, credit memos with purchase order references, planning the business's goods requirements, thereby scheduling purchases accordingly.
• Easier reporting: Create reports with real-time data and display them in different report or dashboard formats to make it easy for viewers to stay informed.

Smart business

Understand your business business intelligence

SAP Business One provides highly accurate reporting and analysis tools. It includes a free and fully integrated version of SAP Crystal Reports® for SAP Business One. So you can collect data from multiple sources to create timely and accurate reports based on company-wide data.

• Report Creation & Customization: Access data from multiple sources, create new reports, and customize existing reports in a variety of layouts at an optimal cost.
• Interactive Analytics: Use standard MS Excel features to create reports and you can evaluate your business from new perspectives.
• Make your reports stand out: With striking visuals by integrating SAP Lumira for SAP Business One.

Production plan

Transparent inventory control and distribution

SAP Business One provides accurate information about incoming and outgoing shipments, inventory, and item locations. You can evaluate inventory using benchmarks, moving averages, FIFFO (first in, first out), track inventory levels, and track transfers in real time. You can run real-time inventory updates and check availability as well as manage standard and special pricing. You can also apply discounts according to criteria such as: order size, cash payment, customer type and run reports showing problems related to that order.

• Warehouse & Inventory Management: Manage inventory using various cost models, maintain item master data, and use multiple units of measurement and pricing.
• Bin Location Management: Manage goods in multiple warehouses,= by dividing each warehouse into many sub-zones, setting up allocation rules, and optimizing the movement of goods in the warehouse to reduce picking time.
• Merchandise Receipts & Issue Control: Record merchandise receipts and issues to track warehouse location and transfers. Allows consignment, shipping and cyclical inventory counting.
• Production planning and material requirements: Create and maintain bills of materials (BOMs). Release production orders manually or via back-flush and maintain global prices for bill of materials.
• Powerful reporting: Create reports with just-in-time data and display them in multiple formats or dashboards.

Analysis & Reporting

Empower employees to help businesses make smart decisions faster

SAP Business One empowers your employees to make smarter and faster decisions by capturing all the important information about sales, customers, operations and finances – making it right immediately available company-wide.

By integrating this data in one system instead of multiple disconnected spreadsheets, it helps eliminate duplicate data entry and related errors.

Workflow-based alerts trigger automated responses when critical business events occur. Allows you to focus on the most important events. Helps you have a clear vision of how your business is performing and rely on that highly authentic information to make confident decisions.

Along with SAP Crystal Reports is fully integrated for SAP Business One, allowing you to choose many different report formats, thereby controlling access to the information displayed.

You can access real-time reports & charts for detailed and intuitive views to make more accurate decisions. Employees can also resolve customer needs more quickly. Management can also accurately track revenue, costs and cash flow to evaluate performance and take quick corrective actions.

Is the investment cost for SAP B1 system expensive? 

SAP Business One is designed to fit the needs and budgets of small and medium-sized businesses. Therefore, you can rest assured about worrying about exceeding your budget.

SAP Business One costs are calculated on an assigned user basis. So, the total project cost will include licensing fees based on the number of business users and maintenance costs and deployment fees. With a modular structure, businesses can invest according to current management needs and upgrade when the business grows in the future.

In the long term, investing in SAP B1 software is a smart choice.

In short, SAP Business One is an ERP (Integrated Enterprise Resource Planning Software) software package. It is the only system that manages all business activities of the enterprise, helping you make decisions quickly and effectively. If you want to know more general information about SAP Business One products, please contact GrantThornton via hotline: 08 3910 9100 (in Ho Chi Minh City) or 04 3850 1686 (in Hanoi) for more in-depth advice.