What Are The Benefits of SAP PS

Project management is much more than just delivering products on time. It requires developing a bond between teams and clients, creating a vision for a successful project and getting everyone on the same page. In order to run a successful project, there are plenty of factors to keep track of including profit, inventory management and reporting. All of these calls for planning.

Luckily, with SAP PS (Project Systems), you’ll be able to manage the entire project lifecycle, provided that teams should be provided with SAP project systems training.

The system is whippy, making it legitimately common among the businesses that already run with SAP. If you don’t already have this integrated into your business, here are the major benefits of SAP PS. Let’s have a look at it.

1. Scheduling
   Before a project begins, the team has to clearly define the project goal. Traditionally, a project manager plans and executes each step of the project manually which brings room for error. SAP PS, on the other hand, enables automatic identification of deadlines and tasks. It uses WBS (Work Breakdown Structures) and Network Activities. WBS organises the project and its individual tasks in a hierarchy for easy prioritisation. Every level has a start and an end date. Via the Network Activities, the completion of one stage will be followed by the start of another.
   
   
2. Resource planning
   
      Manual project management can lead to shortages or overstock. But the SAP PS efficiently manages the material purchases and tracks real-time resources, costs and materials. It also identifies the internal capacity requirements.
   
   
       Furthermore, regular audits of inventory are necessary for project management. SAP project system overview will enable inventory managers to track inventory levels at all times and receive signals when restocking is necessary.
   
   
3. Forecasting
   For any business, simply tracking sales numbers and KPIs aren’t enough. You also need to forecast profits and estimate revenue in different scenarios.
   
   With this project management tool, SAP PS, you will be enabled to gauge your business’ performance on a consistent basis. Additionally, it will help to get a better idea of which products are having good sales, which items need more stock and which are required to be phased out.
   
   
4. Tracking
   Real-time tracking is useful for keeping an eye on critical factors like the inefficiencies of a specific project. As a general overview, every business aims to minimise material waste and optimise the time spent by their workers.
   
   With SAP PS, you will be able to identify inefficiencies occurring in the project lifecycle. It will be done by measuring the project status and progress by comparing actual and plan data along with the initial forecasts.
   
   
5. Easy integration
   From material planning to finance and controlling, a project lifecycle has several stages. Luckily, the SAP PS is easily integrated with other SAP modules such as material management, logistics, sales and distribution and many more. In simple words, SAP PS has constant data access to all the departments involved in the project. This easy integration with other systems features will help you determine the loopholes of the project and streamline every process at each level.
   
   
6. Data security
   Data protection is required to meet legal requirements and privacy concerns. It is important to be compliant with industry-specific laws in different countries. SAP PS tool supports data privacy by providing a variety of safety features. So, with SAP PS in your organisation, you can be confident when it comes to  corporate data security policies.
   
   
7. Accounting
   Any business needs to take into consideration the accounting requirements for any type of project. From resource requisition to distribution of budget within the project, everything should be tracked properly. SAP PS helps you to deal with these accounting requirements by giving you significant control over your finances.
   
   
        Because there are plenty of levels in the projects, it can be a trickier job to manage all of them. But with today’s technology, a lot of processes have become much easier. So, hopefully, the benefits of SAP PS have convinced you to integrate the system into your business.