7 Ways The Stockiq And Sap B1 Integrations Enhances Productivity

Today’s inventory-based businesses are complex and interconnected behemoths, which require advanced tools and solutions to run like well-oiled machines. The challenges and needs which modern inventory-based businesses face can include everything from coordinating stock to operating in the face of unexpected global events. 

In order to operate at their peak effectiveness and overcome obstacles, many inventory-based businesses choose to deploy two software solutions concurrently: a supply chain planning suite paired with an enterprise resource planning (ERP) system. Two of these solutions which can be used together are StockIQ and SAP B1, and this post will discuss everything you need to know about the StockIQ and SAP B1 integration.

What is SAP B1?

Before we dive into the specifics of the StockIQ and SAP B1 integration, let’s quickly recap what exactly is SAP B1. SAP B1 is an ERP system which is designed for small and medium sized businesses. It offers tools for accounting, inventory, sales, purchasing, managing customer relationships and reporting & analytics. While SAP B1 is not only designed for small and mid-sized inventory-based businesses many of its features are also either specific to these businesses or can be used by them.

SAP B1 can either be deployed on premise or over the cloud, and it can be accessed on mobile devices. It also can operate well for international businesses: SAP B1 supports twenty-eight (28) languages and has fifty different country-specific versions. 

While SAP B1 can be useful on its own, it shows its maximum potential when paired with StockIQ’s supply chain planning suite.

Why Pair StockIQ and SAP B1?

In today’s digitized and fast-paced world, inventory-based businesses rely on several things for their successes, including real-time data, streamlined processes, full visibility, and effective software. The StockIQ and SAP B1 integration bring together the strengths of both platforms, enabling inventory-based businesses to optimize inventory management, leverage demand forecasting, accelerate order processing and manage the day-to-day of their operations.

Why are these two pieces of software crucial together? The modern supply chain is an impressive feat, but it’s also vulnerable to both rapid transformations and unexpected disruptions. Consumer habits can change at the drop of a hat, and 57% of businesses acknowledge that disruptions in the supply chain “significantly affect their company’s revenue.” 

While it might not be possible to control external factors which can impact an inventory-based business, the way to both boost resiliency and overall optimization is by deploying the right software combination. Real-time visibility and insights are another main benefit of the Stock IQ and SAP B1 integration. Data shows us that only 6% of companies today report having full visibility of their supply chain, while 70% admit they do not have “total visibility” into what’s going on. 

As we’ll discuss, many inventory-based businesses can benefit from pairing StockIQ and SAP B1, because of the unique nature of their relationship. 

How the StockIQ and SAP B1 Integration Enhances Productivity

There are several specific ways that the SAP B1 integration can transform the way an inventory-based business operates when applied alongside StockIQ. Here are 7 that the StockIQ and SAP B1 integration enhances productivity.

1. You can take better control of the way your business manages its finances

Inventory-based businesses are rooted in complex finances, and many of the features of both StockIQ and SAP B1 can vastly improve the way decision-makers manage the financial aspects of their business. For example, StockIQ alone produces extensive forecasts and analytics, while distilling key insights into an inventory-based businesses’ operations. 

The SAP B1 integration offers additional features which are designed for financial management, and which can help leaders reduce errors, improve margins, and make overall better-informed financial decisions. Specifically, you can automate all key accounting processes (such as accounts receivable), monitor costs & budgets, and manage fixed assets. You can also process banking and reconciliation, and access financial reporting and analysis. 

2. You can optimize purchase and inventory control

From purchase orders to inventory levels, purchase and inventory operations in a warehouse can often be inefficient or cause bottlenecks. In many instances, businesses actually lack inventory tracking systems altogether, with research showing that 21% of small businesses forgo a system such as this, and 67% of supply chain managers are using spreadsheets as a solution. 

With the SAP B1 integration, decision makers can easily manage the complete order-to-pay cycle (including navigating receipts). Specifically, SAP B1 has a streamlined procurement process, which can help with things such as purchase order creation and returns management. It also allows for the synchronization of goods receipts and inventory levels in real-time. 

When it comes to purchasing, decision-makers can create purchase requests, POs, and review document trails. It also allows for managing detailed data in a user-friendly interface. 

On its own, StockIQ offers robust features designed specifically to optimize purchase and inventory control. For example, with StockIQ’s advanced forecasting systems, decision-makers can improve service levels by reducing stockouts and improving purchasing. StockIQ’s interface also gives you immediate answers to critical questions, such as what you’re going to sell, what you need to buy, what you’re out of and if you’re meeting your service level targets. 

3. Production planning is a breeze

The SAP B1 integration has features which are specific to production planning, and which can overhaul the way decision-makers approach their production. For example, SAP B1 allows for warehouse and inventory management (which can include various costing models, item pricing master data, and multiple units of measure and pricing). It also has features specific to bin location, meaning you can streamline the way you manage stock in multiple warehouses.

Additionally, the SAP B1 integration has features which allow for recording good receipts, tracking stock location, and for running real-time inventory updates and availability checks.

4. All your data is centralized

Centralized data is key to enhancing productivity in an inventory-based operation, and the StockIQ + SAP B1 integration fuels ease of data usage by centralizing all your key insights. This integration consolidates information from StockIQ’s demand forecasting, inventory optimization and analytics features, alongside SAP B1s financial data, sales records, customer information and more. 

This accessibility to data eliminates information silos which can hinder effective decision-making, by allowing all relevant parties to access information as needed. This can foster cross-functional collaboration, allowing different teams and individuals to collaborate seamlessly. 

5. Decision-makers can better manage customers

Effectively managing customers is also critical for a productive inventory-based operation, and the StockIQ + SAP B1 integration allows for next-generation customer management. Starting with the sales cycle, SAP B1 allows for easy tracking of opportunities and leads. It also has features which allow for simple management of marketing campaigns. Most critically, it allows for storage of customer data in a one-stop-shop, as well as easy retrieval. 

When it comes to transparent and useful customer communications, decision-makers can lean on the StockIQ and SAP B1 integration to give customers updates about inventory and stock, quickly identify excess or stock-outs and improve service levels. 

6. Leverage the most advanced real-time data and analytics

When it comes to a more productive inventory-based business, nothing matters more than real-time analytics. To get the most advanced and accurate data and analytics possible, businesses can turn to the SAP B1 integration. The insights from SAP B1 can be used to create intelligent forecasts, which can then be used to reduce stockouts and improve service levels. 

Leaders can also use these insights to improve lead times, reduce planning cycle times and operate transparently with customers. They can also create reports based on company-wide data, and make decisions based on data from intuitive, interactive dashboards and reports. All these features can lead to a more intelligent inventory-based business, in which leaders have the ultimate visibility into their operations.

7. Employees are empowered to make better decisions

The SAP B1 integration doesn’t just give leaders and decision-makers access to key insights: it also democratizes data and empowers all employees to make better decisions. This means all relevant employees can view user-friendly dashboards and key reports, and they’re able to address customer needs faster. This means that leaders can trust their team members across an organization to make critical decisions with the best data possible.

The SAP B1 Integration & StockIQ are a Match Made in Heaven

Today’s inventory-based businesses need 360-degree solutions which don’t just provide complete visibility into an operation: it’s also critical that these tools also enhance productivity and lead to a more optimized business. That’s where StockIQ and the SAP B1 integration come into play. 

While both tools can transform how an inventory-based business operates, when combined, these two tools provide ultimate real-time visibility, and give decision-makers practical insights and resources they need to make their lives easier. 

To learn more about StockIQ can revolutionize the way you manage your inventory, contact us. We’re an ERP integration-friendly solution, and we add value to nearly every ERP and WMS on the market.