Let’s face it, trying to increase your company’s revenue can be pretty tricky. Over the years, people have tried some pretty interesting things to try to do this. Some of those ideas worked well, but some of those ideas failed spectacularly and even led to the imprisonment of people that worked on them.
- They tried to hide their debts by creating fake companies that they could then transfer the debt to. This ultimately led to the collapse of the company and the imprisonment of several people involved.
- They tried to hide their expenses by classifying them as investments. This led to an overstatement of earnings and the eventual bankruptcy of the company.
While there are some companies that have been able to increase their revenue through illegal or unethical means, this is definitely not something that we would recommend. Not only is it wrong, but it can also lead to some pretty severe consequences for your company if you’re caught.
So, what are some things that you CAN do to try and increase your company’s revenue? Well, one thing you can do is hire an SAP Ariba Consultant.
Hiring consultants, in general, can be a great idea, but hiring an SAP Ariba Consultant specifically can help you in a number of ways. For starters, they can help you get the most out of the SAP Ariba software.
This software is designed to help businesses with a number of different things such as the source-to-pay process. In today’s article, we’re going to be looking at what SAP Ariba does and why hiring a consultant that is familiar with the software can help you increase your company’s revenue in the long run.
More Examples of Bad Ideas
Before we look at what you should be doing, let’s talk about what you definitely shouldn’t do unless you want to end up in some serious hot water. We already looked a bit at Enron and WorldCom, but there are countless other examples of companies that have tried to increase their revenue through illegal or unethical means. Some other notable examples include:
- They were caught cooking the books in order to make it look like they were doing better than they actually were. This led to the resignation of their CEO and a number of other high-ranking executives.
- They were the auditor for both Enron and WorldCom and failed to catch the fraud that was happening at both companies. This led to a loss of credibility for the firm and a number of lawsuits.
- They installed software in their cars that would cheat emissions tests. This led to billions of dollars in fines and damage to the company’s reputation. –
- Wells Fargo:
- They created millions of fake accounts in order to meet sales targets. This led to a number of lawsuits and the eventual firing of their CEO.
See, all of these have something in common. Someone higher up in the chain of command thought that these things were a good idea. In fact, they probably did work for a while, but the second it starts coming apart, it all falls apart spectacularly.
In some cases, people have even gone to jail for their involvement. So, if you’re looking at ways to increase your company’s revenue, make sure that whatever you’re doing is legal and ethical. Otherwise, you could end up in a lot of trouble.
It might be tempting to try and do something shady because it would be easy enough to get away with for a while, but it’s just not worth it. The risks are too high and, in the end, it will only end up hurting your company. So, what can you do that’s both legal and ethical?
What Does SAP Ariba Do?
Thus far, we’ve only taken a look at things you shouldn’t do. So, that means that it’s time to start looking at things you SHOULD do if you want to increase your company’s revenue. And, as we said before, one of those things is hiring an SAP Ariba Consultant.
But, before we get into why hiring a consultant can help you, let’s first take a look at what the SAP Ariba software actually is and does. This software is designed to help businesses with a number of different things. Specifically, it can help with:
- This is the process of acquiring goods and services. The software can help you streamline this process so that you can get the goods and services that you need in a timely and efficient manner.
- This is the process of issuing invoices to customers. The software can help you automate this process so that you can get paid faster.
- Spend management:
- This is the process of managing your company’s spending. The software can help you track your spending so that you can make sure that you’re not overspending in any one area.
As you can see, the SAP Ariba software is designed to help businesses with a number of different things. And, while all of those things are important, we’re going to be focusing on how the software can help with procurement specifically.
Procurement is the process of acquiring goods and services. And, while it might seem like a fairly simple concept, it’s actually quite complicated and there are a lot of different moving parts involved. For example, when procuring goods, you need to take into account things like quality, quantity, price, delivery time, etc.
And, when procuring services, you need to take into account things like availability, skillset, price, etc. As you can see, there’s a lot to think about when it comes to procurement. And, that’s where the SAP Ariba software comes in.
It can help businesses streamline the procurement process so that they can get the goods and services that they need in a timely and efficient manner.
How an SAP Ariba Consultant can Help Your Business
Remember the world before the internet? When you’d go on road trips and have a paper map that you’d have to consult to get to where you were going. You might have even made a wrong turn or two because the map wasn’t entirely accurate.
Now, compare that to today. With the internet, you can just type in where you’re going and you’ll get turn-by-turn directions that are almost always accurate. And, if you do happen to make a wrong turn, it’s no big deal because you can just re-route yourself.
In the past, when you did make a wrong turn, you’d have to ask someone for help. Preferably, someone who knew what they were talking about. Well, hiring an SAP Ariba Consultant is kind of like that. While things are easier today in some ways, they’re a lot more complicated in others.
They are the experts on the SAP Ariba software and they can help you navigate the complicated world of procurement. They can help you with things like:
- Evaluating your current procurement process:
- They can take a look at your current process and see where there might be room for improvement.
- Streamlining your procurement process:
- They can help you streamline your process so that you can get the goods and services that you need in a timely and efficient manner.
- Implementing the SAP Ariba software:
- They can help you implement the software so that you can start using it to its full potential.
- Training your employees on how to use the software:
- They can train your employees on how to use the software so that they can be as efficient as possible.
All of these things are incredibly useful, but how do they help you with your revenue stream? Well, it all comes down to efficiency. T
The more efficient your procurement process is, the more money you’re going to save. And, the more money you save, the more money you’re going to have available to reinvest in other areas of your business.
For example, let’s say that you’re currently spending $100,000 per year on procurement. But, with the help of an SAP Ariba Consultant, you’re able to streamline your process and reduce that number to $50,000 per year.
Now, you’ve just freed up $50,000 that you can reinvest in other areas of your business. Maybe you use it to hire additional staff or maybe you use it to purchase new equipment.
Whatever you decide to do with it, that extra cash is going to help your business grow and generate even more revenue.
Getting Help Getting Started
As we stated, getting your revenue stream to increase is tricky business and you want to be sure to avoid any legal or ethical problems. However, one solution that is both legal and ethical is hiring an SAP Ariba Consultant.
An SAP Ariba Consultant can help increase revenue for your business in a number of ways. They can help you streamline your procurement process so that you can save money and they can help you implement the software so that you can use it to its full potential.
If you’re looking for ways to increase your company’s revenue, hiring an SAP Ariba Consultant is definitely something that you should consider.