Ali Hyder, group CEO of Focus Softnet, explores the impact AI will have on enterprise resource planning systems. Artificial intelligence (AI) and machine learning are the new phenomena that have the potential to bring a paradigm shift in the way industries function. The rise of AI technology is being welcomed by every sector and recently this shift is seen to be extended to ERP software. With ERP applications joining the bandwagon of AI-enabled systems, would result in a profound impact on the technological capabilities of these business management tools. The influence would be widely felt through the optimisation in operating models and superior governance structures that these systems ever had.
Imagine a scenario where all business operations are managed with optimum efficiency. Every task is fulfilled on time and a virtual assistant continually keepsthe management updated with work-in-progress reports. Integrating AI in ERP software transforms this scenario into reality. This powerful combination is successful in achieving fame and status to convince the business leaders to adopt and rely on technological advancement. Machines are made smarter and trained to work as a human to solve problems, thus phasing out manual intervention from routine jobs and even tasks that are dangerous.
Merging AI with ERP software enables the system to read, learn, speak, predict, and act in the most appropriate way while performing several tasks at a single time and with perfection.
Impact of AI cannot be overlooked by businesses if they are willing to thrive in the competitive climate of the future. AI enabled ERP systems optimise business operations and reduce their operational costs, boost employees’ productivity and companies’ profitability. This AI and ERP combination bring along a host of other benefits explained below:
One of the core capabilities of an ERP system is to streamline workflow and improve decision makings. AI’s augmented predictive analysis capabilities further improves the speed and quality of decision making. From production to strategy, the system analyses the huge volume of datasets, determine market behavioral patterns, learn from them, and predict more accurately than it was previously possible. Through the in-depth insights, it becomes easier for businesses to anticipate and overcome potential problems that are likely to arise in the future.
ERP software experiences technology augmentation with the inclusion of AI. Going beyond generic touch or typing, the systems are ready to be controlled with voice commands. These applications
capture voice streams, translate them into system readable inputs, retrieve information, and execute the associated results. Be it financial reports, fund transfers, credits balance, or any other data, these solutions voice out as well as displays the search results to every business queries immediately after receiving commands from the user.
Manual data input methods increase resource costs and in addition, are prone to duplicate or incorrect entry errors. AI in ERP provides a solution to this issue. It can automatically collect data from multiple integrated applications, thus eliminating the need for any dedicated staff to work on mundane data entry task as well as remove human errors. This way, businesses can reduce the load time along with resource costs while maintaining information accuracy and relativity.
When paired with ERP, AI can retrieve historical data and analyse them to propose the most effective workflow method that can improve internal business operations. The machine learning technology enables the ERP systems to read the already established workflow and accordingly guide the users to carry out tasks effortlessly and without any mistakes.
Artificial intelligence technology includes advanced algorithms that can learn the ways each user interacts with their ERP systems. With the help of this information, AI-enabled ERP systems execute an extensively personalized approach to improve user experience, tailored to resolve their specific problems.