Implementing Enterprise Resource Planning (ERP) systems is crucial for managing core functions in modern companies. ERP integrates processes across diverse departments onto a centralized platform. ERP integration allows for faster operations, higher efficiency, and data-driven decisions. But this process may come with many challenges.
ERP implementation can disrupt regular operations by overloading employees with extra tasks and decreasing productivity. Some ERP systems may not be flexible enough to meet specific business needs, reducing the chances for customization. Plus, businesses may be concerned about migrating data and maintaining its integrity.
Fortunately, AI implementation into ERP systems offers solutions to these problems. First, AI in ERP can automate routine tasks, increasing operational efficiency. Second, it can help tailor ERP systems to specific business needs. Finally, AI-driven algorithms provide valuable insights for better decision-making.
But what other benefits can you get from AI in ERP, and what AI tools can be helpful for your system? We’ll cover that further down in our article. Hopefully, this information will guide you in the right direction.
What Is AI in ERP?
Artificial intelligence in Enterprise Resource Planning (ERP) involves integrating AI-powered technologies into ERP systems to enhance functionality and efficiency. AI ERP systems transform these platforms, making them more advanced and intelligent.
The market dictates the rules for businesses. So, they can’t ignore AI integration to bring more value to their clients. The integration of AI in ERP is expected to grow at an annual rate of 29% from 2021 to 2028. Isn’t this a reason to power your system with AI?
Today, companies need more practical solutions that rapidly drive value. AI ERP fits perfectly into this category, bringing AI-powered tools that businesses use daily. Reasonably, 52% of organizations see AI in ERP as a means to improve decision-making capabilities and opt for artificial intelligence to automate more tasks and customize services. Additionally, 55% of retailers plan to integrate AI into their ERP systems within the next few years.
This trend indicates that organizations see the potential of ERP AI and embrace it to fuel their business with new opportunities. Let’s see what benefits make AI in ERP an attractive solution for your company.
How Does AI Revolutionize ERP?
According to Gitnux, 89% of companies benefit significantly from integrating AI into their ERP systems. Before fueling your ERP system with AI, it is vital to understand what it will bring to the table. Ensure that this solution will help you grow and address some of your pain points. Here are the key benefits that AI ERP systems offer:
Operational efficiency: automated tasks and more fruitful work
Forget about repetitive and time-consuming tasks with AI in ERP. AI automates routine tasks like processing invoices, managing accounts, handling customer service requests, and more. Technologies such as machine learning, natural language processing, and robotic process automation allow AI-powered ERP systems to ensure intelligent automation of these tasks.
As a result, this frees up employee time for more strategic work that adds greater value to the business. For example, companies using AI in ERP report a 40% increase in worker productivity. AI ERP solutions help achieve a 20-30% improvement in delivery performance. With AI automation, your ERP system will show positive outcomes, improving overall business efficiency.
Process optimization: fewer errors and more accurate operations
Traditional ERP solutions have fixed and rigid processes, but AI integration makes them flexible and adaptable to changing conditions. AI in ERP can analyze supply and demand patterns and suggest relevant changes. It can also spot workflow inefficiencies and recommend adjustments to improve cycle times. But it’s important to note that you can’t optimize legacy ERP platforms with artificial intelligence.
With AI ERP, it’s possible to reduce errors, ensuring more accurate data and operations. According to Gitnux, 67% of businesses have experienced decreased data entry errors with AI ERP systems. Finally, AI-driven ERP systems can scale with business growth, adapting to growing data volumes and complexity.
Personalized experiences: tailored ERP
AI integration personalizes ERP experiences by understanding users’ roles, preferences, and behaviors. AI in ERP analyzes past data interactions and workflows to deliver tailored interfaces and information.
For example, an accounts manager may get prompts for overdue invoices, while a salesperson could receive notifications about inventory shortages. These personalized recommendations and alerts boost productivity.
Improved security: threat identification and prevention
With the growing threat of data breaches, there is a strong need for security measures. AI ERP enhances system security by detecting patterns that indicate security vulnerabilities or unauthorized access. This enables timely threat identification and prevention.
According to Capgemini Research Institute, 60% of organizations report that with AI, they improve their response to cybersecurity threats. ERP AI systems provide user behavior analytics, credential analysis, and predictive risk monitoring to strengthen software security.
Data analysis and insights: more informed decisions
Today, businesses generate vast tons of data from various sources. This creates difficulties in extracting valuable insights. That’s why AI in ERP is a great solution that allows you to analyze vast datasets swiftly and accurately and make informed predictions.
AI algorithms are great alternatives to human analysts. They can process and analyze data at a remarkable speed. A company can better understand its operations, supply chain, and market dynamics. As a result, from more informed strategic planning to data-driven decisions, AI ERP systems can provide businesses with valuable insights.
Cost savings: optimized financial resources
The potential for cost savings is one of the most compelling benefits of AI in ERP. By automating routine tasks, simplifying workflows, and improving resource use, you can reduce operational costs.
According to Gitnux, AI can enhance the ROI of ERP projects by making them 30% more cost-effective. AI integration in ERP systems is expected to save businesses up to $58 billion annually. So, AI ERP can help your company reduce inventory carrying costs and minimize waste.
Integrate AI into your ERP system with the Forbytes team to embrace optimization and efficiency for your business.
Top ERP AI Tools to Supercharge Your System
Companies are integrating AI tools to fuel their ERP systems with extra capabilities for multiple reasons, depending on their business goals and needs. Thus, the list of ERP AI tools will be unique for every company. But we dare to suggest top ERP systems with AI capabilities that can boost your business excellence.
Microsoft: AI-driven business improvement
Microsoft leads in AI integration with its ERP platform, Dynamics 365, enhancing business processes across various functions. Key AI features in Dynamics 365 include:
- Dynamics 365 AI for sales: Provides actionable insights for sales teams, helping prioritize leads with the highest conversion potential.
- Customer insights: Aggregates data to create a 360-degree view of customers, enabling personalized service.
- Supply chain management: Optimizes supply chains by predicting disruptions, automating inventory management, and offering intelligent order fulfillment suggestions.
- Fraud protection: Detects and prevents fraud activities in real-time, safeguarding financial operations and customer data.
- Virtual agents: Engage with customers and employees, providing instant responses and support, improving satisfaction and productivity.
By incorporating AI into Dynamics 365, Microsoft helps businesses automate complex processes, gain deep insights, and stay agile.
Oracle: a leader in AI-powered ERP systems
Oracle is a leading ERP solutions provider, using AI and machine learning to boost operational efficiency and user engagement in various sectors, including finance and supply chain. Here are Oracle’s AI-driven features:
- Oracle AI apps for ERP: These cloud-based applications optimize operations by automating transactions, providing valuable insights, and recommending actions. These apps are Supplier Recommendations, Intelligent Payment Discounts, Automated Expense Audits, Procure-to-Pay, and Order-to-Cash. These solutions help businesses work smarter and faster.
- Oracle generative AI: This includes large AI language models, natural language processing, computer vision, speech recognition, and conversational AI. These services are designed to be user-friendly, scalable, secure, and integrated with Oracle’s cloud platforms.
Oracle’s AI-integrated features provide businesses tools to tackle industry challenges, drive innovation, and stay competitive in a dynamic market.
Acumatica: automating business processes
Acumatica’s AI features streamline business processes through automation, enhancing efficiency and problem-solving. Key features include:
- AP document recognition: Uses AI/ML to automatically create AP documents from vendor bills, reducing manual data entry and errors.
- Natural language search: Allows users to search for data using natural language queries, simplifying data access and analysis.
- Helpdesk self-support: Provides interactive assistance and self-service options, helping users resolve issues with AI/ML.
- Warehouse shipping and receiving: Automates and optimizes warehouse processes like picking, packing, and shipping, improving efficiency and accuracy.
- Guided reporting and analytics: Generates AI/ML-driven reports and dashboards, enabling data-driven decision-making.
These features boost operational efficiency, free employees from mundane tasks, and create a more favorable work environment, helping attract and retain talent.
Epicor: AI-powered ERP software
Epicor uses AI and machine learning to enhance operations across manufacturing, distribution, retail, and automotive industries. Key AI features include:
- Epicor data analytics: Uses machine learning to provide actionable insights, identify patterns and trends, and offer recommendations based on data analysis.
- Epicor virtual agent (EVA): Automates tasks and suggests actions based on user behavior and current situations. Understands and responds to text or voice interactions, making it easy for users to get help. Sends timely alerts and executes actions based on accessible data, helping users avoid problems and improve efficiency.
- Epicor Kinetic Design: An AI-driven framework for intuitive, responsive applications that adapt to individual user needs.
- Machine Learning Component: Continuously evolves to improve user assistance, ensuring a better user experience.
All in all, Epicor’s AI features enhance efficiency, productivity, and customer service, driving business growth.
SAP: AI-driven ERP system for diverse business needs
SAP integrates AI into ERP to boost efficiency, decision-making, and user interactions. Key features of this system include:
- Industry-specific AI: Trains AI on industry and company-specific data for relevant and reliable solutions.
- Ethical AI deployment: Adheres to ethics and data privacy standards, ensuring responsible AI use.
- Integrated AI: Embeds AI in core processes, connecting finance, supply chain, procurement, sales, marketing, HR, and IT for a unified, AI-driven business environment.
- Agile decision-making: Provides insights from data analysis to facilitate rapid decision-making.
- Task automation: Automates repetitive tasks, improving efficiency and allowing employees to focus on strategic initiatives.
Need Help with Integrating AI into your ERP?
Powering your ERP with AI or choosing from on-shelf ERP AI tools is a great decision that will bring more business opportunities and fuel your system with more advanced features.
Adopting AI ERP for your business shouldn’t be a headache. By following our tips and tricks, you’ll be equipped to make more informed decisions and take your business to the next level.
Having relevant expertise in artificial intelligence consulting and integration, we can seamlessly integrate AI into your ERP and pick up the optimal AI ERP tools for your business. Don’t hesitate to contact us and we’ll get back to you shortly.
