The future of artificial intelligence will undoubtedly play a vital role in the evolution of ERP software. In fact, it already is. But what exactly is AI-based ERP? How does can impact companies? What benefits does it offer? This article will give you all the answers you need.
What is AI-based ERP, and why is the future of artificial intelligence so crucial to ERP software?
A brief definition of AI
Artificial intelligence (AI) is a set of technologies designed to analyze operations. It uses algorithms to replace human intervention, ensuring optimal results. In recent years, AI has become a priority for many sectors. Its increasingly impressive capabilities continue to amaze both professionals and individuals.
AI and ERP: the union of artificial intelligence and ERP software
AI is essential for specialized fields such as home automation systems. However, AI technology can be leveraged by any type of business, thanks to AI-based ERPs.
Simply put, the AI-ERP alliance helps businesses make the best decisions possible. By continually collecting data, AI-based ERP strengthens its algorithms, over time optimizing solutions without the need for human input.
AI-based ERPs should not be confused with Business Intelligence, an IT solution used by decision-makers and business leaders, or other concepts that may appear similar at first.
The future of artificial intelligence relies on Big Data (the field of storing huge data sets for analytical purposes) and its continual expansion. Advanced computer programs study this data to learn and draw conclusions.
Integration means accessibility
Incorporating AI into your ERP software doesn’t limit the program’s capabilities. Moreover, optimizing ERP tools with AI doesn’t require any additional knowledge or training in Microsoft Business Central.
AI’s future in ERP solutions such as Microsoft Business Central
Increasingly, companies and organizations are leveraging the power of AI for their ERP solutions. Microsoft Business Central optimizes results for professionals, thanks to four essential characteristics:
Better business decisions through the power of data
One of the most prominent features of AI-based ERP is its ability to leverage data for effective decision-making. With this technology, companies can now discover and adopt the best possible strategies for every aspect of their operations. For instance, by continuously analyzing buyer and prospect behaviour, ERP can help you increase revenue. Moreover, thanks to Big Data and artificial intelligence, it’s possible to retool strategies that aren’t working.
Another attractive use for AI-based ERP is the way it identifies potential issues.
Any given situation can be quickly analyzed by an algorithm for problems down the road, preventing them from ever occurring. This capability has clear benefits for any company or organization, regardless of its field.
Automating routine tasks
Artificial intelligence also automates many routine tasks. Indeed, Microsoft Business Central can simplify a range of processes, including invoicing or even month-end closing. Excel spreadsheets become a thing of the past.
Additionally, AI-based ERP manages other essential tasks, such as inventory management, planning, engineering, and accounting. Delegating these tasks to AI naturally promotes better organization within your company.
What’s more, AI-based ERP can quickly notify a user when it discovers a better alternative to a non-optimized strategy. After getting the green light from a human, it will immediately adopt the new process.
Improving user experience through interaction
Another essential characteristic of AI-based ERP is user experience. Truth be told, an ERP system may seem complicated at first. It’s certainly the case with Microsoft Business Central, where the range of features takes some getting used to.
However, AI-based ERPs have made tremendous strides in improving user experience. Regardless of how you access the software—from a computer, smartphone, or tablet—its responsiveness and ease of use offer total reassurance…even if technology isn’t your forte.
How will companies benefit from the future of artificial intelligence?
Intelligent ERP software encourages companies to continually grow and evolve. Here are a few of the ways it can help your business or organization:
Optimize office hours
Task automation helps optimize your work hours. Thanks to Microsoft Business Central, it’s possible to determine employee tasks and break them down into their fundamental elements. The software then leverages that information to make suggestions for improving your workflow.
Enjoy increased performance
AI-based ERP can discover “profit levers” that might otherwise be overlooked, and hidden costs can be uncovered in a few clicks. Retool your strategies based on what you find and reap the benefits.
It improves budget forecasting, thus increasing the accuracy of your reports. The data that AI-based ERP provides reflects your business’s financial health perfectly.
Once you understand AI’s capabilities, it’s clear that the technology is essential to succeed in this increasingly competitive business world. To boost profitability, you must reduce costs and optimize internal organization practices, whether by improving timesheets or delegating routine tasks. AI-based ERP solutions can do this. They’re developing a pivotal role in effectively running any company.
AI-based ERP’s broadening role in Microsoft Business Central
For several years, Microsoft has supplemented its Business Central solution with exclusive AI breakthroughs. Machine learning for AI-based ERP is a big priority for our customers. After all, AI offers businesses and organizations an unprecedented chance to forecast demand and optimize every element of their operations.
Thanks to new complementary functionalities (such as integrating Business Central with Common Data Service, or even the recently improved system of data entry), Microsoft’s ERP solution maintains a good reputation among professionals. Undoubtedly, AI development is a top priority at Microsoft. By continually perfecting user experience, ERP will only become more relevant to businesses.
Unfamiliar with these types of solutions? Check out a trial version of Microsoft Business Central. You’ll be surprised by its capabilities. Also, if you need more information, do not hesitate to contact us !
If you want to learn how to choose the right ERP solution for your business, you can download our "10 criteria to select your new ERP software" ebook.