In our rapidly-digitizing world, businesses need a modern ERP system that can keep them up to date and help them efficiently manage their important business functions. In many cases, legacy models just aren’t cutting it anymore, and this isn’t only true for large enterprises. Advancements in Intelligent Automation and AI technologies represent the forefront of today’s ERP systems.
Many IT leaders and smaller companies alike are looking to upgrade their existing ERP solutions. If you’re one of these companies, the implementation of Intelligent Automation is the most promising development to keep an eye on and consider.
Recognize the Need for Modernization
Even though the shift towards more optimized and modern ERP solutions has been a reality for some time, the global pandemic has accelerated the need for change as organizations strive to adapt to new market realities. E-commerce is now crucial for the survival of brick-and-mortar storefronts as consumers have come to expect innovations like contactless transactions — both for safety and convenience. Most agree that these new customer preferences are unlikely to go away any time soon. Investing now helps your business secure a stable future where you’ll be able to meet current and prospective customers’ expectations.
Establish a Digital Workforce
If you’re in manufacturing, chances are that you would benefit from closer collaboration with supplier partners in order to enhance efficiencies within your supply chain. While that may seem daunting, modern ERP systems streamline the process by providing much deeper and more precise insight into operational processes, allowing you to react and pivot with ease.
By implementing Intelligent Automation, a procurement organization could eliminate the need to manually review supplier contracts to make sure they’re up to regulation. AI components like Natural Language Processing (NLP), machine learning, and document understanding are just some of the capabilities that can be harnessed to leverage important data in an efficient and accurate manner. Additionally, the automation will continue to improve over time as it learns, creating a true digital workforce to augment and optimize your team.
Reduce Costs and Free Up Resources
One of the most important benefits of a modern ERP solution is long-term cost savings due to lower operation costs than legacy systems, which also frees up your IT staff to do other tasks. Process automation has traditionally been associated only with back-office processes, and it’s true that these are prime targets for automation due to the high risk of human error. However, the benefits of automating front-office functions are increasingly being discovered as well.
For example, in marketing and sales, automation has begun simplifying the process of sifting through vast amounts of data in order to predict customer behaviors. Now, labor-intensive efforts to manually tailor approaches to different clients will no longer be in the hands of your human workers, freeing them up for higher-level tasks.
With Intelligent Automation, you’ll be able to automatically target marketing messages that suit different customers, sorting through huge amounts of data faster than human workers ever could. This results in a smoother, less error-prone process overall, with more profitability — and all for a lower cost than existing human-operated, legacy systems.
AI-Enhanced ERP – An Investment in the Future
There are challenges that hold some companies back in embracing these new advancements, such as the difficulty in integrating processes and data for organizations currently dealing with fragmented legacy systems. Concerns are also raised over organizational planning and change management.
Despite these challenges, it’s clear that now is a great time to look into a modern ERP solution with Intelligent Automation. Your legacy systems will continue to become more difficult to maintain and coordinate as the digital landscape changes, and the business benefits associated with an upgrade are immense. Operating costs decrease, resources are freed up, and efficiency increases, thanks to the elimination of human error.
A modern solution takes into account future advancements and developments, giving you the ability to easily adapt, scale, and react to new and emerging technology. At this stage, upgrading your ERP is an investment in the future. With Intelligent Automation you’ll gain the competitive edge and reap the full benefit of what current (and future) ERP technology can offer.