Artificial Intelligence and Machine Learning Enhance ERP Software
Artificial Intelligence (AI) and Machine Learning (ML), are huge contributors in these advances and have revolutionized the way that software operates and functions for the manufacturing industry. Artificial Intelligence and Machine Learning have drastically enhanced ERP software in the following ways:
1. Simplifying Immense Data
One of the greatest challenges that companies face is making sense of the ever-increasing amount of data. With an abundance of information about customers and their behaviors, it is an ever-growing challenge to keep up with the data and even more challenging to draw useful insights from what is offered.
When AI and ML are integrated with a company’s ERP software, it is possible to feed data to AI algorithms which will help a company identify patterns in workflow and operations that would not be visible otherwise.
2. Automating Repetitive Tasks
No matter the company or what they do, every organization has tasks which are repetitive and mandatory. Many of these tasks are easily automated by ML, wherein those processes can be completed routinely through software instead of by human hands. This cuts monotony and routine and allows employees to focus on higher-priority tasks
3. Proactive Problem Solving
When AI is integrated with a company’s ERP system, existing problems are easily identifiable in the workflow, but it also allows for prediction of problems before they even occur.
Machine learning can also help pinpoint manufacturing units that could turn out to be faulty after only a few production cycles. With this information, companies can channel processes and schedule manufacturing tasks in such a way as to ensure that production is not compromised.
4. Unparalleled User Experience and Customer Service
When a company’s ERP system is powered by AI, they have access to information about customer interactions. With this customer data, it is possible to identify the buying patterns of their customers. This programming also gives accurate insight on which products will be in high demand, when the most customers will require the product, and even the frequency of customers visiting websites.
This data is very useful and can be used to help streamline production units and resources to meet the demand with accuracy which improves customer satisfaction. This greatly enhances the user experience which in turn serves to build better trust with your customers.
AI integration into ERP software can also boost customer service and support as it can monitor “frequent” issues and help solve these issues without the need of involving customer service representatives by using virtual assistants. Specific problems such as restarting a device when it isn’t working can all be completed quickly and effortlessly by virtual assistants. This ensures quick resolution of common issues for your customers.
5. Enhanced Marketing Solutions
Artificial Intelligence and Machine Learning are brimming with potential in identifying untapped business opportunities. Using the insights, they can provide insights such as customer buying behavior, demographics, gender, age, etc. Your company can better serve customers by providing what they need before they even realize they need it.
AI is enabling companies to rediscover market opportunities and customer segments that could potentially be identified as the new target audience. Many potential markets have been overlooked, and thanks to data insights that are being provided by AI and ML, marketing and sales teams can use these reports to improve the visibility and revenue opportunities for their company.
6. Department Integration within the Organization
Many times, there are multiple resources that are working in tandem to ensure that a company operates seamlessly. These resources often include software solutions for human resources, payroll processing, training and onboarding, manufacturing, and even supply chain management.
Even with all of the software solutions working, no matter how beneficial they may be individually, they are not reaching their full potential if they are not in a centralized system and location allowing all software to be connected and synced. This is where AI is crucial. With AI enhancing ERP software, manufacturers can streamline all of the critical data taken from each software solution to one centralized location. This streamlines the integration of information from various departments and thus ensures excellent data flow, helping your company to stay on top of your market.
The AI industry is ever growing and is expected to continuously grow to $190 billion by 2025. Companies that have already integrated AI and ML into their daily practices are ahead of the curve. Digital transformation is the wave of the future. Now is the time to upgrade your processes, operations, and existing ERP.
About the Author
This article was written by Stephanne Marsh. Bilingual Marketing Support Specialist at Godlan Inc. – Improving Manufacturing Through Technology & Innovation.