Although the concept of Artificial Intelligence in ERP Systems seems fairly new, or even a futuristic dream, it has been a part of our lives for decades. Alan Turing, a young British polymath, was the one who explored the mathematical possibility of artificial intelligence in 1927. But, the idea of AI wasn’t fully welcomed until 1956. During that year, the term ‘Artificial Intelligence’ was first adopted by American computer scientist John McCarthy who organized the Dartmouth Conference.
AI is redefining evolution – from chatbots to social media monitoring to self-driving vehicles to human-like robots. Today, Artificial intelligence (AI) is a blessing for businesses belonging to multiple industries. The advantages of integrating AI are many – improved process efficiency, no human errors, and easy access to insightful data – these are just a few of the primary benefits. Let’s dive deeper into the role of machine learning AI powered in ERP systems-
How Is Artificial Intelligence Changing ERP Systems?
As they say – to err is human. As evolved and intelligent as we are, it’s only human for us to make a few errors along the way. Now, thanks to Artificial Intelligence, businesses no longer have to rely only on Human Intelligence. AI tools and technologies can perform tasks that initially required manual work, and more efficiently so. ERP systems (SAP , Microsoft Dynamics 365, Kepler ERP) manage the creation, processing, and reporting and support the data management for businesses.
It is essentially software used by organizations to manage mundane business activities such as accounting, procurement, project management, manufacturing and warehousing operations, risk management and compliance, and supply chain operations. AI-enabled ERP systems can perform these tasks faster, with more precision. They can process massive volumes of data swiftly. A dedicated team doesn’t have to waste valuable man-hours, time, and efforts; businesses can instead focus on more revenue-generating tasks.
AI is now contributing significantly to helping businesses make data-driven decisions. When you pair the power of ERP with the power of AI, you get efficiency like never before. Here are some of the key advantages of AI-enabled ERP Systems-
Machine Learning Use Cases : Artificial intelligence in erp systems
1. Sales Management:
With AI by your side, you can track a customer’s purchase history. This data helps you recommend similar products to the customers. It also allows you to better manage inventory and resources, by the predicted rise and fall in the near-future revenues.
2. Human Resourse:
AI algorithms do a brilliant job of sifting through candidates to find only the ideal ones for a project or an organization. It has not only streamlined the hiring procedures, but also the onboarding, training, introductory, and retention processes.
3. Financial Management:
We all know the complexities that come with tedious accounting operations. When it comes to finances, AI expertly improves transaction-processing efficiency, verifies statements and reports for accuracy, all while predicting future financial results based on trends and market data.
4. Warehouse Management:
With businesses shifting to digital platforms, efficient warehouse management has become a priority. AI tools are a great support in case of supply chain disruptions or sudden changes in demand. From assembling to delivering to the end-customer – everything can be tracked.
Without the data brought to us by AI, curating personalized and relevant consumer experiences would have been a tricky task. Smart marketing tools come with a self-adjust feature to ensure that the set targets are being achieved.
Contact PTS Systems and Solutions for Expert ERP System Implementation
AI-enabled ERP Systems are set to be at the center of businesses, be it emerging firms or mega-corporations! If you are one of the organizations looking for effective implementation of an ERP system in the Hotel industry, you can place your faith in PTS Systems and Solutions.
We have significant experience in managing Global projects and ERP life cycle implementations. Our ERP System Solutions or Add-Ons & Upgrades are tailored to suit your company’s requirements. Start streamlining your processes with zero hassles with us.