Businesses must upgrade on all aspects to stay relevant in a competitive market like today. Technological advancements are pivotal in various processes and everyday functions of any enterprise. Enterprise Resource Planning (ERP) software continues to be an integral part of most organisations across industries. The software enables automation and streamlines various business functions.
Before choosing an ERP, it is essential to identify the gaps and loopholes in business that need to be addressed in addition to understanding the functionalities that can be leveraged for your business. Let us help you understand the latest ERP innovations, which can help run your business efficiently.
Other Technology Integrated with ERP
While ERP is imperative for a company’s digital transformation, it is still a considered capital expense in technology. Organisations can improve the efficiency of business functions by integrating existing systems and technologies with ERP, such as IoT and AI. For example, a company with an online business integrates ERP into its e-commerce platform. It helps them improve the workflow of online orders, automates order fulfilment, updates inventory levels, and records payment. Similarly, retailers can also integrate a warehouse management system to track the movement of goods.
Better Insights by AI-Powered ERP
By integrating ERP, organisations can leverage Artificial Intelligence to scan a vast amount of unstructured information and gain insights. These insights help to predict various trends and form intelligent business strategies. For example, if an order is accepted, ERP functionalities help optimise resources to deliver the order will reduce inventory carrying costs to optimise supply and labour schedules to lower costs and increase productivity. Therefore, ERP with built-in AI can aid the management of business functions efficiently.
Companies aim to deliver customised experiences to their customers. So, they seek ERP capabilities that can help them implement their business-specific process with the help of customisable dashboards. Consider the example of AI-based conversational user interfaces such as chatbots.
Organisations operating through multiple locations can use two or three-tier ERP software. The software splits between different devices with a connected network. The tier-1 software handles the core business functions, and other tiers handle activities like sales, marketing, manufacturing, human resources, and more. As data is managed centrally, any changes in data are updated in real time across the servers. Three-tier ERP is a good choice for growing companies because it is scalable, fast, secure, and flexible.
We at SourcePro, offer businesses the latest ERP innovations and customise this software. Our ERP experts at SourcePro help you analyse the needs of your business functions and processes to create a holistic ERP solution that integrates well with your business. From new trends to customised ERP features for your business, you can consult us to understand the role of ERP innovations and how we can help you integrate them into your business.