Can AI Enhance ERP Systems?
FREMONT, CA: Every enterprise in the modern world is working toward the incorporation of enterprise resource management. Even though the integration of Enterprise Resource Planning (ERP) systems is a big step by itself, augmenting it with artificial intelligence (AI) can significantly help the organizations in gaining a competitive edge in the market in terms of technological innovation.
Based on the material requirement planning (MRP) systems adopted in manufacturing industries, the ERP system has reached new stages of evolution. The technology has permeated across different sectors, including healthcare, finance, agriculture, and so on. The integration of ERP has enabled the organizations to enhance their functionality. The technology has witnessed several changes over the years, the digitalization being the most significant one, which has helped in improving its capability. The growing dependence of organizations on data to drive productivity and revenue has made ERP an invaluable resource, especially in the case of large enterprises.
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The evolution of ERP systems has led to the incorporation of a broad range of functions, starting from accounting to customer relationship management and marketing. Apart from the assimilation of core enterprise functions, the next step in the ERP technology is the integration of AI. Most organizations leverage ERP modules to automate back-end business processes, including accounting and inventory management. It not only allows the integration of multiple functions but also encourages the synchronization and coordination of distinct silos.
Many organizations are adopting sophisticated AI applications to automate their daily operations. The technology has spread its influence across different industries, driving efficient automation of the manufacturing processes. Even in the workplace, AI is used to augment customer experience using chatbots. Also, AI-based big data analytics dramatically improves the decision-making process.
The utilization of AI to complement the ERP systems can not only benefit the individual applications but also to enhance the overall operations of the organization. ERP systems significantly reduce manual data entry, but their operation requires specific repetitive inputs. The introduction AI-based ERP can automate almost every manual task, allowing the employees to spend their time in more creative tasks that require a human touch. The AI systems can also parse the data from sources such as online invoices and order forms through natural language processing (NLP) techniques with almost no human interaction.