It’s more important than ever that businesses embed intelligent technologies into their organizations to ensure they are providing optimal value for their customers and their employees.
Before the days of intelligent technologies, people would find themselves spending large chunks of time working on mundane, administrative tasks instead of being able to focus on work that requires critical thinking and adds more value. This has changed over the last several years, as intelligent technologies have started to make an impact across all business functions and sectors. In fact, AccentureOpens a new window found that 56% of executives believe rapid advancements in new technologies are poised to disrupt their industries. With so many new digital transformation initiatives being implemented across today’s organizations, it’s no surprise that we’ve seen an uptick in the number of intelligent technologies that are transforming enterprise resource planning (ERP) across more than 25 different industries.
Creating Value
Leaders are looking for intelligent technologies to help drive topline growth. However, the more forward-thinking businesses will focus not just on revenue but on generating unique new customer insights. When intelligent technologies are leveraged to surface information about customers that can be used to better meet their needs, this will drive long-lasting business value – creating more loyal customers and ultimately driving the bottom line.
It’s crucial that decision makers also remember the value these technologies can bring to employees. With intelligent technologies we can reduce the time employees spend on repetitive tasks which may be tedious and time consuming, allowing employees to have more time back in their days and giving them the opportunity to do more meaningful work based on the insights that the system provides. With the majority of business use cases, value is seen in automating repetitive human tasks such as grabbing and downloading documents and inputting the data into systems – tasks that someone working in finance may have to do more than 60 times per day. The beauty of intelligent technologies is that we’re able to automate to a high degree, thus allowing employees within an organization to spend time doing more valuable work. At the end of the day, this benefits the organization and its customers.
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Intelligent Technologies in Action
The core of ERP has historically focused primarily on finance functions, with the majority of users spending the most time on financial accounting, closing and reporting. As an industry, we’re starting to make great strides in this area. Now, thanks to advancements with machine learning and artificial intelligence, we’re seeing innovation going to other functional areas such as manufacturing, service and purchasing, HR, logistics and sales.
For example, a sales manager who is working on an inquiry for a customer can utilize a bot that will receive the data through interface systems. From there, RPA can receive the inquiry and then leverage ERP to look for specific sales prospects for a customer using data that is already provided. The performance data that is then given to the sales manager can provide that person with additional input, allowing them to identify how they can improve predictions leveraging machine learning to find the best potential prospects. Additionally, RPA can help with sending a quote to a prospect. Once the system works on a quote, situational handling takes over and alerts the sales manager who can get inside the data and provide action. Lastly, sales managers can leverage RPA embedded intelligence to alert them if any information from an online form is missing.
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The Future of ERP
Over the next several years we’ll continue to witness the ERP evolution by way of more embedded technologies that provide value for customers and businesses alike. As customers continue to become more tech savvy, we’ll need core processes to be standardized to ensure we can automate them to keep pace with current day technological proficiencies. We can expect our customers will want to spend more time digging into the data provided via intelligent technologies to meet the growing needs of their business.
No matter what industry you’re in, it will always come down to trust and how much faith customers can put into the software and algorithms that are provided. It’s imperative that vendors are able to provide traceability to their clients in case any of the algorithms go wrong. The more we establish trust and traceability for intelligent technologies with clients, the easier it will be to get them on board with using these tools to transform their organization.
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