Intelligent ERP- What could happen if your business stayed two steps ahead of the competition? Could your sales team ensure a customer is never lost? Would your executive team see risks and favorable conditions emerging around the corner and act decisively to change course or improve outcomes? Can your supply chain and manufacturing operations detect inventory shortages and rising demand to ramp up production in real time?
The opportunities to pivot fast and move ahead are unquestionably endless with technology. But all too often, legacy ERP systems create roadblocks that limit the access and use of data, hindering intelligent capabilities that can help businesses respond to challenges and opportunities when they arise. They include a 360-degree view of operations, predictive and prescriptive analytics, process automation, and IoT-enabled workflow triggers.
The need for a new approach to traditional IT landscapes is growing more urgent every day. To become more intelligent faster, companies will increasingly invest in data-driven technologies, such as artificial intelligence, as the core of their user experience. IDC forecasts that 65% of Global 2000 organizations will likely rationalize, modernize, and transform their businesses with this digital edge by 2023.
Raising the bar on the value of data
Achieving market dominance requires an entirely new set of skills beyond leveraging existing historical data to scale operations. Now, businesses of all sizes must blend customer, experiential, and operational data in a closed loop to rapidly refine and define all aspects of the company immediately and responsively.
According to IDC, acquiring such a level of intelligence requires an operational foundation for future innovation: Intelligent ERP. This step allows organizations to automate tasks with algorithms, analytics, and cognitive and assistive user interfaces, gain better insights, and make more actionable decisions to improve operational resilience, bottom lines, and market position.
The reason why Intelligent ERP is such a great fit for today’s business challenges comes down to its architecture. Joshua Greenbaum, principal of Enterprise Applications Consulting, recently acknowledged that these solutions, such as SAP S/4HANA, are designed to sync up with customers’ real-world requirements as they create their unique path to digital transformation.
The core elements of an Intelligent ERP architecture comprise four critical principles:
1. Treat the cloud as a gateway to IT connection and modernization
Creating a great consumer and employee experience requires more than a better user interface. It’s about exceeding expectations, while delivering insights at the right place and time to simplify daily tasks, tap into operational transparency, and make better decisions.
With a combination of Intelligent ERP and a cloud platform, organizations can increase their agility to meet today’s growing business demands. They can streamline processes company-wide by connecting machine learning capabilities. Furthermore, they can simultaneously innovate and deploy specific, well-rounded applications to create new business models or revenue streams such as personalized, subscription-based services.