How can Enterprises that use ERP accelerate business growth?
In the current business landscape, where traditional enterprises are aiming for agile technology to help transform business digitally and accelerate growth, most CIOs are looking at AI-led ERP systems to forecast, predict, and unlock the power of latent data and deliver faster RoI. And, as enterprises embark on their digital transformation journey, the ability to connect with existing data is more dominant than ever. Findability Sciences solves this with their newest product, ERP-Max.
What is ERP-Max?
A cost-effective add-on AI micro-product for ERP systems, ERP-Max connects to ERP systems through a middleware connector and extracts historic data to be used for Machine Learning to create models. This middleware also has the ability to connect to both internal and external data. The middleware then feeds into the leading proprietary Enterprise AI flagship offering, Findability.AI, which seamlessly develops, selects, and deploys models to provide highly accurate predictions and forecasting.
The history of ERP
‘ERP’, the phrase first appeared on PowerPoint slides in the 1990s and was the latest manifestation to use computers to manage corporate resources effectively and profitably. The
acronym soon faded away simply because the inundation of new technology trends. Today, ERP systems are front and centre in business plans. Findability Sciences’ ERP Max boasts of an accuracy rate of over 95% forecasted predictions and is touted to be a cost-effective game-changer for the global ERP market, which is estimated to be worth over $32Bn by the turn of next year.
Applications of ERP
And the applications are plenty, whether it is in supply chain, inventory, finance or human resources. In one example, AI-led ERP systems helped electronic component manufacturers to generate real time quotes with forecasted prices. By connecting to ERP data, businesses can accurately forecast the sales of thousands of products. And this is only on inventory
management. Today, AI is taking on more roles and controlling significant decisions. Not only is AI more integrated, but also more trustworthy. And a well-trained AI is an investment that every business is willing to make and deems important to take.
FAQs
Enterprise Resource Planning is a business management software that documents the automation of a company’s fundamental business processes. For many organizations, ERP is the system that manages inputs across departments to guarantee there is a particular source of authenticity for its data.
While all industries stand to benefit from AI-enabled ERP, the manufacturing, banking, financial services, insurance and retail industry can most benefit from the streamlined and automated process that AI brings to ERP systems.
Created by a global provider of enterprise AI solutions, ERP Max is not only a cost effective add on to your traditional ERP systems but also an extremely intelligent and customized offering that is set to fit all kinds of business and business functions.