Win Big with ERP: AI Solutions to Influence Your Bottom Line
Win Big with ERP: Artificial Intelligence Solutions to influence Your Bottom Line
One of the hottest topics in IT today is Artificial Intelligence (AI). By continuing to automate certain functions using sophisticated AI algorithms, one can free up employee resources for more creative activities that will add further value for your business. Although some believe that AI may replace more mundane jobs, our belief is exactly the opposite. AI will help create an increased number of less-repetitive jobs in your organization making it more innovative, more responsive to your customer’s needs, and more successful. AI will also bring operational benefits with an ability to reduce errors and improve processing times for various transactions that will decrease costs and improve customer satisfaction.
AI incorporates the ability to find trends in a large collection of data and provide insights that may not be obvious to a person looking at gigabytes of data. Many AI programs incorporate the ability to learn from previous activities and allow one to develop more accurate forecasts and predictions.
AI technology can make a positive impact in multiple areas of your business. These can include:
- Inventory Management – By helping to provide more accurate forecasts — optimizing supply chains — figuring out the most efficient way to store the inventory — and tracking product lifecycles, various AI techniques can improve costs, decrease waste, and improve cycle times.
- Production Management – Figuring out the most optimal way to process your backlog in your manufacturing plant can become a horribly complex problem. Utilization of AI techniques can figure out the best ways to select what order to process the jobs in your backlog, which machines to use, maintenance scheduling, and overall logistics as the work-in-process moves through the manufacturing cycle. These optimizations can help decrease the amount of capital equipment needed, improve cycle times, and lower costs.
- Sales – One of the most profitable ways of improving your sales is to implement sophisticated upsells and cross-selling approaches. A sophisticated AI algorithm can help by analyzing, in real-time, what additional products to recommend based on previous customer history and other information.
- Financial Management – Besides automating various financial functions, an AI program can help a financial manager make various key decisions, such as how much cash to keep on hand, whether a capital investment will pay off, and double-check financial statements for accuracy.
- Marketing – A key marketing function is to develop the best and most effective message for your marketing campaign based upon a variety of factors. These include customer demographics, competitive challenges, historical performance, product attributes and many others. Analyzing these factors can involve looking at a great deal of data. By utilizing advanced analytics, a good AI program can help a marketing manager sift through all these factors and create the most effective marketing campaign.
As part of our mission to be a business process improvement company, My Office Apps, Inc. is committed to providing continued improvements and incorporate various advanced AI techniques in our Kechie™ ERP software. Our goal is to provide the best solutions for small and medium sized businesses with the latest techniques to contribute to the success of our customers. In the coming weeks, we will post additional articles that describe some of the specific AI features we have already incorporated into our Kechie software and also provide a roadmap for other features we expect to implement in the near future. Our focus is not to provide AI for AI’s sake, but rather to implement practical AI functions that can make a real difference to your bottom line. For more information, visit www.myofficeapps.com, or better yet, call us at (949) 486-1947 and we will schedule a demo so you can view these features for yourself.
What are the Primary Benefits of an ERP System?
What are the Benefits of an ERP System?
There are many advantages to an ERP (enterprise resource planning) solution. Though there are some perceived disadvantages such as increased costs, (we dispell that myth,) the benefits outweigh the perceived disadvantages. Many companies are unaware of what an ERP system can do. ERP software is used to create visibility into the company data, simplify operations, and streamline your business processes. We prepared an analysis of the most important benefits of an ERP software.
1. Total Visibility
To be able to see into your business processes is more valuable than an everyday commodity. Every business needs to be able to look at data from various departments, and how they are interacting. This is the main benefit of ERP software. It allows a business to control inventory levels based on the data they receive. This provides the company access to information that will allow them to forecast, and make better decisions when purchasing future inventory, in turn, saving money. Using reports generated from the system, you can analyze and compare production, tracking, and workflow within every department. A huge aspect of any successful business is the ability for the different departments to interconnect. This is done through collaboration that is provided by an integrated ERP solution.
2. Simplified Business Processes
A simplified business process allows a company to streamline their business operations. When a company can standardize their processes, it provides a greater efficiency and potential ROI. Because the processes are automated, there’s no room for common errors, duplicated content, or forgetting the necessary processes with the right ERP solution. Employees get to have access to data whenever they need it, so they can make informed decisions without having to wait for time-consuming, costly email responses. With customizable features, each department can see what they need to, without seeing a flood of irrelevant information. Some ERP solutions like Kechie, even provide customizations down to the user-level, so that you can get into the software and see only what you want. Real-time data, with real-time access allows businesses to focus on what really matters in their companies.
3. Fully Integrated ERP Solution
An ERP solution that is already Fully-Integrated is much easier to work with, than purchasing various pieces of software, trying to connect them together. You get real-time data, automatic updates, and accurately communicated data. This is important when it comes to streamlining any business. Employees need a consistent user-interface from an easy to use software that won’t require much training. You might think that all ERP software is fully integrated based on the definition, but not necessarily. When a software is fully integrated, that means you don’t have to have different software to try to accomplish your everyday tasks. While it is important to have third party integrations (ex. Shopify, Woo Commerce,) it’s also just as important to control your inventory without having to customize the software with a separate module, hoping it will work.
ERP software has many benefits that let you get insights into your business to make the best decisions. By streamlining your operations, you are increasing your ROI and improving your workflow, as well as, the collaboration of your departments. When your business is fully optimized by an ERP solution like Kechie ERP, it can drive increased profitability, streamline operations, and let you focus on what matters to your business.
