Artificial Intelligence (AI) is booming technology in digital space today. It is giving wings to business operations by introducing efficient yet robust ways of revamping them. The scope of AI has extended far more than AI tools and apps. It tends to transform the way other potential business applications used to operate. For instance, Enterprise Resource Planning (ERP) system itself is versatile enough to automate certain routine processes of businesses in a frictionless manner.
AI capabilities are intersected with the ERP system to optimize the success of businesses. Directly built into an ERP system, AI helps in fast learning, processing, and automating the regular functions. There are certain aspects that can be improved through this combined power and businesses can get the most out of the technological conjunction.
What is Artificial Intelligence?
It is a technology that imitates human intelligence. It has various branches such as machine learning, natural language processing, etc. in which an AI model learns from huge data, get trained, and tested against certain use-cases. AI automates the process humans used to perform.
There are multiple astonishing applications of artificial intelligence (AI) that have already created a buzz in the digital space due to its potential and disruptive capabilities. For many years, AI was in its improvement phase. The more the data it utilizes, the better results it yields. Finally, AI has penetrated into the automation of business processes in order to enhance business productivity and efficiency.
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Cloud ERP
Businesses are more vigilant in the adoption of cloud solutions. The major reasons are that cloud storage is highly cost-effective, robust, and quickly accessible. Cloud ERP is one of the potential applications that leverage millions of data points to improve the developed machine learning models embedded in the system. The instant availability of data, its protection, and processing make cloud ERP a necessity for businesses.
Below are some benefits of employing cloud-based AI and ERP in an organization;
1. Sales Automation
For any organization, smooth sales funnel management is crucially important. To improve leads and sales management process, organizations can utilize an ERP system that helps automate all the modules and sub-modules associated with the sales process. AI helps enhance the process of sales automation through automatic scheduling of calls, meetings, and emails with the clients. The system reminds and creates alerts about the upcoming commitments readily. This helps streamline the process of sales management and ultimately increases the instances of customer acquisition as well as customer retention.
2. Customer Service
For organizations, it is crucially important to improve customer satisfaction to increase brand reputation in the market. For the purpose, excellent customer support should be ensured. AI-enabled chat bots embedded with the ERP system instantly address the customer queries to enhance the customer experience. Now instead of manually handling customer concerns, AI has made the process fully automated and user-friendly which adds to brand credibility.
3. Advanced Analytics
In the ERP system, this is one of the most versatile features. Cloud ERP collects a plethora of data from websites and users. The data corresponds to some parameters such as website traffic, customer revisits, and customer churn rate, etc. to predict customer behavior and interests. AI model takes these attributes as input and gives useful insights about the business’s performance. It forecasts the business revenue to be generated in a particular time span, business growth, performance of marketing campaigns, and failed payments. Businesses can take advantage of these valuable insights to improve productivity, employ dynamic marketing strategies, or optimize customer experience accordingly.
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4. Enhanced Customer Experience
This benefit is connected to all the other benefits discussed above. For instance, an automated sales funnel process would mitigate the risks of customer churn rate. Excellent customer service will satisfy the clients and increase the chances of customer acquisition. Advanced analytics is more advantageous in this manner. For instance, while grabbing the patterns about customer behavior and interest, businesses can revamp the infrastructure in such a way that they align as per the expectation for customers.
5. Warehouse Management
It is the most critical task in an organization that like many others directly impacts the brand image. AI has streamlined the warehouse workflow for organizations. Using AI, the order could be monitored in real-time, tracked, and evaluated until it gets shipped to the customer. AI predicts the possibilities and ensures a seamless supply chain process by managing the inventory, equipment, and order in an organized manner. A centralized view of all the supply chain data helps businesses view, access, and update it in a highly convenient way.
The Bottom Line
To sum up, organizations are making investments in cloud ERP solutions that harness AI strong underlying algorithms and help businesses in automating most of their operations. This does not only increases business productivity and revenue but also helps them in gaining customer satisfaction. AI has reformed the entire business operational infrastructure and now with the fusion of ERP, it is paving roads to success for business entities.
