Enabling the Outcomes that Continuosly Drive Business Forward
Written by: Mickey North Rizza, Group Vice President, Enterprise Software
Enterprise Resource Planning (ERP) systems are powerful tools that can streamline operations, improve data management, and boost overall business efficiency. But just implementing an ERP isn't enough to reap its full benefits. Here are some key ways to maximize the value of your ERP:
Focus on Business Processes:
Regularly assess your business processes. Are there any that are broken, redundant, or poorly defined? Streamlining these processes before feeding them into the ERP will ensure a smoother implementation and better results.
Identify any potential resistance to change within the organization. If people see the ERP as a burden, they're less likely to use it effectively. Address these concerns and promote the ERP as a tool to improve their work, not replace them.
Invest in User Training:
Targeted ERP training is crucial. Don't just throw employees in at the deep end with a generic manual. Provide training tailored to their specific roles and responsibilities within the ERP system.
Offer ongoing training as well, especially when there are updates or new functionalities added.
Data, Data, Data:
Accurate and accessible data is the lifeblood of any ERP system. Ensure your data is clean, consistent, and up-to-date. This will allow you to generate reliable reports and make data-driven decisions.
Make sure your ERP system is user-friendly and allows for easy data entry and retrieval. Delays in accessing data can hinder productivity and slow down decision-making.
Embrace Continuous Improvement:
The ERP landscape is constantly evolving. Stay up-to-date on the latest features and functionalities offered by your ERP vendor.
Consider potential add-ons, integrations, or customizations that can extend the ERP's capabilities to better meet your specific needs.
Look to the Future:
Cloud-based ERPs are becoming increasingly popular. If you're on a premise-based system, consider migrating to the cloud for greater scalability, security, and access to cutting-edge features.
Emerging technologies like Artificial Intelligence (AI) and Generative AI are being integrated into ERPs. Explore how these advancements can further optimize your ERP for even greater returns.
By following these steps, you can ensure that your ERP system is not just a financial investment, but a strategic asset that fuels your business growth and success.
Future-Proof Your Business: Leverage GenAI for Growth
Current Impact of GenAI in Business:
83% of organizations believe GenAI models that leverage their own data will give them a significant advantage over their competitors.
55% of organizations note that the CIO and IT team actively engage C-suite to gain insights into the benefits, risks, and IT implications of generative AI for the company.
442% believe GenAI will significantly and moderately disrupt their competitive position and operating model in the next 18 months.
19% of businesses globally say GenAI has already disrupted their business competitive position and business operating model.
GenAI and ERP
GenAI and ERP are dramatically changing how businesses run by combining embedded AI processes with complex and diverse data sets, reliable business data, and industry knowledge.
The top 5 use cases identified by organizations are:
Working capital
Project management
Profit and loss
Service management
Manufacturing operations
94% strongly agree and agree that leveraging SaaS versions
of core enterprise applications software will bring faster
access to new GenAI capabilities and technologies
than their competitors.
34% of organizations are purchasing innovation packages
from their ERP vendor to enable AI within their
business processes.
Envisioning the Perfect ERP System
n = 150 and ERP interviews; Source: IDC SaaSPath Survey, April, 2023
Together AI and ERP Bring Intelligence to Business Processes
Together AI and ERP Bring Intelligence to Business Processes
48% find embedded AI functionality is a big factor in their purchase decision of ERP.
45% find AI provides the ability to model future possibilities and outcomes such as cash forecasting and predictive liquidity.
41% are using AI to improve employee productivity, reducing manual e orts and lowering error rates.
38% are using AI to increase competitiveness and market share gains.
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