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The use of AI (artificial intelligence) in the enterprise technology ecosystem has always been a hot topic among industry gurus. It is the age of AI and its scope is traversing beyond smartphone use, as it has paved way into the realm of ERP (enterprise resource planning) technology as well. Yes, artificial intelligence is proving out to be an excellent tool to optimize operational models and transform business operations for organisations all over the world.
A few years ago, advanced AI tech was exclusive and costly due to undeveloped and controlled tools. It required highly skilled people and gigantic data storage centres for pattern recognition. Nevertheless, times have changed and a number of enterprise software vendors are incorporating AI functionalities into ERP solutions these days.
Impact of AI on ERP
AI powered ERP solutions can greatly affect the core of an organisation’s daily operations by streamlining several mundane tasks, curbing operational expenses and eliminating human errors. AI can be customised to learn various critical business processes for competitive edge. Advanced ERP applications with AI functionalities can assist businesses in discovering and leveraging gigantic volumes of structured data. The massive volumes of data generated can be utilised by businesses to eliminate error-prone mundane tasks and optimise operational processes. AI when combined with automation functionalities can free employees from the monotonous and manual interactions with an ERP software.
ERP maintenance is another aspect that can benefit greatly from AI. This is because, AI powered ERP systems would put to use a digital assistant to help technicians figure out the root cause analysis for all kinds of maintenance problems.
Also Read: Teaming up ERP with IoT & Big Data to deliver Actionable Intelligence
Artificial Intelligence and the future of ERP technology:
The AI market is expected to grow by leaps and bounds in the next few years. Thus, the potential for AI powered ERP solutions is colossal and beyond one can envision. Artificial intelligence is reshaping the entire ERP software ecosystem thus, transforming business processes. Data mining abilities of an advanced AI system when combined with the automation prowess of an ERP software can bring in excellent value to a business. However, note that we are not talking about AI powered robots here. As of now, it is useful in materialistic ways only though it can impersonate distinct functionalities of a human mind such as behavioural and learning patterns that a business can apply to all the unstructured and structured data derived from an ERP system.
Debates on AI (Artificial Intelligence) have been making quite a few rounds of late. From whether robots will take over human jobs to the mere assumption of a virtual computer simulation, there has been a lot of hullaballoo surrounding AI, virtual reality and augmented reality and its possible applications. Adding to the debate comes an intriguing statement from Elon Musk, Tesla and SpaceX CEO, wherein he stated: “there is only “one in billions” odds that we’re not living in a computer simulation.”
But before letting our imaginations run wild, let us actually look how artificial intelligence is transforming the way salespersons are interacting and connecting with prospective customers and closing deals successfully.
1. Drafting E-mails
By identifying patterns in emails utilising natural language processing, AI powered CRM solutions can very well predict your responses and will even draft e-mails for you accordingly. Further, these CRM tools over time can learn to pay heed to contact names, addresses, dates, key phrases and can shoot off responses for simple stuffs such as availability eventually helping in complex business tasks like finding out resolutions to specific queries or helping you select appropriate e-mail attachments.
2. Managing Calendar
This particular feature seamlessly integrates with e-mail. Imagine all your client calls, meetings, etc. scheduled automatically for you. You already are witnessing this when your smartphone automatically links phrases such as “tomorrow afternoon” in your text inbox to calendar. Brace yourselves, as things will be getting more interesting with the emergence of novel tools that will automate all those time-consuming calendar management tasks. Long story short, AI powered enterprise solutions will render businesses with personal digital assistants of their own.
3. Finding Quality Leads
A pool of data is generated during the early sales stages and it can be challenging to organise and analyse the mammoth of information at hand. AI powered CRM solutions will assemble all this data. In addition, predictive lead analysis will indicate where to focus more. It does so on the basis of interactions and frequency of leads that a sales rep has had in the past. This is how the next-breed of CRM will change the game of pipeline management for sales ninjas.
4. Improving Customer Relationship
Businesses endure from a number of crisis points when it comes to customers and customer relationship management. They only get to know about a customer when he/she subscribes or purchases and in times when the customer faces issues with the delivered product or service. Whilst businesses intend to develop stronger relationships with their customers, most of them fail to leverage the relevant resources. This is the case until now, as advanced AI enterprise tools will help businesses learn more about customers followed by delivering intelligent insights that can go on to create a strong brand-customers bond.
It is definitely the most interesting time to be alive! Further, with the inception of novel AI tools combined with intelligent enterprise solutions, businesses would gain a competitive edge when it comes to acquiring new customers and retaining them. On the other hand, the AI revolution will also bring customers an inch closer to businesses.
Since their introduction, ERP systems have successfully integrated different business departments, automatized manual processes, and created a channel for the free flow of business-critical data. However, the inclusion of AI in ERP systems has transformed it into a more robust business management tool. Now, it can identify trends, make better predictions, and create targeted marketing strategies. It can also learn from historical customer data and user’s behavioral patterns to provide a personalized experience to customers. AI-powered chatbots allow companies to create a two-way communication channel without any human intervention. It can also conduct social media trend analysis that helps companies know what customers want and what they will be ready to pay for.
To know how AI will transform the way you have been interacting with your customers, prospects and leads, contact us. Sage CRM provides smart analytics to help you revise your strategies. You can also SMS SAGE to 56767 or drop us a mail at sales@sagesoftware,co.in for free demo and consultation.
Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.