Intelligent ERP - Enterprise Need In 2023

Digital transformation is the game changer in how enterprises do business. It is changing the process of how enterprises used to do business earlier 

Nowadays businesses want configurable applications, advanced analytics tools, applications embedded with data intelligence, etc. And there is good news that intelligent automation integrated into ERP has been developed and there is no doubt that intelligent ERP is growing at an exponential rate.

We have to agree on the fact that artificial intelligence is capturing a lot of eyes and it’s for all good reasons. Intelligent ERP is a growing trend in the field of the enterprise software world. ERP software has come on a long way since its introduction from simple finance and accounting software to cloud-based intelligent ERP powered by Artificial intelligence and machine learning. Intelligent ERP is pure bliss for modern businesses.

Let’s Now Understand What Intelligent ERP is all About.

What is Intelligent ERP?

Intelligent ERP is a type of ERP application that uses advanced analytics and machine learning features built on a large curated data set to study, analyze, predict, track, prepare a report, and manage the business process by utilizing IOT, cloud-based services, and AI machine languages.

This software helps in streamlining business operations, boost efficiency help in allocating resources, save time and money, and help business to make informed business Decisions.

Benefits Of Intelligent ERP

• Improved Business Process 

One of intelligent ERP’s winning features is its increases productivity by tenfold. This AI Integrated ERP helps businesses to consolidate, organize and evaluate various data in real-time with ease.

In nutshell, this smart ERP helps in maintaining all the data, information, and communication in a cloud. This saves your business from data loss, crashing hard drives, mixing information, etc.

Also, it helps your employees to work remotely, this will increase business productivity especially when most team members are not in the exact location.

Over the past few decades, AI has been a tremendous innovation and game  changer, they have minimized human error and boosted accuracy, no doubt that AI has given a quick boost to the ERP market. And why not, an outdated ERP  can be risky to an organization but with the installation of AI in the ERP market businesses can now make quick and efficient decisions.

You can check Odoo ERP development, which has all the capabilities of integration, customizations that any intelligent ERP system will requires

• Security Improvement

Data security is a big concern for businesses nowadays and this is one of the crucial reasons why businesses are moving towards intelligent ERP.

This AI-integrated ERP offers superior security to all types of businesses. This ERP has a built-in security feature that will help to safeguard your business data. Intelligent ERP adheres to strong security policies right from the beginning, so there are no data breaches./span>

Further, there are various security features that are integrated to offer a higher level of safety.

1. 1. – Data Encryption 
   2. – Automatic Updates 
   3. – Numerous Levels of Backup and Recovery 
   4. – Malware Protection
   5. – Disaster Recovery Option

• Improvement In Reporting 

For years ERP software has evolved from being just an accounting, resource and sales management tool. And with the latest addition of AI in ERP, the features of ERP have increased tenfold.

Intelligent ERP helps in generating reports by organizing all data and doing in-depth studies of various data. Thus, automated reports prepared by ERP help executives and managers to focus on more strategic tasks and thus saving time and effort for the employees. This report helps in quickly analyzing and further helps businesses to accelerate their business decisions.

Check out with Odoo Consultant that Odoo ERP, one of the most affordable intelligent ERP solutions has the features of issuing tasks, tracking deadlines, performance analysis, preparing progress reports, etc.

• Affordable

Unlike on-premise ERP systems intelligent ERP have low implementation costs they are affordable and also easy to implement. This ERP system is ideal for small-scale businesses or startups or any medium or large enterprises. Also, there is no scenario of expensive license costs in intelligent ERP when developed using Odoo.

With a subscription-based or pay-as-you-go model of intelligent ERP, you can pick on any option as billing works in your favor. Also as data is stored in clouds it eliminates the need for data centers or data servers and helps in saving infrastructure and implementation costs. We can say that the ROI associated with intelligent ERP is significantly easy to cover up.

• Business Intelligence 

Unless traditional on-premises ERPs, and intelligent ERPs are embellished with the latest technologies, This intelligent ERP offers smart solutions for improving the efficiency and productivity of your business.

One of the exciting feature of this cloud-based ERP is that that comes with a dashboard that has a single screen which will allow getting an overview of your business in a blink of an eye.

This will help you to do a SWOT analysis, of strengths weaknesses, opportunities, and threats. This AI-integrated software helps your business to process the data at supersonic speed. With help of intelligent ERP, you can tap into real-time data from various departments and can make the right conclusions.

• Forecasting 

These AI driven ERP solutions help businesses to make predictions based on historical data. Business intelligence makes it possible to do predictive analysis and Forecasting with help of historical ERP  data and provide your business with deep insight by evaluating past performance.

This ERP helps in identifying the patterns from past data and identifies various trends on the basis of customer behavior, geographical location,  Demographics, etc.

The predictions made by intelligent ERP help you to evaluate future business outcomes, help to plan the production in advance and lastly help the business to reduce the risk of unexpected changes. In nutshell intelligent ERP gives the business a complete picture of its past, present, and future.

• Advance Analytics

Intelligent ERP has the ability to perform data analytics to gain real time and accurate insight from mountain of data.

All these cloud-based ERP offer competitive metrics, chart based metrics provides a deeper understanding of business and help organizations to take the right business decisions that would faster the growth of the business.

• Automation Boosting 

Manual data entry increases the chances of human error and heavy workloads for your employees.

But an intelligent ERP aims at automating the process by eliminating the extensive, repetitive task and helping in reducing the staff workload. Thus help in increasing operational effectiveness.

• Easy Integration 

Intelligent ERP helps in integrating the data of various departments from finance, HR, and operations into a cloud. This reduces the effort of importing the data from other organizations when required.

All the data is stored in one place making it easy for employees to extract the important information, resulting in a streamlined workflow and connectivity between each department.

Due to this businesses can carry one consistent truth across the organization by eliminating the risk of missing value and data inconsistency.

• Inventory and Warehouse Management.

Intelligent ERP helps in the warehouse and inventory management, they have algorithms to track an item from the manufacturing stage, process stage, and storing stage until the moment product is sold.

It also has in demand and supply analysis of the product , supply chain distribution, etc. 

Below are various benefits of AI-integrated ERP.

1. 1. – Stock traceability 
   2. – Real-time, remote warehouse management 
   3. – Inventory management and distribution system
   4. – Cost of inventory and accounting data process.

• Customization 

One of the exciting features of this AI-integrated ERP is that it can be customized easily and can be tailored as per  your business needs.

Also the upgrade and update process is quite easy or we can say that it is automated in modern ERP as compared to traditional on-premises ERP,  as earlier it get difficult to reimplement them with upgraded version especially if it integrated are developed on-premises.

Also, this intelligent ERP system tends to perform well with other cloud-based ERP tools or business intelligence tools. This kind of adopting feature of modern ERP helps businesses to take more proactive measures. You can take the example of Odoo ERP development. It is highly customizable and it allows companies to add or remove the modules as per their requirement as Odoo ERP is an open source 

• HR and Payroll Management

This intelligent ERP not only helps in finance, accounting, and operational management but it also helps in HR and payroll management.

Below are some benefits of using intelligent ERP by the HR department 

1. 1. – Attendance management 
   2. – Leave management 
   3. – Keep employee records up to date
   4. – Payroll management 
   5. – Customizable salary structure 
   6. – Tax compliance etc. 

Thus automated HR and payroll management system saves lot of time and reduces manual work.

To Sum It Up 

We all have to agree that intelligent ERP is a buzzword among businesses due to its features, Affordability and convenience. This ERP not only helps in streamlining the business but also helps in gaining ROI. If your business is struggling to find the best intelligent ERP solution then Silent Infotech would love to have a chat and provide you best intelligent ERP for your company.

Connect with our exporters today and know how we could help you to transfer your limitations into business Advantages with odoo ERP development.