More and more organisations are revamping their current enterprise resource planning (ERP) setup by exploring the positive impact of technologies like cloud, artificial intelligence, machine learning, blockchain or augmented reality and its organisational outcomes.
AI and Machine Learning
A large portion of enterprise operations is represented by reconciling data for inventory and processes, as well as reporting. In financial operations, manually processing payments to suppliers and other stakeholders can be a significant challenge for growing businesses.
ERP software has an advantage over manual processing as it centralises accounts and streamlines repetitive processes such as reconciliations and reports while keeping tighter controls on transactions and potentially avoiding attempted frauds.
Artificial intelligence and machine learning in ERP can assist businesses in making faster and better decisions on operations with less probability of faults by focusing on specific activities and enhancing human decisions rather than completely overrunning the system.
Acumatica is a software technology provider, offering a cloud and browser-based Enterprise Resource Planning (ERP) solution for small to medium sized businesses (SMB’s). Acumatica’s ERP system is built on its own platform. The software can be deployed on premise, hosted in a data centre or run on a cloud-computing platform and can be licensed or purchased.
Blockchain technology is gaining interest in the enterprise market. Blockchain in an ERP environment can have beneficial results at an operational level, with already promising applications in supply chain management, transport and shipping.
Although in its infancy, blockchain-derived improvements in tracking, traceability, anti-tampering and cost savings, may be highly valuable to enterprises in the near future, and suitable for ERP integration.
ERP functionality hosted in the cloud is becoming a more popular and affordable option for companies looking to transition from outdated on-premises software with mobility and accessibility in mind.
According to Mike Guay, research director at Gartner who focuses on ERP technology, Acumatica is making inroads on smaller companies in the $5 million and larger category, as opposed to most ERP vendors focusing on the higher enterprise level – over $200 million in size.
Acumatica offers a cloud and browser-based Enterprise Resource Planning (ERP) solution for small to medium-sized businesses (SMBs).