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Why Intelligent ERP Systems Are The Secret To Growing A Company’s Competitive Edge

When the pandemic hit us suddenly last year, we were forced to adjust our live personally and professionally. But, now that things seem to be normalizing again, how do we as a society go back to some form of “normal”? While it won’t be the same normal pre-pandemic, it will be as close to normal as we can get. Businesses these days must observe and act on even the slightest changes in consumer behavior and habits to success in this post-pandemic economy. What’s the best way to monitor this change? Intelligent ERP. SAP’s Oliver Schoenborn shares an interesting article on Forbes explaining why intelligent ERP systems are the secret to growing a company’s competitive edge. “Moving from reactive management to proactive management,” says Schoenborn, “businesses facilitate data-driven decision-making using predictive analytics and act on insights with a collaborative network of suppliers, service providers, and employees.” This can happen by developing a core set of new ERP software requirements to help them compete more effectively, grow revenue, and increase agility and resilience. Businesses that have application and business processes embedded with data intelligence, advanced analytics tools, simulated modeling, and guided decision-making allows their employees to reduce the urgency when matters arise and the needs to manually handle redundant tasks. With intelligent ERP, by predicting challenges and solving them before they become customer issues, organizations can focus on more strategic activities, says Schoenborn. As much as we want out pre-pandemic lives to come back, we are always an ever-growing, ever-evolving society. With intelligent ERP, businesses can keep up with our constant changes and behavior patterns.

 

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4 Powerful Reasons Why Your Business Needs a Social CRM

In the digital age today, consumers have access to anything and everything in real time. This proves a powerful took for customers and their expectations are at the highest, putting pressure on the brands they like to better understand and cater to them. The best tool to control customer behavior for a company is a customer relationship management (CRM) system. These systems help companies know their customers through interaction, purchase history, and predictive trends. With social media being an invaluable tool for information. connecting social platforms with CRM should be a priority. Social CRM integrates your brand’s social media presence and campaigns into your existing CRM system. An interesting article on Innovation & Tech Today provides 4 powerful reasons why your business should have a social CRM strategy in place.

Social Media Analytics. “When using CRM, your brand can access comprehensive information about your customers such as demographics, interests, goals, and buying behavior. With this kind of information, your sales and marketing teams will better understand their target market, allowing them to concentrate only on authentic leads, which improves the probability of converting into sales.”

Unified Social Communication. “When you have customers interacting with your brand from different platforms such as emails, social media, chats, and phone calls, keeping track of all these channels can be challenging. With a social CRM, it is possible to stream all the notifications from the various social platforms in one place.”

Damage Control. “With a reliable CRM in place, you can promptly respond to customer complaints before the situation gets out of hand. Keeping track of negative comments and criticism can help your brand make improvements and meet the customer’s expectations.”

Today’s business is all about understanding the customer. With social media being a main platform for consumer behavior, it’s critical to put a social CRM plan in place with your existing system.

 

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Unlocking business potential with AI-integrated ERP software

There is no doubt that Artificial Intelligence (AI) is here to stay, and is revolutionizing the Enterprise Resource Planning (ERP) space. Mark Bowen at Intelligent CIO recently shared how the partnership of AI and ERP is going to affect the “very essence of the system-controlled business operations.” AI-integrate ERP systems can unlock the hidden potential of your business data.

Impact of AI on industries

  • AI in manufacturing – AI technology help ensure faster production in less time. From planned preventative maintenance to every other operation performed in any manufacturing plant, AI would make them more efficient and less prone to errors.
  • AI in retail –  Virtual reality functionalities in advertising, intelligent chatbot customer service and extensive customer behavior profiles are just a few areas where AI would thrive in the retail industry.

 

AI is transforming the way ERP functions

Integrating your ERP system with AI opens a world of opportunities and shed some light in your daily operations. With detecting customer behavior patterns and performing routine tasks, inclusion of AI in ERP systems can provide the following benefits:

  • Identify the problems even before they occur
  • Automates routine tasks with system intelligence
  • Improves user experience through interaction

AI is still in its early stages, believe it or not. Though it is no doubt that AI will be a part of ERP systems moving forward. So be ready for this change if you want your business to remain competitive in the years to come.

 

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