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Embracing AI: The Future of Business

As with all new frontiers, knowledge and forethought are key

May 09, 2024

In the rapidly evolving business landscape, artificial intelligence (AI) has emerged as a transformative force. As organizations consider integrating AI into their operations, it’s important that you plan and prepare. Your journey begins with selecting the right Enterprise Resource Planning (ERP) partner, one that will navigate the fundamental changes AI brings, especially in data management.

Data Management and Governance: The Foundation of AI Integration

The ERP system, often the repository of the cleanest data within a company, is central to business functioning. However, to harness AI’s potential, robust data management practices around the ERP are crucial. These include associated applications used for reporting and decision-making. Mature data governance skills help ensure that the data leveraged by AI is accurate, consistent, and secure.

Cybersecurity: The Imperative of Protecting Data

As AI systems process vast amounts of data, the importance of cybersecurity cannot be overstated. Developing strong security skills is essential to protect your company’s data from cybersecurity attacks while safeguarding sensitive information.

Cloud Migration: Unlocking Data and Security Technologies

The third preparatory step you need to take is making the transition to the cloud. The cloud offers advanced data and security technologies, along with Software as a Service (SaaS) integration opportunities. This move facilitates better data-sharing and communication among your team members, partners, and customers, enhancing overall business efficiency across your organization.

Leveraging AI for Digital Transformation

Businesses are leveraging AI to drive digital transformation in many significant ways, including data validation. AI can help you confirm the quality of your data quickly, efficiently, and thoroughly.

Because digital transformation is reshaping traditional business models, it also presents unique challenges and opportunities. Companies that have transitioned to the cloud are well-positioned to bridge this AI divide. For example, AI is revolutionizing finance and accounting functions with tools like Epicor ECM and Epicor FP&A, which utilize AI and Machine Learning (ML) technologies. These solutions  are automating processes to address finance and accounting workload challenges while mitigating the ongoing shortage  of skilled professionals.

AI in Complex Supply Chains

In industries with intricate supply chains, AI can enhance visibility, collaboration, and efficiency, streamlining communication processes and keeping you informed with intelligent alerts in case of any disruptions. This empowers companies to innovate and thrive, freeing up your workforce  to focus on creative solutions.

By leveraging AI, companies like yours can transform their operations, overcome traditional challenges, and seize new opportunities in the digital age. At the edge of this new frontier, it’s essential to have the right solutions and partnerships in place for overseeing data management, cybersecurity measures, and the transition to the cloud. At Epicor, we’re ready to help you make that happen.

The future is here, and it is AI-enhanced business intelligence.

Learn how Epicor AI can help you stay one step ahead.