What is i-ERP and why to adopt it and Is It Right for you?
Why adopting Intelligent ERP cant wait
From fragmented ERP system to an Intelligent ERP or i-ERP solution. A term coined by IDC:
“i-ERP differs from legacy solutions because they’re specifically designed to automate and optimize business processes through machine learning and advanced analytics.”
– Mickey North Rizza, IDC
Why to adopt i-ERP and Is it Right for you?
i-ERP comes with a mix of advance analytics and machine learning, blockchain technology, massive data sets, a focus on user experience, cloud and the Internet of Things. It offers massive opportunities for enterprises to compete in hyper competitive landscapes. These technologies give companies the ability to change business models, optimize processes and resources, create new products and services in the digital economy. Specifically, in the manufacturing environment, this leads to smart factories and smart products.
What all of us may think of that all those complex solutions are “out in the future”. The future is indeed Now! Smart tools are getting integrated and creating Intelligent Enterprise Now. Thus, the opportunities are tremendous, and if you do nothing you could find yourself not just left behind, but left out, far behind of competitors. Sounds unreal or scary?
Here are some key examples of the benefits that smart application strategy can bring:
Real time analysis and decision making
Every company collects large volumes of data daily, internally and externally. However, massive valuable, much needed intelligence data left unused. Understanding the importance of getting the most value from all data and quickly realizing the opportunities increases the power over the competition. McDonald’s UAE standardizes processes and simplifies system maintenance, and accelerating the introduction of new innovations. Read more about their business transformation news
Connected user experience
Connecting People, employees, vendors, and customers to relevant data points is critical to meeting everyone’s expectations, where unified solutions, apps and tools that provide an environment where your employees can be more productive and engaged. Unfortunately, many companies spending years adopting different ERP tools and customizing functionalities which are not catering their future growth strategy. Consequently, the ERP landscape becomes complex and challenging to maintain and integrate with Smart tools.
Smart actions and reduced bottlenecks
Employees of every organization want to understand and make data driven smart actions. Data timing is extremely important for confident decision making. Hence, on time smart actions can be made with real time data. Without access to real time information, complete data set, growing business and compete with rivals is extremely difficult. Leaders must make decisions by sensing what is happening now and what may occur in the future. For setting the right course of action to mitigate risk in the future, companies need an Intelligent ERP.
Take for example our customer ASMAK. During our interview with Mamoon Othman, Chief Executive Officer of IHC, he mentioned “The key challenges we were looking to overcome with SAP implementation included the lack of online processing of transactions leading to manual input and higher risk of human error, lack of online data for effective decision making, supply chain and production inefficiencies, high inventory level, inventory loss, customer dissatisfaction due to inconsistent quality and late deliveries, and non-traceability of products across the supply chain.” Read full interview here:
Ultimately, moving from a legacy ERP to i-ERP technology goes in hand with moving in real time with operational intelligence and data driven analysis. It goes right with moving business forward proactively optimized operations and resources, strength of its employees, vendors and customers behind connected tools. i-ERP, along with other key intelligent applications, will be the technologies that executives turn to so they can remain competitive.
“For our customers, we certainly play an advisory role but we also find we need to play a challenging role,” said Seidor MENA managing director Ignacio Ruiz de Eguilaz.
“While being a strategic IT solutions partner for our customer, being an advisor to our clients is important, being willing to also push them is absolutely essential for us to help them answer the question of, ‘Why are we doing this project? Why do we want to go in this direction? What are the primary reasons?’ And sometimes we even have to ask them to consider, ‘Does what we’re thinking about actually make sense?’ ”. Full interview with Bob Evans can be accessed here