What is Intelligent ERP
Intelligent ERP: The Backbone of Digital Transformation. Today's systems of record have been
overtaken by new systems of intelligence, which deliver automation, contextual collaboration
and AI(speech recgn, self driving cars). IDC calls this enhanced ERP portfolio "intelligent ERP"
or "i-ERP," and it is the backbone of digital transformation.
Contextual collaboration is a new approach to collaborative software that involves
embedding all the relevant applications, such as word processors, enterprise instant messaging
(EIM), shared calendars, and groupware, into a unified user interface that uses presence
technology to enhance collaboration.
New release 1811 release
Four area of Artifical intelligence.
Manage cost centers
Supervise collection worklist
Monitor payment
Display correspondence history
Co pilot
Intelligent ERP Next frontier for SAP customer, it is about automated process, empowered
employees, revenue creation all this with ease in intelligence
To enable intelligence we rely on three core technologies
1 Digital assistance- to reduce the work of end users and to focus on what is really important.
Eg : SAP co Pilot – smart buying
2 Machine learning- to reduce task and free up the resources for value generating stuffs
3 Predictive analysis- it is embedded intelligence which is focused on the future and not on the
past
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[Link]/s4 -cloudrelease
Sap hana road map
S4 hana play list
Enhance financial planning and analysis
Accelerate planning cycles, increase profitability, and make finance functions more efficient. You can
also run on-the-fly financial analysis at any level of granularity and support ad hoc simulations of
organizational changes or new business models directly within your ERP system.
Simplify accounting and financial close processes
Combine financial and management accounting and profitability data into a single universal journal,
for a single source of truth. You can close the books in real time, improve compliance and control,
and reduce closing effort, while drilling down on reports by any dimension.
Improve treasury and financial risk processes
Integrate cash flows, transactions, commodity positions, and market data, and accurately forecast
cash flow, manage liquidity, and mitigate risk. In addition, full-view and real-time analysis, audit trails,
and compliance reporting help you optimize straight-through processing.
Support collaborative finance operations
Automate receivables and payables processing and streamline shared services delivery. Improve
working capital and financial health with real-time data to assess customer credit risk, streamline
billing, resolve disputes, and prioritize customer collections to reduce days sales outstanding.
Manage enterprise risk and compliance effectively
Integrate and automate risk, compliance, and international trade activities to proactively minimize
risk and compliance violations and detect, investigate, and deter fraud. In this way, you can optimize
business operations, protect assets, and improve financial performance.
Intelligent ERP systems offer many benefits, including:
• Machine learning (ML);
• Enhanced business processes;
• Differentiated user experience (UX); and
• Product improvement.
Specialists say that iERP is the next wave of enterprise applications, but what do we exactly
expect from iERP (intelligent ERP)?
Here are a few things to look for:
Machine Learning
Intelligent ERP applications make use of Machine Learningand advanced analytics
to predict, track, study, analyze, report, and manage business operations and
company resources efficiently.
The features of iERP systems are adaptive, assisted, conversational UX and in-
memory computing technology that help in extracting key information and
streamlining business processes.
Further, as an iERP system learns, the application allows you to form forecasting
analytics and predictive solutions. You can use that information to modify and
reconfigure business development.
Enhanced Business Processes
With the proficiency to learn from exceptions and getting accustomed to business
rules, iERP allows its users to get new insights, have accurate forecasts and
predictions, set process automation, and develop recommendations for further
steps. Users can seamlessly monitor information and set up defined targets for
business transactions or forecasts. Once done with the setting up targets, any
information obtained will help users adapt and perform any changes required
quickly.
Enhanced User Experience:
Another vertical of benefits of intelligent ERP systems is that they can affect the User
Experience (UX) and influence the way your employees do their tasks. However, previous
ERP software required manual interpretation to extract the data they needed to do the
tasks, often entangled in discussing it at length than before putting it into play. Intelligent
ERP systems can efficiently do much of that busy work, enabling users to accomplish their
tasks.
Product Quality Improvement:
By integrating intelligent ERP, manufacturers can improvetheir products and
materials two folds. First, manufacturers using iERP can have the opportunity to
form an open system of communication with their employees. Thus, improving the
development of products. Second, by using the automatic suggestions for
improvisation, manufacturing sector can use the iERP for making certain
adjustments to their products, inventory, or often overlooked manufacturing
processes.