The future of ERP isn’t about ERP, at least in the traditional sense of managing transactional business processes. The future is increasingly about delivering contextual intelligence through an ecosystem of industry-focused platforms, cloud technologies and AI capabilities that enable real-time decision-making and automation to optimize key business flows – both within an enterprise and across supply chains.
Epicor calls it “Cognitive ERP.”
We believe global companies across industries have an opportunity to do more than just get supply chains back on track, but also prevent future disruptions by fundamentally improving how they operate through increased connectivity, collaboration, and trust. Our vision of cognitive ERP is insight-driven ERP that is industry-specific for customers and brings forth the greatest strengths of software to serve the ecosystem.
So, fundamentally, what makes cognitive ERP – well – cognitive?
The Building Blocks
At its core is the existing ERP capabilities, acquisitions, and partnerships that all allow Epicor solutions to aggregate data from different, relevant areas. The portfolio is comprehensive and industry specific. From there, our ERP systems connect to thousands of applications with embedded integration platform as a service (iPaaS) for workflow automation, open application programming interface (APIs), and the Epicor Data Fabric. All of this allows Epicor to connect more resilient integrations across the ERP, to generate industry data feeds, and centralize more information than ever before. Finally, as these connections are made, the data cloud makes the insights actionable. Grow, a full stack BI Platform with a data lake surfaces industry insights and uses generative AI to help workers understand, digest and act on their industry-wide data.
What does this mean for your business? Cognitive ERP is open, secure, resilient, scalable, and actionable. It moves your ERP away from just being a source of record and towards a data-led, actionable system that works for you and with you. Let’s look deeper into how that is possible.
What does cognitive ERP allow businesses to do?
Build digital ecosystems
A digital ecosystem allows your ERP system to pull data from relevant, production-related sources that ultimately influences your customer’s experience. In order to do this, the ERP needs to be open, connected and secure – all part of the cognitive ERP building blocks.
When production networks are connected, and not operating as a single node, businesses can unlock automation to personalize customer experiences, innovate new technologies, and deliver exceptional results. Epicor integrated Epicor CPQ into our broader Industry ERP Cloud portfolio to allow our customers to leverage automation services that configure accurate, personalized orders and build and service them for their customers. By creating a digital ecosystem that allows connected automation, businesses can use data as a competitive advantage to deliver repeatable, personalized customer experiences.
Assist workers with AI
Epicor believes in people-centric technology. We look to ensure that customers are empowered with integrations, automations, and artificial intelligence needed to grow their business and boost profitability.
Across the Industry ERP Cloud portfolio, Epicor connected hundreds of thousands of devices to help workers be safer, produce higher quality products, and work more effectively. Epicor Connected Process Control, enriched with Grow BI and AI, enables businesses with these capabilities. For example, as qualified labor is in short supply and turnover continue to be challenges for businesses across the supply chain, AI can provide step-by-step digital work instructions on the shop floor for new hires, while monitoring for accuracy and safety. Applying innovation to aid workers – instead of replacing them – is the future that cognitive ERP can provide.
What is the vision for the future?
Supply chain disruption remains a critical challenge for businesses in the make, move, sell economy. The dynamic nature of disruptions hinder leaders from making the most educated decisions for their businesses. This is why the transactional ERP system won’t be enough to help businesses compete in the future. Epicor is uniquely positioned– serving over 21,000 businesses worldwide – to innovate on optimizing the global industrial supply chain. And we’ve already started.
Co-innovating with advisory board customers, acquiring companies like Data Interchange, and integrating new technologies allows us to help enterprises connect suppliers worldwide. In fact, our EDI portfolio connects thousands of trading partners that share information in real-time, and collaboratively make informed decisions to move product around the globe, faster, safer, sustainably and more cost-effectively.
Unlocking the power of cognitive ERP and applying the innovation to the world’s most essential businesses will bring forth the greatest, most unique strengths of Epicor to serve our ecosystem. Gone are the days of transactional ERP, and ahead lies a world of automated, and increasingly cognitive business solutions.