Smarter Decisions Start Here: Benefits of AI Reporting in Leading ERPs
by Sam Power on
Implementing an ERP (Enterprise Resource Planning) system can be daunting for any organisation. However, as your business grows and the volume of data increases, it quickly becomes a vital investment for managing and connecting every area of your operations. With continuous advancements in AI, modern ERP reporting capabilities do much more than just display figures on a dashboard, and can now provide intelligent insights that help business leaders make smarter, data-driven decisions.
In this blog, we will outline the key benefits of modern ERP reporting capabilities and how it can transform data and analysis into actionable insights that drive business success.
Faster, Smarter Decision-Making
Where traditional reports were often collated in end of month data reports. Modern ERP AI reporting features enable organisations to make faster, more informed decisions by instantly analysing the live, up to date business data. This removes delays in delivering any information requested, which previously relied on manually retrieving and putting together the data. By having instant access to accurate insights, it enables business leaders to respond decisively to changes as they happen - creating a more agile, fast-moving environment.
Additionally, modern natural-language query features such as NetSuite Next and Miscrosoft CoPilot will allow users to ask prompts such as “show me the current cash flow trends” and receive insights drawn from live up-to-date data, often within seconds of asking.
Greater Accuracy & Fewer Errors
Manually processing your financial and operational data can often lead to errors, delays and less accurate information being collated. Modern ERP systems reduce human error by automating key components such as data collection and analysis. Built-in AI reporting tools are able to detect anomalies and inconsistencies within the data, ensuring that the information provided is reliable and up to date. This enables organisations to free their employees from time-consuming manual tasks and provide more efficient, accurate audits.
Predictive Insights for Proactive Planning
Before the introduction of AI within ERP systems, business reporting focused on analysing what had already happened. AI-powered forecasting tools in leading systems such as NetSuite and Microsoft Dynamics 365 Business Central, now allow organisations to take a proactive approach by using historical and real-time data to identify trends and predict future performance. This allows business leaders to make decisions based on potential, forthcoming challenges e.g. cost increases – therefore, providing a forward-looking plan of your financial and operational success.
Unlock the Future of ERP Reporting with AI-Driven Insights
ERP reporting is starting to transform how organisations operate, enhancing traditional reporting tools within leading systems such as NetSuite and Microsoft Dynamics 365 Business Central. If you would like to find out more about the capabilities of each system, you can register for our upcoming webinar, where we will dive deeper and provide a unique, unbiased perspective on the AI and reporting capabilities of both of these leading systems. Register here!
For more information on how we can help you solve your current business problems, get in touch with our expert team today!