Exploring the Benefits of ERP AI Chatbots for Your Business
Businesses are doing investments in the field of AI just to make their data more actionable. With the power of AI tools integration with your enterprise software, you can enhance the functionalities of your business and can get more out of it.
ERP AI chatbots are one of the finest inventions of today’s time. With this brilliant concept of conversational marketing through voice or text, these chatbots are exploring new dimensions of businesses. With the development of ERP AI chatbots, businesses are directly approaching to customers to grow business.
In this article, we will explore the benefits of ERP AI chatbot for your business.
1 Definition
What is ERP system?
ERP (Enterprise Resource Planning) system is a software for business management. ERP system uses a centralized database which allows different departments of a business to communicate with each other in a well-organized way.
ERP system provides real-time information and helps businesses to smooth operations and take better decisions. It helps to forecast supply chain inventory to increase the profitability of the business.
The main function of an ERP system is to integrate and automate various functions of a business into one efficient system.
What is ERP bot?
ERP (Enterprise Resource Planning) bots are software applications designed to integrate with ERP systems. These provide a conversational interface for users to interact with the ERP functionalities. These bots have the ability to simplify business processes in an organized way. ERP bot can do inventory management, distribution, job costing, order processing, HR management, Finance, sales, etc.
There are a few types of ERP bots:
- Process Automation Bots
- Data Entry Bots
- Analytics Bots
- HR Management Bots
- Customer Service Bots
- Financial Management Bots
ERP bots can provide users with real-time ERP data, automate repetitive tasks, modify data securely, send notifications and alerts securely, and provide analytics for better decisions.
- Free ERP Bots: Offer limited features and lack functionalities
- Paid ERP Bots: Offer comprehensive and advanced features
2 Reasons to integrate ERP system with chatbots
- Improved Decision-Making
- Data Input Automation
- Streamlining Business Processes
- Supply Chain Management Improvement
- Customer Service Enhancement
Some reasons to integrate ERP systems with chatbots are:
Let’s discuss this in detail.
Improved Decision-Making: One of the main functions of an ERP system is to make business data more easily accessible. This allows businesses to make better decisions. ERP bots can analyze the historical data of any organization and can give predictions to management for better decisions. These chatbots can predict problems in a more effective way and improve the decision-making strategy of businesses.
Data Input Automation: One of the big expenses that businesses face is data input. Hundreds even thousands of hours are spent manually to input data. Most of the time result of this data input is duplicated or even incorrect data. However, an ERP system with chatbots can reduce the time of data input. By integrating multiple applications & data, it minimizes errors. The best part of an ERP system is that it learns it operates. It makes it possible to connect data across different applications. An ERP system can recognize patterns of data to eliminate errors.
Streamlining Business Processes: In any organization, there are multiple tasks that are critical like data entry rates, quantity, customers, etc. To make more efficient internal workflow process of any organization, ERP uses machine learning to make recommendations. It gives a predefined set of steps that complete a task in a better way. The tasks that are fully complete, without any missed steps, or inaccurate information are prompted to use it efficiently. This minimizes the chances of errors.
Supply Chain Management Improvement: ERP systems with chatbots can improve the supply chain. It can easily & quickly identify errors in the supply chain system and helps to handle the process in an effective way. This system helps to reduce manual data-tracking and saves time by automating the supply chain. It can be programmed to understand the delivery of the order. ERP chat bot can analyze the products that need to be shipped and can create labels accordingly. This is beneficial where there is shipment in bulk. In a defined process, this helps to do the task just like an employee, but on the other side, it reduces and saves time and improves the supply chain of the products.
Customer Service Enhancement: With the integration of an ERP system with chatbots, a business can improve customer experience. Customers do not need a longer time to be answered. They can be answered 24*7. Customers get accurate, detailed, and personalized answers in an efficient way. This also reduces the cost to hire a virtual assistant to answer the queries of the customers in off-time.
3 Key differences between ERP AI Chatbots and Humans
There are several differences between using a human assistant and ERP chatbots in support of the customers. Some of these are:
Availability: Human assistants may be available for a limited time or available for work during specific hours of the day while ERP chatbots are available 24/7/365.
Speed: To respond to user queries, ERP chats are much speedier as compared to human assistants. Chatbots can process large amounts of data quickly in an efficient way and respond more quickly than human assistants.
Consistency: ERP chatbots as compared to human assistants can provide consistent & accurate responses to customers. This is due to their pre-programmed algorithms and rules. Human assistants on the other side have variations in their responses.
Scalability: Unlike human assistants, ERP chatbots can handle a large number of user interactions happening at the same time. Human assistants can only handle one query at one time.
Personalization: ERP chatbots can give a personalized response based on the previous interaction & data of any user, while human assistants may not have such information.
Empathy: Human assistant can understand the emotions of any user and responds accordingly. ERP chatbots or any other AI chatbots have limited ability to under the emotions and behavior of the customers.
Complexity: ERP chatbots can handle complex data in a simple way. They can easily handle repetitive tasks and basic information of the users but these chatbots can struggle with complex questions. On the other hand, human assistants can handle more complex and varied questions in an efficient way.
Overall, ERP chatbots can be cost-effective and provide effective solutions to the complex queries of customers in a better way. Human assistants are better at handling more complex queries and delicate interactions. It is important to note that ERP chatbots and human assistants can be mixed to give the best user experience.
4 Our Pick: 3 AI Chatbot platforms that integrate with ERP systems
Here are 3 chatbot platforms (our pick) that can be integrated with ERP systems.
- Oracle Digital Assistant
- SAP conversational AI
- Microsoft Azure Bot Service
Oracle Digital Assistant: Oracle Digital Assistant allows its users to create and deploy AI-driven chatbots. With Oracle digital assistant, one can create chatbots that help users to achieve various tasks in natural language conversation. One or more skills can be assembled for each digital assistant.
Skills are types of individual bots that perform specific types of tasks like inventory tracking, time card submission, and creating expense sheets. Skills can be added to digital assistants or you can deploy these to a channel of your own.
SAP conversational AI: SAP conversational AI is ERP chatbots building platform and it gives the ability to create and deploy conversational chatbots in any application. It offers a built-in interface to build a chatbot, train & test them, and connect and monitor it embedded into third-party solutions and SAP itself also.
It simplifies access to information and delivers personalized human-like conversations with chatbots. It reduces the efforts of the developers to create ERP chatbots and ultimately lowers the cost.
Microsoft Azure Bot Service: Microsoft Azure bot service provides an environment for the building of ERP chatbots. It integrates with a fully hosted low-code platform known as Power Virtual Agents.
It empowers developers with all the technical abilities to build conversational ERP chatbots. It also allows developers to integrate cognitive services such as language, vision, speech, and third-party API.
5 How can ERP AI bots significantly improve CRM?
ERP AI chatbots can significantly improve CRM if you connect the ERP system with CRM through API. By connecting this:
- A business can automate accounting & payroll process.
- You can easily identify the relationship between current trends of sales and any other specific operation of the business.
- A business can improve customer service to give them a better experience about their company.
- ERP chatbots can analyze the purchasing behavior of the customers and can plan marketing & sales strategies accordingly.
- A business can optimize the price of the products to take advantage of competitors.
- ERP chatbots can improve CRM by giving a complete view of the retention journey of any customer and help in building effective strategies.
- Pull data easily from CRM & ERP systems using these chatbots.
- Businesses can analyze data to identify drawbacks in running processes and take steps to improve.
- Valuable insights on the employee’s performance.
6 Good to know
The benefits of using an ERP AI chatbot for any business are countless like cost effectiveness, personalization, scalability, and efficiency in operations, etc. ERP chatbots also offer customer services in an efficient way while lowering the expenses spent on human assistants.
These chatbots can lead to better outcomes in terms of business profitability. Businesses must invest in ERP AI chatbots to build a customer-centric approach to meet the evolving needs of the customers.
By minimizing errors in the operational process with the help of ERP chatbots, companies can truly explore their potential. Embrace whole-heartedly the digital future with the help of ERP AI chatbots.
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