Epicor Prism is bringing the power of AI to ERP

22 May 2024, 03:48 published

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With generative AI now a common sight in most businesses, making sure your company gets the most out of the technology is paramount.

However the benefits of Gen AI go far beyond chatbots, extending to many areas of the modern business. ERP (Enterprise Resource Planning) is a prime candidate for an AI boost, helping companies to make smarter, more effective decisions when making major purchases.

Epicor has been one of the biggest players in the ERP market for some time, particularly when working with manufacturing and retail companies, and has now embraced the AI future with its new Prism Gen AI service.

Epicor Prism

At a briefing event attended by TechRadar Pro, Epicor outlined how Prism can make a real difference for companies looking to make sure every decision counts.

The platform includes a code assistant that is able to create automated business processes faster than ever, as well as offering a conversational platform to get insight into production and purchasing insights.

The company also has some pretty dynamic customers signed up to show the power of Epicor Prism, including the Visa Cash App RB (VCARB) Formula 1 team.

The team’s ERP manager is able to utilize the code assistant tool in Epicor Prism to create production reports and automate processes much faster than ever before, meaning it can react to changing needs and market demands.

Epicor Prism can also analyze insights from historical production and business data to quickly find information or statistics that previously may have taken hours to track down or calculate – all accessed via a conversational model that provides real answers to real questions.

In the fast-paced world of Formula 1, making split-second decisions can mean the difference between success and going home empty-handed, and the VCARB team is also looking into using Epicor Prism to automate internal approvals for purchasing, so executives such as Team Principal Laurent Mekies and CEO Peter Bayer can approve purchases wherever they are in the world.

And ERP can also help speed up purchasing, making it easier and faster to send out RFQs to suppliers, than analysing quotes to work out what the best option will be – a vital consideration in Formula 1, where even a minor improvement can make a world of difference.