Technology (credit image/Pixabay/Gerd Altmann)At Epicor Insights 2024, the global vendor that delivers industry-specific enterprise software, made a series of product announcements. It has launched new solutions that combine AI with Business Intelligence (BI) using its industry specific data platform to provide insights for the make, move, and sell industries.

Underpinned by the data captured by its cognitive ERP solutions, such as Epicor Kinetic, the new Epicor Grow portfolio promises to break down the information siloes that exist both within and outside the organisation to provide insights across over 200 different use cases. Out of the box, the solution promises to deliver a faster time to value for its BI solution. The no-code and low-code platform will enable employees to create and use personalised dashboards specific to their roles. Ultimately, the use cases turn data into insights and insights into immediate actions to automate processes across the business.

Vaibhav Vohra, Chief Product and Technology Officer, Epicor (image credit - LinkedIn/Vaibhav Vohra)
Vaibhav Vohra, Chief Product and Technology Officer, Epicor

Vaibhav Vohra, Epicor’s Chief Product & Technology Officer, commented, “We know the keys to realising the full power of AI revolve around two important things: applying AI to a well-defined, practical business issue and leveraging high-quality data.

“Our new Epicor Grow portfolio delivers on both fronts, putting workers at the centre of the intelligence ecosystem. We’re delivering deep AI integration across real-world industry workflows – unlike ‘one size fits all’ industry-agnostic ERPs – to surface actionable insights and drive efficiencies. And we’re empowering users with a rich, industry-centric data platform and no-code tools to create purpose-built data pipelines to help solve specific challenges.”

What is in the portfolio?

Epicor believes that for organisations to leverage AI fully, the solutions must have access to the data that ERP can capture from within the organisation and across the supply chain. To leverage this data, Epicor has announced several solutions. Some of which are new, and some have been moved into the Epicor Grow portfolio.

​Epicor Prism

A patent-pending generative AI service embedded across the Epicor Industry ERP Cloud. Prism leverages data held in the Epicor Grow Data cloud. It delivers insights to users in the right context of their flow of work. Users from across manufacturing, distribution, and retail industries can leverage the intelligence that Epicor has built over decades. Prism captures new data points and identifies issues and opportunities to deliver insights that users can act on, sometimes using actions they are prompted with.

Epicor can use Prism as a coding assistant to build automations or use natural language to ask for information about their business without the technical knowledge that was once required of users. Automations include the automation of supplier communication to ease the burden on purchasing teams. Enabling users to automatically send RFQs to their supplier network and parse and translate quotes to determine the best price and fastest delivery.

Epicor Grow AI​

As users interact with Epicor ERP solutions, Grow AI enhances the experience with AI tools that are easy to use, practical, and outcome-focused. Epicor Grow AI surfaces insights in real-time to mitigate issues and risks quickly. Use cases include:

  • AI-driven predictive analytics to help generate, analyze, and act on multiple forecasts related to inventory, demand, and sales.
  • AI-generated sales orders created from natural language email inquiries, speeding fulfilment and reducing customer service effort while increasing conversion and customer satisfaction.
  • Personalized, AI-generated product suggestions based on past order history to help optimize inventory levels, reduce costs, and drive greater revenue.
  • AI-powered predictive maintenance suggestions and notifications for fleet vehicles, reducing unscheduled vehicle downtime, delivery delays, and maintenance costs.
  • Accelerated access and knowledge sharing across the Epicor library of product and support resources, giving users fast, accurate answers to their questions with curated, AI-driven responses.

Epicor Grow Inventory Forecasting​

Early this month Epicor acquired Smart Software, a partner and vendor with AI-driven inventory planning and optimisation (IP&O) applications. These solutions leverage predictive analytics and model “what-if” scenarios. To better manage inventories with embedded, purpose-built, machine-learning forecasting engines.​ These solutions are now included as part of this portfolio.

Epicor FP&A​

Epicor Financial Planning and Analysis can help organisations by creating quick and accurate financial statements, reports, budgets, plans, and forecasts — in the cloud or Excel.

Epicor Grow BI​

Using a no-code interface, users can build reports and data visualisations for KPIs and other metrics within dashboards. Users can create notifications to alert users and managers when thresholds are met. It is now possible to pair outputs with other BI solutions. Epicor recently extended the availability of Epicor Grow BI with support for the Amazon UK region. Thus enabling international customers to take advantage of data centres outside the US.

Epicor Grow Data Platform​

The Grow Data Platform enables organisations to put all data in a single location using a full-stack, no-code data platform. This single location provides Epicor AI and BI solutions with a single location from which to examine and draw data insights. The platform includes a no-code, interactive Pipeline Canvas to move or modify prebuilt data pipelines. Or enable users to build their own. The platform enables users to selectively combine, clean, normalize, and analyse only the data they need. Thus saving time and cost and delivering a higher quality, more accurate output faster.

Enterprise Times: What does this mean

Epicor has put in place a data platform to underpin its Business Intelligence and AI efforts for its customers. This is a sensible step and one that should enable it to introduce capabilities for those make, move and sell industries it provides solutions for. While the detail available is limited, customers can find out more at Insights. They can also learn what the other 200 use cases are.

With this announcement, Epicor has taken another step toward matching the architecture that others, such as Infor, have already created. Importantly, it will also enable it to roll out further artificial intelligence capabilities over the coming years and months from a strong foundation. There is still a lot to understand about these new and not-so-new features.

LEAVE A REPLY

Please enter your comment!
Please enter your name here