For a little while now, we have seen Artificial Intelligence being leveraged in ERP systems. This trend will continue, making systems even more powerful while optimizing your business processes significantly.

Indeed, process automation is one area that can benefit from artificial intelligence. AI can take over some repetitive tasks and perform them with great accuracy. For example, validating and transferring information from one source to another.

It can also help processing large amounts of data for predictive purposes. Forecasting and planning activities can be greatly improved.

Microsoft is greatly invested in Artificial Intelligence and Dynamics 365 Business Central is already relying on AI to improve some of its features. In this blog, we will cover a few of these to illustrate their benefits.

Cashflow Forecasting

The cashflow module in Business Central typically relies on existing system data such as purchase orders, payables, sales orders, receivables, payment terms and current cash flow levels to help you anticipate future cashflow. Azure AI can help improve and refine this forecast with predictive analysis based on historical data and trends. It is extrapolating.

Sales and Inventory Forecasting

Business Central allows you to create forecasts for your items. You may select a forecast when you run the planning worksheet (Master Production Schedule) to figure out what to make and what to buy. Without AI, that forecast is populated by you based on the predictions you made. With AI, projections are based on your historical performance. More data equals better predictions.

Late Payment Prediction

Some customers pay on time. Others don’t. Systematically. Managing receivables for three customers is easy. Managing credit with hundreds of customers is a challenge. AI can help by predicting when an invoice will be paid by your customer based on their historical payment patterns.

The above three examples provide us with a good overview of how the capabilities of AI can enhance Business Central and other ERP systems. Improvements will only multiply over time.

Please don’t hesitate to write if you have questions or comments.

Cordially,

Sylvain.

 

Last updated: February, 2024