The future of AI-powered ERP: Shaping businesses of tomorrow
In a recent webinar hosted by Unit4, Rafael Artacho, Director of Product Management, shed light on the company's strategic advancements in ERP technology, particularly around the powerful integration of AI and smart automation.
As businesses worldwide continue to wrestle with increasing operational complexity, Unit4's AI-driven ERP system is emerging as a game-changer, streamlining tasks, enhancing productivity, and transforming how organizations manage their financial planning, payroll, and project management.
Let’s explore some key innovations from the session.
1. Smart automation for financial planning & analysis (FP&A)
Artacho emphasized the rising importance of smart automation within financial planning and analysis (FP&A) in ERP systems. Traditionally, repetitive tasks like data entry and report preparation consume up to 40% of finance professionals' time, leading to disengagement and loss of productivity.
However, Unit4’s smart automation seeks to minimize these tedious tasks, enabling finance teams to focus on more strategic, value-adding activities.
- AI-powered forecasting: The system integrates AI to predict account information directly within the ERP, simplifying financial forecasting and planning. This feature, expected in early 2025, will streamline the entire financial process by minimizing manual input and boosting efficiency.
- Generative AI for storytelling: In early 2025, the storytelling feature will enhance the ability to interpret financial data. AI will analyze deviations, generate insights, and recommend the next steps. This not only increases transparency but also empowers decision-makers with actionable information faster than ever before.
2. Optimizing Project Management with ERP
Project management is another domain in which Unit4’s AI-powered ERP is driving real impact. Staying on budget and schedule is critical for project success, and manual data input or resource misallocation can derail even the best-planned projects.
Unit4’s automation capabilities promise to transform project management by ensuring precision and efficiency.
Key innovations in this space include:
- Automated project data input: The automated data input tool will drastically reduce manual work, optimize resource allocation, and help ensure that projects are delivered on time and within budget. With a more intelligent allocation of resources, managers can make better-informed decisions and mitigate risks before they escalate.
3. Payroll Navigator: Streamlining payroll operations
Payroll is one of the most time-consuming areas for HR departments. The complexities of calculating salaries, handling deductions, and ensuring compliance with various regulations can lead to errors and inefficiencies.
Unit4’s Payroll Navigator tool, powered by AI, is set to save up to 30% of time spent on payroll tasks while significantly improving accuracy.
Key innovations in this space include:
- AI-enhanced payroll processing: By automating the payroll calculation process, the Payroll Navigator ensures precision and drastically reduces the risk of errors. Furthermore, it simplifies the complex task of section handling, offering smoother, more reliable payroll management.
4. Self-driving ERP and the future of automation
Perhaps the most ambitious aspect of Unit4’s vision is the move towards a self-driving ERP, a concept that aims to reduce human intervention to a minimum while enhancing decision-making. The goal isn’t to replace human effort but to augment and enrich it.
Key innovations in this space include:
- AI-powered integration & process automation: With tools like the Extension Kit, non-technical users will soon be able to create new integrations and automation by simply using natural language. This lowers the barrier to entry, enabling more people across the organization to benefit from the power of automation without requiring deep technical expertise. This means user journeys can be built to fit directly with user needs.
- Smart Assistants: Unit4’s ERPx is moving towards a future where intelligent assistants play an integral role in business processes and streamline how users interact with their ERP. For example, the new Invoice Management feature will not only predict accounting errors but also offer corrective actions in real-time, all through an experience delivered through Microsoft Teams – bringing the work to the user rather than them having to go and search for it.
5. Continuous release roadmap for ERPx
Artacho highlighted that ERPx’s AI journey isn’t a one-time update but a continuous evolution. New features are set to be rolled out, including AI-powered enhancements for invoicing, financial modeling, and project management, all underpinned by a commitment to improving user experience. And this is just the beginning.~
Key innovations in this space include:
- Bank statement automation: By 2025, a new feature will automate the matching process for bank statements, leveraging AI to increase both accuracy and speed.
- AI-driven resource allocation: Smart automation will optimize resource allocation in real-time, ensuring projects run efficiently and budgets are met.
6. A human-centric approach to AI and automation
At the heart of Unit4’s AI-powered ERP is a human-centric approach. Rather than merely automating tasks for the sake of efficiency, the company’s vision is to design systems that augment human capabilities, making work more fulfilling and productive.
This user-centered design is crucial to ensuring that the technology fits seamlessly into real-world business operations.
Artacho stressed that Unit4 remains committed to ethical AI implementation, adhering to regulations like the EU AI Act and emphasizing compliance as a core pillar. The company’s approach to AI is purpose-driven, ensuring that every innovation adds genuine value to the end user.
Conclusion: The future of ERP is here
Unit4 is leading the charge toward a new era of ERP, where smart automation and AI converge to create more efficient, adaptive, and human-centric systems. From FP&A and project management to payroll processing and beyond, Unit4’s ERPx platform is set to revolutionize how organizations operate and enable our customers to embrace the future of work, as well as the change that comes with it.
With continuous releases planned and a focus on minimizing human intervention, the future of ERP is bright, efficient, and exciting.
Unit4’s AI-driven ERP not only boosts productivity but enables organizations to embrace new working models and employee expectations. The journey toward a more autonomous and intelligent business future has already begun, and Unit4 is paving the way.
You can find out more about our suite of integrated solutions here.
