Epicor Announces Grow Portfolio to Bring AI into ERP

ERP vendor Epicor is introducing integrated artificial intelligence (AI) and business intelligence (BI) capabilities that it calls its “Grow Portfolio.”

GLOW announced that it will reimagine how AI-powered ERP software can and should serve the supply chain industry and its workers, delivering over 200 adaptive industry use cases. Insights 2024 User Conference Located in Nashville, Tennessee.

“We know that the key to realizing the full power of AI revolves around two key things: applying AI to clearly defined, practical business problems and leveraging high-quality data,” Vaibhav Vohra, chief product and technology officer at Epicor, said in a statement. “Our new Epicor Grow portfolio works on both fronts, putting employees at the center of their intelligence ecosystem. Unlike industry-agnostic, ‘one size fits all’ ERP, we deeply integrate AI across real industry workflows to surface actionable insights and drive efficiencies. And we’re giving our users a rich, industry-centric data platform and no-code tools to create purpose-built data pipelines that help solve their specific challenges.”

The platform includes six core components and uses multiple types of AI, including generative, machine learning, natural language processing, and predictive analytics, to deliver results.

• epicor prism A generative AI service built into the entire Epicor Industry ERP Cloud platform and tailored to Epicor data structures. Users utilize this in the context of their native Epicor ERP platform.
• Epicor Grow AI The application includes multiple features such as inventory forecasting, AI-generated sales orders from email, personalized product suggestions based on order history, and fleet predictive maintenance recommendations within the context of familiar Epicor products. contained.
• Epicor Grow Inventory Forecasting Deliver predictive analytics and model “what-if” scenarios to improve inventory management using a purpose-built machine learning-driven built-in predictive engine, powered by Epicor’s acquisition of Smart Software.
• Epicore Glow FP&A provides built-in financial planning and analysis to enable easy, accurate, and thorough financial reporting.
• Epicor Growth BI provides no-code technology to create visuals, metrics, dashboards, and combine data blueprints with other BI tools for maximum flexibility. Epicor recently expanded data center availability for Epicor Grow BI on AWS UK to support international organizations.
• Epicor Grow Data Platform is a full-stack, no-code data platform that allows businesses to manage all their data in one place.

Grow Inventory Forecasting, Grow BI, and Grow FP&A are generally available. Prism, Grow AI, and Grow Data Platform are currently available through controlled releases. These are expected to be generally available in the fourth quarter of 2024.

One analyst said Epicor’s move to offer generative AI capabilities will be important for customer retention.

“Epicor has a strong R&D focus on AI and data management,” said Mickey North Riza, group vice president of enterprise software at analyst firm IDC.Research shows that if generative AI is not included in the application provider , noted that 25% of organizations plan to replace their current application provider.

“IDC has found that organizations are embracing the digital business world, but need help from technology resources,” she said. “With AI, organizations can change their business processes to be optimized across their data, reducing overall steps and time to insight and ultimate decision-making. This new visibility allows , employees can leverage technology more easily and better, reducing decision-making time and increasing the value of more informed responses.”