How AI and Microsoft Dynamics 365 Business Central combine for Business Success
Sponsored Article 09:47 - 23 May 2023
SMBs struggle with inefficiencies and suboptimal processes due to the patchwork of technologies used to manage their business processes.
Small and medium-sized enterprises (SMBs) need efficient operations and effective cost management strategies to be competitive and sustainable. Historically, SMBs have used a patchwork of technologies to manage their business processes, resulting in inefficiencies, duplication of effort, and suboptimal outcomes. With the advent of artificial intelligence (AI) and machine learning (ML) technologies, SMBs can leverage digital transformation to optimise their processes.
Microsoft Dynamics 365 Business Central is a popular enterprise resource planning (ERP) solution that helps small and midsize businesses (SMBs) centralize their financial and operational processes. By integrating AI capabilities into Business Central, SMBs can achieve the following benefits:
- Automate tasks: AI can help companies automate manual, repetitive and time-consuming tasks such as data entry, invoice processing and inventory management. By eliminating these tasks, employees can focus on higher-value activities such as customer service, innovation and business growth. AI algorithms can also gain insights from data, detect anomalies, and predict trends, which helps businesses make informed decisions.
- Improving customer service: AI can provide intelligent insights into customer preferences, buying behaviour, and satisfaction levels. By analysing data from multiple sources such as emails, social media, and purchase history, Business Central can enable personalized and proactive customer service. AI-driven chatbots can also answer customer queries, provide support, and resolve issues 24/7, improving response times and customer satisfaction.
- Production and supply chain optimization: AI can help SMBs optimize their production and supply chain operations by predicting demand, managing inventory, and reducing waste. Machine learning algorithms can analyze historical data, calculate lead times, and identify bottlenecks, allowing companies to improve production schedules and reduce costs. Advanced algorithms can also enable predictive maintenance by identifying potential equipment failures and scheduling maintenance before a failure occurs.
- Reducing fraud and errors: AI can help SMBs reduce fraud and errors by detecting anomalies and patterns in financial transactions. Fraudulent activities such as insider trading, money laundering, and identity theft can be detected by using AI algorithms to identify unusual activity and suspicious patterns. Machine learning algorithms can also learn from past mistakes and patterns to identify and correct potential errors before they occur.
- Enabling faster decision making: AI can help small and medium-sized businesses analyse large amounts of data from multiple sources to make faster, more informed decisions. By integrating AI capabilities into Business Central, SMBs can gain insights into their business operations, identify trends, and predict future outcomes. Dashboards, reports, and real-time alerts provide executives with the information they need to make critical decisions quickly.
In summary, SMBs can benefit from AI technologies when integrated with Microsoft Dynamics 365 Business Central. Businesses can automate tasks, improve customer service, optimize production and supply chain, reduce fraud and errors, and enable faster decision making. With AI, SMBs can gain competitive advantage, streamline operations, and drive growth and profitability.
Contact us to find out how we can automate your tasks and take your business to the next level.