Infor Unveils AI and Process Automation Innovations at 2024 Velocity Summit
At the 2024 Infor Velocity Summit, the company made waves with the announcement of groundbreaking artificial intelligence (AI) and process automation innovations aimed at enhancing its CloudSuite portfolio. These updates are designed to empower organizations across various industries by improving decision-making, driving operational efficiency, and helping businesses meet their regulatory and sustainability goals.
Key Innovations: GenAI Assistant and Process Mining
Among the standout features introduced is the GenAI Assistant, set to launch in October. This tool is designed to transform conversations into actionable business insights, significantly enhancing the user experience. The GenAI Assistant will manage a variety of tasks, including manufacturing project oversight, requisition analysis, and product tracking. This innovation promises to streamline operations and reduce the time spent on manual tasks.
Elisabetta Venezia, Group Director of ERP System & Data Management at GMM Pfaudler, shared her enthusiasm for the GenAI Assistant, stating, "With the assistance of Infor GenAI, we have significantly accelerated our project with greater accuracy and consistency." She highlighted a specific project aimed at cleansing their item master data, which would have traditionally taken years with a small team. Thanks to the GenAI Assistant, GMM Pfaudler now anticipates completing the project within six months, potentially saving EUR €1-2 million by reducing inventory costs through a cleaner database.
Enhanced Visibility with Process Mining Tools
Infor’s new process mining capabilities are another significant addition to its CloudSuite portfolio. These tools provide enhanced visibility into business processes, from data definition to insights analysis. By identifying inefficiencies and bottlenecks, organizations can streamline operations and improve decision-making effectiveness.
Steve Turner, Director of Information Systems for Oberg Industries, expressed his excitement about the transformative potential of process mining. He noted, "This transformative tool provides visibility into business process events within our daily order-to-cash operations, highlighting areas for improvement and actionable opportunities." By leveraging these insights, Oberg Industries aims to increase throughput with existing resources, ultimately driving greater efficiency.
ESG Strategy Management Modules for Compliance and Sustainability
In addition to AI and process automation, Infor has introduced new ESG (Environmental, Social, and Governance) Strategy Management modules. These modules are designed to help organizations integrate ESG data and improvements into their everyday workflows, making it easier to meet compliance and sustainability goals. As businesses increasingly prioritize sustainability, these tools will be invaluable in ensuring that organizations can track and report on their ESG initiatives effectively.
Advancements in Supply Chain Management
Infor has also made significant strides in supply chain management by incorporating AI to enhance accuracy and reduce manual intervention. The company claims that these enhancements will accelerate the time to value for businesses, particularly with industry-specific features like supply planning, warehouse management, and demand forecasting. By leveraging AI, organizations can optimize their supply chain operations, leading to improved efficiency and reduced costs.
Upcoming Discussions at the Velocity Summit
These innovations will be further explored at Infor’s Velocity Summit customer events, scheduled to take place in Las Vegas and Amsterdam. Attendees can expect in-depth discussions on how these new tools and features can drive business transformation and enhance operational efficiency across various sectors.
With these latest advancements, Infor is not only showcasing its commitment to innovation but also reinforcing its position as a leader in providing industry-specific solutions that harness the power of transformative technologies. As organizations look to navigate the complexities of modern business, Infor’s CloudSuite enhancements offer a promising path forward.