In 2013, Wired published a very interesting article about the role of big data in the field of integrated business systems. Author James Kobielus, the lead AI and data analyst for Wikibon and former IBM expert, said that there are a number of ways that integrated business systems are tapping the potential of AI and big data.
-Kobielus points out that every vertical is finding ways to use big data to improve its competitive advantages. Integrated business systems provide a centralized repository where those benefits can be executed.
The Importance of Big Data in Integrated Business Systems in the 21st Century
If your business makes use of multiple systems to manage different processes such as payroll, employee management, customer support, and inventory management, then it would be wise to consider opting for innovative solutions that will integrate your business systems. However, software systems that are isolated from one another may risk impending challenges that could ultimately affect business growth.
Big data has made it easier to use business integrated systems to handle these processes. They provide a far less fragmented approach, which can be beneficial to the organization in a number of ways.
One of the benefits of using AI to manage integrated business systems is that it provides real-time data availability. Your business could be unable to enjoy real-time visibility on the general performance of your brand. What’s more, you may also find that collecting data for varying systems has become an undeniably time-consuming process, which would essentially be diverting your focus from important business decisions. If your business systems are not integrated, here are a few top benefits that you should consider. These new systems make data collection far more efficient. They also provide a variety of other benefits, such as using big data to identify discrepancies in data while cross-referencing documents for different departments.
Enhance Employee Productivity
Big data has played a very important role in boosting employee productivity. Ryan Ayers, CEO of Ryan Ayers Communications has discussed these benefits on Experify. He wrote that UPS spends $1 billion a year on big data tools to boost employee productivity. These benefits can be used in an integrated business system.
When opting for innovative integrated software solutions for your business, such as QuickBooks time tracking, you will be able to take advantage of improved employee productivity. Timesheets that use complex AI algorithms to integrate with the accounting software will ensure you are able to manage employee tracking and payroll processes with far more efficiency. These two systems will be interlinked rather than functioning as stand-alone systems. Improving employee productivity is often at the forefront of issues for business owners as this aspect is crucial for brand growth and company success. Reducing the amount of time, you employees have to spend enduring repetitive tasks, such as those associated with traditional timesheets, will ultimately affect productivity and employee motivation.
Improve Business Performances
Using stand-alone systems can make the task of collecting accurate data in real-time an unlikely possibility. By integrating systems, you will be able to collect the most accurate data and make important decisions for your business in real-time. You will gain real-time visibility of numbers that can ultimately aid brand growth as you will have beneficially accurate insight into varying processes and departments. You will no longer have to find yourself or your employees wasting precious time attempting to extract accuracy from varying systems as the effort will be simplified significantly.
Reduce the Risk of Errors
While it is no secret that no business should be making use of traditional methods for systems such as payroll and employee monitoring timesheets as this will likely result in numerous hard to detect errors. Fortunately, using big data to take advantage of innovative software solutions will definitely reduce the number of errors in your business. However, integrating systems will further reduce errors to provide ultimate accuracy which is undeniably beneficial to businesses of any size and in every industry. Time-consuming tasks such as data recapturing that often results in varying human errors will no longer be a task for your employees.
Your businesses IT department will be able to enjoy saving a great deal of time as maintaining multiple stand-alone systems can be understandably time-consuming. Alternatively, opting to integrate your systems will reduce the amount of time needed to maintain systems as they won’t need to worry about monitoring various applications and determining which require updates and which don’t. As a result of this, your IT departments will be able to focus on handling more important issues such as optimizing business processes with innovative ideas. Your IT department will also be able to focus on maintaining your businesses security infrastructure which is crucial for growth and success.
You will likely find that integrated software solutions are significantly more cost-efficient in comparison to several stand-alone systems. This means your business will be able to reduce expenses and enjoy an improved cash flow. Startups and smaller-scale business are always on the hunt for innovative ways of cutting costs to invest funds where it matters. Reducing the costs of business software systems will be an undeniable benefit for your business that will ultimately aid success and boost business growth substantially.
Opting For Innovative Solutions To Drive Your Business Forward
Because technology is developing at a rapid rate, there is absolutely no reason why you shouldn’t be taking advantage of innovative solutions for your business. Rather than holding on to age-old software and business process methods that will essentially hold your business back, you should constantly be on the lookout for improved solutions. You should be encouraging your employees to provide innovative solutions that will drive your business forward and in doing so, you should be prepared to adapt to the technology era. Integrating business systems should be the first step for your business to moving forward towards success. As such solutions will help reduce costs, save time, and enhance productivity, innovation should be the main concern for businesses in every industry.
Big Data Makes Integrated Business Systems More Reliable
There are a number of great benefits of AI and big data when it comes to managing business processes. Integrated business systems use cutting-edge big data technology to leverage these benefits.