Austin, Texas, May 1, 2024–(BUSINESS WIRE)–Epicor, a global leader in industry-specific enterprise software that powers business growth, today announced that Smart Software, a leading provider of cloud-based, AI-driven inventory planning and optimization (IP&O) announced that it had acquired applications, and existing Epicor ISV partners. With this acquisition, Epicor accelerates the delivery of its best-in-class ERP solutions that deliver practical applications of AI across business operations in manufacturing, movement, and sales industries. Financial terms were not disclosed.
“In today's fast-paced and constantly evolving supply chain environment, effective inventory management is critical to success,” said Epicor CEO Steve Murphy. “The acquisition of Smart Software further accelerates our efforts to transform traditional ERP from a system of record to a system of action, providing Epicor customers with the ability to turn their AI-powered inventory into a competitive asset. It helps improve customer service levels and reduce costs.”
Smart Software's Smart IP&O platform is an intuitive, cloud-based technology portfolio that leverages patented probabilistic AI and machine learning models to deliver superior predictions and “what if” analysis. These models run thousands of simulations of results to provide accurate forecasts, avoid unrealistic assumptions, and help users more accurately predict demand, stockout risk, and costs. Masu. This improves forecast accuracy, allowing users to quickly identify and correct inventory imbalances, predict future operational performance, and track actual performance. Customers can also use “what if” analysis to test and risk-adjust inventory policies to ensure alignment with strategic objectives, and leverage the platform’s AI to ensure optimal policies deliver the highest financial return. You can also prescribe it.
As an existing Epicor ISV partner, our Smart Software solutions are already integrated with multiple Epicor ERP platforms and are expanding their capabilities to help users make informed strategic inventory decisions that align with their business goals. Other benefits include:
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Operational efficiency powered by AI: This acquisition will enable Epicor customers to enhance and streamline their inventory management processes to ensure optimal inventory levels. By eliminating manual data entry/data preparation and automating demand forecasting while accounting for trends, seasonality, and intermittentness, businesses can optimize cost savings, improve resource utilization, and run smoother operations. It can be executed.
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Improving customer satisfaction and lifetime value: Leveraging smart software and AI technology, Epicor's solutions minimize out-of-stock situations and ensure customers get products when they need them, improving the customer experience and increasing customer loyalty and lifetime. Improve value.
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Best-in-class inventory optimization and cash flow: Smart Software enables Epicor customers to enhance their ability to balance inventory levels and optimize working capital. By preventing excess inventory and minimizing the creation of obsolete or slow-moving inventory, businesses can free up cash tied up in inventory. Additionally, smart software contributes to efficient cash flow management, promoting overall financial health and viability.
“As long-time Epicor ISV partners, we have worked closely to provide our customers with the AI-powered technology they need to improve forecast accuracy and optimize inventory levels,” said Greg Hartunian, President of Smart Software. ”. “We are excited to join Epicor and continue our journey to drive innovation across the supply chain industry.”
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About Epicor
Epicor Software Corporation provides hard-working businesses with enterprise solutions that keep the world running. For more than 50 years, his Epicor customers in the automotive, building supply, distribution, manufacturing and retail industries have trusted his Epicor to help improve their businesses. His innovative Epicor solution set is carefully curated to meet customer needs and built to be flexible and responsive to rapidly changing realities. With deep industry knowledge and experience, Epicor accelerates our customers' ambitions, whether it's to grow and transform or simply increase productivity and efficiency. For more information, please visit www.epicor.com.
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Aaron Masterson
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