By Rafael Funes
On 30 June, Boris Johnson reported that innovation has a part to play in boosting the UK and wider economy. While many organisations believe they already ‘innovate’ by using AI to support business functions, they’re only scratching the surface of what can be achieved.
AI typically supports key areas such as: marketing, sales, research & development, IT, accounting & finance, human resources, contact centres, manufacturing and customer services, but it’s often used in isolation with separate data-sharing interfaces.
So who’s joining up the dots? Where are the systems that enable business leaders to leverage the latest information within their whole value chain and use it to support real-time decision making?
These are not rhetorical questions, the technology exists.
Called LOVIS EOS and described as ‘enterprise software created for humans’, it helps organisations ‘join the dots’ and understand how every operational process performs in real-time via an intuitive voice-activated software system.
Created by LOVIS – with a newly-developed Enterprise Operating System (EOS) at its core and supported by the voice of LOVIS Assistant – it simplifies the running of businesses by integrating and sharing data on every operational process via cloud-based technology.
LOVIS EOS processes masses of information and data and, following a voice command, shares real-time operational status reports in seconds.
Configurable and scalable, when customised to business parameters it gives firms instant access to all organisational-wide data, putting them in a stronger position to respond to market changes quickly, improving productivity, profitability and well-being.
There is no comparable EOS/AI tool that enables leaders to instantly interpret all data within their whole value chain, make truly-informed decisions and optimise their resources. And it is here where true innovation lies; not just with the launch of LOVIS EOS, but in the people with the foresight to embrace the business technology of the future.
So what does it look like?
Business technology of the future
Its continuous, transactional and collaborative workflow system connects all of an organisation’s functions in real-time, instantly creating and aggregating team activity reports. It has a multi-currency, multi-language and multi-country DNA (giving global capabilities), yet with a simple configuration and operation.
Adapting to organisations in weeks and fully deploying within six months, it supports every business process and its variations; there’s no operational disruption at go-live and the system is ready for future challenges.
It allows businesses to continue to run smoothly, and assigns new roles and profiles via automatic data access and workflow updates, improving security, communication and collaboration. Single version enhancements strengthen with each deployment.
Every task is preconfigured to minimise human effort and maximise data quality. Every transaction is created using business terms and all convert into their accounting equivalents, delivering instant operational/financial reports and statements.
A native of the cloud, the system is secure and accessible from any device, anywhere with bank-grade security. It delivers a long-term increase in productivity of at least 100%, reduces carbon footprints by 1/7th and gives a 2:1 annual return on investment from year two.
LOVIS EOS includes hundreds of queries, reports and BI tools, which dependent on their security profile, can be run, customised, or new formats created, by end-users. When asked, LOVIS Assistant answers.
Beginning with trigger transactions, such as orders, requisitions, expenses, bills and cash advances, teams will know what’s next and complete the tasks in a few clicks, improving business workflow. Each transaction is created as the event is happening and every step can be reversed with a single click, allowing users to easily correct mistakes and clean data.
Functional and geographical roles allow user profiles to be built in a matter of minutes with options to filter entities/items and enhance security. Vendor and customer profiles can also be created, giving them secure access, building a more efficient extended value chain.
LOVIS EOS supports: procurement, inventory, manufacturing, transformations, maintenance, product sales and distribution, components, ingredients, derivatives, services and fixed assets, plus all the procurement-to-pay and sale-to-cash variations.
With finance, LOVIS EOS supports: billing, receivables, expenses, payables, treasury, investments and banks, and instantly creates financial transactions to reflect supply chain events. It maximises organisational flow while keeping strict control, facilitating operational and financial audits.
Every transaction automatically translates into its accounting equivalent and 3D accounting charts and account-centre projects are easily customised. It delivers daily project accounting and financial statements for business lines, centres and divisions and regional, national and global financial reports.
The system connects with B2B and B2C e-commerce portals, CRM, ERP, POS, BI, analytics, billing, and any other application integral to the running of a business. Business intelligence gives access to dynamic analytics, reports and queries to support decision making, measure performance and ensure results are reported accurately.
By supporting every beginning-to-end business process 24/7 on the cloud, rather than being modular or function based, there’s no need for internal interfaces or data-sharing systems, and no gaps, information inconsistencies or monthly closedown procedures.
It prioritises the operation over resource planning, taking into account process variants usually handled outside a system’s parameters, and adapts/evolves with customers’ business logic by configuration, rather than programming.
There’s an implementation focus on business process engineering and project/change management, rather than software analysis, design, development and testing. And being configurable across all sectors and countries, it enables stakeholders to manage the same data structure; strengthening the exchange of information between production chains and industrial clusters.
As clean data is created when travelling through the different process stages, it’s easily interpreted by AI and Machine Learning. Data inconsistencies, where adjustment and cancellation transactions are necessary to reverse the effect of erroneous input, are no longer an issue, negating data cleansing and reducing resultant AI/ML project costs.
The ability to instantly create and aggregate operational data, via dynamic real-time hypercubes through AWS Quick Sight, other BI tools and Amazon Alexa, eliminates the need for data warehouses.
By using a simultaneous session pricing model (rather than charging per named user and module), there are no additional licensing, infrastructure or annual maintenance costs.
Ahead of the technology curve
Voice-activated interaction is a global first, as is the ability for a system to adapt in weeks and be ready to run from day one with no hardware installation, software development or operational disruption.
Yet being ahead of the technology curve requires more than just tools; it requires a mindset change. Innovation will triumph over adversity in this new pandemic-led world if decision makers develop news skills and attitudes and prioritise their strategic thinking, align processes to strategic goals and integrate processes with business intelligence.
About the author
Rafael Funes, creator of LOVIS EOS, is a technology visionary. Working in the UK on an exceptional talent VISA, and based in London with offices in Spain, Mexico and Canada, Rafael has won national awards from Mexican state leaders and universities recognising his global contribution to science and technology education.