Rafael Funes

IT innovation: Stop scratching the surface

Rafael Funes, creator and executive chairman, LOVIS

Imagine a scenario where business leaders can instantly access real-time operational information across all functions, just by using their voice. Voice-activated virtual assistant AI technology is commonly used at home, but rarely in business. And if it is, it’s voice recognition technology, rather than software that can integrate and share data on every operational process via the cloud. Yet this technology does exist and is being used by companies around the world to leverage the information held within their whole value chain to support leaders’ real-time decision making. Such autonomy quickly differentiates the brand leaders from the brand followers.

Known as LOVIS EOS and described as ‘enterprise software created for humans’, it processes masses of information and data, and following a voice command, shares real-time operational status reports in seconds. At its core is an Enterprise Operating System (EOS), supported by the voice of LOVIS Assistant.

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 this business technology of the future.

So how does it differ from other enterprise applications?
While many enterprise systems have cross-functional capabilities, they’re not able to retrieve and instantly share data across all organisational and vendor interfaces. LOVIS EOS has a continuous, transactional and collaborative workflow system connecting all functions, in real-time, instantly creating and aggregating reports. Its multi-currency, multi-language and multi-country DNA gives it global capabilities.

There are no operational ‘go-live disruptions; it adapts to organisations in weeks and fully deploys within six months, supporting every business process and its variations. There are no monthly closing procedures or disruptions and new roles/profiles are assigned via automatic data access and workflow updates, improving security, communication and collaboration.

Every task is preconfigured to minimise human effort and maximise data quality. All transactions are created using business terms and converted into their accounting equivalent. And as a native of the cloud, the system’s secure and accessible from any device, anywhere, with bank-grade security.

LOVIS EOS 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. By using a simultaneous session pricing model, there are no additional licensing, infrastructure or annual maintenance costs.

What does it support?
It 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.

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, plus measures performance and ensures the accurate reporting of results.

Clean data is instantly created and aggregated when travelling through the different process stages, and so easily interpreted by AI and Machine Learning, courtesy of dynamic real-time hypercubes using AWS Quick Sight, other BI tools and Amazon Alexa.

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.

LOVIS EOS 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.

Instead of software analysis, design, development and testing, there’s a focus on business process engineering and project/change management.

Ahead of the technology curve
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, but only if decision makers develop news skills and attitudes, prioritise their strategic thinking and integrate processes with business intelligence.

Organisations that believe they already ‘innovate’ by using AI to support business functions have only scratched the surface of what can be achieved.

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