Salesforce unveiled new innovations in commerce and retail, delivering new features to their Commerce Cloud and Salesforce for Retail Media. Oracle extended its comprehensive retail cloud platform to include the Oracle Retail Payments Cloud Service. This will allow retailers to now accept Apple, Google, and Samsung Pay, without the hidden fees and unpredictable costs that erode the bottom line. This service also runs on Oracle Cloud Infrastructure (OCI), ensuring it has high-security standards, end-to-end encryption, and is PCI/DSS compliant. Workday announced its continued momentum within the retail industry, with more than 50% of the retail organizations in the Fortune 500 having selected Workday. Along with this announcement, Workday introduced new demand forecasting to Workday Scheduling and Labor Optimization. The new feature leverages AI and machine learning technology to enable retailers to forecast business demand based on external data, such as sales and foot traffic history. On a similar note, AI continues to grow in the market with new advancements emerging across the industry. NICE announced new RPA (Robotic Process Automation) capabilities in its latest release, using AI to identify focused opportunities for automation, then Pr3vent and webAI have partnered to train Pr3vents AI model and remove bias to accurately screen eyes, all on top of the ChatGPT momentum, a product which millions of people are trying.
Connect with us!
https://www.erpadvisorsgroup.com
866-499-8550
LinkedIn:
https://www.linkedin.com/company/erp-advisors-group
Twitter:
https://twitter.com/erpadvisorsgrp
Facebook:
https://www.facebook.com/erpadvisors
Instagram:
https://www.instagram.com/erpadvisorsgroup
Pinterest:
https://www.pinterest.com/erpadvisorsgroup
Medium:
https://medium.com/@erpadvisorsgroup
Hi and welcome to episode 72 of The ERP Minute. I am your host, Rebekah McCabe.
First up is our focus on retail-related enterprise software news, where a number of vendors made announcements regarding product innovations.
Salesforce unveiled new innovations in commerce and retail, delivering new features to their Commerce Cloud and Salesforce for Retail Media.
Salesforce’s enhancements to Commerce Cloud will assist customers in quickly launching trusted storefronts with HIPAA-compliance while also streamlining post-purchase journeys and reducing costs with connected commerce, order management, and service.
Then, their innovations in Salesforce for Retail Media will harmonize first-party data to provide ad buyers with direct access to target audiences, utilize automation and workflows to streamline advertiser relationships, drive operational efficiencies, and accelerate sales cycles, and will optimize campaign performance with actionable insights and timely reporting.
Next, Oracle extended its comprehensive retail cloud platform to include the Oracle Retail Payments Cloud Service. This will allow retailers to now accept Apple, Google, and Samsung Pay, without the hidden fees and unpredictable costs that erode the bottom line. This service also runs on Oracle Cloud Infrastructure (OCI), ensuring it has high-security standards, end-to-end encryption, and is PCI/DSS compliant.
Finally, Workday announced its continued momentum within the retail industry, with more than 50% of the retail organizations in the Fortune 500 having selected Workday. Along with this announcement, Workday introduced new demand forecasting to Workday Scheduling and Labor Optimization. The new feature leverages AI and machine learning technology to enable retailers to forecast business demand based on external data, such as sales and foot traffic history.
As the ERP vendors offer more customer-facing functionality, their value to their customers drastically increases because they are solving their real-life problems through automation and artificial intelligence. This will be invaluable to ERP customers moving forward.
On a similar note, AI continues to grow in the market with new advancements emerging across the industry. NICE announced new RPA (Robotic Process Automation) capabilities in its latest release, using AI to identify focused opportunities for automation, then Pr3vent and webAI have partnered to train Pr3vents AI model and remove bias to accurately screen eyes, all on top of the ChatGPT momentum, a product which millions of people are trying.
It is clear to us that basic steps are going to continue to be automated, leaving people to do more creative tasks. This is right in alignment with our own enterprise software projects. With standard ERP and enhanced AI and machine learning investments, the market is finally able to provide solutions that have been the goal of ERP for 50 years.
In the coming weeks, ERP Advisors Group will be attending the NetSuite’s Influencer Conference & the Acumatica Summit, bringing you updates directly from the conference floors. Be on the lookout for our exclusive content and updates.
Thanks for tuning into The ERP Minute. We are always looking for newsworthy material to share with our listeners, so send us breaking ERP news! Be sure to subscribe to our Apple Podcast, Spotify, and YouTube channels so you never miss an episode. We’ll see you next week.