The business of ERPs is shifting.

Software stocks are under pressure from the potential of AI disruption. Yet many ERPs haven't even uplifted user experiences to SaaS standards.

Enter modern ERPs. They're landing on parts of the value chain and taking share with user experience, automation and AI. They need to rebuild the entire general ledger and accounting modules in the process so they may lack depth in areas as they grow.

Some ways they are doing this:

• Rule-based reconciliation is done, but there are still a lot of month-end close processes that are manual - drilldowns, non-standard journals and reconciliations to name a few. AI is taking over these processes.
• ERPs sit away from operational databases and systems like HRIS, CRMs, data warehouses. AI unifies data to understand variances and insights through a conversational interface.
• Creating custom reports in ERPs requires specialized IT people and knowledge. Reports can now be generated dynamically and refined iteratively.

It's exciting times for modern finance teams.