IT innovation; you’re only scratching the surface

By Rafael Funes, creator and executive chairman, LOVIS.

The Covid-19 pandemic has been a catalyst for change. We’ve had to become more resourceful, innovative and adaptive and going forward, only businesses with foresight and an ability to respond quickly to evolving situations will thrive.

Yet with so many elements in the manufacturing supply chain, it’s often difficult for businesses to access the data they need to make intuitive, informed-decisions. We know this data exists; but as it’s traditionally held in separate data-sharing interfaces, users have yet to utilise its full potential. 

Current software systems support a whole raft of manufacturing and logistical processes, but they’re not giving users the insights they need. So in response to an industry calling out for technology to instantly connect and share data across the entire manufacturing supply chain, LOVIS has developed a new cloud-based Enterprise Operating System (EOS).

LOVIS EOS is 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. When asked LOVIS Assistant answers, telling business leaders how their organisations are performing in real-time. Imagine being able to access such a wealth of data with just your voice?

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.

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

True innovation

Those who consider themselves to be innovative by using AI to support business functions have only scratched the surface of what can be achieved. True innovation is not just about the launch of LOVIS EOS, it’s in the people with the foresight to embrace this business technology of the future.