A COOs Journey to AI and Digital Transformation

Nine out of 10 people want simpler ways to automate daily tasks so they can focus on the work that matters, according to a recent survey by Microsoft.

Outdated technology—including different departments within an organization using different software—generates more administrative tasks and busy work. However, improved access to AI can change that. In the Microsoft survey, the respondents with access to automation and AI-powered tools agree they feel more fulfilled because they can spend time on work that truly matters.

To get started, you’ll want to consider your company’s current state of responsible AI adoption and digital transformation. Are you where you want to be, and what is your vision for the future? Do you have the tools in place to transform your business? What are the core areas of the business where you want to implement AI?

3 Questions Every COO Should Ask

As an operations leader, the systems that you use can make or break the company. Outdated systems can negatively impact financial data and accuracy, as well as employee morale. And with the always looming cyber security risks your business needs to be 100% sure your data is protected.

As the first step, you’ll want to evaluate your current ERP solution.

• Does it meet the needs and requirements of your organization?
• Is the solution cloud-based so your teams can safely and securely access the information they need from anywhere?
• Is this a modern solution that will grow with your business in the face of potential disruption, keeping your data private and secure?

You’ll also want to look into three technology essentials for operations leaders. Many of these modern, user-friendly, intuitive tools do not require technical skills to use.

3 Technology Essentials for the Modern COO

1. Modern ERP Solution: A modern ERP solution, such as Microsoft Dynamics 365 Finance or Business Central, provides flexibility to scale and update systems as needed. The solution integrates various functionalities like financial management and enterprise resource planning (ERP), offering a comprehensive toolset for digital transformation. The solution must be cloud-based for real-time insights and greater visibility into financial operations. This enables seamless access to data and applications from anywhere, facilitating collaboration and decision-making.
2. Transformative AI Tools: Most ERP solutions offer AI tools to accelerate team productivity, create content, and spark ideas. It is important to review which AI tools your ERP solution offers, how easy they are to incorporate into your business applications, and how they integrate with the rest of the technology you are using to create a connected and positive experience. Transformative AI tools, like Microsoft Copilot, unlock the power to add AI to all of your business productivity tools, like Microsoft Outlook, Excel, and Teams, as well as your ERP. In many cases, AI is automatically becoming part of Microsoft business applications with no action required on your end.
3. Advanced BI Tools: BI tools, like Microsoft Power BI, transform how CFOs manage their data with easy-to-use dashboards and improved reporting to better monitor KPIs and keep teams on track. These tools help your team better analyze big data for deeper insights and more accurate forecasting. You’ll want to evaluate what type of BI tools you currently have access to and if adding a new solution could benefit your company. Check the level of technical skills required to use the solution you choose to ensure you have a product that your team can easily utilize without extensive training.

Every COO Needs a Guide

Velosio is here to help you navigate Copilot and Dynamics 365 Finance, Supply Chain Management, or Business Central – exploring capabilities and helping you maximize the technology’s value to your organization. Our close relationship with Microsoft and 30 years of industry experience keep us at the forefront of software developments, and we’re here to help you better understand existing capabilities and how to incorporate them into your business.

If you’re ready to start your digital transformation journey and see how AI can help you create more efficient processes and deeper insights, contact us today. Our experienced consultants can answer your questions, provide in-depth demonstrations, and help you discover how this powerful tool can transform your business.