The global enterprise software company has announced the acquisition of Smart Software, a cloud-based, AI-driven inventory planning and optimisation applications company.
With this acquisition, Epicor aims to deliver ERP solutions that provide practical applications of AI across the spectrum of business operations for the make, move, and sell industries. Financial terms of the transaction were not disclosed.
Steve Murphy, Epicor CEO, said, “The Smart Software acquisition further accelerates our focus in transforming traditional ERP from a system of record to a system of action, giving Epicor customers AI-powered capabilities to turn inventory into a competitive asset that helps drive up customer service levels and drive down costs.”
As an existing Epicor ISV partner, Smart Software solutions are already integrated with several Epicor ERP platforms, extending functionality to help users make informed, strategic inventory decisions that align with their business goals.
Smart Software’s IP&O platform has a cloud-based portfolio of technologies that leverages patented, probabilistic AI and machine learning models to deliver superior forecasting and “what if” analysis.
The models run thousands of simulations of outcomes to deliver precise predictions and avoid unrealistic assumptions, enabling users to better predict demand, stockout risks, and costs. This improves forecasting accuracy, helps users quickly identify and correct inventory imbalances, predicts future operational performance, and tracks actuals.
The benefits would be AI-driven operational efficiency. Businesses can optimise cost savings, improve resource utilisation, and run smoother operations by eliminating manual data entry/data prep and automating demand forecasting while accounting for trends, seasonality, and intermittency. It will also improve customer satisfaction and lifetime value.
“As a long-time Epicor ISV partner, we’re closely aligned in delivering customers the AI-powered technologies they need to improve forecast accuracy and optimize inventory levels,” said Smart Software President Greg Hartunian. “We’re excited to join Epicor and continue our journey in driving innovation across the supply chain industries.”
