{"id":2688,"date":"2022-09-09T18:56:05","date_gmt":"2022-09-09T18:56:05","guid":{"rendered":"https:\/\/solutionsreview.com\/business-process-management\/?p=2688"},"modified":"2023-09-08T19:39:35","modified_gmt":"2023-09-08T19:39:35","slug":"maneuver-labor-market-challenges-with-intelligent-software","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/business-process-management\/maneuver-labor-market-challenges-with-intelligent-software\/","title":{"rendered":"Maneuver Labor Market Challenges with Intelligent Software"},"content":{"rendered":"

\"How<\/p>\n

As part of Solutions Review\u2019s Contributed Content Series<\/a>\u2014a collection of articles written by industry thought leaders in maturing software categories\u2014Ali Jani, the chief product officer at <\/span><\/span>Acumatica<\/span><\/span><\/a>, explains how intelligent software solutions can help companies maneuver through recent challenges in the labor market.<\/strong><\/em><\/p>\n

Approximately <\/span>47 million people quit their jobs<\/span><\/a> last year, resulting in a <\/span>severe staffing shortage<\/span><\/a> for businesses across industries. Recent data shows that we have 11.4 million job openings in the U.S.\u2014<\/span>but only 6 million unemployed workers<\/span><\/a>. <\/span>At the same time, cost-cutting measures are spreading in some industries, which has led to <\/span>layoffs and hiring freezes<\/span><\/a>.<\/span>\u00a0<\/span>Today’s complex labor market has left business leaders searching for ways to streamline and automate processes that don’t require extra staff. <\/span><\/p>\n

According to one survey, <\/span>two-thirds of executives<\/span><\/a> said their companies were affected by labor shortages, and nearly 80 percent said they would invest in automation to help offset the lack of workers.<\/span>\u00a0<\/span><\/p>\n

Supplement Existing Talent with Digital Technology<\/span><\/b>\u00a0<\/span><\/h3>\n

One solution available to businesses is cloud-based and AI-enabled technology. These technologies allow employees to focus their time on practical work instead of traditionally mundane tasks such as data entry and accounts payable. Businesses that utilize these technologies will maximize employee efficiencies by streamlining workflows.<\/span>\u00a0<\/span><\/p>\n

At the same time, companies can integrate AI to evaluate a given project’s strengths, weaknesses, and profitability. AI and ML\u202fprovide company leaders with information and insight into exactly where their money\u202fis going and how the business benefits.\u202fUsing AI technology, decision-makers can predict future roadblocks and implement changes to ensure operations run as smoothly as possible.\u00a0<\/span>\u00a0<\/span><\/p>\n

When AI tools are part of a broader business management solution<\/a><\/strong>, executives can thoroughly manage potential risks\u202fvia a single business view while maintaining a fine-tuned visibility into budget allocation. In addition, <\/span>businesses can gather and sync data from every department into a centralized database. As a result, the business can boost collaboration and automate redundant tasks. Ultimately, companies can work smarter with fewer people.<\/span>\u00a0<\/span><\/p>\n

Additive-X<\/span><\/a>\u2014a 3-D printer and additive manufacturing services provider\u2014experienced this firsthand. By implementing an intelligent business management solution, Additive-X was able to:<\/span>\u00a0<\/span><\/p>\n