Epicor will streamline procurement workflows using generative AI to extract pricing and lead times from emails — and will price the new service based on the value it delivers.
ERP software provider Epicor has added a new AI agent — Epicor Prism Business Communications — to its Prism generative AI service, designed to help enterprises’ supply chain divisions automate request for quote (RFQ) workflows and accelerate supplier communications.
Prism, released last year, is a network of vertical AI agents built specifically for the supply chain industries and integrated inside the company’s Industry ERP Cloud.
The new AI agent, according to Epicor, will automate the RFQ process by reading supplier emails, pulling out pricing, lead times, and part details, and then pushing that data to a user to make more informed decisions via a conversational interface.
RFQ is a typical supply chain process that enterprises employ to identify suitable vendors for a particular product or service.
The agent can compare quotes, track response times, and flag errors or omissions.
“This can save time for repetitive tasks and help companies be more efficient with purchasing decisions,” said Robert Kramer, principal analyst at Moor Insights and Strategy.
However, Epicor is not the only ERP software provider that is adding agents for automating workflows in the supply chain space.
While SAP offers agents in procurement and supply chain tasks, NetSuite has embedded AI assistants. ServiceNow, too, has AI agents for supplier and finance workflows.
However, Epicor stands out as it has a “more narrow focus” on industries like manufacturing and distribution, Kramer pointed out.
Outcome-based pricing
Epicor Prism Business Communications also has another differentiator that most of its rivals currently lack — outcome-based pricing, a pricing technique wherein enterprises pay only for the results the software is able to deliver successfully.
Although Epicor hasn’t expanded on the details of the outcome-based pricing, Kramer said the ERP provider is trying to attract enterprises by showcasing an avenue to reduce expenditure on AI-based agents, albeit in exchange for a revenue hit.
“Epicor may give up some near-term revenue by not charging upfront. But the trade-off is easier adoption, stronger customer trust, and a chance to expand its share in a crowded ERP market,” Kramer explained.
Epicor Prism Business Communications is also being made available as part of Epicor Kinetic, the company’s cloud-based ERP offering designed primarily for the manufacturing industry.
