Cloud & Data

Transform Your Retail Business: Unleash the Power of AI with Microsoft Dynamics 365 Business Central

Jul 31, 2024

In today’s rapidly evolving retail landscape, artificial intelligence (AI) is no longer a futuristic concept but a practical and valuable tool. At Canary IT, we recognise the transformative power of AI and machine learning (ML) in enhancing customer service and boosting employee productivity. With nearly 90% of employees who have access to AI tools reporting increased job satisfaction, it’s clear that automating monotonous tasks allows them to focus on more engaging activities like customer interaction. 

 

To ensure we can provide our clients with the best retail technology solutions for their business, we are a platinum partner of LS Retail, a world-leading provider of unified POS & ERP software solutions.  

 

Leveraging AI with LS Central 

 

LS Central, built on Microsoft Dynamics 365 Business Central, comes equipped with robust AI features. Integrated tools like Power BI and Copilot streamline daily tasks, supporting retailers in generating product descriptions, forecasting sales, and producing financial reports.  

 

Here’s how these AI capabilities can revolutionise retail operations: 

 

Automate Simple Tasks 

AI significantly enhances efficiency by automating essential tasks such as writing product descriptions, creating innovative marketing ideas for email campaigns, and crafting connected customer journeys. With Microsoft’s built-in AI features, retailers can: 

• Categorise and Sort Products from Images: AI-powered suggestions automatically assign products into categories based on images, simplifying inventory management. 

• Automatically Generate Marketing Copy: Microsoft Copilot crafts engaging marketing copy based on key product attributes like color, material, and size, and publishes it directly to e-commerce platforms or Shopify stores. 

• Tailor Product Descriptions: Copilot creates customised product descriptions, saving time for employees listing multiple products online. 

 

Predict Future Sales 

AI-powered forecasting helps retailers avoid missed sales opportunities and prepare for the future with intelligent inventory predictions. Leveraging historical sales data, retailers can: 

• Order Stock Ahead of Time: Use the Business Central Sales and Inventory Forecast Extension to predict future sales and order products in advance. 

• Manage Costs with Predictive Restocking: Track stock levels and finances with AI predictions, ensuring smoother operations with lower working capital. 

• Forecast Over Customisable Time Periods: Azure AI allows retailers to forecast monthly, quarterly, or annually, with accuracy improving as more data is gathered. 

 

Make Better Sense of Data 

Data is a critical asset for retailers that can help to make informed decisions. Microsoft AI capabilities in Business Central can extract valuable insights from both quantitative and unstructured data, resulting in business intelligence such as: 

• Email Threads: Understand personal preferences, purchase history, and feedback to gain a comprehensive view of consumer trends and behaviors. 

• Accounts and Financial Reports: Perform cash flow analysis to manage incoming and outgoing funds and meet financial obligations on time. 

• Historical Sales Data: Predict stock requirements and potential stockouts with clear overviews from past sales data. 

 

Connecting all this information within an ERP and CRM system allows retailers to implement data-driven marketing strategies and effective sales and inventory forecasting. 

 

Empower Employees 

AI tools like ChatGPT, accessible within Business Central, significantly lighten employees’ workloads. Here’s how: 

• Write Faster Email Replies and Generate Meeting Summaries: Capture key meeting information and compose emails quickly with AI-generated content and auto-corrections. 

• Extract and Interpret Unstructured Data: AI can extract key points from documents and lengthy email threads. 

• Use Natural Language Prompts: Employees can use natural language to interact with ChatGPT, brainstorming ideas, evaluating reports, and resolving customer queries efficiently. 

 

These capabilities enhance communication and provide easier access to crucial information, allowing employees to work more effectively. 

 

Are you ready to transform your retail business with AI? 

At Canary IT, we are committed to helping you harness the power of AI in Business Central. Our experts are ready to show you how AI can enhance both employee and customer experiences. Contact us today to learn more and begin your journey towards a more efficient retail operation.