How AI can help to ensure efficient and fair resource planning
Enterprise Resource Planning (ERP) is a common challenge in almost all companies whose operations require a variety of complex planning decisions and tasks.
Resource planners need to have a holistic picture of projects while relying on different sources of information for project executions. They need to gather the correct information for projects and ultimately use the information they have to effectively plan their time, budget, and talent. But, when planning goes wrong due to human error, it can cause unwanted delays and expensive additional costs.
Moreover, workforce planners are also expected to efficiently balance the use of available talent and consider individual preferences to perform optimally. However, finding this balance can be a struggle and leads to the question - can a computer handle these complex tasks and planning decisions better?
The Zurich-based artificial intelligence enterprise, aspaara AG, is convinced that artificial intelligence (AI) can. We have developed an algorithm called MatchingCore® that supports workforce planning decisions and have already seen success serving large clients from different industries.
“We support our customers in making internal resource planning ready for the ‘future of work’”, says Dr Alexander Grimm, CEO of aspaara AG.
MatchingCore® is not only intended to make companies' internal resource planning more efficient. But it also puts the talent – with their skills, interests, and preferences – at the centre of resource planning so that companies can further leverage talent-centred workforce planning. The AI-powered cloud platform helps increase productivity and boosts the satisfaction of employees and clients while reducing costs.
Tackling the talent shortage with AI
Research shows companies are struggling to find talent, despite their willingness to pay high rates to fulfil their growth targets. A study conducted by PwC across several industries showed that 77% of the respondents thought hiring and retaining talent are the two most significant requirements needed to achieve growth, while 48% of the respondents believed that talent shortage is the biggest threat to not meeting their company's growth ambitions.
The talent on the market is currently demanding higher compensation, and 62% of companies are willing to pay up to the limit of profitability. It is clear, then, that maximising the potential of the available talent pool and keeping talent at the centre of company operations is becoming critical for talent retention. This is where MatchingCore® comes in – using AI to help companies maximise the use of their talent pool while evenly distributing the workload fairly and efficiently among all other talents.
The path to a tailor-made AI resource planning
aspaara AG offers the planning platform MatchingCore® which can be tailored precisely to the customer's individual resource planning needs and challenges. When the needs and challenges have been identified, situation profiles are created by combining internal company data and related external data to provide the customer with a comprehensive data analysis. A customised optimisation package is then generated based on the data analysis results.
Before going life with MatchingCore®, various optimization tracks are configured and tested to fine-tune the AI engine. During this phase, we work very closely with our customers to ensure MatchingCore® creates their best plan given their very situation.
AI opens new perspectives for resource planners
MatchingCore® is a solution that support planners’ complex decision-making processes with AI assisted planning to create and evaluate a variety of scenarios – enabling planners to consider various influencing factors such as , compliance, custoemr priorities, margin or staff preferences when making their decisions.
In planning situations with multiple influencing factors, MatchingCore®’ will allways create the best plan this is of great help in cases that are too complex to optimize for humans. The planners can combine their knowledge and experience to work hand in hand with AI assistance to achieve the most advantageous planning solution possible – the best plan.
AI-driven algorithm has no thinking barriers and as a result, it can show the planner unconsidered and unbiased possibilities. The algorithm can offer combinations of talent for a project or a sequence that the planner might not have been familiar with, which in practice may prove to be more efficient. However, the solutions suggested by MatchingCore® are not binding. The planner always has the final say and can override the suggestions if they see a better solution.
AI incorporates individual preferences
MatchingCore® not only has the advantage of allocating talent more efficiently in terms of time but also considers their personal preferences. How is this win-win situation enabled?
The underlying algorithm is continuously refined and improved. All relevant factors are measured using various parameters, such as time spent on a certain task per talent, the talent specifying their desired vacation time or preferred team to work with. MatchingCore® will then combine all this data to achieve ideal results in terms of time, efficiency, and personal needs.
HR managers can focus on core tasks
When AI supports ERP, up to 50% of low level planning time can be saved to focus more on the talent rather than on scheduling. Planners can use this AI assisted resource planning solution to establish a data-based decision-making process in their company. Planning from scratch will no longer be necessary since all the required information will be provided. The MatchingCore® software continuously provides a company with suggestions how to optimise the current plan.
Highest efficiency in various industries
AI-driven resource planning is an asset across industries. Well-known companies from a wide range of sectors are more than satisfied with MatchingCore® and as important the world class team of experts behind it.
Client success stories and research data have shown that labour costs were decreased while productivity was boosted substantially using MatchingCore®. Our experience shows that if 500 people are planned with MatchingCore®, additional capacity in the equivalent of 15 FTEs can be freed up by the best plan.
Experience the efficient enhancement of your ERP process with MatchingCore®.