Synopsis: In this Techstrong AI Leadership Insights interview, Mike Vizard speaks with Guy Leibovitz, CEO of Nominal, about transforming traditional ERP systems using generative AI.
Mike Vizard speaks with Guy Leibovitz, CEO of Nominal, about transforming traditional ERP systems using generative AI. Leibovitz highlights the evolution of ERP systems from mainframes to cloud-ledgers, noting that many current systems are outdated and face challenges such as spreadsheet chaos and costly implementations. Nominal addresses these issues by integrating generative AI to automate processes that were traditionally manual, like converting lease documents into journal entries or managing multi-entity consolidations. This AI-driven approach reduces manual workload, accelerates the closing process, and ensures higher accuracy through human verification of AI recommendations.
Leibovitz emphasized that while many ERP vendors are developing AI capabilities, Nominal differentiates itself by focusing on actionable outputs rather than just data retrieval. By integrating with third-party business tools and automating complex business logic, Nominal enhances the efficiency of ERP systems without needing extensive upgrades. He also addresses concerns about job displacement, suggesting that finance professionals should adapt by embracing new technologies, which can free them from repetitive tasks and allow more focus on strategic planning. The discussion underscored the importance of identifying and automating repetitive manual processes to leverage AI effectively in organizational workflows.
