Remember floppy disks? Some manufacturers might as well still be using them. But running a modern manufacturing business on an outdated enterprise resource planning (ERP) system can be like trying to race NASCAR with a horse-drawn carriage.
Aging ERP systems, cobbled together decades ago, have become the Achilles’ heel of an industry that can’t afford to be slow. Supply chain delays, inaccurate inventory forecasts and sluggish decision-making are increasingly the kinds of problems that keep manufacturing bosses up at night.
The fix? Taking the plunge and making the necessary investments in automation, real-time data and artificial intelligence (AI).
“The majority of manufacturers are considering AI in the near future. The momentum is undeniable,” Geoff Brannon, CFO at Rootstock Software, told PYMNTS for the series “A Day in the Life of a CFO.”
According to Brannon, AI agents are being embedded within ERP products to automate administrative tasks such as inventory procurement and payments.
“The technology is advancing quickly,” he said. “It’s exciting to see how it’s transforming industries traditionally tied to legacy systems.”
An equally pivotal digital transformation is underway across finance departments, too, as CFOs increasingly come to realize that speed, efficiency and data-driven decisions aren’t just nice to have; they’re survival tools in today’s world.
The evolving role of the CFO, thanks to both technology and the business environment, is also demanding greater collaboration with other business functions.
“In the past, CFOs were seen as senior accountants. Today, the role is about partnering with the business,” Brannon said. “My job is to support the organization by listening, understanding challenges and helping solve problems.”
This philosophy extends to Brannon’s approach to pipeline development. Rootstock has implemented Power BI to analyze sales execution and pipeline metrics.
“We’ve built an incredible reporting framework that allows us to slice and dice data in countless ways. The iterative process has been invaluable for refining our approach,” he said.
Brannon believes that the role of technology in finance is pivotal. At Rootstock, AI adoption is already underway, thanks to Salesforce’s AgentForce platform.
“We’re using AI to handle initial customer support tickets. It’s efficient and uses natural human language to the point where customers may not realize they’re interacting with a bot,” he said.
Within Rootstock’s own finance function, automation is playing a central role. Brannon highlighted that his team is leveraging AP automation tools and exploring technologies to streamline collections.
“Following up on invoices manually is time intensive. Automating these processes frees up our team to focus on higher-value activities,” he said. “It’s all about driving efficiency.”
For Rootstock, growth is the ultimate objective. “Top-line growth is our primary focus. Profitability will come, but right now, it’s about reaching that 25% to 35% annual growth rate,” Brannon said. Achieving this requires a multi-faceted approach, including robust product development, a strong go-to-market strategy and partnerships.
Brannon praised Rootstock Chief Technology Officer Robert Rostamizadeh for his efforts to shift engineering resources from bug fixes to feature development. “We’ve made significant progress in enhancing our product to attract and retain customers,” he said.
Additionally, Rootstock has recently expanded its reseller network. “Resellers enable us to target both smaller, simpler customers and larger enterprises with complex needs. It’s a game-changer for our growth strategy,” Brannon said.
As a former treasury manager, Brannon brings deep expertise to liquidity management. “Banking platforms today are much easier to navigate than they were 20 years ago,” he said. “We’re fortunate to have strong lender relationships and a team that helps us negotiate and secure the resources we need.”
Looking ahead, Brannon sees predictive analytics as the next frontier for CFOs. “We’re transitioning from generative AI to predictive AI, which offers forward-looking analysis to run the business more effectively,” he said. “It’s early days, but the potential is enormous.”
Apple debuted its lower-cost smartphone, the iPhone 16e, Wednesday (Feb. 19), saying the product’s price starts at $599.
“We’re so excited for iPhone 16e to complete the lineup as a powerful, more affordable option to bring the iPhone experience to even more people,” Kaiann Drance, vice president of worldwide iPhone product marketing at Apple, said in a Wednesday press release.
The new model joins a smartphone lineup that includes the iPhone 15 starting at $699, the iPhone 16 starting at $799 and the iPhone 16 Pro starting at $999, according to the Apple website.
The iPhone 16e is “built for Apple Intelligence,” the company’s artificial intelligence (AI) offering, according to the release.
The smartphone also offers Apple’s A18 chip, the Apple C1 cellular modem, a 48MP Fusion camera system and a 6.1-inch display, the release said.
The Big Tech firm will accept pre-orders for the iPhone 16e in 59 countries and regions beginning Friday (Feb. 21) and will make the phone available beginning Feb. 28, per the release.
The new smartphone will cost $170 more than the iPhone SE that it replaces, Bloomberg reported Wednesday.
It also marks the biggest change in the history of the low-end iPhones that were introduced in 2016 and have not been updated in nearly three years, according to the report.
The company reported in January that during the fourth quarter — the first quarter in which it offered the iPhone 16 and Apple Intelligence — the iPhone 16 models performed stronger in markets where the AI features were available.
Apple reported a record number of iPhone upgraders during the quarter, with the iPhone 16 family outperforming the iPhone 15 family since launch. During a January earnings call, Apple CEO Tim Cook attributed this trend to a strong desire among existing customers to adopt the latest technology, with Apple Intelligence being a key factor.
The company’s installed base of active devices reached a record high of 2.35 billion during the quarter.
When Apple unveiled Apple Intelligence in September, it said the suite of AI-powered features integrates deeply into the company’s ecosystem, leveraging the technology to perform tasks ranging from text refinement to image manipulation, all while prioritizing user privacy.