Brief Description of the Project:

The objective of this project is to implement an AI-based ERP system that focuses exclusively on enhancing invoicing, payment processing, analytics, and budgeting functionalities for businesses. This system aims to automate and streamline financial processes, providing real-time insights and analytics to support better decision-making and financial planning. The project is motivated by the need for more efficient and intelligent financial management tools in small to medium-sized enterprises. The students will be required to create a user-friendly application that integrates advanced AI algorithms to optimize these financial processes, ensuring accuracy, speed, and cost-effectiveness.

Required Skill Set:

Proficiency in AI and Machine Learning algorithms

Strong programming skills in languages such as Python

Knowledge of database management

Familiarity with financial processes and terminology

Ability to design user-friendly interfaces and user experiences (UI/UX)

Experience with cloud computing and data security best practices

Develop a front end of the AI-based ERP system focusing on key modules like invoicing, payment processing, analytics, and budgeting.

Test a function to extract data from documents using AWS Texttract/similar tools.

Ensure seamless navigation and accessibility for user with varying level of technical expertise.

Create a detailed system architecture design that outlines how AI and Machine Learning algorithms will be integrated into the ERP system.

Specify database schemas and management strategies.

Students will have access to necessary software tool and development environments required

Datasets relevant to financial processes (e.g., invoicing data, payment records) will be provided or facilitated for experimentation and algorithm training.

Regular meetings and consultations will be scheduled to review progress, address challenges, and provide feedback on milestones.

Tools for project management and timeline tracking will be introduced to help students plan and monitor progress effectively.

Regular checkpoints and milestones will be established to ensure adherence to project timelines and deliverable deadlines.