Enterprise resource planning software is a hot topic of conversation these days. The benefits of ERP are well acknowledged. It reduces the paperwork, reduces manual errors, thereby saving considerable time of business users and streamlining business operations. When you have ERP in your business, you need not have to invest in disparate systems. That sounds clear, simple and straightforward. Just think of different platforms for tracking sales orders, different systems for tracking invoicing, tracking supply chain, eCommerce, accounting, customer service and so much more. Why invest in different software when work can be managed with a single software.
Cloud ERP is becoming a new norm
Over the last few years, the cloud has gone mainstream. It gives business the unprecedented visibility to stay agile and save cost with pay as you go model. The cost factor, scalability, innovation, heightened security that cloud ERP provides are far more interesting than an on-premise model.
How the Cloud Revolutionized ERP Software?
Here are some areas where the cloud is stepping ahead from the traditional model.
Next-Generation Business Analytics
Cloud ERP has some built-in algorithms that render true powerful analytical insights. The ERP provides critical insights and can tell a business about data and tell a company what the data says, where it has been and where it will lead you. You can dive deeper into the analytics and derive insights with cloud-based ERP.
Usually, an on-premise ERP solution takes a year or months to develop and implement. If a business has the same goals and strategies for this long duration, then waiting for long is justifiable. But, with the intense competition, fast, agile and smart are the characteristics of what a business success holds today. An organization that is waiting for a year or so to grab an opportunity and streamline its business operations with an ERP has already lost to its competitors.
Cloud-based ERP can be deployed in two to six months depending on the nature and complexity of your projects. Since the ERP is hosted in the cloud, you need not have to invest in in-house servers or infrastructure to keep it running. Moreover, regular updates make it more desirable. With cloud-based ERP, businesses can run their updates at the time convenient to them without causing any business disruption. Further, worries like regular data backup is no longer a hurdle.
Cloud application facilitates business users to work on their smart devices from remote locations. So, if your team is stationed and working remotely, they can gain immediate access to best ERP software.
When you invest in an on-premise solution, you also have to buy hardware, hire dedicated staff to maintain it. Depending on how big your business is, you may also need to invest in extra servers and borrow the space to maintain them. That’s a lot of things to do for small businesses.
On the other hand, cloud ERP is typically cost savings. It requires only an internet connection. You need not have to invest in dedicated resources or staff to maintain the server. All headaches are being shared by the dedicated cloud service provider. Further, it is easy on your pocket with its pay as you go model functionality.
With that said, Cloud based ERP software is becoming a talk of the town for its various reasons. It helps reduce IT maintenance costs, reduce duplication of effort, rendering visibility of operations, improve customer interactions, and free business from constant upgrades and other hassles of maintaining it.