Benefits of using a Cloud ERP

Modern business leaders aim at creating a robust performance culture, which takes resilience, competence, speed, accuracy, and systems that scale fast – An ERP supports these five factors, the prerequisite for high paced and sustainable growth in the market.

More specifically, Businesses that use Cloud ERP can scale fast, need not spend on maintaining the servers, and gets real-time accessibility from anywhere and everywhere. While on the other hand legacy ERPs are hosted on-site. Businesses buy licenses and install them on the office’s server. The cost of maintaining the infrastructure and IT team is huge and systems can’t be accessed offsite or from home.

Cloud ERP maybe like an ERP hosted on-premise in terms of core capabilities but there are sizeable differences in the pace, flexibility, and convenience of using both the ERPs. For cloud-based ERP, Businesses pay the subscription, and their teams can access the system from any internet-connected device. Cloud ERP could help your business scale fast, increase speed, efficiency, and ultimately your growth. You’re missing out on these five benefits if you are not using Cloud ERP.

Cloud ERP: The Future of Enterprise Resource Planning

We all have seen the cloud ERP’s evolution in the last couple of decades. But the future is looking even brighter with the integration of modern technologies like AI, ML and IoT into cloud ERP. The best thing is these innovations will address some of the major concerns businesses have which prevent them from investing in a cloud ERP.

One of the concerns is technology is too complicated to leverage seamlessly by the employees. Again, with the rise in cyber threats, businesses have doubts regarding cloud security. However, with the modern technologies in the pipeline, these issues will be solved and technology will get easier to adopt for businesses.

Let’s understand how. AI and ML technologies optimise ERP solutions through task automation and error minimisation, while advanced analytics anticipate tasks and solve issues beforehand. If you want to predict customer behaviour and potential equipment failure, you will get data from IoT-enabled devices analysed by IoT technology.

Mobility features during remote collaboration automate and streamline processes. AI and blockchain empower emerging security features to detect anomalies and prevent unauthorised access. Therefore, embrace these advanced technologies to not only thrive but to excel in this ever-evolving business dynamics.

10 Reasons to Move to Cloud

A cloud ERP can drive digital transformation and super agility for your business to maintain its pace with the ever-evolving digital landscape.

There are numerous benefits of a cloud ERP, which vary from business to business. let’s discuss the 10 most common benefits of a cloud ERP solution that generally become the essential reasons for a business to move to an ERP system.

Innovation Capacity

Cloud ERP transforms the operations across the entire organisation, improving and accelerating different business processes. One reason to transition to cloud ERP is to streamline operations, modernise legacy business models and processes, and install new capabilities that promote best business practices.

Automated Business Processes

One of the reasons to employ a cloud ERP is to enable businesses to consolidate disparate legacy applications, standardise and integrate current and new software and eliminate the reliance on disjointed systems for seamless collaboration. It can automate processes to simplify workflows and unlock unconditional growth across the entire business ecosystem.

Real-time Data

Another reason to leverage a cloud ERP is to grant access to insights buried in extensive and complex databases with the help of Big Data. Unlike legacy ERP solutions, it fosters informed decision-making by offering reporting tools with integrated and real-time analytics. The capacity to identify trends and anticipate changes enhances resource utilisation and greatly improves customer service standards.

Reduce Costs

The cloud ERP offers a subscription payment service which means that it has no huge upfront investment for hardware or ERP software. Also, ongoing IT and associated staff expenses are minimised since upgrade and maintenance responsibilities are managed by the provider. In fact, with a public cloud ERP system, the potential for cost savings is considerable.

Remote Access

To keep up with the continuously evolving business dynamics, it’s essential to grant access to your employees, vendors, subcontractors and customers to real-time information. The cloud ERP has this mobile capability to prioritise accessibility. Even, ERP systems with mobile user interfaces featuring responsive designs tailored for mobile screens are essential for enhancing user experience.

Updated Features

Cloud ERP ensures that businesses are always updated with the latest advancements through regular upgrades. Since the cloud ERP has access to universally deployed updates, there’s no risk of missing out while waiting for a vendor to update a custom ERP system. Additionally, if multiple customers identify similar needs, they can collectively advocate for changes from the ERP provider.

Smart Technology

Cloud ERP has the capability to integrate with intelligent technologies to enhance business productivity. Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT) and Robotic Process Automation (RPA) enable sensors or machines to transmit data to applications via the cloud, ensuring real-time status updates.

Quick Deployment

Cloud ERP implementation is much faster than setting up an on-premise solution. This is because the SaaS provider completely handles the hardware and software installations, assisted by a team with expertise in data centre management. Additionally, the cloud ERP solutions are also easy to configure. It ultimately boosts productivity and empowers businesses to seize opportunities faster.

Premium Security

If you choose a cloud ERP solution, security, data backups, and disaster recovery are handled by full-time, professional security experts. Security issues, data breaches occur with on-premises systems in mid-size and large companies, which can be overcome with the robust security features of cloud ERP. Since cloud ERP offers real-time collaborative features, the integration vulnerabilities and risks linked to a multi-vendor setup can be reduced.

Customisation Simplicity

If you want to customise an on-premises solution, it will cost you more due to the requirement of more time and IT personnel resources. Whereas, with a cloud ERP, everything can be managed easily, including the integration of suitable ERP functionalities, third-party applications, and any needed software and hardware upgrades.

Not Using Cloud ERP Yet? 5 benefits you’re missing!

Flexible Solution

Cloud ERP makes your teams flexible; they can work from anywhere and access the system with any internet-enabled device. This results in increased productivity as all the employees are seeing the same information and there is no scope for miscommunication. The data is secured over the cloud and is accessible from anywhere.

Scale Faster

Cloud ERP comes with enough functionalities that you might not use at first but when you grow, and integrate more business processes, the Cloud ERP will support your business expansion without any hassle. Unlike On-site ERP, where a small change in business process or expansion plan would require the hardware reconfiguration that takes a whole lot of tolls on the expenditure, many a times servers crash, and do not support your expansion plan.

Improved backup and security

The cloud ERP provider’s team across the world constantly monitors and checks the data storage equipment, patches security holes, and maintains backup to ensure that the data is available when you need it. The cloud Servers ensure to provide you next-level security and that too at no cost of manual server maintenance for you.

No maintenance cost

Businesses that choose ERP on the cloud do not have to worry about the cost of maintaining the servers and hardware. They only pay a small subscription fee and everything else is taken care by the provider. The initial investment cost of moving from on-premises to on-cloud might seem heavy to some people, but it saves you a lot of money and trouble in future.

Faster speeds

For an SMB moving from on-premises to on-cloud would result in noticeably increased speed. The provider who hosts Cloud ERP uses top-of-the-range equipment to maintain data centers where the systems are hosted. These data centers provide optimal speed that can’t be matched with onsite servers.

Experience Growth, Get Cloud Today

If you are not operating with business systems flexibility and scalability through the cloud, your business is held back. For surviving and thriving in this robust environment, businesses need fast, and scalable business management solutions hosted on Cloud. Move to the cloud and unlock unimaginable growth for your business.

FAQ

1. What is Cloud ERP?

Ans: Cloud ERP refers to enterprise resource planning solutions accessible via the Internet. The main benefit is that it grants employees access to information and allows them to perform their jobs from any location at any time. Most importantly, it provides scalability and innovation opportunities to accommodate your business growth.

One can avail of cloud ERP as a service on a provider’s cloud computing platform, commonly known as the software-as-a-service (SaaS) ERP model. Customers lease the software through annual and monthly subscriptions under this model.

It leads to the elimination of upfront hardware expenses. Additionally, the vendor assumes the responsibility for application maintenance, upgrades, data storage and security measures.

2.What are the benefits of Cloud ERP?

Ans: The benefits of cloud ERP are mentioned below:

Infrastructure and Operational Cost

Cloud ERP leads to a significant reduction in costs, starting from the implementation phase. On-premises ERP results in upfront expenditures on acquiring servers, establishing databases, initiating implementation processes, hiring consultations, staffing IT personnel and ensuring security measures and backups.

Deployment Speed

Cloud ERP ensures faster deployment compared to on-premise ERP, as it eliminates the need for selecting and configuring hardware or recruiting and training IT personnel.

Remote Access

Cloud ERP empowers businesses to access business data anywhere at any time. It enables employees to access consistent data, irrespective of their business unit or geographical location, enabling quick and informed decision-making.

Scalability

Cloud ERP solutions simplify the process of scaling a business by eliminating the complexities associated with adding additional servers for accommodating more users, locations, or subsidiaries. As a business evolves, the cloud ERP grows seamlessly to accommodate the changing needs.

Flexibility

Cloud ERP offers greater flexibility for customisation to align with the growing needs of the business. These solutions also exhibit seamless integration with other cloud-based solutions to add new features without downtime or the need for additional hardware. However, with on-premise ERP, the customisation is often dependent on the existing solution and may encounter challenges while transitioning to future versions.

Upgrades

Cloud ERP partners generally handle all system upgrades and updates continuously, seamlessly aligning with growing business needs and making sure that customers have access to the latest technology. Also, cloud ERP updates are completed in less time as compared to on-premises ERP and are scheduled during off-hours to reduce business disruptions.

Storage

In the case of cloud ERP, data is stored in the provider’s data centres across multiple geographic locations, leading to data resilience and accessibility. Since more job functions are transitioning online, cloud ERP enables businesses to have access to real-time information over the Internet. Whereas, with on-premises ERP, if hardware fails, the business may incur significant time and expenses in transferring data to a new storage system.

3 What are the five benefits of ERP?

Ans: The five benefits of an ERP solutions are mentioned below:

Centralised Data

ERP systems consolidate information from various departments that are scattered in different spreadsheets and applications in a single location. It eliminates the need for the employees to find data at the time of requirement. Additionally, it also mitigates the risk of data duplicacy.

Enhanced Productivity

ERP systems automate mundane, repetitive tasks, freeing up employees to focus on the tasks which can add more value to the organisation. It streamlines all business operations and fosters real-time connectivity across all departments so that the employees get the required information at the correct time to make an informed decision and perform the task effectively.

Scalability

ERP systems can adapt to your business’s growth and changes. You can start with the essential features and add more capabilities as required. As your team size increases, you can easily include new users. There’s no need to adopt a new ERP solution as your business evolves.

Cost-Savings

Implementing an ERP system ensures higher ROI as its automation capabilities can significantly reduce or eliminate many administrative and operational expenses. For example, it can do away with manual data entry and lengthy paper trails. Using a single platform, you can manage your organisation, leading to fast identification of sources of high costs, making it much simpler to reduce costs.

Compliance

ERP systems offer customisable reporting tools that make it much easier to monitor compliance and make adjustments as needed. This increased accessibility of information enhances your auditability, ensuring that auditors can quickly find what they need. Real-time data greatly reduces the effort required to meet regulatory requirements.

4 Why move from On-Prem to On-Cloud?

Ans: The reasons for upgrading your on-premises ERP to cloud ERP are mentioned below:

• Significantly lower cost investment in cloud ERP
• Automatic updates are available with cloud ERP, and maintenance is handled by the ERP provider.
• Provide access to real-time data from anywhere at any time
• The implementation process is quite fast and entirely handled by the ERP provider
• Seamless customisation with any 3rd party applications
• Scalable solution to accommodate growing business requirements
• Backed by AI, robust security features detect any irregularities and prevent unauthorised access.