All successful business owners know that they cannot achieve consistent growth and profitability without streamlining their operations and keeping up with the market’s changing demands. That’s why so many have been using enterprise resource planning to control every aspect of their operation cycle and boost efficiency.
ERP solutions help businesses perform daily tasks such as monitoring accounts, managing finances, lowering risks and many other activities. ERP systems collect a significant amount of data and allow people all over the organization to access them seamlessly.
Traditionally, ERP systems were offered as local, on-site solutions. However, high operating costs, limited accessibility and mobility, and time-consuming processes discouraged most businesses from adopting these solutions.
That all changed when cloud ERP solutions became the most popular software of the present and the future. If you’re wondering why, keep reading.
What Is Cloud ERP?
Cloud ERP shares many similarities with traditional ERP. The only distinction is that instead of a limited physical device or database, all of the data and basic information is saved on the cloud. It automates operations such as tracking order delivery or linking accounts with receipts and purchase invoices, resulting in greater process efficiency.
Aside from providing results in real-time, another benefit of cloud ERP is that it is much easier to implement because it requires substantially less hardware, such as Physical servers because everything is kept in the cloud. Upgrading on-site ERP systems takes a substantial amount of time and human resources.
There are many reasons why cloud ERP will still be strong and popular in the future. But, for the sake of brevity, we’ve listed only a few of them right here.
Cloud ERP solutions upgrade automatically every day without needing any human intervention. Cloud ERP is more cost-effective because it does not demand considerable hardware and doesn’t introduce hefty costs.
A vendor can offer cloud ERP in the form of a Saas (software as a service) solution. Considering its low costs, you can consider cloud ERP as an ideal solution for many small companies. The information is saved in the cloud, and you can access it with any device and from any location.
The goal of ERP is to increase efficiency, improve productivity, and lower expenses. From the start, cloud ERP systems can help you save money. In most cases, on-site ERP and cloud ERP systems are priced differently.
Purchases of license and investments in servers or other equipment are significant upfront costs for on-premise systems. Since a cloud ERP solution is hosted with the supplier, you only have to pay a monthly charge to use it whenever you need it.
In addition, with most cloud ERP solutions, maintenance and support are a part of the package.
That isn’t always the case with on-site ERP, which may impose additional maintenance, support, and troubleshooting costs. The initial investment, regular maintenance, and support with cloud ERP systems are far cheaper. This increases your profitability and frees up your cash flow to focus on more vital priorities.
Have you ever needed to check in on a project while away from the business? Do you have staff who might need to look up estimates or provide information while visiting a client’s facility?
One of the drawbacks of on-site ERP is that it can only be accessed locally or via remote desktop software. Cloud-based solutions do not have this limitation. All it takes is a simple internet connection for you and your staff to access the software. You have complete insight and transparency into your business from almost anywhere on the planet.
Several years ago, data security meant shutting the server room door and putting complex passwords. Nowadays, it entails improving virtual security with regular patching, testing, and certification. Your system is constantly exposed to new and growing attacks if you have international employees communicating through a VPN.
Sadly, you can’t claim to be safe unless you have systems and staff in place to protect your infrastructure every hour and every day of the year.
A cloud ERP is comprehensive enough to protect every aspect of the operation, including physical networks and passwords. We can predict and reduce disruptions with a holistic approach to security, offering you increased uptime and peace of mind.
Cloud ERP allows you to quickly migrate off of outdated systems and easily and more affordably. It’s challenging to set up on-premise ERP software. It usually demands downtime and always requires a significant amount of time and effort to select a system, negotiate prices, install, troubleshoot, and maintain the system.
With cloud ERP, it’s a different story. It doesn’t need a lot of setups, and you can usually move the workload immediately, which will bring downtime to zero. Many cloud ERP solutions have a simple pricing structure, which is also a substantial advantage.
Easing the IT Department’s Workload
Once you set up the system, most of the support will come from the ERP solution provider. Plus, there’s no need to wait for IT to fix issues or answer your inquiries if you need adjustments, have questions, or are experiencing difficulties. For companies that rely too heavily and too often on their IT resources, cloud ERP is effective in easing the burden on IT and boosting productivity.
Having Access Anytime, Anywhere
Thanks to cloud ERP solutions, clients can enjoy a level of mobility and accessibility that was not possible with traditional systems. Instead of operating on complex infrastructure, people can easily run modern cloud ERP apps on their smartphones and tablets to access data from anywhere in the world.
This is one of the biggest cost-saving factors that let people have all the benefits of legacy ERP and more by installing a simple app on their device. Plus, it saves them a lot of time because they don’t have to be present on-site to access the information.
This means that employees may work from home, on the road, and even during periods when systems are typically down for maintenance (such as over the weekend or midnights). Even if your whole IT infrastructure is damaged in a fire or national calamity, you can still access the data and workflows via a cloud ERP solution.
Full Compatibility with Other Tools
One of the prevalent issues with many traditional ERP systems is that they are not compatible, especially when upgrading to a new solution. Cloud ERP solutions usually use Standard tools to quickly simplify integration with other technology so you can transfer information from other systems to the ERP system and get a more detailed and up-to-date view of your data.
No Problem with Software Licensing Audits
Software providers have focused far more on auditing businesses that use their solutions in the past few years. Even if your company complies with licencing standards, the auditing procedure is costly and time-consuming. There is no on-site software to audit with a cloud platform. You’ll never receive one of those horrible audit notification letters again.
Access to consistent data is critical for businesses with remote employees or international workforces, and storing such data on cloud ERP is the solution. You can easily expand your reach without needing a sophisticated IT infrastructure.
Cloud ERP systems provide you with a global presence, making it easy to set up new production facilities and warehouses in any location you need. Localized content and features also make compliance with local rules and other elements of international trade much easier.
It’s very difficult to retrieve lost data from on-site legacy ERP systems that store all their data in a single location.
Despite the lack of backup in on-site solutions, Cloud ERP has the backup storage to restore all accidentally deleted data. Plus, these modern solutions can store data in unlimited storage, safe from any source of harm.
All factors, from cost-effectiveness, global reach, compatibility, and many others, make cloud ERP very easy to use. That’s why these solutions take root much faster than the traditional ERP software. Plus, it’s not just for giant corporations anymore. Today, all businesses, small or large, can use cloud ERP to stay ahead of the curve.
There’s no doubt that cloud ERP plays a big role in day-to-day operations of all companies. All of these benefits make cloud ERP solutions easy to use, install, and upgrade. Of course, it’s vital to know that there’s no one-size-fits-all solution that can cater to every industry. That’s why as a business, you need to clearly understand what you want and how the ERP solution will help you get there.
By doing so, you will know the perfect ERP software when you see it. Yes, affordability matters, but it’s far more essential to find a reliable provider with adjustable solutions that can meet your unique operational and financial needs.
We at IMTS provide the perfect solution to boost your operational efficiency and profitability while allowing you to focus on staying on top of the latest trends in the market.
Hence, what are you waiting for? Just contact our team of experts, and let’s get going!