When business leaders look to the horizon, they see one surety in terms of what can sustain and grow the business, and that’s the rise of cloud computing. In today’s competitive business ecosystem, the implementation of a cloud-based ERP solution can be the lifeblood of the organization.
With one solution that connects information and data from supply chain, inventory order management, and accounting, as well as human resources and customer relationship management (CRM), a modern ERP system enables the entirety of the company with a real-time view of critical insights.
It is expected that $3.5 million will be spent on cloud apps, platforms, and services this year, according to a 2018 Cloud Computing Survey. Meanwhile, a 2018 ComputerWeekly/TechTarget IT Priorities Survey cites that the strongest business applications continue to be ERP and CRM, with 53% of entities prioritizing investment in these areas.
Companies that seek to innovate can greatly benefit from implementing a True Cloud ERP solution. Here are some of the benefits.
Benefits of Cloud-based ERP
Many companies expect transitioning to a state-of-the-art ERP solution will break their bank — even costing the majority of their annual budget. Not so fast… moving to the cloud is actually quite affordable and can truly escalate business goals.
1. Cost Savings:
Moving to the cloud can save money for companies that are accustomed to managing their own data centers. It’s far better to invest in a cloud solution where a provider is paid a monthly or annual fee, which includes management of the platform. Look for the option to set up payments as recurring, as they can be tax-deductible.
When a company chooses to host on the cloud, it opens up opportunities for its staff to tap into important company insights at any time, and from anywhere; all they need is an Internet-enabled device. This helps everyone within the organization to make better decisions, based on real-time data. It also breaks down silos, as the entire workforce is connected through one interface — departments and locale no longer determine the level of collaboration. Easy to decipher dashboards and reports are created to meet the needs of the individual user or work function.
Offering a platform that grows with the organization eliminates the worry of investing in too much or too little. Whether it’s a start-up or company that is experiencing expansion, a cloud-based ERP is capable of evolving accordingly. The number of users is fluid, and this eliminates added cost.
4. Quick and Secure:
Data centers are hosted and maintained by tech giants such as Amazon Web Services (AWS) and Microsoft Azure, so businesses won’t lose any edge by moving to the cloud. Company information is easily accessible, while offering the best security possible. Don’t worry about location — data is backed up and stored in various global locations, to ensure nothing is compromised.
With the industry booming, there is a lot of competition across the market. There are many players that are patching up outdated systems and trying to sell them as the latest and greatest technology, with the use of fancy marketing. It’s important that decision makers select a provider that truly provides a fully cloud-based solution.
There are warning signs for sub-par solutions that are adapted from older legacy applications and re-engineered for cloud deployment, but business leaders need to take heed. Typically, few of the benefits noted above will be apparent. If there are signs of a “thick client” — which is a full-featured computer that requires software installed on the device, that’s a huge red flag. Longer installation times, dispersed data, upgrades, and difficulty accessing remotely are things to watch for.
Only True Cloud can ensure the speed and responsiveness that meets today’s pressing business needs. It’s always mobile first with a modern ERP; displays should be responsive and reflow automatically, according to the device being used. Acumatica, an award-winning ERP vendor, offers an eBook to help business leaders through the decision process.
Join the Cloud, Today!
Making the decision to implement a cloud-based ERP is the first step — and an important one that can make a difference in the future of a business. The process can be much less daunting with an experienced partner that understands the company’s scope of business, as well as its objectives.
With over 25 years experience, we at Milestone know that business management software and ERP solutions are what can improve ROI (return on investment). Working with clients to meet individual objectives and needs is our speciality. Download our guide to see if it’s time to leave legacy systems behind, and contact us to learn more or to schedule a complimentary software consultation.