10 BENEFITS OF CLOUD ERP!

The benefits of ERP are many – and they vary from business to business. A professional services company, for example, will have very different reasons for choosing an ERP system than a manufacturing company.That said, here are 10 cloud ERP benefits that apply to just about everyone:?

The top benefits of a modern cloud ERP system -

1. Continuous innovation?

Many businesses move to cloud ERP software to improve operations, change outdated business models and processes, and introduce new capabilities that support business best practices. Cloud ERP improves and speeds up not only finance and accounting practices, but operations across the company – and can even extend beyond to business partners and networks.

2. Lower costs

With a subscription service, there’s no upfront purchase cost for hardware or ERP software. Ongoing IT and related staff costs are also lower as upgrade and maintenance expenses are handled by the provider. Cost savings can be significant – particularly with a public cloud ERP deployment.

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3. Simplicity and automation

With a modern cloud ERP, companies can consolidate standalone legacy applications, standardise and integrate all existing and new applications, and eliminate the use of disconnected systems. They can also simplify workflows, intelligently automate processes, and gain new efficiencies across the business.

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4. New functionality

Cloud ERP vendors deliver new functionality and application improvements to all companies that use their software through continuous upgrades, as well as several new larger releases per year. Since updates are delivered to everyone at once, you never miss an opportunity while waiting for a vendor to update your custom ERP system. Also, if customers identify similar requirements, they can push the ERP vendor for changes. As a result, the overall pace of innovation is more responsive – and a lot faster.

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5. Real-time insights

Modern cloud ERP systems have been architected to unlock Big Data so you can access information hidden within large and complex data sets. And while legacy ERP systems provide reporting tools, they do not offer the integrated, real-time analytics available through the cloud – and these are the key to better decision-making. The ability to see trends, predict changes, and automate processes improves resource usage and vastly enhances customer service.

CFOs view workflow automation (68%) and predictive analytics (54%) as having the greatest potential for future use cases.?

6. Mobile ERP

Businesses must now provide information access to employees, subcontractors, vendors, and customers – anywhere, at any time. This requires secure mobile device support. Mobile capabilities are built into SaaS ERP products rather than added on as an afterthought. Modern user interfaces (UI) with a responsive design to fit mobile screens are key for users.

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7. Intelligent technologies

Intelligent technologies are being built into modern SaaS ERP solutions to improve productivity. These technologies include artificial intelligence (AI), machine learning, robotic process automation (RPA), and the Internet of Things (IoT) – which allows devices such as machines or sensors to feed data back to applications through the cloud for up-to-date status information.

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8. World-class security

With cloud systems, ERP security, data backups, and disaster recovery are handled by full-time, professional security experts. Cloud vendors typically have the best data security available; security breaches in large and midsize companies occur primarily with on-premise systems. Because cloud ERP systems are more complete, connected, and collaborative, they avoid vulnerability at points of integration and reduce risks associated with a multi-vendor landscape.

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9. Fast implementation

Ramp-up for a cloud ERP system is much quicker than on-premise deployment, as your SaaS supplier handles hardware and software installations and provides dedicated staff with data centre management expertise. Like consumer mobile apps, cloud ERP business applications can be configured easily. The intuitive user interface makes learning to use the app fast and easy – speeding time to productivity and allowing businesses to seize opportunity.

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10. Scalability

?As growth can be hard to forecast, scalability is important. With a SaaS ERP solution, you can simply add additional computing power or data storage capacity if you experience rapid growth, rather than incurring a large capital expense.

To conclude cloud ERP systems can equip the entire organisation, not just finance functions, with the modern tools and technologies they need to move the company forward – and pivot and scale operations to keep up with the relentless pace of change.