Cloud ERP (Enterprise Resource Planning) is changing the business game. According to Forbes, “Cloud ERP is the fastest growing sector of the global ERP market with services-based businesses driving the majority of new revenue growth.”
They cited the increased flexibility and speed of cloud ERP as chief factors in the fast-emerging system’s success.
What does this mean for growing SMBs? In addition to the myriad advantages cloud systems provide over their on-premises counterparts, making use of cloud ERP opens the door to some interesting capabilities you might not have considered. The following are just a few examples.
1. You can go mobile
If you’re accustomed to using on-premise ERP, you already know you have to stay connected into the local server to gain access to it. This isn’t the case with cloud ERP.
As a cloud-based system, you can pull up information from your cloud ERP anywhere you have an internet connection, on almost any device. This increased availability translates to an improved ability to collaborate with your team and freedom to engage in critical business while on the go.
2. You can streamline your operations
As a function of cloud ERP’s accessibility and mobility, you can streamline your business operations and productivity. You needn’t wait for an onsite connection to perform critical tasks. You can perform those tasks wherever and whenever you choose.
Let’s use accounting as an example.
Working in tandem and on the go, you and your team can ensure that accounts are always accurate and current. This also grants a real-time look at your accounts/finances—an invaluable benefit in situations where every moment counts.
3. You can scale more easily
With cloud ERP, you aren’t “locked in” as restrictively as you might be with on-premise ERP. This means you can scale-up—adding new features and functions as they become necessary—more easily. You can grow at your own pace and improve your business more strategically than before.
4. You can stay up-to-date automatically
When using on-premise ERP, the downtime and scheduling woes of software updates are often a major hassle. You might have to shut down your system entirely to perform said updates, and may even lose some of the customizations you had in place.
With cloud ERP, you can perform updates automatically without affecting your business or losing integrations and customization. The process is quicker, simpler, and more conducive to allowing your business to continue moving ahead at full steam.
5. You can maintain tighter security
With cloud ERP, you can manage security concerns more easily than with on-premise ERP. The cloud-based solution mitigates the need for team members to save sensitive files to their devices. They can access what they need through portals and dashboards.
And in the event a device goes missing, you’ve reduced the likelihood of important information falling into the wrong hands.
A dual advantage here is that with most of your information stored in the cloud, you’re already ahead of the curve if disaster strikes at your place of business and you need to implement your business continuity plan to stay in action.
Keep the cloud in mind when selecting your ERP
The amount you can do with cloud ERP will often outclass what’s capable with an on-premise ERP system. Be sure to work with a provider who understands the finer points of cloud ERP implementation to maximize your potential benefits.