Change is constant, but the pace has never been more relentless than it is today. From supply chain shortages and rising gas prices to inflation and changing customer needs, it’s a struggle for businesses to keep up. Increasingly, they need intelligent, automated processes that can adapt to any scenario. They need innovative technology to support new business models. And they need real-time – and predictive – strategic information to steer the ship in the right direction.
Successful companies almost always run on the same type of engine: a ERP in the cloud. This type of software powers super-agility and digital transformation – and delivers far-reaching benefits for modern businesses.
The best news of all? The easy-to-use technologies and automation of a modern ERP will reduce tedious manual work, increase productivity, and ultimately improve employee experiences.
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Discover the top ten benefits of a cloud ERP
The benefits of an ERP are many – and vary from one business to another. A professional services company, for example, will have very different reasons for choosing an ERP system than a manufacturing company.
That being said, here are 10 benefits of a cloud ERP that apply to almost everyone:
The main benefits of a modern cloud ERP system
1. Continuous innovation
Many companies move to cloud ERP software to improve operations, change outdated business models and processes and introduce new capabilities that support best business practices. Cloud ERP improves and accelerates not only financial and accounting practices, but also business operations across the enterprise – and can even extend beyond business partners and networks.
2. Lower costs
With a subscription service, there is no initial purchase cost for ERP hardware or software. Ongoing IT and related personnel costs are also lower since upgrade and maintenance expenses are managed by the vendor. The cost savings can be significant – particularly with a public cloud ERP implementation.
3. Simplicity and automation
With a modern cloud ERP, companies can consolidate standalone legacy applications, standardize and integrate all existing and new applications, and eliminate the use of disconnected systems. They can also simplify workflows, intelligently automate processes, and unlock new efficiencies across the enterprise.
4. New functionality
Cloud ERP providers bring new functionality and application enhancements to all businesses that use their software through continuous updates, as well as several 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. Additionally, if customers identify similar requirements, they can request changes from the ERP vendor. As a result, the overall pace of innovation is more responsive – and much faster.
5. Strategic information in real time
Modern cloud ERP systems have been designed to free Big Data so that you can access information hidden within large and complex data sets. And while legacy ERP systems provide reporting tools, they do not offer real-time, integrated analytics available in the cloud – and they are the key to better decision making. The ability to see trends, predict changes, and automate processes improves resource utilization and significantly improves customer service.
CFOs see workflow automation (68%) and predictive analytics (54%) as having the most potential for future use cases.
Download the research study: «Strategic CFO 360: How New Technologies are Innovating Finance»
6. Mobile ERP
Companies must now provide access to information to employees, subcontractors, suppliers and customers – anytime, anywhere. This requires secure support for mobile devices. Mobile capabilities are integrated into SaaS ERP products rather than added as a later add-on. Modern user interfaces (UIs) with a design that can adapt to mobile screens are key for users.
7. Smart technologies
Smart technologies are being incorporated into modern SaaS ERP solutions to improve productivity. These technologies include artificial intelligence (IA), machine learning, robotic process automation (RPA) e internet of things (IoT), which allows devices such as machines or sensors to return data to applications through the cloud for up-to-date status information.
8. First class security
With cloud systems, ERP security, data backups and disaster recovery is managed by full-time professional security experts. Cloud providers typically have the best data security available; Security breaches in large and growing companies occur primarily with on-premise systems. Because cloud ERP systems are more comprehensive, connected, and collaborative, they avoid vulnerability at integration points and reduce the risks associated with a multi-vendor environment.
9. Quick implementation
Launching a cloud ERP system is much faster than on-premise implementation, as your SaaS provider handles hardware and software installations and provides dedicated staff with data center management expertise. Like consumer mobile apps, enterprise cloud ERP apps can be easily configured. The intuitive user interface makes learning how to use the application quick and easy, speeding up time to productivity and enabling businesses to seize opportunities.
10. Scalability
Because growth can be difficult 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.
The advantages of an ERP are profound
For many organizations, the pros of ERP systems are profound. For example, automating workflows meets high priorities beyond reducing manual work – such as increasing process accuracy and ensuring compliance. Data-rich, actionable insights from advanced analytics can detect inefficiencies and uncover opportunities to grow the business. And for supply chain teams, the cloud can help streamline multi-supplier networks to get a 360-degree view of their ability to keep up with demand profitably and sustainably.
Cloud ERP systems can equip the entire organization, not just finance functions, with the modern tools and technologies they need to move the business forward – and pivot and scale operations to keep up with the relentless pace. of the change.
