Enterprise resource planning (ERP) tools are an important part of how businesses run in the 21st century.
They give all of the company’s data a single source of truth & help streamline processes, improve speed, make better decisions.
Many businesses now use cloud-based enterprise resource planning (ERP) solutions to stay competitive and take advantage of new technologies.
In this blog, I’ll go over some of the benefits of using ERP software in the cloud.
Advantages to cloud-based ERP systems
1. Cost Savings
One of the greatest benefits of ERP cloud solutions is the cost savings they may provide. Traditional ERP systems involve numerous expenses, including tools, software, licensing fees, and IT infrastructure.
However, cloud-based ERP systems typically come as a subscription service, with companies paying only for the resources they actually use.
This means businesses can avoid the high upfront costs of standard ERP systems instead pay a predictable, affordable subscription fee.
Also, cloud-based ERP systems need less hardware IT infrastructure than traditional ERP systems, which lowers the costs of upkeep & upgrades.
Companies don’t have to buy and care for expensive hardware, computers, and networking equipment. Instead, the cloud-based ERP company handles all hardware and software updates. This makes it easier for businesses.
Cloud-based ERP systems let businesses change how big their operations are based on what they need to do. To grow with traditional ERP systems, businesses must buy more gear and software licences, which can be expensive and take time.
In contrast, businesses can swiftly expand or reduce cloud-based ERP systems to adapt to evolving business needs.
This allows businesses to scale up or down as needed without having to invest in additional hardware or software. This is why ERP systems are so useful for rapidly expanding or contracting enterprises.
They are also more flexible than traditional ERP systems. Users can access cloud-based ERP systems from any location, at any time, and using any internet-connected device. This means businesses can access their ERP system from multiple locations and devices, including smartphones and tablets, allowing employees to work remotely or on the go.
They also offer more flexibility in terms of customization and integration with other systems. Businesses can tailor the system to their needs and integrate it with other software and applications, such as CRM and accounting software.
4. Improved Collaboration
They offer improved collaboration among employees, departments, and locations. In contrast, traditional ERP systems often have limitations that restrict access to on-premises usage, thereby limiting employees to accessing the system solely within the company’s network.
This can make it difficult for employees who work remotely or from different locations to collaborate effectively.
On the contrary, cloud-based ERP systems offer the flexibility of accessing them from any location, enabling employees to collaborate on projects and share data in real time.
This has the potential to increase staff engagement, which results in more informed decisions and higher output.
Cloud-based ERP software is often more secure than traditional ERP systems. Cloud-based ERP providers typically invest heavily in security measures to protect their clients’ data, including data encryption, firewalls, and regular security audits.
This means that businesses don’t have to worry about investing in expensive security measures, as the cloud-based ERP provider takes care of them.
Moreover, cloud-based ERP systems undergo regular backups, enabling businesses to swiftly restore their data in the event of a disaster or cyber attack.
6. Automatic Upgrades
They offer automatic upgrades, ensuring that businesses always use the latest version of the software. Traditional ERP systems can be costly and time-consuming to upgrade, as businesses must purchase new hardware, software licences and hire IT staff to install and configure the upgrades.
In contrast, cloud-based ERP providers take care of all upgrades, ensuring that businesses can always access the latest features and improvements.
Cloud-based ERP systems offer more fantastic customization options than on-premise systems. The highly configurable cloud-based systems allow companies to tailor the system to their specific needs.
This customization means businesses can choose the features and modules they need and avoid paying for those they don’t. The ability to customise the system also means that businesses can easily make changes to adapt to changing business needs.
ERP systems offer easy integration with cloud-based applications, such as customer relationship management (CRM) and human resources (HR) systems.
This integration means businesses can easily share data between systems, reducing the risk of errors and duplication.
Integration empowers businesses to make use of top-notch software for each specific function, rather than being limited to the offerings of a single vendor.
9. Business Intelligence
Cloud-based ERP systems provide real-time insights into company data, allowing businesses to make better-informed decisions. These systems offer powerful reporting and analytics capabilities, allowing companies to identify trends and opportunities quickly.
Real-time data also means that companies can respond quickly to changes in the market, reducing the risk of missed opportunities or lost revenue.
Do you also need an advanced & reliable cloud-based ERP system with post-sale service?
Meghsundar Private Limited, one of the most prominent ERP development firms, provides a full suite of ERP services, from accounting and human resources to inventory and customer relations.
Our solutions are customizable to meet the specific needs of each business, and we offer implementation, training, and support services to ensure that our clients get the most out of their ERP systems.
Some benefits of using Meghsundar Private Limited’s cloud-based ERP solutions include increased efficiency and productivity, better data management, improved decision-making, and cost savings.
Additionally, our solutions are scalable, meaning they can accommodate businesses of any size grow with the business as it expands.
If you work with us, you’ll always be ahead in the digital world. Get in touch immediately!