Why Cloud ERP Solutions are Better? First, learn about What is ERP? ERP is a software that often comes as a package integrating different applications that can help businesses with various processes such as collection, storage, management and analysis of data gathered from different verticals. ERP allows business owners and managers the ability to run these functions digitally.
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However, the rising competition and advancement of technology imply that conventional ERP is not just enough, which is why Cloud ERP solutions are emerging as the new benchmark of management software and leading the way. When you use a cloud ERP solution, you get end-to-end visibility of all business operations from any location, at any time. It integrates all your business operations across different locations into one single cloud platform.
Such a single-window view helps in optimizing the value chain, improving efficiency, reducing costs and time taken to go to market. Since it would be a cloud platform, it can be accessed from anywhere, at any time and on any device such as a desktop, laptop, tablet or mobile phone.
Benefits of Cloud ERP Solutions for the Future of Business Operations
The best cloud ERP solutions providers bring to you advanced AI-powered cognitive ERP tools where computers can understand the data and do the thinking automatically. Here are some of the benefits that make a cloud-based ERP platform better for future business operations:
Conventional ERP has a lot of limitations that ERP on the cloud eliminates. Usually, cloud-based ERP solutions are hosted by the service provider and hardware and software needs, hiring of engineers to maintain or troubleshoot the system are taken care of by them only. You don’t need any specialized infrastructure for the maintenance of technology to ensure it functions properly. Therefore, you can always stay assured that the ERP will perform seamlessly and efficiently.
When on-premises ERP is deployed, it requires a heavy capital expenditure on computers, peripherals, software, and human resources. However, cloud-ERP means you just have to pay for use, and no upfront Capex is needed. Not only that, the time taken to implement is much less, and you can scale it easily as your business grows.
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This is even more advantageous for startups or small and medium scale companies as they usually don’t have the budget to spend on comprehensive on-premises IT deployment. With cloud ERP, it is easy for even them to use enterprise-level tech.
On-premises ERP software would have its limitations, and such legacy technology can cause operational challenges when one tries to use it with other software. However, good cloud ERP solutions offer seamless integration with various other leading software and would make it easy to run operations smoothly and efficiently.
For instance, it would act as an end-to-end platform that brings together Finance and accounting, Enterprise Asset Management, Supply Chain Management, Project Management, Quality Management, Production and Manufacturing as well as HR & Payroll systems.
To use on-premises ERP, the managers would need to be physically present at the office. This gives them a limited window of operations, especially in the post-pandemic normal. On the other hand, a good cloud ERP solution would come with an integrated smartphone app and online access.
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Thus, it would be accessible and usable from any location, and round-the-clock to all stakeholders. Such superior mobility and visibility over the enterprise resources can lead to superior resource optimization, greater responsiveness and customer satisfaction.
The cloud-based ERP solutions providers are well-versed with the needs of their customers. Leading international brands would offer 24/7 online support with agents that are proficient at remotely resolving the challenges much faster than on-premises employees.
Also, when you use cloud ERP solutions, updating the hardware and software remains the responsibility of the service providers. You can just plug and use the platform as per your business needs.