An ERP system is one of the crucial tools for a business. Today, cloud tools and technology have enabled companies to take better control of their ERP data, which makes moving to the cloud highly essential to companies.
Cloud Enterprise Resource Planning (ERP) is expected to be worth US $28.8 billion by 2022, according to Statista. There has been a steep rise in adoption of cloud ERP in the last two years, which means many companies are choosing cloud ERP over on-premise systems.
Cloud ERP is easier to maintain and less expensive than on-premise systems. These are some of the main reasons for the rise in cloud ERP adoption. Faster accessibility and better use of ERP data are also major reasons why businesses prefer cloud ERP. For a deeper understanding of why cloud ERP is a better choice, let us look at four important benefits of cloud ERP.
1. Increase in Productivity
One of the top benefits of cloud ERP is the increase in productivity. There is very little or no downtime that would interrupt daily production runs. This means, there is no need to stop or pause production for any cloud maintenance activities or upgrades. All ERP data is stored and accessed in the cloud, making it easy for top management to always have the current values for inventory, costs, returns, etc. Instant real-time data is a powerful foundation for making better business decisions.
With a centralized dashboard to view and update data, departments are no longer dependent on each other to process their own reports. Sales teams can access vital real-time information while on the go, simply through a device with an Internet connection. Additionally, cloud ERP allows for a greater degree of automation which is highly beneficial for businesses to improve their productivity levels.
2. Hassle-free Implementation
Cloud ERP is very easy to deploy and has higher cost benefits compared to on-premise systems. There is complete elimination of the need to purchase expensive hardware to host the ERP data, unlike on-premise systems. Maintenance is taken care of by the vendor, leaving businesses with no overhead costs when working with cloud ERP. This way, there is no need for any separate budget allocation for cloud ERP implementation, and these saved funds can be redirected for other investment purposes.
3. Highly Secure
With cloud ERP, there’s also no need for businesses to stress about lost or stolen data even if the cloud is accessed by teams outside the office. Every user has a password-protected account to access data on the cloud, with more internal security features to update or delete data. Vendors are accountable for the storage and security features they offer, which means there is 24/7 protection for your ERP data and there will be no compromise when it comes to keeping your data safe. This allows businesses to dedicate their attention and energy on core business competencies.
4. Highly Scalable
The best thing about cloud ERP is its scalability, and this comes in handy when the business is expanding or where there is overload in computing at certain times of the year. In fact, it is possible to scale both up and down, without having to reset the implementation settings.
Clearly, cloud ERP technology allows for better control and system integration that gives businesses an efficient way to convert data into actionable intelligence. Moreover, everything during the transition to cloud ERP is managed by the platform provider, thereby eliminating many hidden overhead costs for the business. This means, selecting the best solution provider is key to realizing all the above benefits.
If you are looking to invest in a robust cloud ERP platform, Infoways is the right choice. Infoways has deep expertise in implementing world-class ERP business solutions for manufacturers around the globe. Infor LN (previously Baan), our best-in-class ERP solution, can be tailored to suit your specific manufacturing processes. If you would like to know more about Infor LN, please contact us and our experts will get back to you.