In today’s evolving digital world, the cloud has become an intrinsic part of day-to-day business activities. In fact, you may be hard-pressed to find a business that does not use at least one cloud-based solution. One of the main reasons for this is because of the vast assortment of cloud systems readily available, including the cloud-based ERP system. This system is becoming increasingly more popular within the business market. If you’re interested in integrating this system into your business, read on to learn more about the different benefits it can offer.
What is Cloud-based ERP?
Enterprise Resource Planning (or ERP for short) is a type of management software. This is typically offered as a bundle of different applications, which aims to help businesses automate their data collection, storage, management and interpretation. By switching to this automated system, many business owners can get a fantastic real-time view of all the different processes, resources and commitments going on in their business.
ERP also helps to facilitate the flow of critical information between different departments. This is mainly achieved by integrating systems to create one effective platform, which also helps to reduce the chances of data going missing between different departments.
Cloud-based ERP solutions are basically a number of ERP apps that are available to users via an internet connection. Generally, this type of software does not need to be installed on computers and is offered as a flat-rate fee.
Businesses that have invested in cloud-based ERP solutions have experienced several benefits. We’ll take a look at some of the most common benefits below.
Increased ERP Performance
When it comes to implementing an in-house ERP solution, this often requires a sizeable chunk of computer power, which some smaller businesses will not possess. Cloud-based solutions only require a steady connection to the internet, which nearly all modern businesses already have. As the resources to host the ERP solution are taken care of by the provider, the system should perform better, regardless of the system you are using.
Enhanced Access to Information
Companies without an ERP will likely struggle when it comes to sorting through their streams of data and information to find what they need when they need it. ERPs easily sort through your data and collate relevant information in an effective and cohesive manner. As cloud-based ERP solutions are accessible anywhere, at any time, (provided you have an internet connection) this will quickly improve business operations and enable you to access critical information outside of the office.
When it comes to internal matters, your data security is ensured because of how you have to access an ERP system. In most cases, you will be required to access your ERP system through an account. Each user will typically have their own account and a central admin panel controls who has access to what information. Generally, cloud-based ERP solutions offer enhanced security, alongside 24/7 support. This means if an issue does occur, it can usually be solved quickly.
If you’re interested in finding out which ERP systems are the current favourites, click here.