The under used benefits of cloud ERP software
Many business owners understand the enterprise resource planning (ERP) software as a necessary, albeit boring, part of their daily operations. But in reality, ERP can be very exciting when you realize how it can improve every level of your enterprise.
Below are a few under used and under appreciated benefits of cloud ERP software; and what you can do to turn things around for the better.
Magnify Customer Satisfaction
Believe it or not, cloud ERP is proving to be instrumental in improving the customer experience. For example, CIOs can support a wholesale customer looking to place a large order by simultaneously checking with their stock reserves for a more accurate understanding of how long the order completion should take. Do you have enough product in stock or does this need to be pushed to manufacturing?
According to Business Computing World, companies that utilize ERP and analytics had 72 percent greater year-over-year customer rendition growth rates, compared to non-user competitors. The conclusion here is that ERP for business helps companies make customer-focused decisions based on data rather than assumptions, which does more to improve relationships than you might imagine.
Enhanced Mobile Connectivity
Our world today is saturated with mobile devices. No wonder businesses are beginning to adopt ‘bring your own device’ (BYOD) policies to allow employees to work where they want, from the tools they want. But this begs the question: Why do so many companies invest in on-premises ERP technologies when cloud ERP solutions can be pulled to nearly any device?
Cloud ERP software was built with mobile in mind, meaning companies can equip their diverse teams with vital information without spending big bucks on hardware. This also means that workers can update the information in their ERP platform in real time; and who doesn’t want that?
Robust Data Security
Cloud computing, when discussed, conjures ideas of a platform that is both everywhere and nowhere; something that is omnipresent and invisible. One of the major failings of the term ‘cloud computing’ is that it doesn’t suggest privacy or security.
That being said, the cloud is actually very secure — even more secure than on-premise data solutions which require a lot of resources and oversight. Cloud ERP, on the other hand, bundles a number of security resources into a single platform, which is then monitored by the service provider. Data breaches can be incredibly costly, so it’s nice to know that cloud ERP adds an extra layer of security to your most crucial information.
Enchant IT
Before adopting any service or platform, it’s important to talk to IT. IT teams are the backbone of any organization, because when things go haywire, they are the first to respond. Luckily, cloud ERP as a service makes their jobs easier but mitigating the time-consuming and tedious tasks associated with planning software.
Rather than investing IT’s time in updates, patches and troubleshooting an in-house ERP solution, the platform provider absorbs these duties; thereby allowing IT to work on important initiatives that affect your bottom line.
Future Planning
Of course, ERP solutions mean nothing if they aren’t primed for the future. Cloud ERP is infinitely scalable and capable of accommodating sweeping changes. Let’s say a new market opens up and your business wants to capitalize on the opportunity. Some in-house ERP solutions would take several months to get up to speed, whereas a cloud-based ERP platforms could reach full implementation in weeks!
So, not only is the cloud perfect for short-term adjustments, but it’s also capable of housing and analyzing long-term data. If used properly, you should have a trove of useful data for overcoming seasonal slumps or other hiccups that naturally arise from running a business.
So whether you are looking to implement an ERP solution for the first time, or want to optimize your existing ERP platform, it’s essential to look to the cloud. Also, be sure to check out TEC’s 2019 Cloud ERP Buyer’s Guide for more information.