There comes a time when your legacy ERP system simply isn’t getting the job done anymore. Instead of wasting time using antiquated technology, it’s a better idea to embrace the cloud. Cloud-based ERP software can provide manufacturers with the opportunity to grow their businesses, while improving communication throughout the organisation as a whole. While Gartner expects innovative ERP solutions to take flight by 2016, that prediction may be slightly off.
Organisations are ready for the cloud now
If you are taking losses because you aren’t ready to migrate a cloud ERP, you will soon find that you are losing customers to your competition. With an increased focus on supply chain optimisation, companies are no longer going to sit around and let their old technology impact the success of their business. According to a recent Forbes article, cloud ERP allows manufacturers to improve their time-to-market, while also reducing costs. Streamlined budgets and faster product development are advantages that companies cannot ignore, especially in today’s business world that expects firms to move more quickly than ever.
Don’t waste any more time
The operational efficiencies created by cloud ERP are certainly worthwhile, but what may be even more beneficial is the ability to increase visibility into financial data. Getting a better understanding of where money is spent will make it easier to trim costs and reduce overall spending. Below are some reasons provided by SMB Suite on why it’s a good idea to transition ERP systems that are managed in the cloud:
- Quickly find documents: The days when companies managed their finances in a book and kept paperwork in a filing cabinet are coming to an end. Cloud-based ERP systems allow businesses to have access to any of their important documents from anywhere with an Internet connection. No longer do executives have to wait to get back in the office. They can simply sign in to the cloud with a mobile device or PC to find their files in a matter of seconds.
- Data is stored safely: There are many hosted storage solutions, but none are more secure than cloud-based ERP systems. To reduce the risk of a data breach, businesses would be smart to leverage the cloud and encryption solutions that make it nearly impossible for critical information to be accessed by cybercrminals. The costs of a data breach are simply too large to trust hosted storage service with information that that needs to be protected.
- Benefit from cost-efficiency: Many of today’s ERP vendors are offering pay-as-you-go models that give companies the opportunity to only spend money on the aspects of the software they are using. This makes it affordable for businesses to invest in the solution, and have better access to their financial data. With improved visibility from customised reporting tools, it’s easier to plan for the future, while also setting up the firm for short-term success.