The influence of technology has all but changed the way businesses across industries handle daily processes. Accounting, marketing and everything in-between now takes place largely via software applications that live in the cloud, many of which are costly to implement and difficult to maintain. For business owners and managers, the process of researching hundreds (if not thousands) of different applications and services in attempts to make a decision can be positively head-spinning. One thing that every business needs today, however, is cloud erp software.
So, why is ERP software so crucial to the success of small and large businesses in the modern era? Here are just seven benefits of implementing a cloud ERP, all of which are worth taking into consideration.
1. Real-time Data Access
If there’s one thing that today’s business leaders need on their side, it’s the ability to access up-to-date data in real-time. This can be next to impossible when working from applications that live on local computers or databases—especially when you’re out of the office. With cloud ERP software, however, it doesn’t matter where you or your employees log-in—the information is updated across the board in real-time and can be accessed from anywhere with a device and an Internet connection.
2. Reduced Price of Admission
ERP software can be very effective when properly utilized, but it can also be expensive under certain circumstances. This is especially true with localized ERP, in which case it’s necessary to purchase numerous types of high-tech equipment, as well as expensive software applications. Cloud ERP is offered as Software as a Service (SaaS), which means that the cost of entry is much lower than handling ERP implementation on your own.
3. IT Expertise
Another pitfall commonly associated with setting up a localized ERP is the need for a robust expertise in the realm of IT. In essence, your ERP should be expected to encounter issues from time to time, and if you don’t have someone on staff who is well-versed in the finer points of IT, you could lose countless hours to potential downtime. With a cloud ERP, a team of IT professionals handles these problems for you so that you and your staff can continue focusing on what you’re best at.
An ERP can easily contain a great deal of sensitive information, which should be protected at all costs—especially that which pertains to clients and customers. As security protocols are constantly shifting in different directions, it takes someone who is highly knowledgeable about how to run a secure digital environment to manage an ERP—something that most in-house teams don’t have on their side. Cloud ERP, on the other hand, is as secure as these types of services can get.
5. Enhanced Collaboration
Collaboration between two or more employees can be a beautiful thing, but in a world of siloed office environments, it can also be difficult to foster. Since ERP software helps to “desilo” organizations and create a more comprehensive digital environment that connects departments together, it’s the perfect tool for boosting collaboration. You never know what types of incredible ideas may result from implementing an ERP.
6. Saved Time
If you’re relying on spreadsheets or other manually-updated types of software applications, you’re likely wasting a good deal of time in the process, and so are your employees. An ERP helps to automate a number of daily processes while also allowing you the opportunity to make valuable manual updates, thus creating an environment of complete control that also “runs itself” in many ways. The end result? A mountain of saved time.
7. Reduced Human Error
Taking the potential for human error out of the equation will never be truly possible, but there are ways to reduce it. ERP software plays a key role in keeping human error from influencing inventory, sales and other factors that need to be paid attention to closely, and a cloud ERP means people can work from wherever they choose.
So don’t just assume you need an entire suite of different types of software. Go with a reputable cloud ERP, and you’ll be amazed at the difference it can make on its own.