An Enterprise Resource Planning solution can help with avoiding business process breakdowns, but there are some that still struggle to find which deployment method works best for their organizations: whether it be on-premise ERP solutions or in the cloud.
While there are advantages of both, cloud ERP solutions are seeing a huge boost in today’s business environment due to easy access to business-critical applications at any time from any location. Cloud ERP also provides access to full-function applications at a reasonable price without a substantial upfront expenditure for hardware and software. Below are four ways cloud ERP solutions can help prevent major business and process management disasters.
Failure to adapt and lack of flexibility can force businesses to downsize, and in worst cases, can even force them out of the marketplace. The ability to fluidly scale is very important for organizations that want to keep up with changes and new trends in their respective industries. Cloud ERP software allows companies to pay for services as they’re needed, otherwise known as a subscription model. Flexibility in an ERP solution allows for a more competitive advantage (for the company) and a profitable business model that has the potential to save companies from an ERP failure if they need to quickly change direction.
Regardless of what industry the company is in, your ERP data should be a number one priority. Cloud ERP software can aid organizations in keeping their data private and more secure more. This idea that a cloud-based platform is more secure than a local server or on-premise solution may go against intuition but it’s true. A good cloud ERP vendor knows that the security of their customer’s data is important to their survival, so they understand why you’re so skeptical of the cloud. This is why they’ve taken measures to provide exceptional service when compared with local networks.
Cloud-based ERP vendors hire the best talent in data security to maintain security measures. If you’re still wary about cloud security, it may help to know that it allows for laptops and other devices to be disabled from the network if they’ve been stolen or compromised in any way. Cloud connectivity refers to all information being stored remotely from devices, so by cutting their access, they become nothing more than blank computers or laptops.
Cloud ERP software allows businesses to integrate all departments of a business and all data onto one collaborative platform, accessible by all employees with an Internet connection. In this way, cloud-based ERP allows for some incredible features, one being unprecedented data collection and analysis. Gathering real-time, accurate statistics for Key Performance Indicators (KPI) has never been easier.
This continuous stream of real-time data and information can help identify future trends and insights as well, which can help businesses pivot in time to adjust to shifting industry tides.
Another way cloud ERP software can protect a business is through its ability to automate business tasks, like in areas such as payroll and accounting for instance. Obviously businesses can benefit financially from automating these tasks because in doing so, organizations don’t have to hire as many employees. However, the real benefit of automation is its ability to limit mistakes and reduce data redundancy.
What’s more, cloud ERP services offer some innovative services that can save organizations from disaster, for instance, automatic updates so keep up with compliance regulations. Non-compliance is an error that can sometimes be fatal for some businesses.