Cloud Enterprise Resource Planning (ERP) systems have become more popular than on-premise systems. It allows companies to achieve overall operational enhancements in a budget-friendly manner with access to important business data anywhere, anytime. The vast adoption of Cloud ERP is unlikely to slow down in the times to come. As per a Future Market Insight survey, the Cloud Enterprise Resource Planning landscape alone is expected to grow up to $277mn by 2032. 

There are several reasons why companies worldwide are shifting from on-premises ERP solutions to cloud systems. Let’s take a look at the seven major ones.

Seven Reasons Why You Should Opt For Cloud ERP Solutions

• Helps Business Create A Better Customer Experience:

Improving customer experience in the present customer-centric era can be an incredible strategy to ensure business success. Cloud ERP systems help with this by enhancing the operations of customer service. By accessing real-time data, companies can offer responsive as well as personalized customer service, leading to better customer satisfaction.

Besides, these systems use data insights for personalizing customer interactions. From customizing product suggestions to altering marketing campaigns, businesses can develop personalized experiences that can match the needs of their target audience. That helps foster stronger and long-term customer relationships.

• Cost-Effective:

By doing away with the requirement for an on-premise ERP infrastructure, companies can streamline their IT environment with the help of Cloud ERP and have significant cost reductions. Cloud ERP solutions eliminate the company’s need for expensive software and hardware infrastructure. Using Cloud ERP, you can avoid costly upfront expenditures and maintenance costs for your business. Some reputed firms provide cloud cost optimization services to reduce expenses by using personalized cost optimization tactics.

The deployment is relatively adaptable, responsive, and takes less time. Appropriate parameters, intuitive dashboards, and easily accessible data need minimal or nil employee training.

• Enhances Team Productivity:

Using the same shared platform, with Cloud ERP, you will witness a seamless collaboration between customers, suppliers, stakeholders, and team members. The employees have access to crucial business data 24/7. This allows them to take quick action in case of customer complaints. It enhances their productivity and helps them make informed and strategic decisions.

• Data Privacy And Security:

Data privacy and security are a paramount concern for any company. Cloud vendors offer secure hosting because of the ginormous amount of data stored in their repositories. They employ the highest security levels, access controls, and advanced encryption against an on-premise system.

Some of the highlights include:

• Frequent, constant, and autonomous security updates sans requiring any additional tasks or changes in user experience.
• System backed by cloud and cyber security specialists serving data and network security.
• Multiple backups at geographically different servers.
• Compliance with different regulatory standards, ensuring that the company remains legally binding and abstains from costly penalties.

• Timely Updates:

It is not possible to have efficient hardware and frequent software updates with an on-premise system. Cloud ERP solutions are backed by regular upgrades, ensuring enhanced software functionality. Such software updates don’t pose any harm to the company’s ongoing business operations.

Continuous automated updates eliminate the requirement for external guidance, allowing your business to access the latest technologies sans the trouble of manual upgrades.

• Better Business Control And Scalability:

With Cloud ERP, companies have better control over their business operations, both outside as well as inside the company premises. Cloud ERP allows companies to easily monitor and manage manufacturing, quality, financial, and distribution operations through a single pane of glass. Therefore, from early production to distribution, companies can monitor everything easily.

On the other hand, it is significant for a business to scale operations effortlessly to flourish. Cloud ERP provides scalability that on-premises systems fail to match up to. Whether your business experiences quick expansion or requires a temporary downsizing, a Cloud-based ERP system adapts seamlessly to accommodate the changing business needs.

• Efficient Communication And Expansion Opportunities:

Cloud ERP facilitates efficient and effortless communication across different departments. It comes equipped with efficient communication tools that help with easy information flow in the organization. Besides, it offers a 360° view of the company to help you keep track of your business operations.

With a single shared system integrating different business functions, Cloud ERP solutions enable employees to collaborate and share information more effectively. That, in turn, promotes a culture of accountability, transparency, and cooperation in the organization.

The decision-makers have access to real-time data related to business infrastructure, which helps them make strategic choices at various levels. Those include:

• Enhanced opportunities to simplify processes and recognize any resource requirement, or management.
• Access to upgraded and real-time data ascertains easy verification of customers and users in the entire ERP system.
• Enhanced 3rd party integration via seamless data receiving and sharing.

Parting Thoughts

In the present rapidly changing technological landscape, small- and large-scale companies alike are experiencing growth and change constantly. Hence, Cloud ERP solutions have emerged as a preferred option to support their business in such situations. The benefits it provides, including data security, cost savings, and easy deployment, undoubtedly add to their success and development. Get the benefit of Cloud Services and Solutions to enhance analytical information security and automate processes more effectively.

Therefore, if you have not considered Cloud ERP solutions for your business, it’s time you do so. Embracing this evolutionary technology isn’t just a worthwhile investment but a commitment to having an edge over others in an ever-changing business landscape.

Author Bio: Harikrishna Kundariya, a marketer, developer,IoT, Cloud & AWS savvy, co-founder, Director of eSparkBiz Technologies. His 12+ years of experience enables him to provide digital solutions to new start-ups based on IoT and SaaS applications.