ERP in the Cloud: 5 Reasons It’s Time for a Change
Controlling and having insight into your finances means you have to stay on top of the numbers; however, that does not mean you have to remain on-premises. Enterprise resource planning (ERP) in a cloud-based environment is not only possible, it also offers many key advantages.
Whether advocate or skeptic, you will find it hard to argue the facts of cloud computing. An estimate by Price Waterhouse Coopers (PWC) projected that cloud-based ERP investments would increase two-fold by the end of 2016. They were right. As it’s increasingly more common to turn to mobile phones and other devices, and as businesses are more likely rely upon the Internet and social media, it’s obvious that we are firmly entrenched in a digital marketplace. It stands to reason that the cloud has become the go-to platform for most organizations, and not just when it comes to managing ecommerce operations, customer relationships, or payroll.
If you find yourself wondering whether your financial operations can be effectively and securely managed in a cloud-based system, you’re not alone. But the advances in cloud computing will be a pleasant surprise. Advocates of cloud based systems will have more than enough data to build a strong case for a move to the cloud and skeptics will find they are far less skeptical, if not complete converts.
Is the Cloud Right for You? 5 Questions to Help You Decide
In the end, ERP offers a strategic advantage whether it’s deployed on-premises or in the cloud. However, after answering these questions, we think you’ll agree that the cloud is the right choice:
1. Is time a factor? Older legacy systems frequently cost more to maintain compared to cloud-based solutions and are likely putting your data and business at risk. Quick access to reliable financial data is essential to guarantee your business is moving in the direction it needs to be. Frequently, the cloud allows for an accelerated implementation over the on-premises option. This can vary, depending upon factors like special integrations or customizations.
2. What level of security do you need? Often, a hosting provider can provide stronger security than your current system. Recognizing that smaller businesses may not have the ability to invest in qualified IT professionals, your hosting provider allows the ability to provide the level of security and expertise necessary, thereby freeing up your IT budget and other resources.
3. Where are your end-users? Your out-of-office people, field service teams, traveling sales members and other remote employees, are completing most of their work off of the premises. Now they can enter, retrieve and share data from just about anywhere, at the time that works for them, and using practically any mobile device with little more than a browser. With up-to-the-minute data, your team can take action immediately and satisfy customer needs.
4. What volume and type of data are you managing? Servers and systems that are housed on the premises often come with significant data limitations. The cloud allows for a little more breathing room to scale your data needs. Cloud applications can typically process data more quickly in the cloud, especially when your current internal systems are aging or inadequate.
5. What are your backup and disaster recovery strategies? While your IT department likely has manual or automatic backup procedures set up, be sure to inquire about options your hosting provider can furnish. As the cloud offers significantly greater flexibility and storage space, you will find an enhanced redundant, secure and cost-effective option by moving your backup and disaster recovery plan to the cloud.
Choose the Right Cloud ERP Provider
The choice regarding the right cloud ERP provider is as significant as the choice regarding the ERP solution itself. More than likely, you aren’t deciding alone and your colleagues could be divided between your advocates and your skeptics. A qualified ERP cloud implementation partner can guide and support your organization, providing the information you require to be confident in your choice.
Want to learn more about the benefits of ERP in the cloud? Download our eBook, The Case for Financial Management & ERP in the Cloud: A Guide for Skeptics and Advocates.