ERP in the Cloud: What You Need to Know
Maintaining control and insight over finances means you have to be close to the numbers, but that doesn’t mean they have to stay on-premises. Accounting and enterprise resource planning (ERP) in the cloud is not only possible, it offers several key advantages.
Whether you are an advocate or a skeptic, it’s hard to argue with the facts of cloud computing. Price Waterhouse Coopers (PWC) estimated that cloud-based ERP investments would double by the end of 2016, and they were right. As more people turn to mobile phones and other devices, and businesses increasingly rely on the Internet and social media, it’s clear we are firmly entrenched in a digitally-based marketplace. As such, the cloud has become the go-to platform for many businesses, and not just for managing customer relationships, payroll, or ecommerce operations.
If you are wondering whether your financial functions can be safely and efficiently managed in a cloud-based system, might be surprised when you find out how far cloud technology has come—and that it has surpassed on-premises offerings. Advocates will have the data they need to build a strong case for moving to the cloud, and skeptics will find themselves a bit less skeptical, if not impressed by the potential the cloud offers.
5 Questions that Will Convince You that the Cloud is the Answer
At the end of the day, ERP offers a strategic advantage whether it’s deployed on-premises or in the cloud. Answer these questions, and we think you’ll agree that the cloud is the right choice:
1. Is time a factor? Aging legacy systems often cost more to maintain than cloud-based solutions and could put your data and business at risk. You need quick access to reliable financial data to ensure your business is heading in the right direction. More often than not, the cloud offers faster implementation than on-premises, depending on certain factors, such as special integrations or customizations.
2. What level of security do you need? In most cases, a hosting provider will offer stronger security than you already have in place. Smaller businesses don’t always have the ability to invest in skilled IT professionals. Your hosting provider bridges these gaps and can provide the level of security and expertise you need, freeing up your IT budget and resources.
3. Where are your end-users? Field service teams, traveling sales representatives and other remote workers are usually out of the office more than in it. These employees can enter, retrieve and share data from nearly anywhere, at any time and on nearly any mobile device with little more than a browser. With real-time data, you and your employees can take action on the spot and satisfy customer needs.
4. What volume and type of data are you managing? On-premise servers and systems can come with serious data limitations. The cloud provides a little more breathing space to scale your data needs up and down. Cloud applications can often process data faster in the cloud, especially if your internal systems are aging or inadequate.
5. What are your backup and disaster recovery strategies? Even if your IT department already has manual or automatic backup procedures in place, be sure to ask what your hosting provider can offer. Because the cloud offers greater flexibility and storage space, you’ll often find a more redundant, secure and cost-effective solution by taking your backup and disaster recovery strategy into the cloud.
Choose the Right Cloud ERP Provider to Chart Your Path to Success
Choosing the right cloud ERP provider is just as important as choosing the ERP solution itself. Chances are, you aren’t making this decision alone and your colleagues could be split between advocates and skeptics. This is where an experienced ERP cloud implementation partner can offer the guidance and support you need to be confident in your decision.
To learn more about the advantages of moving to ERP in the cloud, download our eBook, The Case for Financial Management & ERP in the Cloud: A Guide for Skeptics and Advocates.