All businesses want to achieve business growth and having a suitable Enterprise Resource Planning (ERP) software in today's digital world will help achieve it. Stepping up to the following levels with growth requires a few critical changes like streamlining your business operations in order to increase efficiency and productivity. It would also be best if you also got an organization-wide view so that you can manage and make quick decisions. ERP brings about significant benefits in today's business landscape. Among the plethora of ERP solutions, should you opt for a cloud-based ERP?
Let's discover more about cloud-based ERPs. Below is a list of significant advantages of cloud-based ERPs:
Cloud ERPs use modern technologies
Traditional ERPs may have sounded scary with implementation timelines, change requests, and customization struggles. However, cloud-based ERPs deliver multiple benefits minus the drawbacks of traditional ERPs.
You get an organization-wide view, real-time dashboard reporting, timely alerts, and notifications. Automation of tasks and a centralized view of operations enable better and faster decision making.
Vault cloud-based ERP supports your business with comprehensive functional coverage through modules like project management, operations, sales, HR, and finance.
Faster deployment and user-friendly
Traditional ERPs were slower to deploy with technology specialists and months with delays and ballooning budgets. Cloud-based ERPs are built for faster processing and provide a flexible and streamlined user experience.
Deploying ERP on the Cloud is quick and could take a few days based on the customization required. Cloud-based ERPs are more like powerful apps that will transform your business.
Highly customizable without hidden costs
Traditional ERPs were expensive to customize. Cloud-based ERPs are modular in structure. Adding a feature would require adding an extension or much simpler customization of workflows to meet your requirements. Cloud ERP customization is much cheaper than traditional ERPs, as you no longer have to spend a sizeable amount for oversized modular features that cannot be separated and sold.
Many cloud-based ERPs can be customized without any coding. Instead, they are customized using drag and drop interfaces which use low-code or no-code technologies. Pricing has become transparent without any hidden fees for the implementation or licensing of exclusive features.
Vault is fully customizable. The modular structure enables the selection of independent modules, meaning you only pay for the modules you use.
Easy integration with existing tech stack
All businesses aim to minimize costs and implementing an IT application is no different. Transitioning all business functions to a single ERP may incur prohibitive costs in a single go. Organizations then look to use existing software applications and integrate them with cloud-based ERPs.
It doesn’t matter if your existing tech stack uses CRM software or accounting software. Modern Cloud ERPs like Vault can easily integrate with existing software using APIs. This allows an organization to save time and effort by integrating Cloud ERPs without reusing existing software applications.
Gain the benefits of SaaS
Cloud ERPs offered as a Software as a Service deliver plenty of benefits as the infrastructure and software get maintained in the Cloud. The standard benefits of SaaS include regular updates, security patches and vulnerability fixes, central bug fixes, and a robust online customer support system.
Besides standard updates that the product development side may drive, the customer's stack will have customer-driven features.
Cloud ERPs are great for growing businesses
A rapidly growing business needs agility in its IT applications. That is precisely what cloud-based ERPs offer. Small to medium companies need the flexibility to rapidly scale up or scale down resources, and cloud-based ERPs are the best option.
Economical subscription plans, more accessible and faster deployment, rapid customization, simple centralized upgrades, user-friendliness, and other great features provide competitive gains.
Allaying fears
Traditionally, there has always been a feeling that on-premise software is safe while it's risky to have organization business data hosted elsewhere. However, with the enhancement of security technologies, Cloud ERP security is more secure. Data privacy and regulatory compliance have made customers' data protection a high priority.
Overcoming resistance to change
Cloud technologies are more modern and easier to use than on-premise software. There will be less resistance as employees are likely to embrace it quicker than a traditional ERP. Organizations must communicate the benefits of new cloud-based ERPs and how it makes an employee’s jobs easier.
Vault is a Cloud-based ERP that makes business operations smarter, leaner, and more efficient. Our Vault professional services team at Rare Crew has high experience in implementing cloud-based ERP solutions.
Reach out to us for a consultative call to explore how we can help you.
