Cloud Enterprise Resource Planning (ERP) allows an enterprise to go from being a traditional operation to a digitally transformed business that recognizes – and leverages – the collaborative nature of the cloud for everyday accounting, operations management and reporting functions.
The most common benefits of cloud ERP are including the opportunity for organizations to access their systems from anywhere, on any device, at any time – total collaboration and productivity around the clock. Additionally, with cloud-based ERP there is no hardware or systems software to install, maintain or upgrade.
Most important, cloud ERP positions a business for digital transformation, enabling an enterprise to be competitive in an increasingly digitized business landscape.
Over the past several years, Aberdeen Group has closely followed trends in ERP deployment methods to determine if cloud or Software as a Service (SaaS) ERP will ever overtake the traditional, on-premise model as the preferred method.
While interest in all deployment models remains, CompuData has noted that the vast majority of its new implementations in 2016 were cloud deployments. Our software publishers are also seeing this shift. There are several reasons that organizations are now more likely to consider a cloud solution, but mobility is probably the top reason. Most professional service organizations are now spread out. That trend is following in other industries as well. Cloud solutions support visibility, collaboration, and agility over wide geographic networks, per Aberdeen research.
In fact, Aberdeen’s 2014 Business Management and ERP Benchmark Survey found that Best-in-Class midmarket organizations are over twice as likely to have implemented ERP in the cloud – a trend the research firm saw as progressive.
Thinking about leveraging cloud-based ERP for your business?
For many organizations, the choice is clear – cloud-based ERP solutions allow an organization to tap into rich, powerful functionality to automate critical business processes. With a cloud ERP solution in place, a business can evolve beyond error-prone spreadsheets and achieve the collaborative, cohesive visibility required to to better understand real-time business performance.
To get started, consider these four keys to building a successful cloud ERP migration roadmap for your business as it takes steps toward a cloud-based ERP deployment.
- Choose the Right ERP Partner: By choosing an ERP partner with a wide breadth of knowledge in both your industry and in technology deployments, you’ll get the best of both worlds. Only by choosing an ERP partner that is familiar with your industry needs and regulations, various deployment options, and security, will you get the smoothest transition.
- Identify Expectations: Company goals and objectives should be identified in the early stages of a cloud ERP initiative. Make sure you discuss not only the current needs of your organization, but also the goals in the next few years. Make sure all company leaders and key stakeholders are involved in this task. The cloud is scalable, but the base infrastructure of the software and cloud deployments should be built with future scalability needs in mind.
- Know the Costs: For most leading cloud-based ERP solutions, costs are typically much lower than an on premise solution. An on-premise software purchase is a capital expense and a cloud based solution is an operating expense. The cloud ERP provider hosts and maintains all critical IT infrastructure, allowing a company’s IT resources to focus on other projects. The subscription model, which typically offers a predictable, pay-as-you-go subscription – not bad for cash flow management.
- Plan to Optimize Real-Time Business Intelligence: Cloud ERP will deliver a new level of business intelligence to your business, providing real-time data that can be accessed via the Internet anytime, anywhere. Imagine accessing real-time company data on your smartphone while you are traveling. Cloud ERP provides new levels of business analytics – faster and more secure. Determine early on how your company will use this new business intelligence to its advantage.
Ready to take advantage of cloud-based ERP? CompuData is the right cloud ERP partner for your business, with the proven expertise, advanced technologies and industry leading certified specialists you need to get you on the road to cloud ERP optimization.