If you’re actively searching for modern business process management software—or if a search is in your future—you don’t need to be educated on the benefits of ERP. You have your list of requirements, from basic accounting and finance to those more specific to your industry and your business. As you begin evaluating ERP software, you’ll quickly realize that there is no “one-size-fits-all” solution, and one is not necessarily better than the other. Your choice should depend on your requirements.
However, when it comes to deciding on how your ERP will be deployed, the cloud is arguably the best choice, regardless of your feature and functionality needs. Today’s ERPs go toe-to-toe over capabilities like flexibility, scalability, performance, interoperability, ease of upgrading, and mobility. These are qualities that position them to grow and scale with your business in the hopes that you will keep whatever you choose for the life of your business. This is made possible by the cloud, which is why cloud software should be one of your top considerations. Here are 4 of the top reasons why:
Reason #1: Stronger Security
Security is always a major concern, particularly when it comes to financial software. Contrary to what you might think, cloud accounting software is actually more secure than on-premises software. Cloud ERPs run on hardware maintained by hosting providers, who are typically very well-equipped for the job. Hosting providers like Microsoft, Oracle, and Amazon, who are competing for business and under close scrutiny, offer:
- Physical facilities that are well protected
- State-of-the-art intrusion and virus detection and mitigation to protect data
- Enterprise-grade backup and restore functions to preserve data in case of a disaster or emergency
- Geographically dispersed servers, which provide fail-over in the event of a disaster
These hosting providers have the resources and money to offer capabilities that are not practical or affordable for most businesses to handle themselves.
Reasons #2: Reduced Costs
Hosting your ERP in the cloud helps reduce costs in several ways:
- The hosting provider takes on the cost of purchasing and maintaining servers and other equipment.
- Your IT staff is not burdened by managing the equipment and handling software upgrades, reducing personnel costs.
- Your ERP software is always up to date; upgrading—and the costs involved—is a thing of the past
- From an accounting standpoint, you replace a large capital purchase (software) with a fixed, predictable monthly expense and annual maintenance fee
Reason #3: “Instant” Scalability
When you buy an on-premises ERP system, you must base your purchase on maximum capacity. In other words, the system needs to be able to handle your business at the busiest, most demanding times—which is fine, but essentially this means that you’re paying for capacity you don’t need during the slower times. In essence, the software is sitting idle. Cloud accounting software, on the other hand, can literally scale memory, disc space, throughput, and move up or down depending on what you need at that time.
Reason #4: 24/7/365 Access
Today’s business world never sleeps. Your employees and customers need 24/7/365 access to your ERP at some level (customers need access by way of an eCommerce site, for example). Cloud accounting makes that possible—and easy because all it takes is an internet connection:
- You get anytime/anywhere access with an internet connection—laptops, mobile, desktop, tablet.
- Because you use a familiar browser, the application is easy to use, and there is no need to download additional software.
- There is no problem with supporting a mobile or work-from-home workforce.
- It allows for easier expansion into new geographies.
- Your employees in the field (sales, field service) can deliver better, faster service with access to your ERP on-site.
There are many advantages to the cloud. If you’re looking to evaluate ERP solutions, download this whitepaper first for more helpful information and guidance from specialists at Clients First with over 30 years in the industry: