3 Benefits of Moving to Cloud ERP Accounting Software
Cloud computing is one of the most talked about business trends of the year, and interest in the Cloud is only expected to continue growing. As legacy ERP systems become more outdated, businesses will begin turning to the Cloud to improve their business processes and streamline communication throughout the organization. While Gartner has predicted that Cloud ERP solutions will take off by 2016, many ERP experts predict businesses will adopt Cloud solutions much sooner. If the data proves to be right, Cloud ERP has already taken off and is only expected to rise in popularity over the next few years.
With an increased focus on improving efficiency and profitability, businesses are not going to sit around and let outdated technology jeopardize the success of their business. In fact, businesses of all types all around the world are investing in new technology solutions with Cloud capabilities to improve their market longevity and sustainability. Manufacturers and distributors are finding value in Cloud solutions, accounting firms are benefitting from the flexibility the Cloud provides, and professional service companies are using the Cloud to access important projects on-the-go. Faster time-to-market, improved efficiency, streamlined budgets, faster product developments, and flexibility are advantages that many companies cannot – and should not – ignore, especially in today’s fast-paced, highly competitive business world.
While the operational efficiencies Cloud ERP provides are certainly worth the money, the real value of Cloud ERP is its ability to increase visibility into your company’s important financial data. Cloud ERP accounting software allows you to access your financial reports from anywhere, making it easier to see how your money is being spent so you can create an actionable plan to reduce costs and overall spending. The benefits, however, don’t stop there. We’ve provided a list of the three top benefits small and mid-sized businesses experience when they move their ERP accounting software to the Cloud (or hybrid solutions). Take a look at the benefits below to see if making the move to Cloud ERP is the right direction for your company:
- Your data is safe and secure. Many companies today already backup their important data and files in the Cloud, so moving their business software to the Cloud isn’t that big of a leap. If you currently use some type of hosted storage system, you understand the basics of Cloud technology; however, what you may not know is that Cloud ERP software is actually safer and more secure than most of the preferred hosted storage systems. In an effort to reduce the risk of data breaches, companies around the world are leveraging Cloud and data encryption solutions to make it even more difficult for criminals to break.
- Employees can quickly locate important documents within the ERP system (thus improving efficiency). If your company is still storing the majority of your files and documents in physical filing cabinets, it’s time to switch to an electronic filing system. Storing your documents electronically will not only reduce your paper costs, but it will also improve your efficiency (as your employees won’t have to spend time search for specific documents). With Cloud ERP software, you can store your files electronically and access them from any location (as long as you have an Internet connection). This means you don’t have to wait until you get back to the office to read a report or look up a customer’s information. You can do it all from the convenience of your mobile device or PC.
- You have more flexible payment options. Cloud ERP software does not require all of the up-front costs of on premise ERP solutions. In fact, many ERP software vendors offer Cloud ERP software as a pay-as-you-go model, allowing companies to only pay for the aspects of the software they use. This makes ERP affordable for many businesses and allows companies to explore the Cloud without making any permanent commitments.
Moving from an on premise ERP solution to the Cloud certainly requires planning and preparation. For more information on Cloud ERP solutions or tips on moving to the Cloud, contact our ERP experts today. All of our business software solutions have Cloud capabilities, and we will work with your company to ensure you choose the right Cloud ERP accounting software for your needs.