Cloud ERP is fundamentally a Software as a Service (SaaS) that enables you to access ERP services over the internet¹. Most companies may be familiar with the term Enterprise Resource Planning otherwise known as ERP. Companies rely on software such as ERP to systematize and organize data from different and separate departments. Traditional ERP solutions are installed within companies' server infrastructure and require numerous updates and servicing to stay current. Unlike traditional ERP software, Cloud-based ERP systems rely on the cloud, rather than local server infrastructure, to assist companies in sharing data and information across different branches of your business.
Cloud ERP software also helps to integrate and unify your companies' whole working department e.g. accounting, order management, eCommerce, human resource, Customer Relationship Management (CRM), and many more into one whole working system. With Cloud ERP software, it creates a shared database that shares various functions that is usable by different departments to access the same information for their particular needs. Cloud ERP solutions are also made accessible and more mobile than the traditional on-premises ERP systems. With Cloud ERP, companies can upload and retrieve data from anywhere with real-time via the cloud, from any devices as long it has an internet connection. This also allows various departments to collaborate more allowing for greater workflow and efficiency. Not only does the Cloud ERP differ from the on-premises ERP by the place where data is physically located, but it also differs in many more ways than you think.
With Cloud ERP you cut costs tremendously
No upfront costs for computing infrastructure such as hardware and data servers. Reduces IT support services because IT support is provided by the data centre. Excludes paying upfront for application software licenses in favour of a monthly fee. Shrinks the cost of maintaining and supporting those applications since the cloud vendors handle upgrades and updates.
Benefits of Cloud ERP beside cost
Paying only for computing resources needed only. A fixed monthly rate so companies can invest their money into their business initiatives. Cloud ERP applications are faster to use since installations of hardware and software on servers or user devices is not required. Having the confidence that the data has been backed up and there is a disaster recovery plan. Avoiding attacks on the company's server because the data is not stored locally, but in the cloud. Accessing the system from anywhere makes it easy for a company to expand geographically, since the internet is everywhere and there is no need to implement hardware and software at remote locations.
Do I need to update my Cloud ERP regularly?
Unlike traditional ERP software, Cloud ERP users will receive updates to the software as soon as they are made available.
Will it be as secure as on-premises ERP solutions?
It’s just as safe. On-premises ERP solutions consolidate information into a centralized and encrypted server network. Cloud ERP solutions use this same setup, only the servers are located in secure facilities hosted by a provider who takes on the effort to secure the networks.
Deciding which is best for you
Businesses rely on their ERP solutions to manage accounting, financial planning and analysis, revenue recognition, governance, risk management, compliance, procurement, projects, the financial close, reporting, and much more. Moving ERP to the cloud opens the door to increased speed, scalability, new technologies, and modern applications that can deliver meaningful insights to help you make better decisions faster and shape the future of your business.
Schedule a free demo with us to find out how our software can transform your business or contact us at enquiry@fintechrakyat.com today!