Many organizations are modernizing their legacy enterprise resource planning (ERP) solutions by migrating them to the cloud. Your organization should consider doing the same. If your hardware lease is approaching its renewal date, then perhaps it’s time to consider the ways in which the cloud can improve your ERP capabilities.
Here are seven reasons why you should migrate ERP to the cloud:
1. It’s cost effective.
As with any cloud deployment, migrating your company’s ERP platform to the cloud will incur minimal implementation costs. Compare this with a traditional ERP system, which needs its own expensive hardware and software to run in-house. Without this upfront investment, your organization will spend much less to launch your new ERP system.
Cloud-based ERP is remains cost effective as you use it. Your vendor will offer their services via subscription, which you can scale up and down to meet your evolving needs. As such, you won’t run the risk of paying for more services than you need at any given time.
2. It empowers decision making.
When you move your ERP capabilities to the cloud, you will unlock a myriad of powerful analytics tools. Not only do they make it easier for your team to assess historical data, you can analyze current performance metrics.
With the added benefit of cloud-based machine learning, your ERP solution will help you monitor your performance in real time. Having such seamless access to this information will empower your team to make critical business decisions and shape your company’s future success.
3. It makes upgrading easy.
As part of your cloud agreement, your provider will automatically deliver any upgrades released for your ERP solution. Typically, they will implement small updates twice a month without disrupting your services.
Should they need to launch a larger update, they will alert you ahead of time and may even provide relevant training to your team. All of this typically comes with your subscription, so you won’t need to spend any extra money to keep on top of the latest ERP updates.
Upgrading your ERP system in house is a much more onerous process that requires a hands-on approach from your internal IT team. It can be expensive to continually purchase the latest updates on your own. It is also time consuming for IT staff members to install those updates, particularly if they already have a full workload.
4. It bolsters security.
Cloud ERP vendors leverage the latest security measures to protect their clients’ data. In many ways, it is safer to house your ERP data in the cloud than it is to host it on-site.
The cloud enables you to restrict access to your most sensitive information. It also allows you to prevent users from downloading certain files from your system. Additional user authentication tools give you complete power over who can connect to your cloud system.
Cloud-based security measures also facilitate compliance with government regulations. Better still, your cloud provider will constantly improve security protocols to keep up with changing requirements.
5. It provides remote access.
As the workforce becomes more mobile, the need to accommodate these users is growing. Traditional on-premises ERP solutions are unable to meet the needs of remote employees because they require a physical presence in office. With cloud integration, you can keep your employees connected to your ERP system at all times, no matter where they are.
Your cloud-based ERP solution will keep your mobile workforce up-to-date with the latest app updates without VPNs slowing their access. They can connect easily to your system on any device, so they will always be able to work. Housing ERP in the cloud also keeps team members more connected to one another, regardless of the physical distance between them.
6. It supports disaster recovery.
Relying on an in-house ERP system increases your risk of data loss, since your system could succumb to disaster at any time. By migrating ERP to the cloud, you will have numerous safeguards in place to prevent your organization from ever losing its data.
In the cloud, you can create backups of information and store them in offsite servers. In some cases, your cloud system will perform backups automatically.
Most cloud providers store your information in more than one location, so there is even less risk of losing data. Should anything happen to your on-site system, you can easily access your backups and restore your data at a moment’s notice.
7. It provides a comprehensive platform for business management.
Cloud-based ERP apps are unique in that they are capable of integrating with a myriad of other platforms. Whether you rely on mobile solutions, on-premises apps, or third-party services, your ERP solution will be able to connect to any service you use.
As such, you will have access to a single dashboard for all your ERP needs. This will give you better oversight over all your most important business operations. Moreover, it streamlines analytics in a way that is otherwise impossible in an in-house ERP solution and improves your business management capabilities in the process.