Enterprise Resource Planning in the cloud – what is it?

Companies around the world rely on their finance teams to provide insight about where to invest so that they can grow. Unfortunately, those teams already have labor-intensive tasks on their hands such as gathering, reconciling and verifying, and analyzing the company’s finances through spreadsheets. They become lost in all that and can’t correctly lead the business. 

You can ask yourself what it is that you need to help you with that particular issue. Each department in your company should be connected so that there is no misinformation spreading and slowing you down. You need to be on top of things at all times. Fortunately, there’s a way, very simple and very efficient, to make all that easier. ERP in cloud computing is what you are looking for. But let’s start with the basics. 

Enterprise Resource Planning – mostly referred to as ERP – is a type of software system that is designed to help companies manage, store and use data in their day-to-day business activities. It can be used to manage such a variety of tasks as project management, accounting or supply chain, and manufacturing. It gathers every department together so that you, as the head of your company, can have it all easily accessible at any given moment.

This system is specifically designed to each customer so that every ERP is unique and only fits one business. Every company is different and even though there are similar kinds of data and business processes, they won’t ever be identical. That’s why each software is one-of-a-kind. Many ERP systems share data across the departments – manufacturing, accounting, sales and more – to provide connections among them and guidance on how to carry on the business. 

But what is cloud ERP? Well, to put it simply all of the above but without the on-premises deployment. It is an enterprise resource planning in the cloud. That change allowed the ERP to evolve according to your business needs. It smoothly connects all the critical business processes of the company and allows it to adapt to any challenges. It’s more flexible and adjusts to any changes. It’s greatly important, especially nowadays, when every day brings something new and unexpected. The system provides continuous innovation updates.

What is Cloud ERP?

In the 2010s new digital technologies changed how users interact with all applications, ERP included. It effectively pressured Enterprise Resource Planning into adjusting to the new reality and ushered in the new era of Software as a service (Saas) and not on-premises. It is now known as enterprise resource planning in the cloud. 

Instead of managing important technology on-site, you can depend on a new kind of company to help take away the pain. They have all the computing power you need and it’s all secure, backed up at another location and accessible through the web – enterprise resource planning in the cloud. It means you can depend on a cloud company’s computer to help your business run and focus your energy on more important tasks without worrying about everything. It’s very similar to CRM systems that help you manage relationships with your customers.

Caught your interest? Well, that’s not all. Cloud computing means computers don’t have to limit your business, because cloud companies have nearly unlimited storage and resources you can grow without worry. Also, the servers are usually backed up in multiple locations your information is safe. On top of that, you only pay for what you’re using. If the business is slow, the computing costs can go down too. Cloud computing also means you can use new kinds of services that live in the cloud and are accessible through the web.

Some time ago it was common for different departments in the company to have their own systems specially designed to perform each team’s task. It made it hard for them to find common ground. Cloud based ERP systems for manufacturing improve that aspect. They give all departments a single platform to share all the information and also discuss important matters. That way, they improve productivity and solve any issues. 

How does Cloud ERP work?

You probably still remember or at least associate how it looked like years ago. All contact information was written in phone books or record books. The same was done for business reports and all types of information concerning the company such as financials, sales, stocks, manufacturing, or forecasting. These records were all kept on paper and were filed in drawers or on the shelves in binders of all sorts.

Record-keeping was manual and exhausting, not to mention the time it took to share any information across different departments. To say it was unproductive for the entire business is definitely an understatement. This system meant more work for everyone and was quite frankly a waste of time.

Back from that little visit to the past, today almost all record keeping has gone digital. Thanks to CRM and cloud based ERP systems many operations have become automated. Customer information is quickly accessible and delivers services faster. All the office teams and different departments can now communicate in real-time at all times. Whether it is in a private chat or in a group chat, they can exchange information effortlessly and smoothly like never before. Through the connection of these two systems – CRM and ERP in cloud computing – both working with the customers and sharing data across the departments is faster and more effective.

Cloud based ERP systems automate labor-intensive tasks such as managing projects, cash risk and compliance or expense reporting, skillfully reducing the time people need to work on those matters. They also help to identify patterns and anomalies using machine learning. While ERP software on the cloud suggests the next best course of action, you can focus on running your business in other aspects in the bigger need of your attention. Enterprise resource planning in the cloud allows you to check the custom dashboards with all data across the company, giving you an extensive view of your finance and operations in real-time.

The benefits of Cloud ERP

After reading this article you know already that CRM and ERP in cloud computing make it way easier for you and your company. Below you have all the benefits of ERP software on cloud listed:

  • Adaptability – the system is flexible to always adjust to your business needs.
  • Accessible – you have easy access to all the data from anywhere in the world.
  • Protection – your database and business records are secure, and backed up from different locations.
  • Confidence – the change will never outpace you since the enterprise resource planning in the cloud keeps you up to date with innovations.
  • Context – ERP software on cloud helps you to see the big picture and make decisions without clouded judgment 

How to choose a Cloud ERP system?

Now that you know what is cloud ERP it’s time to implement an ERP in cloud computing. It needs to be well thought through. Only then can it bring notable benefits. Below you have a list of steps you should go through in order to choose the right ERP software on cloud for you.

  1. Define your business requirements. To do so, you need to evaluate your process and expectations.
  2. Establish your selection criteria by identifying features that your company needs. There are many to choose from such as user-friendliness, scalability and flexibility, analytics and reporting, support for the latest technologies and many others.
  3. Plan budget and timescale. 
  4. Create a shortlist of the ERPs that fit your expectations.
  5. Assess your ERP vendor options.
  6. Schedule ERP vendor demos and seek out more information about them. 
  7. Use the insights from demos and compare the shortlisted ERPs.
  8. Make your decision and agree on the final terms with the ERP vendor. Remember. Make sure that you have a clear Statement of Work with the vendor before you initiate the actual project.

Cloud based ERP systems for manufacturing are great support for every company. It saves time and allows sharing the data with every department. CRM and ERP in cloud computing are a handy tools for you and your business. They not only improve keeping records of everything that is happening but also predict any changes or troubles that might be ahead. What is cloud ERP if not a guide that helps you navigate through the database of your company and upcoming challenges? Not only that the system is safe from any human factor mistakes such as spilled coffee. CRM and ERP in cloud computing help businesses and individuals spend less time worrying about technology and focus on what matters.

This article was written for https://cloudport.pl/

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