An ERP system can be best defined as a compact and all-encompassing software that is created to align a company’s business procedures and policies in a shared system. These policies can be related to finance, administration, accounts, and purchasing, among other departments. Until 1990, all ERP systems were operated on premises’, meaning they were operated within the facility of the business. However, with the advent of cloud computing in the 1990s, the concept of cloud ERP was on the rise. Within the next few years, they were widely recommended and used by business owners for their flexible options, competitive pricing, and useful features.
In this article, we will focus more on these features and learn why cloud ERP systems have dominated the market.
Benefits of a Cloud ERP Software
If you are planning to invest in cloud ERP software for your business, you are probably considering many factors wondering whether the solution is worth your money. Well, it certainly is, and in this section, we will tell you why.
Low Initial Investment
This is perhaps one of the biggest benefits of using cloud ERP software. This software cuts down your initial investment cost because it only involves a single investment. You do not need to purchase additional hardware components or a bunch of software, because the Cloud ERP software is all-encompassing.
Businesses regardless of their size are unified by a shared mission- to deploy solutions faster. Luckily, Cloud based ERP systems meet this requirement. So, whether you are an SME or are running any small to a mid-sized organization in Singapore, you can certainly benefit from the software’s quick and effortless deployments.
Better expense management
Another crucial reason to invest in a cloud based ERP system is that it helps you handle cash flow better. This is especially useful to businesses that are constantly scaling and evolving. To back this up, you can also install a perpetual license and host it on the platform of your cloud partner.
Business owners also recommend cloud ERP tools because of the immense scalability they offer. This software can tweak itself according to the changing demands of your company. This in itself is an excellent and highly flexible attribute.
Add greater value
Thanks to advanced ERP solutions hosted on the cloud, you can now have a single software monitoring multiple departments. With IT tasks being automated, your organization enjoys greater value, and your existing resources can be utilized to their maximum capacity.
No business can run stagnant. That is, all leading cloud ERP providers ensure timely enhancements. The existing software is enhanced according to the latest IT and ITIL standards. This helps you stay current and updated with the best industry practices.
Almost all Singapore-based businesses are concerned about data security. Luckily, cloud ERP solutions help address this need. The solution providers guarantee security through their advanced and stringently secured infrastructure and cloud data reserves.
With these manifold benefits, cloud ERP certainly seems to be a worthy investment. So if you are looking to drive more value to your business while also optimizing the cost and the resources, the cloud-powered ERP solutions might be an excellent choice.