Seven years ago, the Enterprise Resource Planning (ERP) market witnessed a significant shift in its approach toward cloud technology. Initially, cloud ERP was about moving an outdated legacy product into a cloud environment. However, the lack of focus on data availability and outdated information left finance and leadership departments with obsolete information. Moreover, outdated core functionalities resulted in employees working out of separate disconnected systems, leaving data scattered. But, today, the scenario has changed significantly. With the rapid advancement in cloud technology, cloud-based ERP software has become a game-changer for businesses, providing numerous benefits such as data visualization, remote collaboration, scalability, flexibility, and cost-effectiveness.
Data Visualization and Improved Decision-Making
Cloud technology has enabled businesses to integrate their data across multiple systems, providing a sole source of truth. Unlike legacy systems that were often disconnected and highly dependent on third-party applications, true SAAS (Software As A Service) providers bring you a unified system created for the modern worker. Workflows no longer depend on paper or Excel reports. We have long surpassed those tools as plausible solutions to workflow efficiency.
Cloud ERP solutions like Acumatica ERP, and Microsoft Dynamics Business Central created their software to become an extension of the modern worker. These tools provide powerful analytics tools that allow for real-time data visualization, analysis, and reporting. They reduce redundant and error-prone data entry tasks and give users back the time they need to focus on more meaningful tasks.
By packing their systems with user-friendly navigation and dependable data, Acumatica, and Microsoft Dynamics Business Central help businesses gain deeper insights into their operations, identify trends and patterns, and make informed decisions. These are the core functions you need if you want an agile business that can grow with modern trends and market changes.
Remote Collaboration and Access
With the advent of cloud technology, remote work has become a norm in many organizations. In fact, there is a current trend for people seeking employment based on remote work options. This used to be a huge issue for most companies that couldn’t fathom not being able to keep an eye on their employees. Both for productivity and security reasons. Fast forward to today and you have these intelligent systems that empower your team to come together and collaborate like never before.
Cloud-based ERP solutions enable employees to work from anywhere, anytime, using any device, and most integrate with Dynamics 365. You are likely aware of Dynamics 365 applications like Microsoft Teams and SharePoint, but there are so many other applications within Dynamics 365 that allow teams to collaborate remotely, share files, and communicate effectively. This not only improves productivity but also helps businesses to attract and retain talent from anywhere in the world.
Cloud ERP solutions are cost-effective compared to traditional ERP systems. Unlike traditional ERP systems, there is no need to invest in expensive hardware, software licenses, or maintenance. Moreover, businesses can avoid the high upfront costs associated with traditional ERP systems and pay only for what they use.
Another bonus is fewer overhead costs associated with office space and maintaining an on-premises data warehouse or server. That money can now be reinvested into your organization to help it flourish further.
Scalability and Flexibility
Cloud ERP solutions are highly scalable and flexible, making them an ideal choice for businesses of all sizes. Additionally, cloud ERP solutions are highly customizable, allowing businesses to tailor the software to their specific needs. There are even solutions that have multi-tenant capabilities which allow you to run multiple separate branches of your business under an umbrella. In Acumatica’s advanced Edition, for example, you can add or remove branches at will without having to pay for additional licensing. Businesses can easily add or remove resources as per their needs, making it easy to adapt to changing business requirements.
Cloud Migration: The Way Forward
Migrating to the cloud is not just an option but a necessity for businesses looking to stay competitive in today’s digital age. Cloud migration allows businesses to harness the full potential of cloud technology, providing benefits like data visualization, remote collaboration, scalability, flexibility, and cost-effectiveness. With cloud ERP solutions like Acumatica ERP and Microsoft Dynamics Business Central, businesses can take advantage of cloud technology and transform their operations for the better.