Cloud ERP Guide
Juggle multiple tasks, maintain efficiency and profitability with Cloud ERP transformative technology
In today’s rapidly changing business landscape, juggling multiple tasks while maintaining efficiency and profitability can be difficult. That’s where cloud ERP comes in — a transformative technology to streamline your business processes and operations.
If your business is considering moving over to a cloud ERP system, this can be a major catalyst for growth for your organisation. Let’s take a closer look at the benefits of cloud ERP:
- Cost-effective solution
Unlike traditional on-premises ERP systems, cloud ERP solutions provide the flexibility and scalability to access it anywhere with an internet connection. On-premise ERP systems require on-site IT staff, operating costs and physical hardware that can incur many challenges. This requires constant upgrades and hardware maintenance.
Cloud ERP solutions are far easier to implement, particularly for small to medium business enterprises, since they reduce the initial set-up and hardware costs and are instead billed on a subscription month-to-month basis.
- Improved efficiency
Users share a common user experience across many business functions, including resource planning and allocation. Maintenance is also automatic with minimal downtime and is managed by the host, so your company can focus on performance.
A cloud ERP system is accessible from virtually anywhere with an internet connection. This accessibility enables remote work, a competitive feature in today’s business world that increasingly encourages hybrid and remote work.
Cloud ERP: Factors you need to consider for your business
To compare cloud ERPs for your business, you should be aware of the different available features to decide what best suits your needs:
- Mobile app functionality
A cloud ERP mobile app means users can access the cloud ERP system easily from their phone or tablet when on the move. This includes the ability to view and update customer information, update inventory levels, access real-time financial reports and expenses, manage payroll, view and update supplier information, create and manage project tasks and manage production schedules and work orders. You can even receive push notifications for important updates, such as low inventory levels.
- Business intelligence analytics
Cloud ERP systems are home to business intelligence (BI) and analytics functionality to better inform your business decisions. View financial, inventory or sales reports in a user-friendly format, access interactive dashboards to monitor KPIs, export data to other tools like Excel for further analysis, make predictions about further sales trends or opportunities, allow the system to make smart recommendations and allow users to collaborate. Gain real-time insights into key business areas and respond to shifting business conditions.
- Open platform
An open platform cloud ERP means it easily integrates with your other software, such as accounting software, e-commerce platform or logistics systems, to suit your organisation’s needs. Some have an open-source code that is publicly available to allow user modification and flexibility. Opt for additional plug-ins or add-ons to enable integration with other software, a software development kit (SDK) to allow developers to integrate add-ons or the option for a customisable workflow to automate business processes to suit your needs.
- Global support
With many businesses hiring overseas staff where English may not be their first speaking language, the cloud ERP system should be available in multiple languages to support all users. It should support multiple currencies and different time zones, accommodate different tax laws, comply with privacy and compliance laws in different regions, store data regionally per local regulations, and provide local support and maintenance. These features will ensure global users have a seamless experience to make the most of its functionalities.
Have your pick from subscription-based pricing where customers pay a monthly or annual fee, pay-as-you-go if you have fluctuating resource needs, pay per user if your business has many users, charge customers per transaction or take a hybrid approach, like a base subscription fee with additional charges per user or transaction. We recommend signing up for a free trial before committing to a paid plan to choose a pricing model that ticks all the boxes for your business.
Discover more about Cloud ERP
Cloud ERP systems are highly versatile with applications across many industries:
- Manufacturing — Track raw materials, work-in-progress and finished goods in real-time, ensuring efficient operations with a cloud ERP system.
- Retail/commerce — Real-time data from cloud ERP enables retailers to make informed decisions about restocking and pricing.
- Healthcare — Streamline all administrative processes from patient billing to appointment scheduling and medical records management.
- Financial services — Manage your financial reporting, risk management and regulatory compliance with cloud ERP. The real-time financial data will aid in making informed investment and lending decisions.
- Hospitality/tourism — Manage reservations, room occupancy and guest services easily using cloud ERP solutions. Coordinate bookings across multiple platforms, manage staff schedules and monitor customer feedback.
- Education — Streamline administrative tasks from student enrolment to course scheduling and fee management.
- Construction/real estate — Cloud ERP simplifies project management, resource allocation and budgeting.
- Transportation/logistics — A cloud ERP system is vital to managing complex transportation and logistics networks, optimising route planning and cargo tracking.
- Energy/utilities — Cloud ERP systems help utility companies manage their infrastructure efficiently, reduce downtime and ensure safety and compliance.
- Professional services — Professional services firms, from law firms to consulting agencies, use cloud ERP for project management, time tracking, billing and more.
Download our Cloud ERP Software Solutions Guide
and compare cloud ERPs today
At SMC, we’ve partnered with organisations across all industry sectors, from mid-market to large enterprises or small start-up businesses, to deliver cloud ERP solutions that help maximise ROI. Download our Cloud ERP Guide to compare cloud ERPs and choose the right solution for your organisation. While you’re here, learn how to protect your profit margins with enterprise planning and learn more about our enterprise software and transformation insights.
Are you still unsure which cloud ERP system is right for your business? Complete this simple quiz, and we’ll advise you on the Vendor software best suited to your needs. If you have any questions, contact our team, who would be happy to help.
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