Let’s look at three of the primary business drivers that send companies to opt for a cloud-based ERP, and how the ERP helps address those needs or pain points.
A Compelling Event
Mergers, acquisitions, and divestitures are events that require consolidation of financials and integration of systems. Doing these tasks on-prem can be expensive and complicated. It can lead to multiple silos, which in turn can create a significant amount of manual work, patching, and time taken away from achieving business goals.
Cloud-based ERP’s strength offers scalability, integration, and visibility, for your business as well as forecasting capabilities in response to compelling events.
Fast or Significant Growth
If your company doesn’t want to become a victim of success because of quick growth without the right systems in place to handle it – a cloud-based ERP that scales with you is a must.
If you plan to introduce new data sets, products or services, or even new divisions into your business functions, you can integrate them easily into one centralized system. This will help connect all the relevant dots across your company, providing business leaders with a complete and holistic view of operations, costs, and spending.
Business Continuity and Agility
If your business were operating during the pandemic – you know how hard to foresee what to expect in the future.
It is crucial to ensure the smooth functioning of your business and to be able to adapt quickly to changes and continue operating under any circumstances. With a cloud-based ERP, all your systems are accessible from any location, at any time, on any device, if the person has the necessary identity and access privileges. This ensures that your business can continue to run smoothly, even in challenging situations.
Moreover, you can be certain that your company’s reports, invoices, and sales sheets are always up to date. They are easily accessible in real time, eliminating the need for searching through inboxes or desktops.