The Cloud Advantage in ERP Solutions
Businesses globally are now seeking the cloud advantage in ERP solutions for the inherent advantages that it offers.
According to Forbes, PwC predicted that by the end of 2016, investments in SaaS or cloud based ERP solutions will more than double. They also said investments in traditional on premise ERP systems will decline by over 30%. Their 2015 data showed that new license revenues for traditional on-premise ERP systems were declining since 2013. They had already been surpassed by global revenue from cloud-based SaaS ERP solutions.
Hitachi Solutions Europe in 2015 found that over 30% of organizations have already moved part or all of their ERP solutions to the cloud. It is no longer just smaller organizations taking a cloud-based approach to ERP. Almost a third of the larger organizations surveyed said that they have moved their ERP to the Cloud, or were doing so.
A growing number of small to midsize businesses are ending use of on-premises ERP software and moving to the cloud.
Why the cloud model
A cloud-based ERP solution offers businesses a quick and seamless setup. The implementation is in a matter of hours or days at the most, with no need for intervention from the IT department. These types of solutions are effective because of the nature of the cloud is extremely user friendly apart from other advantages. The cloud takes ERP to a whole new level. It has the ability to do business anytime, anywhere, and from any device with internet access. The cloud is already the preferred choice due to its affordability, easy & anytime/anywhere access, lower financial barriers and minimal set up times. It is already more secure than any traditional IT model.
A well-designed cloud-based ERP solution also has the ability to offer businesses a single view with a high level of detail into their operations. By giving them access to real time data on how the business is performing, they are able to make better data driven decisions.
The key trends of the future of the Cloud ERP
Finally, the cloud offers users tremendous cost benefits because there are no hardware or maintenance costs attached to it. Users simply pay a predictable, flexible monthly subscription which is in line with their cost expectations, enabling businesses to grow and scale up as necessary.
Here are some of the cloud ERP trends that we saw in 2015 and that continued in 2016:
User friendliness and ease of operation are keys to successful implementation and use
If an ERP system is difficult to use, there is a strong chance that implementation will not succeed as its operability will have issues. Therefore we will see even more improvements to user experience and user interfaces.
The large numbers of millennial youth rising up the ranks in the corporate world are the new ERP users who demand ease of use, accessibility and continuous system improvements.
With organizations are facing constant market, industry, operational, legislative and personnel changes; flexibility has to be a feature of any ERP system.
Requirements and situations may frequently change, and having the flexibility to incorporate new technology, or in any combination with others will make organizations more agile, responsive and proactive.
Mobile and cloud ERP
Cloud-based systems often enable better accessibility and collaboration with the use of smart devices on the go. This places greater emphasis on responsive design of interfaces.
ERP solutions that are built with mobile in mind and are able to balance the need for mobile usability with secure access will be favored by the buyers.
Big data and business intelligence
ERP software is evolving from just being big data collection tools into business intelligence (BI) software solutions. They should be able to drive decision-making and shape business strategies with analytics, reporting, forecasting and planning.
5. Integration of Artificial Intelligence(AI):
All ERP’s in the future will see an integration with AI that will delegate a lot of decision making to AI. The future of the level of integration with AI is still evolving as we speak.
We at VersAccounts have created a secure cloud based comprehensive ERP solution that is mobility ready. The VersAccounts Small Business Cloud ERP system is accessible anytime, and on any smart mobile device.
Our solution is designed for fast growing businesses, between $1-$50M in annual revenue, looking to upgrade business management solutions. Our solution is capable, affordable and easy to use.
There are customization options with easy migration from other solutions preexisting or in the business environment.
It is built with the latest cloud and mobile technology. It allows businesses to optimize their operations across multiple companies, countries, and currencies with one integrated ERP system.
We will help you in a structured manner to migrate your data seamlessly from your existing ERP.
We’d love to hear from you.