Cloud benefits best suit growing SMB’s ERP needs
Without doubt, Cloud benefits best suit growing SMB’s ERP needs in letter and spirit.
According to US research firm Aberdeen Group in a Sept 2014 study, ‘Improve Your Midmarket Business Operations With Cloud ERP’: SMB’s that are leaders in terms of business performance are twice more likely to opt for a cloud ERP solution than their laggard peers.
This trend has grown further in 2015-16 and continued to gain further ground in 2017, 2018 and 2019.
This is because implementing a cloud ERP solution leads to cloud benefits like operational improvements and better access to relevant data in real time that can improve business processes. This helps in maximizing employee productivity and helping to identify & thus eliminate process waste.
Some of the key reasons why a cloud ERP suits SMB’s are:
1. Low upfront costs with no hidden component:
The first cloud benefit is the cost of acquiring cloud ERP software is affordable with no heavy down payment or software licensing fees. There is no need for additional hardware or extensive IT Infrastructure because the cloud software can be run on basic IT hardware and infrastructure. There is a subscription fee pricing model that makes puts it within the reach of those with modest budgets and these fees can be entered as operating expenses in the income statement instead of being considered a capital expenditure to be entered in the balance sheet.
2. Easier training process:
The second cloud benefit is reduced implementation costs of cloud-based software can also be attributed to the fact that digital training methods are used with various version for getting familiarity and the use of standard business process models in the solution. Training is focused on the features relevant to the company and no knowledge of coding is required to customize the solution.
3. Lesser maintenance costs:
Another key cloud benefit is inherent because cloud software is managed and maintained the vendor, there is no need to assign an on-site IT team for downtime, upgrades and scheduled maintenance. All these are a responsibility of the vendor and are generally managed in the background with least disruption and in a seamless manner.
4. Flexible and up to date:
The cloud benefit of ease of use is the modular aspect of cloud-based ERP systems that allows you to add or remove features and applications without having to change the existing infrastructure or get involved with detailed coding. Customization is possible in a user friendly manner without any knowledge of coding in dashboards, reports, analytics etc. Due to the automatic updates by vendors, you can always have the latest version with the latest features.
5. Scalable configuration and pay-per-use model:
The scope of services bought by you can be adjusted as your business needs and financial situation changes in a user friendly manner with a few clicks. The monthly rate is based on the usage you opt for and you only pay for what you really use. It is easy to drop modules/users or add them as and when required.
6. Better geographic relevance:
Cloud ERP software is accessible through an internet connection, so it can be used anywhere, at any time and from anywhere as most relevant cloud ERP’s are mobile friendly. All that needs to be done is to give the user access to the system and you can even have real time connectivity with field staff and process stakeholders on the go. You can use a solution across multiple entities, locations and currencies without hassles as you grow your business geographically.
One of the key concerns about the cloud is now a key cloud benefit. Data entered in the cloud ERP can easily be recovered easily in the event of a disaster, without the need for an IT team to perform regular backups. Employees also have access to the same data which is accurate in real time and thus minimizes the risk of errors and more accurate transactions and commitments. Also with billions of dollars being spent on cloud security with the best minds working on it, security competence on the cloud is already better than in other traditional IT environments and the gap is widening as we speak.
8. Generally shorter implementation process:
Since there is no need to install applications and create extensive IT infrastructure for cloud-based software, they can be implemented in a much shorter timeframe compared to traditional systems, provided there are no extensive customization needs. Excessive customization will increase costs and are not required for most SMB’s.
OUR VALUE PROPOSITION
We at Versa Cloud ERP have created a multi award winning, secure, comprehensive Cloud ERP solution that is e-commerce and mobility ready. The Versa Small Business Cloud ERP dba VersAccounts system is accessible anytime, and on any smart mobile device. It provides support for e-Commerce and Multi-Channel Retail includes integration with 3rd party e-commerce platforms as well as POS systems.
In addition, the VersAccounts Small Business Cloud ERP system includes the ability to remotely manage Master Data on multiple e-commerce and POS systems including product description, pricing, images, etc.
It is affordable and targeted towards SMB’s and is backed by a promise of dedicated support. It is being used by clients in diverse verticals and could help you redefine the way you operate and grow your business.
Our solution is designed for fast growing businesses, between $1-$50 M in annual revenue, looking to upgrade business management solutions like entry-level accounting products or mid-tier legacy on-premise ERP systems or even those looking at comprehensive and affordable ERP solutions.
Built from the ground up on the latest cloud and mobile technology, the Versa Cloud ERP system allows businesses to automate and 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 Epicor, Infor, QuickBooks, Microsoft Dynamics, MYOB, Sage, SAP Business One etc when you make the decision.
We’d love to hear from you.
THE 8 BENEFITS OF CLOUD ERP FOR GROWING SMBS by Pascal Bouchard- ACCEO Blog