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Future of ERP applications lies in the Cloud

The Future of ERP Applications lies in the Cloud

The Future of ERP Applications lies in the cloud with the Cloud ERP.

In ten years, we may be able to give transaction approvals and use the complete functionalities of the ERP from remote locations . Revenue forecasts in real time and integration of artificial intelligence functionalities will provide access to capabilities never thought of. Integration with social media, compatibility with IoT technology, big data and complete traceability of transactions  is the future.

The Future of ERP applications is exciting and is evolving as we speak!

The technology challenges

The level of the current business capability expected from a cloud ERP solution can be achieved by the current technology even in an all cloud strategy.

A cloud ERP solution does not support extensive customization as it uses a standard business process model. Extensive customization on it is currently an expensive exercise well worth avoiding.

Adopting a standard business process model has significant advantages like improved business operations and better monitoring.

Cloud ERP and Security

There are billion dollar spending budgets and the best minds working 24X7 on cloud security in cloud service providers like AWS. Companies like AWS are spending more to bring it up a notch on a regular basis.

A cloud ERP solution is as at least as secure and actually more secure than any other IT solution deployment option.

As per an EY report

Of people surveyed in an EY report, most companies were willing give up business process functionality if it provided them with a competitive advantage.

The next big challenge for the cloud could be complete customization possibilities without upsetting cost structures.

Process standardization drives in business verticals will drive cloud ERP adoption for business.

Strategic value of cloud ERP systems may come from bundles of SaaS solutions that integrate and operate well with each other.

The future of ERP applications may see the adoption of hybrid cloud solutions by the larger players. As the cloud evolves, an all cloud strategy may turn out to be a business mantra for most businesses.

Why VersAccounts

VersAccounts ERP is a secure, comprehensive cloud ERP solution. The VersAccounts Small Business Cloud ERP system is accessible anytime, and on any smart mobile device. This ERP is capable, easy to use and affordable and is backed by a promise of dedicated support.

VersAccounts Small Business Cloud ERP is iseal for fast growing businesses, between $1-$50M in annual revenue.

It is built from the ground up on the latest cloud and mobile technology. It allows businesses to  optimize their operations across multiple companies, countries, and currencies with one solution.

We’d love to hear from you.

Reference:

Performance, Volume 8, Issue 4, November 2016

http://performance.ey.com/

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