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How Has Cloud ERP Changed The Way Businesses Operate Today?

Monday, 20 May 2019, 06:32 Hrs

Here at In Cloud Solutions, it became apparent some years ago that there was only one direction of travel and that was a cloud. Many small and medium-sized businesses have transformed their growth by taking advantage of the speed, flexibility, and visibility that the cloud provides. In our world alone several companies we’ve worked with are now listed on the Sunday Times Fast Track 100 due to their rapid business growth.

So, what are the leading benefits delivered by the cloud and what are the dangers? Let’s take a look.

The democratic cloud

One of the most striking things about Cloud technology has been its democratizing effect – you no longer have to be a large enterprise to afford it. This has meant a proliferation of smaller companies punching above their weight, shipping goods and customizing offerings in a way that has often matched or even surpassed what bigger companies have been able to achieve.

Supporting growth

Cloud technology is ideally suited to grow companies because computing capacity can be scaled up as required. Need to add extra users – no problem! Open up new functionality – easy.  With cloud ERP installed, growing companies have this flexibility built in. You can move from just financials to utilizing other parts of the system, like HR, CRM and Project Management.

A global solution

Cloud technology supports global business by providing a system that connects people wherever they are. Employees can access real-time information to support customers regardless of location. Enterprises can run their businesses across the globe from a single system.

Making better business decisions

A joined-up cloud-based ERP solution empowers business leaders to make better decisions because they have all the information they need at their fingertips. Real-time reporting has really changed the game as you no longer have to wait for overnight reports based on yesterday’s information.

Always up to date

Most cloud software vendors offer automatic quarterly updates as part of the service. This means that you are always on the latest version of the software so you don’t have to start again when functionality moves on.

Is there a downside to the cloud?

Despite bringing cheaper technology to the masses, some people are still cloud skeptics and the area they usually cite is security.

5 Tips to Help Keep Your Cloud ERP Secure

  1. The regular updates offered via the cloud bring new features for you to use but they also help to keep your data secure. Always accept the latest updates when offered.
  2. Cloud ERP allows you to restrict access to certain information. Give staff permission to use only the parts of the system they need to do their jobs.
  3. Train staff to adopt healthy security habits and you will go a long way towards covering your basic security needs. Raise awareness by reminding staff that clicking on unsolicited attachments in suspicious emails can lead to virus infections.
  4. Keep compliant by choosing an ERP system that’s designed to comply with necessary regulations.
  5. Remember that your cloud data is not floating around in the ether but is actually stored on secure servers in data warehouses. These will be heavily secured with round the clock security and surveillance but if you are at all worried then ask your vendor for more details.

What is the future for Cloud ERP?

The future is all about the intelligent enterprise, whatever your size. With a cloud-based digital core in place, you can start to benefit from the exciting new capabilities that are coming on stream. You can hardly have failed to notice the upsurge in offerings based on Artificial Intelligence, from Chatbots and Digital Assistants which learn as they go, to functions like automatic invoice recognition.

The digital cloud ERP of the future will allow you to collect and connect data – simulate potential options and then use that information to respond quickly to changes in the marketplace.

Cloud computing has allowed us to achieve so much already and yet we are only just entering this new era of huge possibility. So many next-generation applications have yet to be invented. We’ve come a long way and there’s still a long way to go.