4 Reasons Why Growing Businesses Need Cloud ERP
Success in business today is centered around the customer. And a big part of creating a great customer experience is the tools and technology you use every day. That’s why businesses achieving or aiming for continued growth are turning to cloud technologies that will scale and adapt with their business needs.
The cloud is nothing new. In fact, adoption over the last few years has been steadily rising. But even still, businesses approach the cloud with a certain level of unease.
But the fact remains that when growth is a key objective, you can’t let your tools hold you back. Modern technology is a must for businesses that want to remain relevant and valuable to their customers.
We are firm believers that the right technology solution can fuel success.
The beauty of cloud ERP – or really, any cloud-based solution – is in its flexibility.
It’s tech with a tailor built-in.
As a growing business running on a cloud ERP, you can easily scale from 10 users to 25 with no downtime. It’s as simple as adding a few additional licenses. And, as your business changes, you can adjust your implementation to suit. No more getting stuck in an outdated version of software, no more clunky processes.
If you aren’t already considering cloud ERP, here are the four key benefits of managing your business in the cloud.
The Benefits of Cloud ERP
1. Learning Curves and Downtime, Ain’t Nobody Got Time For That
Time is money, and that sentiment could not ring more true for growing businesses.
Traditionally, moving to a new system – especially one so integral to your back office and operations like an ERP – has required a lot of time. Time to implement, train administrators, and to onboard your end-users. But cloud solutions are inherently easy to use, with consistent updates to improve and streamline the user experience. Not only does this improve adoption, but it increases your ROI significantly right out of the gate.
Cloud implementations also boast a faster time to market than traditional on-premises installs. This rapid deployment enables your team to focus their time on your business efforts, not waiting around for your tools to catch up with the business.
Of course, any new business tool will take some time to learn and integrate into your business. To speed up the process, look for an ERP that runs on the similar terminology as your current system so you can jump right in without missing a beat. And it always helps to look for an implementation partner that builds end-user training into their approach.
2. Integration, Now Customized
Growing businesses require well-defined processes. Processes that will – ideally – mold to your needs, not to your system’s.
Often, entry-level tools either 1.) cannot accommodate specific business requirements or 2.) there’s a lack of resources – like time and money – to undergo an extensive custom implementation.
Ease of implementation and customization are two of the cloud’s best features, in our opinion. An organization running on cloud ERP has the power of configuration on their side – customizing forms, adding user-defined fields per client, and adapting scripts based on business logic. Rather than designing a highly customized solution that will get rigid and brittle over time, the cloud gives you base functionality with easy “tweaks.” At Eide Bailly, we believe in the 80 / 20 rule when it comes to picking your technology. Find a solution that fits 80% of your needs out-of-the-box, and customize the final 20%. Not only do SaaS solutions fit that requirement in most cases, but the regular updates and add-on’s also make them that much more robust.
There’s also the bonus of add-on solutions and easy integration with the rest of your business systems.
Because a tool that doesn’t play with the rest of your business isn’t really a tool at all.
Today’s cloud-based platforms are built on an API that allows for easy integration between all of your business-critical areas. By connecting your various tools and data sources, you’ll provide your team with more complete information to make better business decisions. This leads to better collaboration and happier customers.
3. Anywhere, Anytime, On Any Device
A lot of business today is done outside of the office. In fact, I wrote this during my layover.
Mobility and accessibility in today’s business environment are key. Whether I’m on site with a client, on a flight, in the airport, at my home, or in the office, I need access to the same tools and information. My job responsibilities and technology demands do not change based on whether or not I am in the office.
The cloud gives your team access to what they need, when they need it, on their work computers or mobile devices. It eliminates that clunky VPN connection and limited access to information.
When you’re growing, you need to move fast. Cloud ERP gives you easy access, streamlined experience, and the power to do business from anywhere.
4. Eyes Wide Forward
When you expect to grow by large percentages, forecasting can be daunting. But don’t let your tools be a limitation.
Back in the day, organizations had to accommodate for their growth by predicting their technology needs months to years in advance. And, not surprisingly, they often missed the target.
Your focus should be on your business goals. Keep your energy on your objectives and implement a technology solution that will grow with your business. Traditional business management software limits growth because of its innate lack of elasticity. The ability to scale is a huge advantage of cloud ERP. It gives you the power to respond proactively to change and expand with your business.
It makes your business system an asset to your growth, not a restriction.
Cloud ERP is particularly efficient in growth businesses because it is built on an adaptable platform that is quick to implement, designed to integrate and scale, and puts mobility and UX at the forefront – all of which are traditional challenges of legacy systems.
In fact, the downfalls of legacy ERP and business management software are well documented. How is dated technology harming your business?