In contrast, cloud ERP solutions are hosted on secure platforms, such as Amazon Web Services (AWS), that encrypt all data that enters their global networks. Sadly, should a catastrophic event damage the hardware and/or system, the data may be irretrievable. Security in an on-premises ERP solution includes instituting backup and recovery measures, such as storing data on hard drives, disks, and/or onsite servers. Viewing information, communicating with team members, sharing files (and much more) is possible with a click of a button.Īs previously noted, data security for traditional on-premises ERP solutions rests with a company’s IT experts. Other than needing a reliable internet connection and a cloud-forward device, the ERP solution allows employees to effortlessly connect to the ERP solution from any location and time zone. With a cloud ERP solution, mobility is a built-in capability. And the cloud ERP vendor provides automatic updates while also shouldering the responsibility for maintenance and security.Īccording to Forbes, remote work is here to stay, which means organizations must provide their workforce with the ability to work from home. Because users access the software over the internet using any web-enabled device, implementation is easier and faster than an on-premises solution. And the companies’ IT departments are tasked with finding a location to store the hardware, installing the hardware, and maintaining the hardware (e.g., support, updates, and security), which takes a lot of time, money, and energy.Ĭloud ERP solutions, on the other hand, charge a subscription fee that covers the cost of using the software, the amount of resources used, and the number of users. This is a valid concern when choosing an on-premises system, which requires companies to invest in the solutions’ software, the software’s license, and the required hardware. High operational and implementation costs have often been touted as major reason for not investing in an ERP solution. Lower Operational and Implementation Costs Let’s look more closely at a few of the many benefits businesses can expect when implementing a cloud ERP solution. Author Yashvendra Singh writes: “By taking their ERP solutions to the cloud, CIOs can benefit from lower costs, new functionality, mobility, simpler deployment, elasticity, less need for internal IT resources, and the ability to add users and functions to accommodate business growth. With the ERP market expected to exceed more than US$ 49.50 Billion by 2027, it’s safe to say that the future of ERP solutions is looking bright.Īccording to a CIO article on ERP trends, the move the cloud is definitely happening, and the benefits are clear. Such 24/7 and remote access is unattainable with an on-premises solution and has persuaded 62.7% of organizations to choose cloud ERP solutions over on-premises cloud ERP options. Integrated business intelligence tools within the ERP solution help companies analyze their data in order to gain real-time insights into the health of the organization and into which direction the organization should go.īut what happens when an ERP solution is cloud based? Users have unparalleled access to the business-wide data from any location-whenever they want and whenever they need. The data from each department enters the centralized system and is synchronized, allowing authorized users to access updated, accurate information. In simple terms, an ERP solution is software that integrates a company’s business functions (e.g., accounting, inventory, project management, and more) while connecting a company’s departments through their data. Before examining how the cloud is the main contributor to an ERP solution’s-and therefore, its customers’-success, let’s define what an ERP solution is and does.
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