Businesses have quickly adapted to new ways of working this year but maintaining visibility of front-line operations, such as sales and customer service, has become much more of a challenge for business leaders.
This is why many businesses are turning to cloud-based ERP systems to maintain real-time access and give deep insight into their business operations. These cloud-based platforms enable line managers to remotely capture management information in one platform, giving the management team real-time visibility of all day-to-day operations.
Adopting a cloud-based platform enables sales, marketing, HR and accounting access to the same information, and allows tracking and analysis of a wider range of business activities and resources in greater detail than before - product inventory, orders, production, distribution, fulfilment, customer relationship management (CRM), payroll…the list is endless.
According to Statista, the global cloud ERP market is expected to grow 13.6% annually and reach $40.5 billion by 2025. As we adapt to new ways of working in more recent times, this trend is only set to continue as more businesses look to make the transition to a cloud ERP enabling employees to access crucial business insight from any location.
So how does it work?
A cloud-based ERP solution is managed and hosted by a solution provider on its cloud platform, rather than an on-premise network, allowing users access via the internet rather than a VPN. The ERP software is sold as an ‘as a service’ model and the provider will take care of the application, storage, service, security, and upgrades.
The cost model associated with an ‘as a service’ cloud ERP is often more appealing for businesses, as it doesn’t require a large capital investment upfront and falls under operational expenditure in smaller, regular payments. It can usually be deployed more quickly than on-premise solutions, and can be scaled to match business requirements.
Giving you insight from anywhere
A cloud ERP can be accessed from anywhere and at any time, regardless of whether it’s an SME with a single business location or a large enterprise with multiple facilities and employees around the world. Users simply need a device, login details, a secure internet connection, and a browser. Once set up, users can access the cloud ERP quickly and easily. All employees, no matter where they are based have access to the same accurate, real-time information, enabling organisation-wide collaboration.
Updates and customisations can be managed and rolled out remotely as and when required. This ensures that employees always have access to the most up to date technology, and the features and functions they need to carry out their work effectively. Updates can be completed in as little as 30 minutes and implemented outside of office hours to ensure minimal downtime. And even better, as the business grows, cloud ERP can easily grow with it, as vendors can simply bring new units online as required.
As well as delivering effective ‘joined-up’ communication and productivity at every level, the crucial insight delivered by cloud ERP enables businesses to make careful and considered decisions, and react swiftly to changing market conditions. Against a backdrop of uncertainty, agility and flexibility can stand businesses in good stead to remain competitive and profitable, but having a single, real time ‘version of the truth’ is essential.
Find out how NetSuite Cloud ERP can help your business to meet its remote working requirements now and in the future.