8 reasons why cloud ERP should be your next step
The many upsides to the cloud
You know the benefits of Enterprise Resource Planning (ERP), sometimes called business management software. Pulling all your information into one system allows you to automate and improve processes across your business.
Traditionally, licenses for ERP had to be bought outright and installed on an internal server. To access the software, team members needed to be connected to the server, which generally meant they had to be on site.
Cloud software is hosted by the provider instead. Businesses pay for a subscription, then access the software from any internet-capable device. While the only technical difference is down to the hosting, the practicalities of the two options mean cloud often comes with a raft of benefits – and could be the key to putting you ahead of the competition and set for more growth.
Rather than being tied to the office, cloud hosting lets your team access your ERP system from any internet-connected device. As flexible working becomes the norm, this has become mission-critical functionality.
If you need to rapidly scale up to meet seasonal demand or take growth opportunities, cloud ERP is a must-have. It lets you add users instantly without any loss of performance, where on-premise hosting means you’re limited by the size and capacity of your server. Even if you’re not dealing with lumpy demand, or rapid growth, establishing cloud ERP now means you’ve future proofed your business -the software scales when your business does.
As time and technology move on, using up-to-date software is crucial to your success. With cloud ERP, upgrades happen automatically, usually within your monthly subscription. This means you’re always getting the full benefit of the platform.
Good cloud software is backed by a team and processes dedicated to keeping it up and running. It’ll often have far more built-in redundancy and consistent backups than most on-site servers. That means you avoid catastrophic loss of data, significantly reduce downtime and get back up and running if disaster strikes.
It’s a bit of a myth that the cloud is less secure. The reality is that good cloud ERP has security measures in place that far outstrip most on-site servers. Unless you have a dedicated team of IT experts protecting your system, the cloud is most likely the more secure option.
While some high-performance servers can deliver exceptional speed, most businesses can’t afford to regularly update and maintain such equipment. It means cloud systems are the better option and far faster to use.
While on-site hosting does have some upsides, there’s no denying it’s the more expensive option. On top of the upfront cost of buying a software license, you’ll also need a server and pay to have it set up, and then regularly maintained, upgraded and backed up. After a few years, you may need to invest more money to buy software upgrades. Cloud software eliminates those expenses. Rather than paying upfront for the license, you’ll generally pay a subscription fee, which will include hosting and upgrades.
Large corporations like AMP are moving their centralised offices to multiple suburban hubs, or allowing employees to choose where they work – as software giant Atlassian is doing. This downsizing of office space is facilitated by cloud technology – companies no longer need to find storage room for bulky servers or workspaces for teams to all be onsite at the same time.
With the cloud, the sky’s the limit
Whether you’re looking to get more mobile or support your fast growth, moving to cloud business management software could be your next step. You’ll find it significantly reduces your upfront and ongoing costs compared with on-premise systems, while improving access, scalability, security and speed.
Think cloud ERP might be right for your business? Get in touch to discuss the benefits of the MYOB Advanced platform.