Why now is the time for ERP in the cloud!

ERP on the cloud gives businesses the flexibility to keep pace with new technology- According to Sources.

According to Survey First ERP Trends Report, more than 400 finance and IT leaders, has found 76% of respondents said they either has plans for ERP in the cloud or have made the move already. They are recognizing that waiting puts them at a disadvantage; the time to make the move is now.

The majority of respondents cited economic factors as the reason they made the leap, and it's easy to see why: Nucleus Research recently published a report that cloud delivers 3.2x the return on investment (ROI) of on-premises systems, while the total cost of ownership (TCO) is 52% lower.

But even more surprising were the benefits realized once our survey respondents got to the cloud. An astonishing 81% cited "Staying current on technology" as the main benefit of moving to cloud ERP. With a regular cadence of innovation delivered by the cloud, it is easier for companies to quickly incorporate game-changing technologies into everyday business processes - technologies like artificial intelligence, machine learning, Internet of Things (IoT), block chain and more. In the cloud, the risk of running the businesses on obsolete technology drops to zero.

"One of the key value propositions in engaging with Frontline Information Technology (FIT) and implementing the cloud solutions has been the value of keeping current with technology and technological developments. Uncertainty is the new normal in business and managing amid uncertainty is a must. It's no longer enough to be quick-to-change; competitive companies must also have reliable insight into how potential future scenarios could impact performance.

So, what does that mean in terms of daily operations? Basically, it means people using knowledge to make good decisions in a fast, productive, and highly automated manner at all levels of the business. Cloud systems provide the data integration and ongoing technology refresh to incorporate best practices and technology advances.

The the cloud also makes it easier to integrate external sources of valuable, contextual knowledge that helps improve the accuracy of data models. This is important considering the scope of threats to sustainable operations for businesses with large, global footprints. Political, environmental, and economic factors across multiple regions could impact business, such as limited travel capabilities slowing down the delivery of key supplies.

Business uncertainty is everywhere, and organizations must be able to say, ‘What is our plan if X happens? What is our plan if X, Y, and Z happen, but W doesn't' And this insight must come quickly. Business moves too fast for reports to take days to compile.

ERP replacement effort is not what it used to be

One final stone on the scale in favour of ERP cloud is that migrating does not have to be painful. Don't let memories of past onsite replacements haunt you. With the right products and the right expertise behind them, cloud migrations happen quickly, cause minimal business disruption, and don't require the intense user training.

Considering the benefits for cost savings, elimination of technology obsolescence, and ease of adopting emerging technologies, it is becoming harder to justify a wait on migration to the cloud ERP. Disruption is not an issue, and long-term cost saving is substantial. Most importantly, modernizing ERP is an opportunity to modernize the business and embed an ever-refreshing technology infrastructure that enables higher performance on multiple levels.