What is Cloud ERP?
Traditional ERP solutions are often housed within a company’s own server infrastructure and require updating and servicing to stay current. Cloud ERP, as the name suggests, is based in the cloud much like SaaS (Software as a Service.) Unlike traditional ERP software, Cloud ERP relies on the cloud rather than proprietary server infrastructure to help companies share information across departments. Cloud ERP software integrates some or all of the essential functions to running a business, e.g. accounting, inventory and order management, human resources, customer relationship management (CRM), etc. - into one complete system.
Essential to Cloud ERP systems (and on-premises) is a shared database that supports multiple functions used by different business units. That allows employees in different divisions to access and rely on the same information for their specific needs. And with Cloud ERP this is accomplished without requiring an extensive (and often expensive) on-premises server presence.
What are the benefits of Cloud ERP?
Cloud ERP solutions are more accessible and more mobile than their traditional on-premises counterparts. Companies can upload and access data in real-time via the cloud, from any device with an Internet connection, allowing for greater collaboration among departments.
Having all of your business applications, such as your CRM and accounting system, for example, on the same cloud platform allows you to unify your systems of engagement with your systems of record. Instead of having your company’s front and back office applications in separate systems, using one cloud platform allows your apps to talk to each other, share a central database, get real-time reporting and use a single user interface.
Does Cloud ERP need to be updated?
Unlike traditional ERP software, cloud ERP users receive updates to the software as soon as they are available. Cloud ERP is also highly customizable and easily configurable to your business.
How does the security of Cloud ERP compare to on-premises ERP solutions?
It’s just as safe. On-premises ERP solutions consolidate information into a centralized and encrypted server network. Cloud ERP solutions use this same setup, only the servers are located in secure facilities hosted by a provider who takes on the effort to secure the networks. Cloud ERP providers often leverage infrastructure investments in security and controls in the platform on which their applications are hosted on. In addition to this, cloud ERP vendors also add their own control processes, security and more by complying with industry-standard audits such as Service Organization Control 1 (SOC 1).
Is Cloud ERP as customizable as my current ERP platform?
Absolutely. Cloud ERP allows businesses to customize applications, reports and business processes just as much, if not more than, traditional ERP solutions, because the software is more flexible.