ERP or Enterprise resource planning is crucial for a modern business to retrieve, collect and store information about their business processes and activities in a more efficient and effective manner. The end goal is to manage them better. In addition, to this, the trend is now shifting from legacy ERP solutions to a Cloud-Based ERP solutions.
Price Waterhouse Coopers has predicted a two-fold growth in cloud-based ERP spending by the end of the current year. There are two types of ERPs: the on-premise and the cloud-based ERP, the cloud-based is seen to have greater potential for growth in the future and is attractive for small businesses.
They are quickly replacing the legacy software used by businesses. Above all, a Cloud ERP is equipped with customizable features and can be scaled as per the user’s requirement. To make the most out of the business users need to explore the best Cloud ERP fit for their business and make a move.
The cloud-based ERP offers the benefit of lower investment requirements and the flexibility to store and have access to information anytime and from anywhere as long as there is access to the internet. The cloud model for ERP is fast gaining popularity amongst leading SMEs.
Small Business and Cloud-Based ERP
Businesses of all types and sizes including small and medium enterprises (SMEs) can impact their bottom line in a marked way by using Enterprise Resource Planning (ERP) software.
Some incentives for adopting an ERP for a small business are better real-time monitoring of business processes, problem-solving, inventory reduction, lower operational costs, better compliance, etc.
Cloud-based ERP is popular amongst small businesses partly due to the growing interest in the analytics features of new mobile platforms, stricter project deadlines, and cost-cutting imperatives.
Adopting a cloud-based ERP could be a game-changer for any business no matter how small.
ERP integration with mobile platforms is becoming a necessity and social media integration is next.
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