Why should a small business use a Cloud ERP?
Why should a small business use a Cloud ERP is an intriguing question, for a small business that is growing fast and is looking for business solutions. Many small companies need to upgrade to an integrated enterprise resource planning (ERP) solution to manage their business processes better and make better strategic decisions based on accurate and real-time data.
The biggest benefits of a cloud-based solution compared to a traditional ERP solution are lower capital investment costs, implementation times, operating costs, and easier customization with any time and anywhere access even from a mobile device to name a few.
Like larger companies, small companies need ERP functionalities in their business solutions to help manage transactions, make sense of the mountains of business data, and give customers a better experience by understanding their pain points. A lot of small companies are using spreadsheets or software like QuickBooks to try to perform these functions, despite their limited functionality and relevance. The use of such outdated business solutions leads to myriad issues and challenges as they are relevant only for limited business functions, and have limitations on collaboration possibilities as well as the number of users. As data volumes in any enterprise are growing by over 50 percent year over year and regulation requirements changing as our business aspirations and relevant geographies, are not designed to tackle them. As a result growing small businesses are at a high risk to suffer inefficiencies, noncompliance, and inoperability.
Small companies were historically barred from adopting a comprehensive ERP solution as they couldn’t afford it due to high initial costs for the data center, software licenses, equipment, and IT staff. They may have only one full-time or part-time person for IT support. So they earlier settled on ERP solutions for specialized business functions like Quick Books for accounting or spreadsheets like Excel.
However, this has changed as cloud ERP solutions allow small businesses to move an ERP solution at an affordable price and add users and functionality based on needs without any hassles of capital investment, set-up times, obsolescence costs, upgrade and maintenance issues.
KEY BENEFITS of CLOUD ERP FOR A SMALL BUSINESS
The following are the key benefits small companies can achieve by deploying a comprehensive cloud ERP solution for their business:
• Improved cash flow, minimal start-up fees with an affordable subscription fee: It requires no up-front capital investment and has no hidden cost component with just the subscription fee that is an operating expense. Implementation, maintenance, uptime, storage & backup, and updates are the responsibility of the solution vendor. Customers pay for the services they opt for in a predictable manner and it is easy to scale up and down based on need.
• Users have any time, anywhere access across geographies and business entities: Any permitted user who has internet access can use the ERP even from a mobile device.
A comprehensive ERP gathers data from different warehouses across geographies, sales orders, web stores, retail outlets, and all business processes across business entities to give an accurate real-time window into business operations.
It also encourages better collaboration between process stakeholders for better process efficiencies. All the users have access to the most updated versions of the solution and data and literally, speaking-everyone is always on the same page. Team members can be anywhere and at any time and still collaborate effectively. Multicurrency and multi-language capabilities are additional functionalities in some solutions.
• Get started quickly and easily: Cloud ERP customers don’t need to set up, maintain, and manage their IT infrastructure as it is the solution vendors hassle as long as basic IT infrastructure like PCs with internet connectivity is available.
The vendor performs the setup, trains the users based on need, and will also configure & customize the solution for the customer, leading to faster ROI results. All maintenance and updates generally happen in the background with minimal downtime.
• In-built data backups and disaster recovery plans: Disaster recovery options by the cloud ERP solution provider reduces the need for space, IT infrastructure, and resource acquisition, which leads to cost savings while also giving smaller companies effective disaster recovery options that were previously accessible by the larger players.
Cloud ERP vendors typically provide service-level agreements that guarantee high levels of system uptime. They can have options for daily backups. And also, maintain historical data for up to seven years to meet regulatory compliance needs.
• Better analysis of the data through better business intelligence and reporting features at no extra cost. Reports and dashboards can easily be customized based on need with the assistance of the solution vendor if need be. Proactive business management due to more relevant and better quality decisions is possible.
Migration to the right cloud ERP solution is an effective game changer for small companies. To migrate from the irrelevant legacy-based on-premise solution or a single functionality cloud ERP to one with comprehensive business capabilities on the cloud. These new comprehensive cloud ERP solutions update centrally, enabling better compliance with tax and financial requirements and a lot more. You get up and running in the quickest time possible. It is affordable and the user does not have to deal with complex IT infrastructure/servers and computer coding issues.
Versa Cloud ERP’s VALUE PROPOSITION for Small Business
We at Versa Cloud ERP have created a multi-award winning, secure, comprehensive Cloud ERP solution that is e-commerce and mobility ready. The Versa Small Business Cloud ERP dba Versa system is accessible anytime and on any smart mobile device. It provides support for e-Commerce and Multi-Channel Retail including integration with 3rd party e-commerce platforms as well as POS systems.
In addition, the Versa Small Business Cloud ERP system can remotely manage Master Data on multiple e-commerce and POS systems including product description, pricing, images, etc.
It is affordable and targeted towards SMBs and is backed by a promise of dedicated support. It is being used by clients in diverse verticals and could help you redefine the way you operate and grow your business.
Our solution is designed for fast-growing businesses, between $1-$50 M in annual revenue, looking to upgrade business management solutions like entry-level accounting products or mid-tier legacy on-premise ERP systems, or even those looking at comprehensive and affordable ERP solutions.
Built from the ground up on the latest cloud and mobile technology, the Versa Cloud ERP system allows businesses to automate and optimize their operations across multiple companies, countries, and currencies with one integrated ERP system.
We will help you in a structured manner to migrate your data seamlessly from Epicor, Infor, QuickBooks, Microsoft Dynamics, MYOB, Sage, SAP Business One, etc when you make the decision.
Effectively manage your financials, inventory, and production workflows with our award-winning ERP.
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