Enjoy higher cost savings and minimal maintenance with Cloud ERP

If you are a business that needs access to full-function applications at a reasonable price without a substantial upfront expenditure for software or commitment towards long term infrastructure costs, then you must have heard about Cloud ERP.
Enterprise Resource Planning (ERP) is a management software, which is generally provided as a bouquet of applications, and which aims to drive automated data collection, interpretation, storage and management from various streams such as accounting, inventory, marketing, service delivery, operations etc.
Cloud ERP basically allows users to access Enterprise Resource Planning (ERP) software over the Internet. Cloud ERP generally has much lower onboarding costs, because computing resources are leased by the month rather than purchased outright and maintained on premises. Cloud ERP also provides companies access to the applications and data sans boundaries or geographical locations.
Technically the difference between Cloud ERP and on-premises ERP might be the way software is stored, accessed and maintained, but there are other considerable differences at play. Let's look at some of the key characteristics and advantages of Cloud ERP software.

Benefits of Cloud ERP

Performance
Performance
Cloud-based ERP solutions are much faster compared to in-house ERP because the former require a steady Internet connection whereas the later requires fair amount of computer power to function with highest efficiency. In the case of the former, the resources to host the solution are taken care of by the provider, which means that the systems should perform better than most of the similar configured on-premise solutions.
Cost
Cost
A cloud-based ERP can be used by setting up an account with a flat-rate monthly fee, which means total cost of implementation will likely be far lower. Beyond this, some ERP providers can also manage the solution, taking care of installing and maintaining the systems. This in turn, even outs the operating costs, and if implemented correctly could even result in an overall decrease in expenses.
All on-premise ERP solution requires considerable amount of hardware power to support it, along with knowledge and inputs from trained staff. The effort to install applications and maintain it, grows over time and for any small to medium businesses, this is an additional overhead. Combine this with the fact that purchasing the ERP solution, and the related licenses, could add up to a large percentage increase in overall IT budget.
Scalable
Scalable
Compared to on-premise ERP solutions, cloud-based ERP systems are easily scalable, meaning that whether you need concurrent access to the applications for 100 or 1000 users, the cloud elasticity can support the request. This makes it easy for organizations to scale up or scale down depending on their requirement. Having the ability to only use resources that are needed is a great way for your organization to save effort and money.
Accessible
Accessible
Cloud-based ERP solutions are accessible via the Internet, which means anyone can access the information provided they are connected to an Internet connection. This ability to access information ( data and systems) increases overall ease of doing business operations and thereby also increases productivity.
Recovery
Recovery
Cloud-based ERP systems have well-defined policies and plans for backup, restore, recovery, and many other disaster recovery functions ensuring that your data is never lost or completely out of reach.
Support
Support
Cloud ERP hosting companies provide 24X7 support. Beyond the obvious, the cloud ERP providers also continuously update the ERP solution with latest patches, security vulnerabilities etc. All security features with issues fixes are pushed immediately to all the users.
Cloud ERP does come with its own set of challenges. Business must acknowledge the risks around Compliance, security, hidden costs, and organizational challenges. Therefore, anyone trying to get into the Cloud ERP bandwagon needs to consult with a provider who has deep technical expertise in the cloud ERP space.