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Should My Business Switch to a Cloud-Based ERP Software?

Aug 20, 2020 12:05:45 PM

Once upon a time, way back in the 1960s, Enterprise Resource Planning (or ERP) was originally a concept applied to inventory management and control. By 1990, the system had expanded well beyond a few inventory and operational activities: it developed into a multi-functional solution that performed essential back-end processes, such as accounting, financial reporting and even regulatory compliance. Present-day ERP software has streamlined operations throughout all aspects of a business, including inventory, financials, CRM, marketing, and beyond. Functions that once required multiple platforms can now be automated through a single system. 

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From On-Premise to Cloud

Throughout much of its lifetime, a majority of ERP functions were managed internally. Once the software was purchased, it was installed through on-premise servers, and maintenance was under the company's purview. The modern-day alternative employs a cloud-based system that makes ERP software more affordable and convenient to implement and manage. Over the past five years, the number of enterprises transitioning from on-premise ERP to a cloud-based model has increased substantially due to its advantageous capabilities. 

Making the Move

So, why are so many businesses making the switch? Some have found that their in-house system had too many limitations. Others had discovered that when it was time to upgrade to a new operating system, their locally based ERP software couldn't function as needed - this meant profit-eroding downtime. 

 

The advantages of transitioning to the cloud are endless, but we’ve narrowed it down to three main benefits: 

 

Security: The cloud model provides built-in security systems, offering visibility and security analytics across the entire environment. 

 

Reliability: With a cloud environment, the chances of downtime are far less, enabling a business to utilize assets to the fullest and keep customers satisfied. 

 

Flexibility: Should a company need to scale its ERP plan, the cloud's subscription model can provide flexibility and customization at a reasonable price. 

 

The Trusted Source

When system migration gets the green light, many enterprises turn to neo3, a Northeast Ohio-based turnkey provider of ERP software solutions, to make the transition virtually seamless. The software of choice? Oracle NetSuite®, an organization trusted by many world renown businesses to handle their financial and operational processes. 

 

Several businesses—local and regional—depend on neo3 to install cutting-edge ERP technology customized to their business operations. Request a free business review to unlock the many ways NetSuite can improve efficiency and move your business forward. 

 

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Written by neo3

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