In today’s fast-paced business environment, technologies change even before businesses could adapt to them. It’s hard on the businesses, as they already have no respite from a number of challenges they have to deal with on a routine basis.
Amidst all these challenges, they need to figure out ways to create new opportunities and proactively deal with the fickle market conditions. Or in simpler words, they need to indulge in constant innovation and transform their processes in order to take on the challenges presented by the changing business environment.
All these things seem to be inter-related, and they indeed are.
The only way out of this cycle for the manufacturers is by having a modern, flexible, and up-to-date software infrastructure in place, which supports innovation and business transformation.
In other words, businesses need a Cloud-based ERP software, which drives operational efficiency, innovation, and transformation by ensuring the flow of, and access to, accurate and up-to-date data within the system at any given time.
Sensing these benefits, more and more businesses are likely to move their core business functions to Cloud-based ERP system in the due course.
However, it is not an easy decision to make for the top management.
The Chief Executive Officers (CEOs) know that this switch demands thorough consideration of all the aspects of the business, strategic planning, and sound analysis.
And thus, they look to seek answers to certain essential questions about Cloud-based ERP software before making up their mind on the big move. Let’s take a look at seven of those questions here:
Question 1: Does the Cloud ERP we are seeking offer best practices that may help us overcome the business challenges, and achieve our business goals?
Pointer: The CEOs must understand that their businesses may have had a particular style of functioning till date.
But with growth in sight, they might have to change the way they run their business, as the current way of working may not yield the desired results.
So, it is important to look for a solution that offers global best practices that help their business overcome the existing challenges, and achieve the goals such as improved efficiency, greater operational transparency, streamlined processes, increased productivity, and reduced cost.
Question 2: What are the credentials of the Cloud ERP vendor? Does he have a proven track record, and can he be relied upon for continued support and services for a long term?
Pointer: This is an extremely important question, as it can virtually make or break your ERP implementation.
The CEOs must do thorough analysis of the potential ERP vendors before shortlisting them.
The ones with a track record of exceptional technical as well as customer service, good past performance, solid financial background, product road map for next few years, and unwavering commitment towards the existing and new customers, as well as towards investing in and improving their ERP offerings in future, should be shortlisted.
Question 3: Is the solution scalable and extensible to company growth?
Pointer: The CEOs must check whether the Cloud-based ERP solutions they are considering for their business are scalable and extensible.
Scalable, so that the solution can be scaled up in future to accommodate growth, and extensible, so that they can add anything to their system in future.
The answer to this question lets the CEOs know whether or not the solution will support their operations even if the company grows multi folds in next few years, and also whether or not they can consider the solution as one for the long run.
Question 4: Is the solution flexible enough to be easily configured if needed?
Pointer: In today’s business environment, businesses need to be fully ready to grab any opportunity for growth.
And if that opportunity requires adopting a new business model, so be it; businesses need to keep pace with the changing times.
In such scenario, a flexible IT infrastructure comprising a good Cloud-based ERP software, comes in handy. It enables rapid configuration of new business processes to support innovation.
So, this is one question CEOs must not shy away from asking.
Question 5: Can it be integrated with the other applications easily?
Pointer: In today’s competitive business landscape, it is important for businesses to have a tool that has the capability to operate in a collaborative manner.
Cloud-based ERP solutions usually have the collaborative ability, and that’s one of their biggest advantages.
They can be easily integrated with other applications, for example, say CRM. CEOs must check whether the Cloud-based ERP system they are considering can integrate with other applications easily or not.
Question 6: How secure will be the data?
Pointer: In case of Cloud-based ERP solutions, the businesses have to completely rely on the service provider’s security.
So, it is wise of the CEOs to ask a few pertinent questions such as whether their data is safe, who all have the access to it, will it be shared with the third party, etc.
The top management must scrutinize the service provider on different security parameters, and confirm with him if he will let them back-up their data on their servers or not.
Question 7: Does switching to Cloud ERP actually save money in the long run?
Pointer: Before making up their mind on a particular Cloud-based ERP software, CEOs would want to know what the Total Cost of Ownership (TCO) is.
It includes the total cost of the ERP software, implementation cost, and the cost of maintenance.
Every business operates with the objective of reducing the overall costs, and making savings wherever possible.
And to many, switching to Cloud-based ERP system is precisely a step in that direction. So, it is prudent to figure out in advance whether moving to the cloud is cheaper than owning and supporting your own servers.
To sum up:
Investing in an ERP solution is a massive decision for any business, with its far-reaching implications on every single aspect of it.
Hence, the CEOs must ask the aforementioned questions while selecting a Cloud ERP software, so as to make the correct decision of picking a solution that offers best practices, is scalable, flexible, & light on pocket, easy-to-integrate, provides data security, and helps achieve the business goals.
If you’re looking for an appropriate Cloud-based ERP system, you may want to check out BatchMaster ERP on cloud, precisely the cloud solution your business needs. Feel free to contact us if you need any other help.