Today’s dynamic business environment keeps evolving at a brisk pace. The technology is moving too fast for the businesses to keep up.
The ones that actually manage to get hold of it, take the lead. Others simply play the catching up game.
For them, there are challenges galore, as they need to grow and evolve in order to beat the competition.
To grow, they need to create new opportunities and proactively deal with the fickle market conditions.
Simply put, they need to innovate and transform their business so as to be ready to take on the challenges presented by the changing business environment.
This, meanwhile, can’t be done with the help of outdated software infrastructure. Businesses need a modern and flexible IT set-up, which supports innovation and business transformation.
A Cloud-based ERP software is precisely that solution. It can standardize your core business operations on an easily configurable platform, and ensure that all the applications have access to accurate and up-to-date financial as well as operational data, thus providing a solid framework for operational efficiency, innovation, and transformation.
This blog takes you through six important ways how Cloud ERP does it:
Flexibility drives innovative growth
The businesses need to change with the changing times. If seeking a new opportunity for growth requires adopting a new business model, they must not shy away from it thinking they can’t achieve it with their existing IT infrastructure.
In fact they must look to update it. For ex: if a business which has predominantly been involved in selling a product directly to the end consumer thinks of going online, it requires a different, innovative approach to managing all its aspects, right from customers, to inventory.
In such a scenario, the business can’t rely on its legacy ERP software, which invariably tends to be rigid & inflexible.
Instead, it should look to move to a flexible solution like a Cloud-based ERP, which enables rapid configuration of new business processes to support innovation.
Extend your system in future
That a Cloud ERP lends scalability to your business is a known thing. It means that your business can accommodate future growth.
However, it also brings extensibility to your business, which in simple terms means that you are able to add anything to your system in the future.
For ex: if your business acquires a new company, and brings on board new employees, you can ensure that they hit the ground running straightaway with Cloud-based ERP via their desktop browser or mobile devices and minimized training.
This again is in stark contrast to an on-premise ERP, which requires new hardware, software, and extensive training to bring the new employees on the same page with the existing staff.
Thus, with an ERP on Cloud, you can transform your business easily.
In addition, an ERP on Cloud is also scalable as mentioned above, which means it can be scaled up or down with changing project workloads.
In fact, software and hardware requirements are also scalable in the cloud.
Real-time visibility for transformative growth
In the era of globalization, businesses are being run from multiple locations, and thus more and more businesses feel the need for collaboration across all such locations.
For ex: you have a manufacturing unit operating somewhere in China, while the decision makers, who are sitting in Taiwan, want to have details from the shop floor.
What do you do? Wait for the day-end for reports?
A Cloud-based ERP solution is the soothing balm for your headache in such situation.
It can be accessed anytime and from anywhere with the help of internet connectivity and an internet-enabled device for accessing the data and resources updated and stored in the cloud in real-time, which means every department of your business can react instantly to changing business needs or emergencies at every step of the supply chain, no matter where it is operating from.
This way, you can redefine collaboration, remove the bottlenecks if any, meet the customer orders efficiently, and innovate as needed to keep up with the challenges.
Enhanced productivity for innovation
Mobility is the key driver of business growth. A Cloud-based ERP, delivered on mobile devices such as smart phones or tablets, allows businesses to stay up-to-date on the business productivity in a contemporary way.
For ex: by the use of various advanced technologies like geo-fence, employee tracking, IOT, etc., the business executives can have entire resource utilization related data in the palms of their hands.
They can use this vital data to make updates to it on the go to make most of the available resources be it man, machine or materials.
This ensures enhanced productivity and reduced wastage throughout the organization, thus pushing it towards innovative as well as transformative growth.
Ease of use encourages employees to innovate
Legacy ERP systems are usually complex for every employee to use, and it takes extensive training to use it for jobs like data entry, report generation, or managing production.
On the other hand, a modern & intuitive solution like Cloud ERP makes it possible for any employee to use the applications with minimal training.
All it takes is secured sign-on credentials to have instant access to the business applications and information.
For ex: an employee can update inventory using mobile devices right from the shop floor or the warehouse.
Sales orders can be created, and reports can be generated on the go. As a result, the employees can get done with their routine tasks sooner than usual, and have more time to focus on innovation.
Speed to support innovation & transformation
When the business is moving at a lightning fast speed, you need to stay at least on par, if not one step ahead.
You can’t do so with a legacy on-premise system, and need an ERP on Cloud, which brings in speed along with it.
It is fast to deploy, faster to upgrade, and even quicker to adopt. It can update multiple times a year, thus getting your business new capabilities based on the latest technologies, and the ability to outpace the competition.
An intelligent Cloud ERP brings your core business processes in line with industry-best practices, allowing you to not just produce and deliver fast enough to meet the market demand, but also to innovate and adopt new models of growth.
Moreover, real-time analytics allow you to make informed decisions much faster. To sum up in one word, a Cloud-based ERP makes your business ‘agile’, and opens up the doors for innovation and transformation.
We saw how a Cloud ERP system can rapidly innovate & transform a business. One such software is the BatchMaster ERP on Cloud.
A web-based Cloud ERP software built specifically for the process manufacturers, it brings to their business unprecedented transparency with visibility from the plant floor to the top floor, and adresses challenges related to traceability, batch recipe management, inventory optimization, automated compliance and quality management.