As businesses strive for efficiency, they are increasingly turning away from on-premises technology and moving to the cloud. As testament to this shifting trend, statistics indicate that cloud ERP is forecast to grow at more than 17% between 2022 and 2028.
Cloud-based ERP solutions offer the same robust functionality as traditional ERP systems, but without the associated overheads of servers, storage and IT staff to manage and maintain the infrastructure.
With the ability to adapt to the dynamic needs of growing businesses and handle an increasing load without disruption, cloud-based ERP offers unparalleled flexibility and scalability.
Here’s how cloud-based ERP – and NetSuite in particular – can provide a reliable and robust system that will evolve as you grow and your operational needs change.
Scalability: Helping You Grow
Cloud-based ERP systems are easily scalable. When required, they provide increased resources to handle additional users, transactions and data without any decrease in performance.
Even if you grow rapidly, these systems can support you. And they are used by businesses of all sizes – from small start-ups to global enterprises. NetSuite supports 27 languages and more than 190 currencies, so it can enable you multinationally as you grow and expand into new territories.
This scalability ensures you have a more future-proofed system that will remain viable in the long term, with less risk that your software will become obsolete.
Flexibility: Allowing You to Adapt Quickly
Cloud-based ERP systems are flexible and easily customisable. With NetSuite, new features can be seamlessly integrated as required, so as you grow you might add ecommerce functionality or incorporate features from a range of SuiteApps that extend your ERP.
The inherent flexibility of cloud-based ERP systems allows for easier modifications and updates, making them ideal as your business grows and evolves. They can accommodate new business processes and can integrate seamlessly with other systems, allowing them to be tailored more readily to match your specific business requirements.
Cost-Effectiveness: Saving You Money
The cost savings of using a cloud-based ERP system as opposed to an in-house solution are excellent for companies that are looking to scale.
Scalability makes cloud-based ERP more cost-effective, as you only need to pay for what you use. There’s no heavy, upfront capital investment needed to purchase hardware. Instead, you pay for what you use and can scale up as needed.
There are no unpredictable operational costs, either. Cloud-based systems typically operate on a subscription model, so you always know how much you will be paying.
Operating expenses are lower compared with traditional on-premises ERP systems. The responsibility for system maintenance, updates and upgrades falls to the provider, eliminating the need for significant in-house IT resources.
Security: Keeping Your Business Data Safe
One of the principal advantages of cloud-based ERP systems is that they offer enhanced cyber security. In a world where data breaches are increasingly common, cloud solutions provide your business with robust defences.
They use advanced data encryption protocols that protects your data from hackers. Plus,
comprehensive access controls mean that only authorised staff can retrieve certain data or use specific features, which reduces your risk of internal threats and data leaks.
Cloud software is regularly updated and patched, giving you a high level of system security, without any operational downtime. NetSuite is also appreciably enhanced twice a year with significant upgrades.
Providers also have robust disaster recovery plans in place. Your data is regularly backed up and can be quickly restored, ensuring minimal business disruption.
Mobility: Access Your ERP System from Anywhere
Companies working on a growth trajectory cannot afford to be tethered to traditional on-premises ERP systems. The ability to access your ERP system from anywhere, at any time, is one of the many benefits of a cloud-based ERP solution like NetSuite.
This provides you with round-the-clock accessibility, regardless of your location. As long as they have a browser and an internet connection, your staff can access your ERP system. This ensures the smooth running of your business and does not put you at risk of disruptions due to your system being unavailable.
You are also not restricted by geographical locations or time zones. Your team can access critical business data and work from anywhere, ensuring continuity of business processes.
Employees can work from home, while they are away on business trips or even during their commute. This accessibility enables you to grow more easily, especially if you want to use remote working or employ staff across multiple locations.
Collaboration: Work Together More Efficiently
With a cloud-based ERP system, all your business data is stored in a central, accessible location. This means that team members from across the business will always be using the same information.
So, if someone in sales accesses a customer record, it may have just been updated by someone in marketing. But they will be using the correct information. There’s no need to download data from one system before importing it into another. Your business data is always up to date and is immediately visible to everyone that is using the ERP system.
This reduces any errors or miscommunication and helps teams to collaborate. There is greater consistency across your departments, which helps engender more efficient cross-company collaboration.
Real-Time Data: Make Better Decisions
Cloud-based ERP solutions store all your business data centrally and you have access to information that is updated in real time. This can significantly enhance your decision-making processes. You and your management team can swiftly make informed decisions using the visibility provided by your ERP system.
By centralising and consolidating your data, cloud-based ERP solutions like NetSuite streamline your data analytics processes. You can generate comprehensive reports and insights with just a few clicks, which assists your strategic planning and forecasting.
Choosing the Right Cloud-based ERP Solution
Cloud-based ERP solutions have the potential to drive your business growth. They offer advantages that provide a solid foundation upon which your business can scale and evolve.
If you are ready to leverage the power of cloud-based ERP solutions to drive your business growth, take a look at NetSuite. It will redefine the way your business operates and provide you with the scalability, flexibility and cost-effectiveness you need to quickly adapt to changing business environments and to grow and prosper.
Contact us for a free consultation or a tailored quote from one of our certified NetSuite consultants.