The enterprise resource planning solution is widely used to streamline business processes, enhance, and improve visibility in business areas such as project management, accounting and manufacturing. Ever-changing business demands and security problems have side-lined the implementation of the on-premise ERP system.
A revolution in cloud computing has changed the dependency for on-premise ERPs by giving birth to a less expensive and more effective solution called Cloud ERP. It opened the door of opportunity for mid-market businesses looking for a cost-effective solution to their on-premise ERP. Cloud ERP provides a scalable platform with a large number of features and integrations.
Cloud-based ERP solutions help mid-market organizations to focus on financial efficiency and data security modernization while reducing the IT setup costs.
Most mid-market organizations still rely on spreadsheets which is not an efficient solution. Manual spreadsheet documentation takes too much time and Cloud ERP solutions provide an improved accounting efficiency through financial reporting and dashboards available within the platform. Financial auditors can access the on-demand reporting and real-time insights accessible through ERP financial dashboards.
IT cost savings:
Every Mid-market enterprise cuts IT costs by moving from an on-premise ERP to a cloud ERP platform. On-premise ERP systems need the implementation of custom codes or scripts, costly hardware upgrades and software updates, frequent backups, and higher levels of data protection requirements. In the cloud ERP system, you can have automatic updates with built-in advanced security features. With a cloud ERP, system information can be accessed at any time of day of the year from any location.
Integrated financial management features:
The Cloud ERP offers both a core financials suite and advanced functionalities for businesses. Back office operations can be done easily with the help of integrated financial management features. When you need the best solution for invoice management, collaboration processes, productivity management and faster decision making, cloud ERP offers you a wide range of features.