The various moving parts of a business make it inherently complex. Decisions are constantly being made left and right. Without the appropriate tools, results could go all sorts of ways as teams couldn’t act in unison without seeing the big picture within the organization.
This dilemma is where enterprise resource planning (ERP) comes into play, improving the coordination and communication across teams. ERP software integrates your company’s data and processes within a single system, such that all managers and employees can make sound decisions to move the business forward at every opportunity.
In choosing an ERP system for your business, you must consider the speed at which changes in your industry are happening every day. Unless you’re quick to adapt, business opportunities might slip out of your hands. Here, cloud ERP solutions are ideal for deploying, upgrading, and maintaining your information system without delay.
Read on to learn what components and features make for an efficient cloud-hosted ERP system.
1. Business-specific requirements
Just like other companies, your business goal must include being competitive through superior quality of products or services, exceptional customer service, and reliable suppliers, to mention a few. However, having similar business processes doesn’t mean any ERP solution used by other companies will produce the same results for your organization.
Your company may have unique processes or workflows that require specialized ERP applications rather than off-the-shelf software that has no room for customization. Since ERP has a full range of modules, you must determine which ones to integrate into your system, depending on the nature and requirements of your business.
Is your business product-oriented or service-driven? Both types will most likely need an accounting module, but the former will have more use for manufacturing and order management modules. Meanwhile, you’ll need ERP software with a reservation management module if you operate an appointment-based facility, organize events, or rent out a property.
2. Seamless data migration
Your company handles volumes of data every day—from customer information and employee records to inventory and sales—and you’ve probably invested in individual software to store and manage them. Besides being costly, maintaining data from disparate sources is not the best method for streamlining your company’s operations.
A good ERP system allows you to organize not only your freshly gathered data but all historical data, as well, in one place. Whether you’re transitioning from manual data management or on-premise ERP to automated or cloud ERP, your new system must be able to migrate data from the previous software to the latest iteration.
This feature is vital in ensuring business continuity since data is intact and readily available, as opposed to waiting for IT teams to reconfigure data from one system to another.
Every business has a short-term and long-term agenda, such as contracting a consultant in the initial phases of a project and then growing an in-house team to take over those in the pipeline. Cloud ERP systems should be designed to support your business growth strategy, regardless of the scale or complexity of work needed to reach your target.
If your chosen ERP software has limited capabilities, you may not be able to tap into the latest trends and markets, expand your offerings, or introduce innovations to your customer base. These activities require forward-looking approaches and future-ready tools.
During peak seasons, can your ERP system accommodate the bandwidth needed to transfer data from the cloud to the end user’s device and vice versa? The key is finding an ERP provider with a robust infrastructure to help you keep pace with customer demand and every stage of business growth.
4. Real-time feedback
Speaking of adapting to the speed of the digital world, cloud-hosted ERP solutions make your data analytics as up-to-date as possible.
You don’t have to wait until the end of the day to generate reports since you can track everything in real-time. Which markets are performing well or otherwise? How are pricing fluctuations affecting consumer decisions? You can then use these insights to keep the momentum going or turn things around for your business.
Through cloud ERP, you can also provide real-time updates to customers regarding the status of their orders, schedule of delivery, the exact location of their package, and so on.
5. End-user training
ERP implementation will vary from one role or department to another. For instance, an HR officer will require ERP functions or features that are different from what an IT staff needs.
Your choice ERP should account for individual system requirements by providing an overview of how to use the ERP in general business applications while also demonstrating more specific use cases for employees in various roles.
6. Disaster recovery support
Moving your ERP system to the cloud means your business data is protected from disruptions brought about by disasters or issues such as power outages, unauthorized access to your computers, and other security incidents.
Cloud ERP solutions store data backups and have data centers spread out across multiple sites so that should these events happen, your system will continue to run. All your data and processes are accessible from any location via cloud storage.
Cloud ERP as the Next Step for Your Business
As your company grows, you’ll need to optimize your ERP system through cloud deployment. From remote access to cost-efficiency and data security, cloud ERP features make it a viable solution to help you adapt to the ever-evolving business landscape.
These must-have ERP functionalities are well within your reach, courtesy of Acumatica’s cloud ERP solutions. As Yondu’s ERP partner in the Philippines, we have expert teams who will migrate your company’s data and systems to the cloud with just a few simple steps to help you get started in no time.
Request a product demo for your business!