The benefits of Cloud ERP for your business
The Cloud is particularly valuable to medium-sized businesses because it can provide access to ERP at a reasonable price without a substantial upfront expenditure for hardware and software.
In this blog we look at 6 benefits of moving to the cloud.
The many upsides to the cloud
Chances are that you already know the benefits of Enterprise Resource Planning (ERP) software (if you don’t, click here>). By pulling all of your information into one system, an ERP system basically allows you to automate and improve processes across your business.
In the olden days, licenses for ERP had to be purchased outright and installed on an internal server, like MYOB Exo. To access the software, team members needed to be connected to the server, which generally meant they had to be on site.
Cloud software on the other hand, is hosted by the provider instead. Businesses pay an ongoing subscription cost, then access the software from any internet-capable device. While the only technical difference is down to the hosting, the practicalities of the two options mean cloud often comes with a number of benefits that could be key in putting you ahead of the competition.
Accessible from anywhere
Rather than being tied to the office, cloud hosting lets your team access your ERP system from any internet-connected device. As flexible working becomes the norm, this has become mission-critical functionality.
Automatic upgrades and bug fixes
As time and technology move on, using up-to-date software is crucial to your success. With cloud ERP, upgrades happen automatically, usually within your monthly subscription. This means you are always getting the full benefit of the platform.
If you need to rapidly scale up to meet seasonal demand or take growth opportunities, cloud ERP is a must-have. It lets you add users instantly without any loss of performance, where on-premises hosting means you are limited by the size and capacity of your server. Even if you are not dealing with lumpy demand, or rapid growth, establishing cloud ERP now means you’ve future proofed your business -the software scales when your business does.
Less downtime, and faster disaster recover
Good cloud software is backed by a team and processes dedicated to keeping it up and running. It will often have far more built-in redundancy and consistent backups than most on-site servers. That means you avoid catastrophic loss of data, significantly reduce downtime and get back up and running if disaster strikes.
While some high-performance servers can deliver exceptional speed, most businesses cannot afford to regularly update and maintain such equipment. It means cloud systems are the better option and far faster to use.
No costly equipment
While on-site hosting does have some upsides, there is no denying it’s the more expensive option. On top of the upfront cost of buying a software license, you will also need a server and pay to have it set up, and then regularly maintained, upgraded and backed up. After a few years, you may need to invest more money to buy software upgrades. Cloud software eliminates those expenses. Rather than paying upfront for the license, you will generally pay a subscription fee, which will include hosting and upgrades.
Heading to the cloud with MYOB Advanced
If the COVID-19 pandemic has shown us anything, it’s that businesses need to be agile and flexible enough to rapidly respond to any disasters that may come in the future. For Australian businesses, this has seen the rise of the work-from-home workforce – which has been facilitated by cloud technology.
So whether you are looking to get more mobile or support your fast growth, moving to a Cloud ERP solution could be your next step in your business growth trajectory. A Cloud ERP solution will significantly reduce your upfront and ongoing costs compared with on-premise systems, while improving access, scalability, security and speed.
This is where MYOB Advanced steps in. An end-to-end ERP solution that gives you everything you need to manage your business in a single cloud platform – with the ability to scale up as your business grows. It’s designed to give your business the tools needed to succeed in a fast-pace, rapidly evolving world.
Think Cloud ERP could be right for your business?
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