What is cloud ERP software?

       Cloud ERP is enterprise resource planning software that can be accessed over the Internet. As the IT backbone or “brains” of a business, cloud enterprise resource planning software provides advanced functionality for all of an organization’s core processes.

           Hosted on a provider’s cloud computing platform, cloud ERP is typically delivered “as a service” (“software-as-a-service”, or SaaS ERP). Customers do not own the software but instead rent it on an annual or monthly subscription basis. There are no upfront hardware costs – and the provider takes care of application maintenance, updates and innovations, data storage, and security.

There are two types of ERP System

1. cloud ERP System

2. On-premise ERP System

Cloud ERP vs On-premise ERP

      Cloud ERP, or SaaS ERP, is hosted on your provider’s cloud platform and managed by your IT team. On-premises ERP, on the other hand, is installed on your own hardware and servers and managed by your IT team or a partner.

      Companies are adopting the cloud more and more. In a  recent survey, 63% of companies chose cloud enterprise resource planning software over on-premise ERP.  

Why choose a Cloud ERP Solutions For Small Business

      Cloud ERP solutions for small business, its advanced features, and flexibility make it an essential ingredient for success in the digital age. Historically, ERP systems have provided tremendous value to organizations, helping them drive productivity and gain insights. But with digitization, the whole world – and the competition – has changed. On-premise ERP systems simply can’t keep up. They are difficult to adapt to permanent change. Designed for a cleaner environment, most legacy ERP systems fail to deliver the speed, flexibility, and insights businesses need to operate in new, more agile ways.

     Today’s customers expect faster product and service delivery, continuous product and service improvements, increased reliability, and lower costs. Companies often need to look beyond their walls to ensure the best value for customers. They work virtually with a wide range of partners – for production, product distribution, sales management, service, support, and even core business processes. As a result, they need software that not only helps them manage increasingly complex internal processes but also helps them manage business networks around the world. This is impossible without an ERP in the cloud.

Benefits of cloud ERP

1. Continuous Business Innovation: Many companies are moving to cloud ERP software to improve operations, change outdated business models and processes, and introduce new capabilities that support best business practices. Cloud enterprise resource planning (ERP) improves and accelerates not only financial and accounting practices, but also business operations throughout the enterprise and can even extend beyond trading partners and networks.
2. Lower Costs:  With a subscription service, there is no initial purchase cost for ERP hardware or software. Ongoing IT and related staff costs are also lower since upgrade and maintenance costs are handled by the vendor. The cost savings can be significant – particularly with an ERP implementation in the public cloud.
3. Fast and Flexible implementation – Getting a cloud ERP system up and running is much faster, as your SaaS provider manages the hardware and software installations and provides dedicated staff with data center management experience. Just like consumer mobile apps, cloud enterprise resource planning (ERP) business apps can be easily configured. The intuitive user interface makes learning the app quick and easy, speeding up time to productivity and enabling businesses to seize opportunities.
4. Simplicity and Automation: With modern ERP in the cloud, companies can consolidate sealed legacy applications, standardize and integrate all existing and new applications, and eliminate the use of disconnected systems. They can also simplify workflows, intelligently automate processes, and drive new efficiencies across the business.
5. New Functionality:  Cloud enterprise resource planning (ERP) providers offer all companies that use their software new functionality and application enhancements through ongoing updates as well as larger annual releases. Since updates are delivered to everyone at once, you never miss an opportunity while waiting for a vendor to update your custom ERP system. Also, if customers identify similar requirements, they can request changes from the ERP vendor. As a result, the overall pace of innovation is more responsive – and much faster. 
6. Better Insights:  Modern cloud enterprise resource planning (ERP) systems are designed to unlock big data, so you can access the information hidden within large and complex data sets. And while legacy ERP systems provide reporting tools, they don’t offer the integrated, real-time analytics available through the cloud—and these are the key to better decision-making. The ability to see trends, anticipate changes, and automate processes improves resource utilization and greatly improves customer service.  
7. Support for Mobile ERP:  Companies must now provide access to information to employees, subcontractors, suppliers, and customers – anytime, anywhere. This requires secure support for mobile devices. Mobile capabilities are built into SaaS ERP products rather than being added as a later add-on. Modern user interfaces (UIs) with a design capable of adapting to mobile screens are key for users.
8. Access to New Technologies:  Smart technologies are being incorporated into modern SaaS ERP solutions to improve productivity. These technologies include artificial intelligence (AI), machine learning, and the Internet of Things (IoT), which allow devices such as machines or sensors to feed data to applications through the cloud to obtain up-to-date information about their state.    
9. Deeper Security:  With cloud ERP systems, security, data backups, and disaster recovery are handled by full-time expert security professionals. Cloud providers often have the best data security available; security breaches in large and medium-sized companies occur mainly with on-premise systems. Because cloud ERP systems are more comprehensive, connected, and collaborative, they avoid vulnerability at integration points and reduce the risks associated with a multi-vendor environment. 
10. Scalability: Cloud ERP is built to help scale operations at your company. Cloud ERP enables your team and partners to access information globally. With Epicor Cloud ERP, you also benefit from a world-class system and security monitoring that allows you to grow quickly without having to think about whether the information is secure.

Conclusion

             There are many benefits that cloud ERP software can bring to a growing business. As you continue to expand your operations, you need innovative and reliable tools that can help you increase efficiencies, improve accessibility, save costs, and drive business growth for your company.