By: Brian Rodriguez
Digital transformation has already begun as early as the late 1990’s. Businesses were gradually shifting to ERP but the need was not as profound. The onset of the COVID-19 pandemic has made the impact to cause industries to make drastic changes. Organizations started to focus more on cloud ERP systems amid the evolution.
Cloud ERP systems allow businesses to move forward with these changes. They allow companies to make smart business decisions so they can continue to serve customers. Here are key points where organizations can take advantage of cloud ERP systems:
1. Cloud ERP systems help businesses to efficiently track business processes.
Custom tools are streamlined to manage different areas while consolidating data to give an overview. ERP systems integrate supply chains, asset management, inventory & workforce data. This gives companies a big picture that enables them to make better decisions.
2. Cloud ERP systems allow companies to shift to remote collaborations.
Since company data & ERP tools are in the cloud, organizations can easily adapt remote work arrangements. Remote teams can access anytime & anywhere even on mobile. According to Global Workspace Analytics in 2016, 25% of the US workforce already teleworks at some point. With the pandemic, more companies started to shift to remote work arrangements. Cloud ERP systems help to convert most positions compatible with remote work. This makes the transition easier for companies.
3. Cloud ERP systems provide organizations with more control to mitigate risks.
Advanced tools can furnish real-time data analyses allowing stakeholders to make assessments. ERP systems enable businesses to manage risks more effectively.
4. Cloud ERP systems can prepare businesses to changes in consumer behavior post-pandemic.
US Chamber of Commerce & McGill both cited a possible surge in demands & buyer behavior changes. Manufacturers will be faced with challenges to keep up with the trend. ERP systems allow companies to have a better inventory of materials, assets, spending & products. This can help them plan smarter & change processes where needed.
5. Cloud ERP systems can make the transition of businesses easier & more cost-effective.
Transformations need not be expensive and tedious. Hardware & software investments are kept at a minimum since the ERP system & company data reside in the cloud. This helps organizations to make the transition faster. Operating costs are also more manageable since cloud ERP systems are usually paid on a subscription basis. This already includes maintenance costs & updates which, in the long run, give better savings.
The COVID-19 pandemic has brought realizations in the economic landscape that require actions. Businesses are forced to adapt to sudden changes to survive. Cloud ERP systems are one of the important things companies should consider to keep up. They not only allow companies to adjust to the transformation, cloud ERP systems can also allow companies to thrive amid the crisis.