Modern businesses need the ability to change direction quickly and frequently to ensure resilient operations. Business leaders looking to optimize productivity and efficiency are finding that legacy, on-premise systems are among the biggest obstacles to agility and resilience, especially for organizations operating globally, in multiple countries. As a result, we’re seeing an increasing shift towards cloud ERP solutions.
Why You Should Implement a Global Cloud ERP System
1. Connect Anytime, from Anywhere
With the spread of COVID-19, remote working is now a necessity for many organizations. Most on-premise systems are not configured for remote users or users from different geographies to easily access critical information in real time, leading to various inefficiencies. Modern cloud-based systems enable remote access to systems and data securely from anywhere in the world. Employees can connect at any time, from anywhere, using a single sign-on from any device.
2. Adapt Quickly to Evolving Needs
Flexible business models are essential to respond to changing market demands. Deploying a cloud-based, global ERP solution can be your pathway to business agility. Implementing cloud ERP systems in your subsidiaries gives you the flexibility to modify essential business models with ease. Employees from across the globe can get the real-time visibility into data needed to make decisions quickly. This allows your business to be flexible to change and adapt quickly to supply chain disruptions or any other market and customer demands. Your end-users might not get what they need quickly enough with an on-premise system.
3. Improve Business Resilience
Sudden and unforeseen disruptions like COVID-19 have left companies struggling to adjust their global business processes, workforces and supply chains. Supply chain disruptions, natural disasters, and other unforeseen events can all adversely impact productivity and profitability, forcing companies operating globally to rethink their business model, processes and the technology that support their operations. On-premise ERP systems tend to fall short when responding to rapid change; managing extensions and customizations is more complex, and upgrading to a new version takes a long time. By contrast, cloud ERP is updated several times per year. Modern cloud ERP systems offer advanced capabilities such as built-in AI/ML and IoT capabilities to help automate more processes and make recommendations. These capabilities free up your employees to spend less time on manual tasks and more on strategic initiatives that drive better outcomes.
4. Integrate Different Business Processes
Global businesses run a wide range of on-premise applications and when all these applications aren’t fully integrated, it can limit the value you can derive from your investments. These on-premise systems often rely on third-party solutions for different capabilities, but it’s difficult without quality, real-time finance and operational data. Disconnected legacy systems often have data quality issues. Spreadsheets or third-party applications further compound the problem and delay important decision making. With global cloud ERP platforms, you get fully integrated finance, accounting, budgeting, planning, and forecasting, along with workforce, sales and operational data – providing easy access to real-time information for effective decision making.
5. Single Source of Truth
On-premise systems collect and store massive volumes of structured and unstructured data from their global operations. These disparate systems are not suitable for modern reporting and analytics as they don’t share data between themselves and sometimes between different subsidiaries. As a result, business users have to manually extract and analyze this information – leading to limited insights. A global cloud ERP system provides your users across the globe with a single source of truth, so they can share data quickly and easily. You can generate actionable insights in real time, enabling faster, better decision making.