During the current pandemic, businesses have undoubtedly learned innovative ways to meet the new business challenges of seamless supply chains, management, and customer support with remote working. It’s almost impossible for companies to use outdated technology and databases with a complete or partial task force working from home or anywhere in the world.
That’s why cloud ERP solutions play a significant role in keeping the business aligned while allowing the workforce to share files, reports, and information with other teams. ERP solutions such as NetSuite assists in improving remote customer support strategies.
Read along to learn about the benefits of using cloud ERP solutions to run a successful business.
The impact of Cloud Enterprise Resource Planning (ERP) technology is undeniable. Moreover, advanced machine learning algorithms and artificial intelligence facilitate decision-making and enhance customer support.
From automation to data protection, Cloud ERP solution is a one-for-all and all-for-one software solution that offers flexibility and data integration. If you want to implement agility in your organization, you must deploy state-of-the-art cloud ERP solutions.
A cloud-based ERP solution such as NetSuite is housed on a secure and remote network of servers, offering complete ownership, administrative rights, and access to the companies.
It means a cloud ERP solution is indeed cost-effective as compared to the on-premise ERP system that requires 24/7 hardware and software support. Furthermore, a cloud ERP solution offers flexibility and scalability to cater to more customer’s data.
The innovative cloud ERP solution is a modern technology that supports business agility in this digital era. Agility is a relatively new term that refers to the organizations’ ability to adapt to evolving business needs.
The organizations can’t spend most of the time manually entering the data and further process it to make insightful reports. Instead, an ERP solution automates the entire task of gathering the data, structuring it, and offering valuable insights in the form of graphs.
Another advantage of using a cloud-based ERP solution such as NetSuite is the data migration from outdated tools. The companies can migrate their data in a short period within weeks to the new ERP solution.
A cloud ERP solution is perfect for both large and small-to-medium businesses, courtesy of its cost-effectiveness. Unfortunately, an on-premise ERP system isn’t just expensive but also complex and difficult to manage.
Furthermore, it’s a real challenge to scale an on-premise ERP software that requires many Capex. That’s why a cloud solution is an ultimate answer to reduce both the capital and operational cost of scaling the existing capacity.
The NetSuite ERP significantly reduces the administrative cost by integrating the front end and back end. Moreover, businesses no longer need to maintain IT infrastructure, courtesy of cloud services.
Using a cloud-based ERP solution means you no longer need to use third-party reporting solutions. Instead, it comes with built-in analytics and pre-defined reporting templates allowing the users to present useful information within no time.
For instance, Oracle offers a one-schema database structure on which all the applications are deployed. This way, the teams can use the analytical capabilities of the ERP software to prepare reports.
Many cloud ERP solutions come with easy-to-use and intuitive dashboards and control panels, allowing the existing employees to use them conveniently.
Companies no longer need to worry about cybercriminals hacking their confidential data. It’s because the cloud ERP solution comes with high-grade protection and security protocols. Moreover, it encrypts the data and offers customizable administrative rights to different teams.
The employees working from home no longer need to worry about the lag or latency to fetch the data from the cloud. It’s because modern cloud ERP solutions come with a modern user interface and flexible workflows that enhance the overall productivity of the employees.
The ERP software such as NetSuite gathers data of all the teams, including inventory, sales, production, order details, and customer information. Moreover, the relevant teams can fetch the data whenever required. Access to real-time data in NetSuite ERP eliminates the use of distributed spreadsheets.
Different teams share the data online while working on the same projects and keep everyone updated about the project progress. This way, the businesses can reduce both the cost and delays and improve the overall efficiency.
For instance, NetSuite enables organizations to update different team accounts. Once the accounts are updated, all the relevant departments, such as accounting, sales, and warehouse, are aware, and the business runs smoothly. In other words, the data is unified on the cloud to assist the higher management in making timely decisions.
The organizations can manage the cash flow using the cloud ERP solution by integrating invoices, budgets, and bank balances. It provides a comprehensive picture of the cash flow to the higher management.
Cloud ERP Solutions like NetSuite makes the data accessible to all the on-site, off-site, and travelling employees. This way, the employees can view reports, analyze and validate data on desktops, tablets, laptops, and smartphones.
The cloud ERP solutions ensure the accessibility of the information by different teams, irrespective of their location. It’s essentially a unified platform that stores all the business-related information.
NetSuite by Oracle is undoubtedly an advanced cloud ERP solution that offers a transparent picture of the business performance while enabling the stakeholders to make real-time decisions for business growth. In addition, it aligns all the business applications and consolidates all the data from the different departments on the cloud.