Covering the essentials of business intelligence, explore the features & functions for an overview.
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Only a few years ago, cloud computing was an experimental technology that many businesses were hesitant to adopt. Now, with the rise of remote team members, the need for mobile access across the globe, security concerns, and other challenges of the changing business landscape, the cloud is a practical necessity for many organizations.
As cloud computing technology matures, it’s able to take on more demanding applications, including enterprise resource planning (ERP). Cloud-based ERP solutions like Oracle Cloud ERP Applications and NetSuite now provide a virtually limitless range of advantages and opportunities for organizations of all sizes.
Security and Mobile Access
One of the initial concerns with cloud-based applications is the misconception that the cloud doesn’t have the stability or security of an on-premises ERP system. Modern, cloud-based ERP systems offer a full suite of security tools that can compete with any on-premises system, as well as some additional advantages that legacy systems don’t have.
Some cloud-based ERP systems offer automatic, simultaneous, system-wide updates that address security flaws on their own. There are also several layers of fail-safe contingencies and backups for further protection. Finally, many cloud applications offer a team of cloud security professionals who monitor the applications.
Another significant benefit of cloud-based ERP is mobile access. With an ERP application, employees can access centralized data across the organization from a mobile device, without the decentralized barriers that often impede efficiency. Employees can also access information remotely and on-demand, allowing for an expanded workforce, more collaboration, and more efficiency.
IT Maintenance, Backup, and Recovery
Cloud-based ERP systems offer many benefits over legacy systems, including automatic updates, less in-house maintenance, and robust backup and disaster recovery. Cloud-based ERP systems are easy to scale because they undergo automated, widespread updates. These applications may include remote maintenance as well, which frees your in-house IT team to handle infrastructure planning and governance.
Finally, cloud-based ERP systems offer remote backup and recovery as part of the subscription or an add-on, giving you automatic backups at scheduled times. You can also manually back up and restore data easily.
Competitive businesses looking for agility can adapt and scale easily with a modern, cloud-based ERP system. For a small company, adopting the necessary functions with a cloud-based ERP application has much lower upfront costs than an on-premise solution. As the business grows, new tools, additions, or capabilities can be added seamlessly, allowing the organization to scale easily. Many cloud-based solutions have a flexible interface to integrate with other cloud-based applications, expanding the options and capabilities even further.
IT Cost Reduction
Small and medium businesses often lack the capital to invest in massive and sophisticated on-premise technologies and their ongoing costs. Cloud-based ERP systems allow smaller businesses to invest in high-quality solutions and save in IT costs. These systems have lower software costs due to shared resources like data storage and vendor support, resulting in more affordable pricing models.
They’re also accessible through any device or browser, so you won’t need to invest in new computers, new hardware, or IT labor to get the system up and running. Because the vendor typically provides maintenance and support, tasks like training, troubleshooting, updating, and more can be handled by them, freeing the in-house IT team to devote time to business-critical tasks.
Get Started With Orbit Reporting & Analytics
If you’re considering the switch to cloud-based ERP like Oracle Cloud ERP Financials, Oracle Cloud ERP HCM, NetSuite for your business, there’s no better time. As data volume grows, agile and scalable technology solutions are a necessity. With Orbit Reporting & Analytics, you can seamlessly integrate your reporting and analytics solutions with the most popular business applications, including Oracle, NetSuite, and Taleo. Request your demo today and set your business up for success!