Enterprise Resource Planning (ERP): what’s in it for your business, and why now? Once a tool reserved for complex global organisations, cloud ERP solutions are now widely adopted by SMEs large and small seeking to streamline operations and secure 360-degree visibility in a hybrid-working world.
From tech firms ‘in a hurry’ for success, to , to professional services teams keen to work collaboratively; cloud ERP software delivers a scalable solution that grows with any business. Now a more affordable investment, those who choose to adopt it early, reapthe rewards early – with swift integration helping leaders drive change when it matters the most.
So, better late than never? While cloud ERP implementation can empower SMEs at any stage of the journey, 63 per cent of early adopters – of the Oracle NetSuite solution – have reported benefits thanks to cost-saving elements only possible from the outset. With later adoption proving less cost and time–efficient due to increased scope and head count, it pays to think ahead. Therefore, rather than waiting until processes become a struggle to manage, ERP adoption could save your business time and money – both refining and future proofing key operations across the board.
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It saves you precious time
For businesses sector-wide, time is a commodity – particularly when it comes to the implementation and configuration of new systems. The smaller the business, the more rapid the design and implementation process, meaning firms can enjoy the benefits sooner. Any reputable solution provider will ensure training is a priority too so businesses can acclimatise faster and there should be no disruption to ‘business as usual’ activities.
An impressive 75-90 per cent of early adopters stated their finance teams achieved a faster monthly close as a result of migrating to an integrated ERP solution. And just consider the time that can be gained from the elimination of resource-sapping manual tasks, having full visibility over supply chains, and viewing real-time performance monitoring with a click. Improved 360-degree business awareness and actionable insights are also made possible through early adoption – arming business owners with up-to-the-minute intelligence to not just stay on track, but to see where to improve and how to grow. With agile decision–making key to the success of enhanced processes, cloud ERP supports leaders striving to meet the always-on, ever-changing expectations of customers.
It’s cost-effective from the get-go
For the majority of SMEs, early adoption of cloud ERP systems like NetSuite leads to savings in the long-term – but also in the short-term when cashflow is key. During the set-up phase for example, businesses need only pay out for the functionality and number of logins required – crucially keeping the cost low. With savings already made through prompt adoption, reduced complexity (and less data migration) during the implementation stage can also help businesses avoid costs traditionally associated with such maintenance.
With less internal IT resource required and thanks to automatic functionality and security updates, leaders can rest assured that they are always seeing the most up-to-date version and making use of state-of-the-art features, such as AI-driven tasks. When compared with on-premises cost, the total cost of ownership (TCO) was also reported as 77 per cent less, as detailed in a Gartner report on the ‘End of Software’: “Customers can spend up to four times the cost of their software license per year to own and manage their applications.”
The early bird catches the worm
Offering a flexible and tailored approach to holistic business management, solutions have evolved to become more versatile, scalable, and affordable than ever before.A worthwhile outlay for any business, cloud ERP systems can prove to be particularly valuable to start-ups keen to get ahead and achieve their true potential fast in the face of uncertainty. In a fast-moving world of unknowns, early adopters can utilise the opportunity to focus on their trajectory early in the business lifecycle, with a solution that evolves with them. Featuring a myriad of time and cost-saving benefits for users working from any location with wi-fi, cloud ERP facilitates everyday efficiencies – through integration, automation and artificial intelligence (AI) – that were unimaginable just a few years ago. Ultimately, it is these efficiencies that can lead to future growth – with the power to make a real difference to the bottom line.
is the Sales and Marketing Director of , a UK-based technology consultancy offering Oracle NetSuite and Microsoft Dynamics 365 solutions. Ian has over 30 years of experience in ERP and CRM implementations. Prior to forming BrightBridge, Ian worked for a major US IT corporation, where he acquired a depth of knowledge around time saving efficiencies through technological integration and automation.