ERP, or Enterprise Resource Planning, was initially designed to help enterprises and companies manage and automate multiple core business operations across an organization. This software solution can optimize day-to-day business functionalities, including finances, accounting, sales, manufacturing, human resources, etc. More than 20 years ago, Oracle cloud ERP was introduced, and this presentation changed everything. Such a cloud-based solution is considered one the best out-to-date software for businesses. Today, we’ll try to find out what is cloud ERP and what benefits this software provides.
What is Oracle ERP cloud?
Enterprises need to know what is Oracle cloud ETP to take advantage of this out-to-date elaboration. Cloud ERP is typically associated with a system that includes ERP software and tools hosted by a third-party vendor.
Once a company deploys ERP in a cloud, they can release burdensome management and maintenance responsibilities and transfer them to a cloud provider. Apart from that, vendors are also responsible for system upgrades, data storage, innovation implementation, and security. With the cloud-based ERP solution, a customer doesn’t own the software itself but instead rents it monthly or yearly subscription.
The main benefits of cloud-based Enterprise Resource Planning
1. Low operational costs
One of the essential pros of cloud ERP is the reduced costs compared to a traditional on-premises ERP system. Suppose an enterprise invests in traditional software. In that case, they are likely to spend significant amounts of money for server purchasing, software implementation, elaborating on the database, security, further maintenance, energy payments, and others. At the same time, a cloud-based ERP solution can offer lower operating costs since a cloud vendor takes care of any maintenance, security, and system upgrading.
2. Painless implementation
Another reason why cloud ERP systems are vital for multiple businesses is easy software implementation in the virtual cloud environment. Unlike the on-premises ERP option, a cloud-based one is more reliable and ensures better data available from any location with an Internet connection. On the other hand, once you opt for a traditional ERP software, you need to hire IT staff and its training, select and purchase suitable software, implement a security system, get access to important tools, etc.
3. Better accessibility
Compared to other ERP solutions, a good feature of a cloud-based ERP remains optimized usability and mobility. Since Enterprise Resource Planning offers access via the cloud environment, employees can take advantage of data available from any remote location with an Internet connection. This is the first pledge of improved productivity across a company and an excellent opportunity to build a more agile team of workers.
4. Improved scalability
With cloud ERP deployment, businesses can no longer worry about lacking resources for future growth. Cloud-based ERP solutions offer easier business scaling and adding required hardware if needed. Apart from that, business owners don’t need to purchase new resources since all the units for further growth are available online.