Did you know the ERP market is expected to https://hintandthink.com/ by the year 2026? Are you considering investing in a cloud ERP software program for your business?
If so, then you’re in the right place. Keep reading to learn everything you need to know to choose the right ERP for your unique business needs.
Table of Contents
What Is Cloud ERP Software?
Before we dive into the right solutions for your business let’s make sure we’re all on the same page. You might have heard the term ERP thrown around in meetings, but what does it include and how can it help you?
ERP, or enterprise resource planning, is the system or software program your business uses to manage your everyday activities or operations. This includes everything from your accounting to your supply chain management, risk management, and project management.
Historically, each department might have used its own business software program to track its work, data, and results. However, in today’s fast-moving, and ever-changing, business environment you need a single source of data to track all your business processes.
This is where ERP can help you. And when you use a cloud-based system you can truly make your team mobile and agile. A quality cloud ERP software is the best tool you can use to plan, track, and review your day-to-day operations and processes.
Features to Look For in Your ERP Software
When it comes to your process management, you need to have a software program that tracks all your core business processes in one place. You can no longer afford to keep your operational managers siloed away from each other and rely on updates through email or meetings.
The best way to choose the right ERP software for your business is to look at your unique ERP uses and needs. What core processes do you need to track? Some key aspects to look at and compare when choosing your ERP program include:
Cost
One of the major benefits of migrating to an ERP program is that you reduce costs by using one program that covers all your operations. In addition to saving costs on your operational budget, a cloud-based program saves money with your initial startup costs. You don’t need to purchase a large on-site program, with a cloud-based program you can start with a low monthly cost.
Security
Just as with any other cloud-based program, security is paramount to choosing the right solution for your business. Before you choose your ERP software be sure to check their security protocols. Luckily, reputable cloud-based providers can offer a higher level of encryption security than many individual companies can.
Scalability
As your business grows you need to ensure that your software program can grow with you. But that also doesn’t mean you need access to every feature from the beginning. Look for a program that you can use now and expand later as you scale your business.
Integration
Before you invest in a new software program, be sure it can integrate with your current tech stack. When your ERP and CRM software programs can communicate and work seamlessly together you’ll be able to provide better visibility for both your team and your customers.
Reporting
Your ERP not only facilitates your business’ processes but also can show you at a glance where you stand with productivity and reaching your goals. Never again wonder if you’ll hit your sales numbers or if your supplies will reach your manufacturing plant on time. As you compare ERP software programs, be sure you’ll get the reports you need to grow and scale your business year over year.
These five features will give you a robust program to improve operations over time. One example of an ERP program that gives you each of these features is the IFS ERP system. Any business that manages, builds, distributes, or maintains products, assets, or services can benefit from a program such as this.
Make the Right Decision for Your Business
As you can see a quality cloud ERP software program can revolutionize your business. Stop juggling several different platforms and tracking systems. And start building a central source of truth for all your operational departments.
For more great information on this and other topics, check out the rest of our blog.