Nowadays, digital transformation has become a necessity more than a trend to catch up on. With more and more companies redesigning their positioning strategies, digital transformation is going to be in the game for a long haul. Of all, the cloud is the most dominating part acting as a key driver of the entire process. Emerging technologies like Artificial Intelligence, Internet of Things (IoT), Big Data, and Machine Learning are encouraging real-time working, paperless transactions, and more informed decisions to drive growth and profitability.
Some astonishing statistics from last year demonstrated that 60% of companies store their official data on cloud while 90% of companies use some type of cloud services. Cloud is an alternative answer to storing data on a physical address. In order to gain more flexibility and save costs, companies prefer to cloud servers.
Alternatively, Enterprise Resource Planning (ERP) software helps organizations collaborate multiple departments onto a single platform to reap operational benefits and increase profitability. When companies have multiple departments dealing with a similar task, there is a possibility that the traditional style of communication might not be the ideal approach. There is a huge plausibility of delays and information getting lost. Unlike when using ERP, multiple departments can use a single software to update their activities on a particular task without any hassle. This is then visible to all the responsible participants without having to literally communicate through traditional mediums, which are more time-consuming. Additionally, ERP automates companies’ finances, supply chain, and resource management to allow excess time to focus on more important things.
Cloud ERP enables organizations to host their data on a virtual server which could be either shared or dedicated. This allows saving on the extra cost involved in setting up IT infrastructure at the company premise. Also, the number of resources required to manage such an infrastructure could be utilized in more productive jobs. Obviously, it means companies can tame their operational costs, while easily managing suppliers, vendors, partners, and customers.
Digital Transformation and Cloud ERP
Cloud ERP has a very major role to play in the digital transformation. It is a complete package that companies can use to turbocharge their businesses in a 360 degree. Cloud ERP can help digital transformation for companies in the following ways:
- Drive Efficiency: Accessing customer critical data would never have been easier. Cloud ERP lets companies empower their finance, marketing, and service teams by offering real-time solutions.
- Business Intelligence: Companies can generate smart reports through in-built templates as per individual requirements.
- Accounting & Finance: Accurate and comprehensive data in regards to investments, ROI, and payables and receivables can be monitored and automated as per timelines.
- Real-Time Operations: Regardless of where your team is stationed, they can have complete access to customer data, which can be pulled out anytime, from anywhere resulting in prompt service delivery.
- Accelerate Your Business: Unparalleled mobility offered by cloud ERP allows businesses to run on the wheels.
Benefits of Cloud ERP
- Gain complete control over business
- The solution is scalable, therefore it grows as your business grows
- All the features are included in a single software
- Customizations available as per individual requirements
- Lesser inefficiencies result in higher profitability
When it comes to digital transformation, Cloud ERP is the most preferred solution companies from almost all sectors rely on. Cloud ERP offers solutions to industries operating in the following domains:
- Manufacturing
- Automotive
- Furniture
- Alcohol & Distillery
- Oil & Gas
- Chemical
- Construction
- Healthcare
- Real Estate
- Fintech
- NBFC
- Trading
- Pharma
- Retail
- Ecommerce and many more
Conclusion
Of all the components involved in digital transformation, the cloud dominates the list. Alternatively, when Enterprise Resource Planning (ERP) solutions are deployed via the cloud, they maximize the potential benefits for any organization. Cloud ERP helps in collaborating with multiple departments through a single platform to increase the efficiency of operations and profitability. The digital transformation journey with AI, Big Data, Machine Learning, and Cloud is going to draw the dynamic business landscape within the numerous sectors.
