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Cloud is the Future of ERP Solutions: What’s your level of readiness?

There has been no dearth of headlines focusing on cloud-based enterprise solutions, including Cloud ERP. As more and more organizations across the world are shifting their ERP systems to the cloud, it is a well-established fact that the ERP of the future is in the cloud. Major players in the industry like SAP, Oracle ERP Cloud, and Microsoft Dynamic 365 Cloud ERP are offering cutting-edge, customized solutions to cater to the needs of large enterprises, SMEs, and startups.

There has been no dearth of headlines focusing on cloud-based enterprise solutions, including Cloud ERP. As more and more organizations across the world are shifting their ERP systems to the cloud, it is a well-established fact that the ERP of the future is in the cloud. Major players in the industry like SAP S/4HANA Cloud, Oracle ERP Cloud, and Microsoft Dynamic 365 Cloud ERP are offering cutting-edge, customized solutions to cater to the needs of large enterprises, SMEs, and startups. Saying that cloud ERP will be the most preferred solution by businesses for creating lasting competitive advantage is not superfluous anymore.                                                            

However, Cloud ERP implementation is a strategic decision and requires a detailed assessment of business needs, capabilities, and goals before committing to a cloud solution. 

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Why will cloud ERP Solutions be in Demand?

A report reveals that global Cloud ERP market size is expected to reach USD 37.7 billion by 2024. The figures are impressive and indicate the undeniable potential of cloud ERP in boosting business performances. Let’s consider the advantages of a cloud-based ERP that will inspire businesses to upgrade their legacy systems and take them on the cloud.

  1. Streamlined business processes
  2. Improved operational efficiency
  3. Insightful decision-making
  4. Intelligent analytics
  5. Increased agility
  6. High level of simplification
  7. Faster implementation
  8. Lowered cost curves
  9. Enhanced security
  10. Faster customer service
  11. Predictive planning for future
  12. No need to maintain physical servers
  13. Enormous scalability

Aligning Cloud ERP Solutions to Business Goals

Before opting for a cloud ERP, it is crucial to align your business goals by assessing requirements and objectives of moving to the cloud.  For getting Cloud ERP ready, check if:

  1. Current ERP or disjointed systems are managing data intelligently while creating a synergy between all divisions and business units.
  2. Business is operating under data silos.
  3. All stakeholders have remote access to real-time data.
  4. You have faced any compliance issues lately with your current ERP.
  5. Current ERP server and database are scalable to support your business as you plan to expand.
  6. IT infrastructure has become a cost center.
  7. You can focus on your core competencies.
  8. Business growth has been stalled in the absence of meaningful business insights.
  9. Current system calls for high expenses on maintenance.
  10. Current system is a customized and configurable solution.
  11. Legacy system ensures high data security.
  12. Your business is mapped to industry standards.

If you see deficiencies at any level and there is a scope for improvement, it is the right time to replace your current ERP systems with Cloud ERP. 

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What key factors should you consider before switching to Cloud ERP?

Moving to the cloud is a significant decision and calls for substantial restructuring at all levels. You should consider the following pointers before proceeding to ensure a seamless transition:

  1. Create a business case for Cloud ERP, highlighting the needs, expected outcomes, and an ERP implementation strategy. 
  2. Chalk out the ideal environment needed to enable cloud technology.
  3. Understand that this decision may affect the status quo and thus require proper change management strategies in place.
  4. Create a change management team and ensure that it works to buy employees’ support throughout.
  5. Choose reliable and certified technology partners for end-to-end cloud ERP deployment.
  6. Run a data hygiene process and decide if you want to migrate the entire data or just mission-critical data to the cloud.
  7. Always prepare a risk mitigation plan to prevent any performance breakdown during the transition.

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Such an assessment will make your journey to the cloud smoother and faster. Katalyst Technologies has extensive experience in end-to-end ERP solutions implementation in the cloud. As a value-added reseller for SAP, Oracle, and NetSuite, and having integrated Celero WMS on ecommerce cloud platforms, our experts can help you choose the right ERP solution for your business. 

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