Cloud ERP is a software that makes it possible for users to easily access Enterprise Resource Planning (ERP) over the internet. One of the factors that make Cloud ERP popular in the business community in Singapore is the cost. Most of the other ERP software require high up-front payments. Small and new companies with financial constraints find it difficult, and sometimes even impossible, to make this investment. Cloud ERP has lower upfront costs since the services are leased by the month, instead of an outright purchase.
Cost-effective
As has been noted, Cloud ERP is favorable because of the flexible payment terms. Instead of paying for software upfront, companies can make monthly payments. This is a great feature for companies that rely on incoming income to meet daily and monthly expenditures. Some business owners are not sure if their business needs to invest in ERP. Unfortunately, most of the other software needs to be bought up front.
If a budget does not exist for the ERP system, many companies choose to go without it until such a time when they have the funds for it. Cloud ERP is also a great alternative since the cost of maintaining and supporting applications is lower because the cloud vendor manages all the updates and upgrades.
Data backup and recovery plan
Many companies worry about the safety of their data and what would happen should they lose the information that is at the core of the company’s operations. Cloud ERP has security features that ensure all the data is backed up and can be retrieved easily should there be a disaster that led to the loss of information. This has created confidence in the Singapore business community that has been looking for a system that guarantees the safety of data.
Protection from attacks
Companies always worry about hackers and the impact of cyber-attacks on the day-to-day running of the business. Businesses that use Cloud ERP do not spend time worrying about attacks on the company’s server since the information is stored on the cloud. Protecting the company’s servers is an important component of management. However, knowing that the data is safe gives management the peace of mind to concentrate on the running of the business, instead of obsessing about the cyber-security and the new techniques used by hackers in a bid to access data.
Flexible cloud service
The amount of data a company has in the first two years of operation is not the same after five or ten years. The changing storage demands make Cloud ERP an excellent choice. This application is scalable. The storage space required by companies fluctuates depending on the changing computing needs of the business. For example, a company may introduce more products to their online clients. They may also include shipping and tracking information to attract more clients. These changes will not affect the speed or accessibility to the Cloud ERP system since the storage space, and computing services is elastic.
Easy geographical expansion
Since Cloud ERP is accessed on the internet, it can be accessed from any corner of the world. This makes it easy for companies that are looking for geographical expansion. The company only needs to worry about other logistical challenges that come with expansion, without worrying about the installation of hardware or software in local servers where the various branches will be established.