You may wonder how moving to a cloud ERP can save your business money? Initially, when you factor in years of monthly payments, it appears that on-premise ERPs are a smarter financial investment. However, on-premise ERPs come with a host of surprising fees and costs that can multiply over time. Software as a Service (SaaS) cloud ERPs are designed to be flexible cost -wise and allow your company to focus more time on innovation and development.  

Here are a number of reasons how a cloud ERP solution can save your business money:  

Cloud ERPs reduce overheads 

Cloud ERP’s are 100% browser enabled and centrally managed and accessible from anywhere, anytime. There are no costs associated with building, maintaining and securing your data centre. Labour costs are reduced as your IT department spend less time repairing old or outdated hardware, servicing servers and ensuring all firewalls and security measures are in place. With cloud ERP software, your company no longer handles the cost or responsibility of maintaining an on-premise solution.  

Cloud ERPs eliminate upfront costs 

Unlike on-premise ERP solutions which require a full upfront investment, a SaaS cloud ERP model has a low initial cost due to its monthly subscription model. The lower initial investment means that businesses can benefit from the essential insights and functionality of an ERP system without paying in full upfront. Allowing your company to continue investing in other aspects of your business from the outset.  

Cloud ERPs automatically update 

To reduce the cost and time of manual updates, SaaS cloud ERP upgrades are carried out automatically and on a regular basis. Instead of falling behind on upgrades and diving into the budget, cloud ERP upgrade costs are included in the monthly subscription price. This means your system is constantly performing to the most efficient level, accessing the latest technology without worrying about extra costs associated with upgrades.  

Cloud ERPs provide scalability 

Another extremely beneficial advantage of a cloud ERP is the flexibility it provides. The monthly subscription model allows businesses to easily add or remove users as company growth fluctuates. SaaS cloud ERPs are designed to increase scalability and grow with your business. With an on-premise ERP, flexibility is limited as you guess how many licenses you’ll need over an extended period of time, sometimes a difficult and costly decision to determine.  

Cloud ERPs integrate easily 

Finally, integration and collaboration is extremely easy with a SaaS cloud ERP. High mobility and instant accessibility to the cloud means your businesses data automatically syncs between mobile devices and offices. Such integration results in less time and money wasted on trying to access critical information and more time spent on developing your businesses efficiency and productivity.  

Deciding which ERP is right for your business can be a confusing decision, however with cloud ERPs you can rest assured that your system will grow and adapt as needed. The money you will save is a strategic and cost cutting investment. Don’t want to pay for maintenance of data, extensive IT labour regular software updates, bug fixes and more? Consider investing in a cloud ERP, like MYOB Advanced.  

MYOB Advanced is a true cloud system designed to help businesses be more flexible by working online. With power, flexibility and scalability, it is transforming the way larger businesses operate. Eliminating hardware costs, MYOB Advanced gives you a fully customizable platform for a monthly price. The convenient pricing options means less upfront outlay and allows your business to better plan and manage expenses throughout the year. As your business grows, so does the complexity hence an investment in a cloud-based ERP solution like MYOB Advanced is a smart, cost-cutting option to meet future demand.  

Interested in learning more about cloud ERPs or MYOB Advanced? Read more about MYOB Advanced here or get in contact with us today.  

Source: Acumatica