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What Cloud ERP Technology Does for Your Business

 
2017-07-31 
Cameron Sordahl 
 
With technology trends moving as fast as they do, it is important to keep up with those tends if you want to keep your business alive. Right now that trend is called Cloud Computing and it is taking the business world by storm so much that it is trickling into the consumer world as well. 

If you want to be a successful business person in this world, you need to invest in the cloud for very critical reasons: it is more secure, it cuts costs, and it can be accessed from anywhere.

• The cloud is safe

Normal security systems have been based on something called signature files which need to be retrieved in order to access the network. There has to be more of these files in proportion to how large the network is. This becomes a problem in large companies that have lots of signature files in their system because accessing all of them to access the network creates a gap in security leaving it vulnerable to infection. 

The cloud system doesn't have to use these files which make it more resistant to possible viruses. This also makes the cloud much easier to maintain as there aren't as many files that need to be cleaned and updated on a regular basis. Using the cloud gives you the fastest and strongest security attainable at the moment. Since your network is managed by professionals, you will also be protected from the network going down. They will put your network on servers in several locations so an outage at one location will not bring down your entire operation.

• The cloud is easy on your wallet 

The main reason for outsourcing is that it is easier and less expensive for your company to do so why not do it for your network? Maintaining your own network requires physical capital as well as human capital. What need is there to hire IT specialists and buy server towers for an internal network when you can simply hire a company that already has their own servers and all the necessary expertise to do it for you. A cloud company's business is running these networks so it is their job and their goal to make their services less costly than anything you can do. By hiring the cloud, you are keeping lots of employees out of your overhead and drop more profits to the bottom line.

• The Cloud allows you to do business anywhere

Now days, if your business isn't global, you probably aren't going to be in business for much longer. With the progression of globalization, not only do companies do business with other companies from around the world, but they also divide their business segments across the globe to areas that cut costs. Utilizing a cloud system allows people from all over the world to access the same network which will greatly streamline global operations and allow employees to telecommute if they have to.

• ERP systems keep track of customer information

What better way to improve your sales than to know what your customers are going to want to buy and when they are going to want to buy it. ERP systems allow you to do that by keeping data on your customers that you can organize and recall during project and product forecasting. Some of the data that can be collected is customer addresses, sales reps that they work with, forms of payment that they use, credit limits, and shopping history (including frequency). Using this information, companies can save incredibly important time and money because they can calculate how much inventory they need to have at which points in the year. Keeping excess inventory is costly and prevents the company from using that space for something that could be generating revenue.

• ERP systems track inventory

The next step in the business process is to maintain the inventory that the company has manufactured/acquired. The ERP system helps this by keeping track of what inventory is bought or used. Knowing exactly what you have on hand is critical because buying too much of something that you have already is wasteful and bogs down your overhead. Not buying enough of something that you are lacking will halt your operations and could cripple your revenue stream. The ERP system also tracks how your merchandise is being moved depending on what item is moving, whether it is the FIFO, LIFO, or average costing method. A smaller system may just keep track of what inventory you have on hand, but a larger system for an international company will also be able to tell you where your merchandise is. Imagine a company with warehouses all over the country trying to track down inventory by mail or phone. That would be impossibly difficult and time consuming in comparison to simply looking on a computer that is connected to every location in the company.

• ERP can do your accounting

You don't necessarily have to have a complex ERP system to do your accounting. With programs like Peach Tree, mom and pop stores can digitally journalize their ledgers and spend more time selling their goods with the time that they save on financial statements and sorting through receipts. Larger companies will benefit proportionally as they grow since with an ERP system, the accounting division can easily access all the data from all of the companies branches. This system also allows them to keep tabs on how the money is moving in the company so they can allocate the cash flow and be more accurate when making the annual budgets. 


 
 

 

 

 

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