Increasingly, CFOs are being challenged to drive digital innovation across the enterprise and, as such, are more frequently spearheading technology strategy and evaluations.
And the technology trend of the moment they are evaluating closely is of course the cloud. In fact, 95% of businesses are using the cloud in some capacity, according to RightScale’s 2017 State of the Cloud report. While it’s true, many organizations have made the leap to the cloud in some fashion, many are still carefully weighing the pros and cons and costs of moving ERP to the cloud. If your organization is hesitating, here are 5 additional reasons why the digital-first CFO finds the cloud appealing:
Swifter, More Cost-Effective Setup
Taking that first step can be the most challenging part of getting your business started with new technology. Luckily, with cloud ERP providers like NetSuite and JD Edwards’ cloud services, the setup process is vastly simpler. Because everything is in the cloud, the install and setup process is more turnkey and intuitive. Whereas with on-site ERP solutions, hardware and equipment setup adds cost and time, not to mention training on the front-end of your ERP implementation. With the cloud, you’re good to go from the get-go, allowing your IT team to focus on innovating and helping grow the business more effectively, rather than spending a disproportionate amount of their time getting the new system up and running.
Flexibility and mobility are key to today’s workforce, and cloud ERP makes it simple to give that to your employees. A cloud-based ERP solution provides real-time data that can be accessed via the Internet anywhere, at any time. That means that staff at your company can see accurate, up to date information remotely without any extra or ongoing costs, enabling them to make faster, more informed decisions.
Keeping your organization’s data safe is always a top priority for any business data, and the intangibility of the cloud can raise questions as to its security. Let’s squash that myth right here, right now. One of the many advantages of going with a cloud-native ERP provider like NetSuite is that because it’s their primary focus, security is a top priority. By providing strong, industry standard data security certifications and compliance with industry standards, you have the peace of mind knowing that your data and business-critical functions are safe without any extra cost. Furthermore, most analysts would suggest that today’s leading cloud solutions are almost always going to be more secure (than on-premise deployments); if only due to the significant focus, cost, and ongoing discipline to manage the dynamically changing challenges of proper security administration (especially for small to mid-sized business).
Growing your company is, of course, always a key business objective; so finding a technology solution that can grow with you is imperative. The cloud provides effortless scalability. Adding users to an on-site ERP can be cumbersome and time consuming, often requiring additional hardware and infrastructure. Cloud-based ERP systems are easy to scale, giving you the flexibility to add more users as your business grows.
Time to Innovate
At the end of the day, making sure that your ERP solution is making your business more agile, and enabling your whole team to continue to push your business initiatives forward, is priority number one. So finding one that is an asset and not yet another task for your IT team is integral to all of your business goals. With the right tools in place, your team will be spending less time managing those apps, freeing your team to move beyond keeping business apps up and running, to focus on more innovative, business-growing initiatives.
Once a company transitions its ERP solution to the cloud, the job of the IT team is to manage and optimize the experience for employees. However, oftentimes smaller IT teams are stretched and unable to commit the time these solutions require while juggling their numerous other IT tasks. In these cases, it might be time to consider a managed service provider. For less than the cost of adding another full-time IT employee to your team, an MSP offers access to a full team of ERP 24/7/365 to make sure you’re getting the most out of these business-critical investments.
You can learn more about how a managed service provider can help your team in our recent post: NetSuite Managed Services: The Advantage CIOs and CFOs Will Love
And learn more about how the cloud can boost your business growth in this complimentary white paper from Mint Jutras: