Searching for the Best Cloud ERP Software: The 7 Essential Criteria
Overview
Businesses beware! Some vendors have retrofitted their ERP software to run on the internet from their own internet-connected data centers, giving the clients an illusion of cloud ERP. These systems don’t offer the full functionality of a cloud-based ERP and therefore, you can miss out on some major benefits like scalability options or APIs. These systems also require significant downtime for patch upgrades. Therefore, decision-makers should conduct thorough research before selecting the right fit.
If you are looking to implement a cloud ERP system in your organization, then keep reading!
Computer-based ERP systems have been around for more than 30 years. These systems have gone through some trailblazing innovations and the introduction of cloud ERP in the early 2000s proved to be radical. Cloud ERPs are ERP systems that can be accessed over the internet and users don’t need anything more than an internet-enabled device (mobile, laptop, computer, etc.) and an internet connection to operate them. These systems were instrumental in bringing the benefits of ERP to startups and small to medium-sized businesses, along with big enterprises.
Understanding Cloud ERP
Enterprise resource planning is a business management software that integrates and automates essential business functions and creates a single source of reliable data. ERP has independent modules for production planning, procurement, inventory, manufacturing, compliance, finance, sales & marketing, etc. that work together to streamline processes and optimize workflows. Cloud ERP can make all these modules accessible through the internet, simply on a web browser.
The complete suite of ERP functionality is available in cloud ERP, along with the convenience of logging in over the internet from any device, from anywhere, at any time. The required infrastructure for cloud ERP is owned by the vendor, as opposed to on-premises ERP, where the client has to invest in developing and maintaining servers, hardware, systems, etc. Thus, the choice of cloud ERP can save a considerable amount of money for the client, freeing up funds to be invested in other business activities.
An organization owns a specific instance of the cloud ERP software by paying a periodic (monthly, quarterly, annual, etc.) subscription fee to the vendor. The client can access a full host of ERP features through a secure URL and store their data on a secure cloud. Moreover, cloud ERP takes advantage of cloud computing to access and analyse massive amounts of data in near-real time. Keeping these factors in mind, implementing cloud ERP might be a wise decision!
Cloud ERP Deployment Methods
Before speaking about the essential criteria for selecting the best cloud ERP system, let us first discuss the deployment options available to the clients:
Multi-tenant SaaS – The same version of the ERP software and its connected infrastructure is used by multiple organizations. Although, one company’s data remains inaccessible to the other companies.
Single-tenant SaaS – A single version of the cloud ERP solution is dedicated to a single client. No other company can use the same instance. The cost of Single-tenant SaaS is higher than multi-tenant.
Public Cloud – Multiple organizations use the same cloud computing services over a public cloud. The data remains quite secure. Examples of public cloud include Amazon Web Services and Google Cloud.
Private Cloud – A private cloud setup is created by purchasing a dedicated server space at a data centre. The services of a private cloud are not shared with any other organization.
Hybrid ERP – A combination of on-premises ERP software with a private or public cloud for computing, storage and services.
The constraints of investment, security, and flexibility play an important role in the selection of one of these options.
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7 Essential Selection Criteria for the Best Cloud ERP Software
Before deciding to implement a cloud ERP solution, read the list of essential criteria for the best cloud-based ERP software:
Cloud ERP is a technology of the future, which is why, every organization is making an investment towards shifting their legacy systems to the cloud. If you are also looking for a mobile, secure, accessible, scalable, flexible, stable and future-ready cloud ERP solution, then you should definitely check out BatchMaster Cloud ERP. If you need a demo of the features and capabilities of this next-gen ERP software, click here.