6 Ways Cloud ERP can save you Time and Money

In a global market experiencing rising cost pressures due to inflation, it’s important to look at how your organisation’s infrastructure is built from the ground up, in an effort to cut costs, and still manage to keep your company profitable in the long term by switching to a Cloud ERP solution.

If you have already subscribed to a legacy ERP system that only offers on premise, it might be time to change. With cloud technology kicking off for the past 5 years, it has become more secure, more reliable and furthermore much less expensive for businesses of all shapes and sizes to adapt. 

Switching to a Cloud ERP system is much more cost effective and efficient compared to having on premise systems, here are some key areas where you will be able to save compared to on premise system:


Licensing Fees

Licensing Fees Meeting for Cloud ERP

With a cloud solution you can operate an ERP solution almost immediately without investing in upfront operational costs at the start especially when purchasing the software. Cloud solutions help with cash flow planning and management for small businesses much easier at a lower costs.

Hardware & Servers Costs

Hardware and Server Upgrades for Cloud ERP

With a cloud ERP solution, spending money on manually hosting your solution through your own servers and on top of that, having an IT team to maintain the hardware and software, is really a thing of the past. As a cloud solution is already hosted and taken care of by a team of specialists, your operational costs are much lower. Not to mention upgrades are almost instant and since it’s covered by your Cloud ERP solution this forgoes any additional upgrade costs.

System Maintenance and Upgrades

Cloud ERP

With on premise solutions, upgrades can be quite costly and furthermore can get complicated as on premise solutions usually require an IT team to implement the software as well as maintaining the solution on a daily basis. Switching to a Cloud solution means the providers of the service are solely responsible for the maintenance and upkeep of the system (including upgrades), this cuts costs financially but also time-wise as updates are quicker and automatic.                                                                                                                                                                                                                                 

Customisation

Tailoring your Cloud ERP solution for your business

Any growing business needs a degree of flexibility with their ERP solution as they take on more complex business processes. While an on premise solution can be modified to an extent, they are still linked to existing software code that can get wiped when the system is upgraded, then you have the IT costs to re-implement the customisations one more time. Cloud ERP solutions offer you more flexibility as when software upgrades it does not affect your base code. Similar to Triumph Cloud, you can add and remove modules as you see fit for your business. 

Scalability

Measuring in terms of services for Cloud ERP

Scaling your business means scaling your ERP solution aswell, as processes get more complex your ERP system is going to need more hardware and infrastructure to run, this can be costly especially with On Premise solutions. Whereas a Cloud ERP solution can be scaled up or down depending on your business, giving you the option to only pay for the functionality you require for your business, saving you costly infrastructure costs that are covered by your Cloud ERP provider.


Let’s Sum It Up

Cloud ERP solutions offer your business consistent regular updates, upgrades, lower upfront and operating costs, improved usability, and importantly disaster recovery (as the data is stored outside the business). A Cloud ERP solution is super beneficial for a growing business without being anchored by a costly On Premise solution. Overheads such as infrastructure, hardware and installation costs are all dramatically reduced for companies using cloud-based ERP systems.

Implementing a cloud-based ERP such as Triumph Cloud, has many financial advantages. Your ERP system changes from a capital cost into an ongoing operating cost, preventing the need for large-scale capital upfront.

While a cloud ERP may include initial setup costs and training, you can achieve economies of scale much faster compared to on-site infrastructure. Cost-effectiveness is one of the major reasons businesses are choosing to move to a cloud ERP, rather than stick with an on-site system.

Conclusion

Cloud ERP solutions offer companies some powerful benefits such as agility, better security, lower costs, and flexibility. They remove the difficulty of maintaining and updating systems, enabling companies to make a move and invest their time, money, and resources into fulfilling their fundamental business strategies rather than focusing on the maintenance of IT infrastructure.