Many organizations wonder whether their ERP system might be outdated. And the sad truth is, it probably already is. An ERP (Enterprise Resource Planning) system is the backbone of any business. Within an organisation, an ERP system can have long life cycles. However, the technology that supports the system changes over time. An outdated solution can thwart a company’s success and ultimately lead to organizational failure. It has been observed that more than half of companies utilizing an ERP are relying on an outdated solution and it’s ultimately impacting their profitability. To help organizations with the constant technology advancements, Microsoft's Dynamics 365 solution, provides a rare kind of of agility, functionality, and cost effectiveness that companies can only find in a cloud-based platform.
Emergence of Cloud ERP'sWith the advent of information technology, ERP has been in the forefront in organizational success. Traditionally, all organizations were built of different departments undertaking distinct tasks. Different departments led to various other objectives and productivity metrics. To curb this, the development of enterprise approach towards management advanced. With the utilization of ERP systems, the focus started shifting from function to process. ERP system looks at the process as a whole. It leads to removal of data duplication as one entry or activity can be captured just once, and this record cannot be accessed without proper authorization. Standardization of data cane be done with the help of ERP system. ERP System also helps in data tracking from origin to destination. The surge of interest in cloud ERP solutions is hugely significant as companies respond to competitive pressure and other market forces.
Progress of ERPIt's taken a number of years for businesses to reach present-day ERP system. Earlier management models served as as precursors to manufacturing resource planning methodologies. Modern ERP is uniquely positioned to provide the privacy and data security you need, so you can focus on improved customer experience and company-wide innovation. The ERP system now is about harnessing the power of a fully cloud-based set of business solutions to turn today’s most advanced tools into practical applications that drive the performance companies need. ERP's now have integrated innovative technology—like AI and the Internet of Things—into a powerful, cloud-based suite of familiar tools and apps to provide a truly transformation experience. Cloud based ERP solutions, now are integrated with other potent productivity tools, which are primarily built for a powerful outcome.
Benefits of ERPUsing ERP system, business owners and managers get an integrated real-time view of business processes, resources, and commitments. Beyond this, ERP facilitates the flow of information between departments while integrating systems used into one overall platform, thus reducing the chances of disparate data between departments. Overall, cloud-based ERP systems provide the following distinct advantages over legacy on-premises solutions:
- Easy updates
- Reduced IT dependency and total cost of ownership
- Streamlined implementation
- Built-in security protections to safeguard your data
- Worldwide functionality
Key Takeaways from 'Evolve Your ERP: Enable Corporate Agility with Dynamics 365'
- ERP system reduces the requirement of resources. The need to hire people to install, troubleshoot and manage hardware and software diminishes as the ERP solution does all the work.
- Cloud ERP system provides a more secure environment. They are the best security measure for keeping all of company's data intact and secure.
- With ERP system the scope of scalability is huge. As companies have more time to focus on advancements than organizing company data.
- ERP system avail great support. They are the best as they provide round-the-clock support including software updates.