Technology is evolving at a much faster pace now than ever! Implementing new technologies in businesses to manage & increase output and gain more results is essential for businesses of all shapes and sizes, be it enterprise-level businesses or startups.
If you want to ensure that your business stays competitive in the market, you must invest in the right technology. One area that can help your business grow is the right ERP software. But what exactly is ERP software, and how can making a move to Oracle Fusion Cloud ERP help businesses?
What is an ERP system?
ERP (Enterprise Resource Planning) is a powerful tool that helps businesses to run their processes more efficiently. It has several different modules, one of which is a CRM, allowing you to keep up with all your sales and marketing activity. ERP Suites is like having a digital diary for your business that allows you to keep track of everything that is going on. At the same time, you can also integrate it with other software. While it can bring many benefits to your business, it can also come with high infrastructure costs. That is why many businesses decide to move to ERP cloud systems to reduce expenses and increase ROI (Returns on Investment).
This blog will discuss what ERP Cloud can do for your business and why it is worth moving to the Cloud.
How Oracle Fusion Cloud ERP Cloud Increases ROI?
- Cost Reduction: An on-premises ERP system requires a big hardware setup. It requires a robust IT team for maintenance, not to mention the increased expenses. In contrast, ERP Cloud solutions don’t ask for it. ERP Cloud vendors provide subscription-based pricing models, making implementation simpler, economical, and appropriate for small and medium-sized businesses. Cloud-based ERPs are more adaptable and creative. Compared to on-premise systems, Cloud ERP provides more flexibility and scalability, giving an advantage to the company and being a go-to solution considering future requirements.
- Access Data From Anywhere: Accessing data from anywhere is one of the most in-demand capabilities in an ERP system. Therefore, Oracle ERP Cloud, a well-crafted tool that allows employees to access and update data from anywhere in the world, makes Oracle ERP the ultimate choice for companies. Moreover, Oracle ERP has an in-built security system that reassures companies and rids them of data theft worries. Access from anywhere capability also allows managers and supervisors to make fast decisions and manage workflow with agility.
- Increase Productivity: Updating and managing data for many functions is a tedious task within a business. Employees have put in a lot of work on this laborious activity, and the risk of submitting duplicate entries or making other manual errors is always present. Plus, with the competitive market growing, organizations need to buck up and find ways to increase productivity. Oracle Fusion Cloud ERP minimizes human intervention, which helps avoid errors and chances of redundancy. The time saved here can be used in more critical tasks and increases workforce productivity massively.
- Better Governance: An organization will perform better the more agile it is. The most apparent advantage of ERP software is that it provides real-time, up-to-date results. The entire organization has access to information, whether on-site, digitally, or in the field. Platform security gives users access to reliable data, enabling management and staff to make the best possible decisions. Another key benefit of cloud-based ERP systems is mobility. Each employee has access to information whenever and wherever a Wi-Fi or mobile internet connection is available, regardless of where they are located. Individuals or departments can utilize customizable dashboards to receive information that reflects the current business ecosystem; views are determined by the user and the functions they do.
- Centralized Sharing: Administering and monitoring the system becomes more challenging when data is hosted across several platforms. So, data must first be gathered before being used to produce reports and data-driven analytics. An integrated system is much more desirable because the procedure is much more intricate and time-consuming. ERP software is created on a single platform that organizations can use to track several databases managed by diverse departments across the entire company. It facilitates improved decision-making, which helps business experts enhance operations.
- Regular Automated Updates: Another benefit of having an Oracle Fusion ERP on the Cloud is that you don’t have to worry about system updates. The vendor and their implementation partners ensure automatic and regular system updates with Oracle implementation. Additionally, users can continue using the old dashboard instead of the updated one until they get comfortable with the updates.
- Higher ROI: Every organization that implements Cloud ERP expects excellent returns on their investments, and rightly so. Excellent results are inevitable with end-to-end software system implementation and support from your implementation partner. All the points mentioned above are directed toward how businesses can achieve higher ROI with ERP Cloud based on how well a company’s workforce starts using it. However, it is essential to set realistic goals. ROI from the ERP system doesn’t show within days or weeks. It is a long-term investment, and you must be patient with the process.
Future Scope of Oracle ERP Cloud
Oracle Fusion Cloud ERP has a promising future. With each quarterly update, Oracle has continued to invest in the product and develop new features and functionality, making it one of the market’s most innovative and cutting-edge enterprise resource planning (ERP) solutions. The product is now used by some of the largest organizations in the world and is trusted by many. It has the potential to streamline businesses of all sizes and across all industries. It is flexible, scalable, and reliable and offers a comprehensive suite of features. Moreover, Oracle has a powerful roadmap for the product, has a robust partner ecosystem, and is committed to continuing to invest in it. The product is also available on mobile devices, taking accessibility to new heights.
Pro Tip: Ask all sorts of questions about technology, cost, and implementation from an Oracle implementation partner before taking a final call. It will ensure your journey to the Cloud is safe, enjoyable, and profitable.
Connect with Tangenz today to learn more about the product and its implementation!