Cloud ERP and its exponential growth

In 2022, the global revenues from cloud ERP are expected to exceed 28 billion dollars (compared to 17.6 billion dollars in 2016). This figure is, in itself, a response to the initial concerns about the benefits of migrating critical operations to cloud-based systems, such as SaaS solutions. Now, the benefits of the cloud have become more than clear.

This trend is largely explained by the obvious financial benefits that cloud-based systems offer. In short, such solutions free internal resources and thus allow the IT personnel to focus on more strategic projects, while at the same time they require a minimum amount of hardware to operate as expected.

Furthermore, you don’t have to rely on multiple on-premise servers, which further leads to the added advantage of reduced floorspace requirements. All this leads to a more streamlined recovery strategy, since you no longer depend on traditional backup methods. Moreover, those that migrate their ERP system to the cloud, have access to a level of available data and analytics that was not feasible before. So, not only will users be able to access data from any supported device with an Internet connection, but the cloud environment will also support innovations such as machine learning and AI. Just think of the unprecedented amount of Business Intelligence that decision-makers will have at their disposal.

The transition to a cloud-based environment offers the ideal opportunity for revising and optimizing all existing business processes. ERP solutions provided by reliable vendors integrate the best practices for each customer’s industry. So, they offer a great opportunity for revisiting and revising legacy approaches to make them more flexible and adaptable to the requirements that come with digital transformation.

And, as it can be easily understood, when companies stand to gain significant financial and other benefits from their investments in cloud-based solutions, decision-makers will readily adopt such solutions as a necessity.

Essentially, all ERP features and functionalities can be deployed in the cloud and then, gradually, be tailored to the specific needs of each company. Of course, for potentials to convert into action, one should be ready to embrace change and examine how they can migrate all their operations to the cloud, including obviously their ERP system. If this is accomplished, the prospects are literally unlimited.