Major impacts of Cloud ERP on Your Business Resilience

In today’s unpredictable business environment, Enterprise Resource Planning or ERP platforms help businesses to deliver organizational visibility and mission-critical data on a unified platform. From supply chain interruptions to disruptions due to changing business requirements, there is a lot to consider to ensure that your business operations are seamless.

Moreover, there is no way that you can become complacent with your existing business strategies. With the pandemic already compelling businesses to go for newer strategies, you have to develop a thorough action plan which would help you navigate the intricacies of business management. So with these things in mind, let’s see how an ERP platform would help you negotiate the current challenges.

Helps you to Facilitate Remote Workforce Management and Collaboration

Well, many businesses out there would admit that the shift to remote work has become a norm these days. With the COVID-19 pandemic already forcing people to stay indoors, working from home has become a popular option for a large number of companies.

But reality hit hard when companies found it difficult to manage remote teams of large scale. There were companies who reported inconsistencies while working with QuickBooks, an outdated ERP.

On the contrary, by using NetSuite’s cloud ERP, the accounting departments of many organizations working remotely reported higher productivity levels. Always remember that you have to opt for a reliable NetSuite service provider who would help with the integration of important services. NetSuite and its checklist functionality allow users to know the exact steps they need to take to ramp up productivity.

NetSuite ERP Complies with Various Accounting Standards

There is no denying the fact that adhering to ever-evolving rules and regulations is a major issue for both public and private companies. You would be well-aware of the new balance sheet rules that require accountants to be careful while working. On the other hand, managing these sensitive processes on spreadsheets can lead to data leaks and inconsistencies.

This is exactly where modern ERP systems can come to your rescue. ERP platforms like NetSuite can automate all these tasks thereby ensuring you with greater amounts of data consistency.

Always remember that ERP platforms receive regular capability and feature updates that are transferred to the user automatically. In short, these advanced platforms can better handle the frequently changing rules when compared to traditional on-site software solutions. ERP systems that are cloud-based offer you a clearer pathway to adapt to the new norms.

Provides every Department in your Company with a Unified Picture

It is a commonly accepted fact that companies tend to invest heavily in various types of software platforms when the need arises. So as you can see, if each department has a separate software platform to accomplish tasks, it can be difficult for others to evaluate the key performance metrics.

Moreover, decision-making becomes extremely complicated and time-taking which can result in overall revenue and customer loss. With ERP solutions based on the cloud, you would get accurate and real-time data which would help various departments in your company to collaborate more effectively. Another highlighting aspect of ERP platforms is that they use real-time inventory data with which your sales team can design compelling customer retention strategies.

React Fast to Changing Environments

If you are still using disparate software platforms, there is no way you can comply with the changing environment. As we all know, cloud ERP platforms like NetSuite can deliver insights in real-time allowing you to adapt to changes faster. Also, note that modern ERP systems deploy role-based dashboards which provide you with a unified image of the company’s performance.

And always remember that these role-based dashboards facilitated by cloud-based ERPs would help your employees to have access to important data whenever they require it. These types of dashboards also eliminate the need of calling the IT department every time you need data to assess your organizational performance.

Some Other ways in ERP Platforms can help with Business Resilience

Enterprise Resource planning abbreviated as ERP can be an asset for an organization and make a business run smoothly by protecting and unifying information. ERP can help significantly to automate the processes and to produce easy to understand trends for the management and the employees. The best ERP deployment partners can train the top executives in the business to take the best advantages of the system. There are some significant benefits of ERP that you can find in the following paragraphs.

It can Improve Efficiency

Though ERP can be a good investment, it can help to unify the IT cost and can improve productivity. The need for spending on multiple systems with dedicated staff for all will not be there as all functions can be combined in ERP. It can also reduce the training requirement for different end-users as training on one single system will be enough. The design of the ERP is modular with numerous functional areas like supply chain management, CRM, HRM, etc.

The Working of ERP is Evident

It is a unique selling point of ERP software as it allows total access to all the essential processes of the business. The senior management and the key employees can access all data of the company at any point in time, like the inventory levels, etc. Also, all the information of a company can be available in a centralized position that can allow increased collaboration among various functions across several departments and among several companies of an enterprise.

There can be Improved Planning and Reporting

Apart from enhanced visibility, implementation of ERP can provide better insight. With the help of the ERP deployment partners, the business can effectively use a single reporting system for every process. It is easier to compare the functioning of individual departments without generating multiple spreadsheets.

Conclusion

So as you can see, ERP platforms can provide you with consistent data and insights which would help your business to progress effectively. Deploying ERP platforms would also enable your organization to adapt to frequent changes in the business environment.





Mrudul Modh is the chief NetSuite Consultant of VNMT, A NetSuite Alliance Partner with years in NetSuite implementation services, custom development, and across diverse industry niches.