Storing data and using software hosted via cloud-based platforms has numerous advantages. It’s why cloud computing is taking off; particularly for SMEs, who can now afford technology platforms to help them compete with the big players in their industries.
Some of these advantages include:
- Anywhere, anytime access to information by staff, customers and partners, since all applications are designed to run on mobile devices.
- No staff time required to maintain or upgrade hardware as the company grows.
- Most current functionality is always available since the cloud vendor maintains and updates the software.
- The SaaS cloud vendor has the best security available as verified by news on the data security breaches at on-premise systems in big and medium size companies.
- Data is safely backed up with a disaster recovery plan.
- True cloud applications are designed with an intuitive user interface to speed time to productivity.
Because cloud solutions have been used to run ERP for some time now, the industry has access to documented results of the benefits. The eBook looks at various examples such as research from the Aberdeen Group. Aberdeen reported that the average improvement of profitability over the past two years for midmarket companies that are not in the cloud was 9% profitability improvement. However, midmarket companies who were cloud-enabled reported a 17% improvement in profitability over the past two years.
Aberdeen also discussed integration with other technologies, saying:
“For midmarket organisations, the flexibility that cloud environments provide actually enables them to implement more technology that can improve processes.” Some of these results include:
- 13% more likely to have Customer Relationship Management
- 43% more likely to have Business Analytics
Ultimately, this improves visibility, impacts collaboration, and enables efficiency and agility.
To find out more about cloud computing, its impact on ERP and MYOB’s cloud-based solutions, download the eBook.